Collapsible Fuel Tank Global Market Report 2022
Major players in the collapsible fuel tank market are Meggitt plc, GTA Containers, Aero Tec Laboratories Ltd, Amufuel, MPC Containment International LLC, Avon Engineered Fabrications Inc, SO. C. A. P, SEI Industries LTD, ContiTech, Texas Boom Company, Husky Portable Containment, Vinyl Technology Inc, TURTLE- PAC, Ready Containment LLC, Qingdao DOOWIN Rubber and Plastic Products Co.
New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Collapsible Fuel Tank Global Market Report 2022" - https://www.reportlinker.com/p06351368/?utm_source=GNW
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The global collapsible fuel tank market is expected to grow from $1.20 billion in 2021 to $1.30 billion in 2022 at a compound annual growth rate (CAGR) of 8.4%. The collapsible fuel tank market is expected to grow to $1.82 billion in 2026 at a compound annual growth rate (CAGR) of 8.7%.
The collapsible fuel tank market consists of sales of collapsible fuel tank products by entities (organizations, sole traders, and partnerships) that are manufactured using industrial fabrics for the storage of fuel.Collapsible fuel tanks are pillow-shaped and equipped with various plates and accessories for filling and emptying.
A collapsible fuel tank allows storage of hydrocarbons, oil, drinking water, and wastewater and can be used as a mobile service station. It can be deployed quickly and easily.
The main types of collapsible fuel tanks are small capacity, medium capacity, and large capacity collapsible fuel tanks.The small capacity collapsible fuel tank refers to the tanks with 25 to 100 gallons capacity used for storing fuel.
The various materials include polyurethane, and composite material and are used by end users such as agriculture, mining, military application, commercial, and other end users.
North America was the largest region in the collapsible fuel tank market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The collapsible fuel tank market research report is one of a series of new reports that provides collapsible fuel tank market statistics, including collapsible fuel tank industry global market size, regional shares, competitors with a collapsible fuel tank market share, detailed collapsible fuel tank market segments, market trends and opportunities, and any further data you may need to thrive in the collapsible fuel tank industry. This collapsible fuel tank market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 April 2021, according to the International Energy Agency report, a France-based global energy system intergovernmental organization, the number of electric vehicles sold worldwide reached 10 million in 2020, an increase of 43% from the previous year.
In 2020, there were about 3 million new electric vehicle registrations. With 1.4 million new registrations, Europe took the lead for the first time. China registered 1.2 million new electric automobiles after the United States registered 2.9 million. Therefore rising demand for electric vehicles is driving the collapsible fuel tanks market.
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 September 2019, Magam-Safety Ltd, an Israel-based manufacturer of protective, rescue, and survivability equipment unveiled a new capability of its self-sealing flexible fuel tank that offers unique features by preventing fuel leakage caused by ballistic damage following penetration of up to a 30mm bullet. Magam’s self-sealing technology is based on mechanical and chemical advances that prevent leakage by self-sealing the holes within 0.1 ms, reducing the ignition potential of fuel leaks, and thus saving lives and equipment.
In May 2022, Tank Holding Corp, a US-based manufacturer of rotationally molded poly and welded steel bulk storage and material handling products acquired Semco Plastic Company Inc for an undisclosed amount.This acquisition, aids to invest Tank Holdings into adjacent plastic processing technologies while continuing to demonstrate our commitment to providing its customer’s further capabilities.
Semco Plastic Company is a US-based manufacturer of a variety of custom-molded plastic products for a wide spectrum of industries operating in the collapsible fuel tanks market.
The countries covered in thecollapsible fuel tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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