IMARC Group, a leading market research company, has recently releases report titled “2-Wheeler Fuel Tank Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global 2-wheeler fuel tank market trends, size, share, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the 2-wheeler fuel tank market?
The global 2-wheeler fuel tank market size reached US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 2.30% during 2023-2028.
What is 2-Wheeler Fuel Tank?
The fuel tank is an essential component of a two-wheeler, such as a motorcycle or scooter that stores and supplies fuel to the engine. It is specifically designed to hold the vehicle’s fuel, mainly gasoline or petrol. The fuel tank plays a crucial role in providing a steady and uninterrupted fuel supply to the engine during operation. 2-wheeler fuel tanks are commonly manufactured of steel, aluminum alloy, or high-density polyethylene (HDPE). Most 2-wheeler fuel tanks have a built-in fuel level indicator or fuel gauge. This indicator helps riders monitor the fuel level and estimate the remaining range before refueling. The fuel level indicator can be mechanical by using a float mechanism or electronic via using sensors and is usually displayed on the vehicle’s instrument cluster.
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What are the growth prospects and trends in the 2-wheeler fuel tank?
The increasing demand for motorcycles and scooters among the masses is one of the major factors driving the global market. This can be attributed to rapid urbanization, improved transportation infrastructure, inflating disposable income levels, and the rising need for affordable and convenient personal transportation. Moreover, continuous advancements in materials, manufacturing processes, and design technologies are positively influencing the 2-wheeler fuel tank market. As manufacturers are adopting lightweight materials, such as aluminum alloys and high-density polyethylene (HDPE), to reduce vehicle weight and improve fuel efficiency. The market is further driven by the replacement of tanks due to wear and tear, damage, or customization. Other factors, including continual improvements in the automotive sector, the increasing manufacturing and selling of 2-wheeler vehicles and extensive research and development (R&D) activities conducted by key players to introduce improved product variants, are also positively influencing the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Market Breakup by Capacity:
- Less than 20 Liters
- More than 20 Liters
Market Breakup by Application:
- Scooters
- Pocket-friendly Motorcycles
- Jumbo Motorcycle
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Dee India Overseas LLC
- Goshi Giken Co. Ltd. (Yachiyo Industry Co. Ltd.)
- Harley-Davidson Inc.
- Royal Enfield (Eicher Motors Limited)
- Satyam Auto Components Pvt. Ltd.
- Vintage Bike Zone
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