Market Size of 2 Wheeler Fuel Tank Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Two Wheeler Fuel Tank Market Analysis
The 2-Wheeler Fuel Tank Market was valued at USD 3520 million in 2020, and it is expected to reach USD 4313 million by 2026, registering a CAGR of above 3% during the forecast period (2021 - 2026).
The COVID-19 pandemic has hindered the growth of the 2-wheeler fuel tank market due to supply chain disruptions and a halt of production in manufacturing units. Additionally, growing penetration and demand for electric motorcycles, and the enactment of stringent emission norms, may hinder the growth of the market.
However, the market is expected to regain its growth during the forecast period due to changing consumer preferences towards motorcycles over other public transportation systems to maintain safe and hygiene conditions in the wake of the pandemic. The rise in demand for vehicle production increases the demand for automotive fuel tanks.
Plastic fuel tanks are mainly light in weight and used in passenger cars. Thus, the rise in demand for passenger cars simultaneously increases the demand for plastic fuel tanks. An increase in the production of environmentally friendly fuel tanks also acts as a driver generating demand in this market.
The Asia Pacific region holds the largest market share in the automotive fuel market. The leading contributor is China (the major consumer and producer of automobiles in the global market) and other contributors from Japan, South Korea, and India. Europe and North America have announced inflexible evaporative emission standards, which increases the demand for plastic fuel tanks in those regions.
Two Wheeler Fuel Tank Industry Segmentation
A 2-Wheeler fuel tank is a container that contains fuel. It is a special container that hydraulic system stores hydraulic fluid or hydraulic fluid. The 2-Wheeler fuel tank market covers the latest trends and COVID-19 impact, followed by technological developments in the market. The scope of the report covers segmentation based on capacity type and geography.
By capacity type, the market is segmented into less than 20 liters and more than 20 liters. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecast have been done based on value (USD million).
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| Less than 20 Liters | |
| More than 20 Liters |
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2 Wheeler Fuel Tank Market Size Summary
The 2-Wheeler Fuel Tank Market is poised for growth, driven by shifting consumer preferences towards motorcycles as a safer and more hygienic mode of transportation post-pandemic. The market, which faced challenges due to COVID-19-induced supply chain disruptions and production halts, is expected to recover as demand for vehicle production rises. The increasing popularity of plastic fuel tanks, known for their lightweight properties, particularly in passenger cars, is also contributing to market expansion. The Asia-Pacific region, led by China, India, Japan, and South Korea, dominates the market due to its significant automotive production and consumption. The region's growth is further supported by favorable government initiatives and a burgeoning demand for affordable motorcycles with smaller fuel tank capacities, which offer better mileage and lower maintenance costs.
Globally, the market is moderately consolidated, with key players like JBM Group, Luxam DK Jain Group, and Harley Davidson playing significant roles. These companies are actively expanding their manufacturing capabilities and forming strategic partnerships to enhance their market presence. The demand for scooters is rising, driven by social advancements and the need for comfort, while the premium segment for mid and large-sized motorcycles is expanding due to increased interest in high-performance bikes. In China, the two-wheeler market is expected to grow rapidly, fueled by logistics operators and e-commerce companies, alongside private buyers. This growth trajectory is anticipated to continue, with major manufacturers launching new models to meet the increasing demand.
2 Wheeler Fuel Tank Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Capacity
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2.1.1 Less than 20 Liters
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2.1.2 More than 20 Liters
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2.2 By Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Spain
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2.2.2.5 Rest of Europe
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2.2.3 Asia Pacific
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2.2.3.1 India
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2.2.3.2 China
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2.2.3.3 Japan
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia Pacific
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2.2.4 Rest of the World
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2.2.4.1 South America
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2.2.4.2 Middle-East and Africa
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2 Wheeler Fuel Tank Market Size FAQs
What is the current 2 Wheeler Fuel Tank Market size?
The 2 Wheeler Fuel Tank Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in 2 Wheeler Fuel Tank Market?
JBM Group, Goshi Giken, AG Industries, Lumax DK Jain Group and Harley-Davidson are the major companies operating in the 2 Wheeler Fuel Tank Market.
