(MENAFNEditorial) iCrowdNewswire - Feb 23, 2018 Global is anticipated to grow at a higher CAGR in the estimated period. A fuel tank is also called as the petrol tank or gasoline tank that acts a safe storage for flammable liquids in an automobile. The size of the tank ranges in size and complexity in various fleets of vehicles. For instance, the size may be 3-4 times larger in multi-axle trucks than in passenger cars. HDPE (High-Density Polyethylene) or plastic is used a construction material for fuel tank which has the potential to store flammable liquids and protect the fuel against environment stress.
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On the other hand, the fuel tank caps can be lock enabled to safeguard the fuel in the fuel tank. Lock enabled fuel tanks have a high significance from the commercial point of view. Driving factors responsible for the growth of automotive fuel tank caps and locks market include advantages offered by automotive fuel tank caps and locks such as robustness and lower fuel evaporation and government norms to lessen pollution emitted in form of carbon dioxide also adds to the market growth. Also, the rise in safety concerns among automobile users boosts the market growth in the estimated period.
Based on segmentation by type, the automotive fuel tank and caps and locks market include non-vented, vented, locking, non-locking, with legs and with knobs. Based on segmentation by lock type, the market is segmented into center lock and sideways lock. Based on segmentation by product, the global market includes plastic screw, chrome finish push in, plastic push and turn and metal bayonet. On the basis of market segmentation, the automotive fuel tank caps and locks market include aftermarket and original equipment manufacturer (OEM).
Geographically, automotive fuel tank caps and locks market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC market dominates the global market due to rise in sales of automobile across the market regions. North America dominates the global market owing to significant number of automobile industries and growth in number of automobile users. MEA regions are currently in the budding stage in the market and expected to show modest CAGR growth in the estimated period.
The key players in the automotive fuel tank caps and locks market include Fueloyal Inc, Gates Corporation, Autocaps Aust Pty Ltd, Tridon Australia, Gaslock, Stant, Hartwig Fuel Cell Repair, Ronis, Velvac Inc andNewton Equipment Ltd.
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