Technavio Says the Increasing Use of Plastic Fuel Tanks Will Accelerate the Global Automotive Fuel Tank Market Through 2019
By Business Wire News
By Business Wire News
Technavio, a tech-focused research firm, has published a new report on the global automotive fuel tank market,which is expected to grow at a CAGR of almost 6% from 2015-2019.
In accordance with the latest report by Technavio, there is an increased use of plastic automotive fuel tanks because plastic can be molded to fit unique spaces in a vehicle, enable efficient utilization of space, and eliminate any risk of corrosion.
“Plastic automotive fuel tanks are considered to be a safer option than metal fuel tanks in crashes because they are seamless and not prone to failure in the seam areas,” says Faisal Ghaus, Vice President of Technavio.
The report also discusses the advances in technology that have led to new designs in powertrains, thereby influencing the shape and capacity of fuel tanks in automobiles.
“In the present market, a plastic diesel tank for a heavy commercial vehicle is made by one supplier and a different-sized plastic passenger vehicle tank by another, which requires buyers to use different suppliers for different types of tank. However, with the introduction of advanced manufacturing techniques, buyers will not face this problem,” explains Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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