The Collapsible Fuel Tank by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Collapsible Fuel Tank, The collapsible fuel tank market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased demand for portable fuel storage solutions, growth in the automotive and motorsports industry, adoption of collapsible fuel tanks in emergency response and disaster relief, advances in material technology for durable and flexible fuel tank designs, expansion of the aviation industry.
The collapsible fuel tank market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to growth in the marine industry, increasing adoption of collapsible fuel tanks in off-road and recreational vehicles, expansion of the renewable energy sector, adoption of collapsible fuel tanks in remote and off-grid power generation, surge in demand for collapsible fuel tanks in the aerospace sector. Major trends in the forecast period include development of lightweight and space-saving collapsible fuel tank designs, integration of smart technologies for fuel level monitoring and management, emphasis on eco-friendly and recyclable materials in collapsible fuel tank production, customization of collapsible fuel tanks for specific industry requirements, collaboration between fuel tank manufacturers and end-users .
Rising demand for electric vehicles is expected to propel the growth of the collapsible fuel tank market going forward. Electric vehicles refer to vehicles that use electricity to improve vehicle efficiency. Fuel tanks for extended-range electric vehicles need to be able to endure high vapor pressures allowing optimization of the vehicle’s full electric operating range driving mode, as a result, rising demand for electric vehicles increases the demand for collapsible fuel tank market. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, rising demand for electric vehicles is driving the collapsible fuel tanks market.
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The collapsible fuel tank market covered in this report is segmented –
1) By Type: Small Capacity, Medium Capacity, Large Capacity
2) By Fabric Material: Polyurethane, Composite Material
3) By End User: Agriculture, Mining, Military Application, Commercial, Other End Users
Product innovations have emerged as a key trend gaining popularity in the collapsible fuel tank market. Major companies operating in the collapsible fuel tank market are developing new products to strengthen their position in collapsible fuel tank market. For instance, in July 2022, Interstate Products, a US-based multi-brand supplier of quality environmental, facility, storage, and safety product solutions, launched expanded flexible fuel bladder. With storage bladders for high amounts of gasoline and water, the firm now offers portable liquid storage solutions. They are suitable for most diesel and jet fuels and can be utilised as an above-ground storage tank. Military-grade nitrile and mil-spec urethane are also available in the normal sizes for the industry (50,000, 100,000, and 210,000 gallons). Custom-engineered solutions can also be provided.
The collapsible fuel tank market report table of contents includes:
- Executive Summary
- Collapsible Fuel Tank Market Characteristics
- Collapsible Fuel Tank Market Trends And Strategies
- Collapsible Fuel Tank Market – Macro Economic Scenario
- Global Collapsible Fuel Tank Market Size and Growth
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- Global Collapsible Fuel Tank Market Competitive Benchmarking
- Global Collapsible Fuel Tank Market Competitive Dashboard
- Key Mergers And Acquisitions In The Collapsible Fuel Tank Market
- Collapsible Fuel Tank Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- Meggitt PLC
- GTA Containers Inc
- Aero Tec Laboratories Ltd
- Amufuel
- MPC Containment International LLC
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