Truck Tank Market - Introduction
Expansion of the automobile industry is transforming the shape, size, and structure of components and parts in vehicles. Currently, manufacturers are emphasizing on lightweight components and parts that are reliable, durable, and help improving the efficiency of the vehicle. Truck Tank are used to store the fuel, which is used to power the vehicle. The composition of the Truck Tank are more solid and tough, as compared to fuel tanks of other kinds of vehicles. Truck tanks are made of high strength material that is more durable and is able to carry more fuel.
Utilization of trucks is for very tough and difficult works, which require higher strength of parts and components. The Truck Tank are made of various materials including aluminum, plastic, and steel, due to their strength and light weight. Increasing demand for commercial vehicles is a key factor boosting the truck tank market. The average running miles of a truck has increased, which requires higher capacity tanks to store fuel.
Truck Tank Market – Competitive Landscape
Continental AG was founded in 1871, and currently has headquarters in Hanover, Germany. Continental AG is a leading supplier of components in the automobile industry. The company operates through two major groups: automotive group and rubber group, which is further divided into various business verticals such as powertrain, chassis & safety, interior, tires and services. The company has a global presence and operates through several locations across the Americas, Africa, Europe, and Middle East & Africa.
Plastic Omnium was founded in 1946, with headquarters in Levallois, France. The company manufactures interior and exterior body parts of the vehicle. It also manufactures bumpers, tailgate, and driving assistance radars and sensors. The company has nearly 29,000 employees across the globe. Plastic Omnium has operations across the globe, including India, China, Israel, japan South Korea, the U.K., and France.
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Magna International Inc.
Magna International Inc. was founded in 1957 and currently its headquarters are located in Ontario, Canada. The company is a major supplier of new technology and body components for the automobile industry. It has over 174,000 employees working across 338 manufacturing units and 89 product development plants spread in more than 28 countries worldwide. The company operates majorly in body exteriors & structures, tanks, power & vision, ADAS & Automated Driving, seating systems.
Posco Co. Ltd
Posco co. Ltd was founded in 1968 and currently its headquarters are located in Pohang, South Korea. The company provides services and products to six industries: automotive, construction, shipbuilding, energy, home appliances, and industrial machinery. Posco also manufactures body parts, chassis, and EV battery packs.
Rising demand for commercial vehicles
Rising demand for commercial vehicles is a major factor driving the Truck Tank market. Demand for commercial vehicles increased due to expansion of business and fleets between countries, states, and cities. Expansion of fleet is a major factor driving the demand for commercial vehicles, which in turn is boosting the Truck Tank market.
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Truck Tank Market – Segmentation
The global truck tanks market can be segmented based on:
- Sales Channel
- Vehicle Type
Truck Tank Market – By Capacity
Based on capacity, the Truck Tank market can be classified into:
- Less than 50 L
- 50 L-100 L
- 100L -200L
- Above 200 L
Truck Tank Market – By Sales Channel
Based on sales channel, the Truck Tank market can be bifurcated into:
Truck Tank market – By Vehicle Type
Based on vehicle type, the Truck Tank market can be segregated into:
- Light Commercial Vehicle
- Medium and heavy
The report on Truck Tank market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Truck Tank market report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Truck Tank market report also maps the qualitative impact of various market factors on Truck Tank market segments and geographies.
Regional analysis for Truck Tank market includes:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.