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The global fuel storage containers market is expected to rise at a 4.5% value CAGR, likely to reach US$ 40.57 Billion during the forecast period of 2022-2032. This can be attributed to the increasing demand for fuel storage containers that are designed to store and transport fuels, such as diesel and gasoline. The emergence of new technologies for fuel storage containers, such as advanced materials and advanced production processes, is expected to drive the market growth. Furthermore, the use of fuel storage containers in the military and defense sectors is estimated to propel the market growth.
The increasing demand for fuel storage containers from the transportation industry is expected to be one of the major drivers of the market. This is attributed to the increasing demand for fuel storage containers to store and transport fuels, such as diesel and gasoline. Furthermore, the growing demand for fuel storage containers from the automotive industry is expected to have a positive impact on the market.
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Recent Trends
Increasing Demand for Portable Fuel Storage Containers: Portable fuel storage containers are increasingly in demand due to their easy mobility and convenience. Portable fuel storage containers are ideal for storing fuel for small applications such as camping and recreational activities. Growing Demand for Automated Fuel Storage Containers: Automated fuel storage containers offer several advantages over traditional containers such as enhanced safety, lower environmental risk and better fuel management. Automated fuel storage containers are being increasingly adopted by large commercial and industrial facilities. Growing Adoption of Fuel Storage Containers with Bunded Design: Bunded fuel storage containers are becoming increasingly popular due to their ability to contain spillage. Bunded fuel containers are designed to contain any fuel spills that may occur during filling or refuelling. Increasing Preference for Above Ground Fuel Storage Containers: Above ground fuel storage containers are gaining popularity due to their convenience and ease of use. Above ground fuel storage containers are ideal for storing fuel for long periods of time and are also safer than underground storage containers. Development of Smart Fuel Storage Containers: Smart fuel storage containers are being developed to provide users with enhanced features such as remote monitoring and automated refuelling. Smart fuel storage containers are expected to gain traction in the coming years. Key Market Imperative
Prominent manufacturers of fuel storage containers are eyeing technological innovations in order to provide the most accurate and precise storage arrangements to their customers.
In January 2021, TI Fluid Systems announced its decision to provide a new generation of plastic fuel tank design capable of meeting the stringent pressure demands within a hybrid electric vehicle (HEV). Recently, this plastic fuel tank launched in volume production with Volkswagen China on the Passat and Magotan plug-in hybrid electric vehicle (PHEV) models, with a planned adoption across a wider range of global platforms. In March 2022, Toyota Motor Corporation (Toyota) announced that it has developed a hydrogen storage module that integrates multiple resin high-pressure hydrogen tanks at 70 MPa for automobiles?already proven in the“Mirai” fuel cell vehicle (FCEV) ?and safety devices such as a hydrogen detector and an automatic shut-off switch. Toyota will be exhibiting a conceptual model of this module at the FC Expo (International Hydrogen & Fuel Cell Expo) held at Tokyo Big Sight (Koto-ku, Tokyo) from March 16 to 18.
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The emergence of new technologies for fuel storage containers, such as advanced materials and advanced production processes, is expected to drive the market growth. Additionally, the increasing demand for fuel storage containers from the military and defense sectors is expected to propel the market growth.
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Fuel Storage Containers Market by Product Type: Portable Fuel Containers 5 Gal. Portable Fuel Containers 5 Gal. Safety Portable Fuel Containers 275 Gal. IBC 55 Gal. Fuel Storage Drums
Fuel Storage Containers by Region: North America fuel storage containers Market Western Europe fuel storage containers Market Eastern Europe Fuel Storage Containers Market Asia Pacific excluding Japan Fuel Storage Containers Market Japan Fuel Storage Containers Market Latin America Fuel Storage Containers Market Middle East & Africa Fuel Storage Containers Market
The global Fuel Storage Containers report answers numerous pertinent questions, some of which are:
What are some of the latent areas of investments in the market? Which region is expected to emerge as showing the most attractive growth rate during the forecast period and which factors will be crucial to its growth? What trends are likely to change the status quo of the positions held by leading players of the market in the not-so-distant future? Which product/service/technology segments holds game-changing potential to dramatically shape the competitive dynamic in the market? What are the strategies adopted by top players to retain their stronghold in the market? Which strategic moves will new entrants adopt to gain a strong foothold in the market? What are COVID-19 implications on the market and learn how businesses can respond, manage, and mitigate the risks?
More Valuable Insights on Fuel Storage Containers
Fact.MR, in its new report, offers an unbiased Market Analysis of Fuel Storage Containers, Sales, Fuel Storage Containers, and analyzing forecast statistics through 2033 and beyond. The study reveals growth projections on the of various criteria.
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