Automotive Fuel Tank Market Size, Share, Growth Analysis, By Material (Plastic, Steel), By Capacity (Below 45L, 45L-70L), By Propulsion (Hybrid, Hydrogen) By Vehicle Type, By Region - Industry Forecast 2025-2032

Automotive Fuel Tank Market size was valued at USD 18.33 Billion in 2023 and is poised to grow from USD 19.26 Billion in 2024 to USD 28.69 Billion by 2032, growing at a CAGR of 5.1% during the forecast period (2025-2032).

A fuel tank is considered to be a crucial automotive component as it stores and protects the flammable fluid gas. The fuel tank is an integral part of the vehicle that is integrated with the engine and pumps the fuel in the form of pressurized gas as and when needed. The tank protects the flammable gas from direct contact with the atmosphere and keeps the fire out of reach. Depending on the type of vehicle, the tank varies in size, design, capacity, and is made up of materials like plastic and metal. Plastic tanks are light in weight and are majorly used in passenger cars. Thus, increasing the production of passenger cars is majorly responsible for the increase in demand for plastic tanks. The automotive manufacturing companies are spending a high percentage of funds on research to develop lightweight automobiles. The lightweight of vehicles reduces fuel consumption to a great extent. Also, the reduced weight of the vehicle helps in minimizing the carbon dioxide emission from vehicles. The automotive OEMs are expanding their production volume to meet the rising demand for automobiles across the globe thereby creating a surge in the demand for automotive fuel tanks. The stringent environmental regulations imposed by the government to curb the increasing air pollution is fuelling the demand for the implementation of lightweight materials in vehicles.

US Automotive Fuel Tank Market is poised to grow at a sustainable CAGR for the next forecast year.