Global Automotive Fuel Tank Market

The automotive fuel tank isa tank used to store, propel and release pressurized gas or fluid into automobile engine systems. The types of automotive fuel tanks by capacity include less than 45 liter, 45-70 liter, and above 70 liters. Less than 45 liter fuel tanks are used in hatchbacks and sedans and are classified as having a fuel tank capacity of less than 45 liters. The various materials used for automotive fuel tanks are aluminum, plastic, and steel. The various vehicles using automotive fuel tanks are passenger cars, light commercial vehicles, and heavy commercial vehicles. The automotive fuel tank market research report is one of a series of new reports from The Business Research Company that provides automotive fuel tank market statistics, including automotive fuel tank industry global market size, regional shares, competitors with an automotive fuel tank market share, detailed automotive fuel tank market segments, market trends and opportunities, and any further data you may need to thrive in the automotive fuel tank industry. This automotive 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. The global automotive fuel tank market size grew from $17.62 billion in 2022 to $19.17 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive fuel tank market size is expected to grow to $26.92 billion in 2027 at a CAGR of 8.9%. The increasing demand for passenger cars has contributed to automotive fuel tank growth. In addition to the driver's seat, passenger cars are vehicles having at least four wheels that are intended to transport passengers and have no more than eight seats. There has been quite a remarkable growth in the passenger car industry, and it has made steady progress in production, domestic sales and exports. For instance, the Society of Indian Automobile Manufacturers (SIAM) reported that sales of passenger cars in India increased by 8.36% in December 2020 compared to December 2019. Utility vehicle sales climbed by 19.75 % in 2020 over December 2019. Van sales increased by 41.06 % in 2020 over December 2019. Hence, the rise in the demand for passenger cars is driving the the automotive fuel tank market. Technological advancements in fuel-efficient vehicles and alternate fuel vehicles is a key trend gaining popularity in the automotive fuel tank market. Modern automobiles require advanced materials to improve fuel economy while retaining safety and performance. Lightweight materials have a lot of potential for improving vehicle efficiency because it requires less energy to accelerate a lighter item than a heavy one. A 10% reduction in vehicle weight might result in a 6% to 8% increase in fuel economy. A vehicle's body and chassis can be decreased by up to 50% by replacing cast iron and traditional steel components with lightweight materials such as high-strength steel, magnesium (Mg) alloys, aluminium (Al) alloys, carbon fibre, and polymer composites. In one quarter of the US fleet, using lightweight components and high-efficiency engines enabled by new materials may save more than $5 billion gallons of fuel annually by 2030. Cars can carry more complex pollution control systems, safety devices, and integrated electrical systems without adding to the total weight of the vehicle by adopting lightweight structural materials. In May 2022, Tank Holding, a US-based rotational molding company, acquired Semco Plastic Company for an undisclosed amount. The acquisition is in line with the company’s strategy to invest in adjacent plastic processing technologies while working towards providing customers with better product offerings. Semco Plastic company is a US-based manufacturer of blow and injection molded products such as fuel tanks, fuel containers, refuse containers, and other products. Major players in the automotive fuel tank market are The Plastic Omnium Group; Yapp Automotive Parts Co. Ltd; TI Fluid Systems; Yachiyo Industries Co. Limited; Unipres Corporation; Magna International; Fuel Total Systems (FTS) Co. Ltd; Compagnie Plastic Omnium SA; Kautex Textron GmbH & Co. KG; Martinrea International Inc.,; Unipres Corporation; Textron – KautexV (US); Benteler International AG; Allgaier Werke GmbH; Dali and Samir Engineering; Westport Fuel Systems Inc.,; Posco co. Ltd; Allgaier Automotive; Baosteel group corporation; Kongsberg Automotive; Toyoda Gosei Co. Ltd.; Visteon Corporation; Donghee Industrial CO. LTD.; FUTABA INDUSTRIAL CO. LTD.; Northside Industries; SMA SERBATOI SPA; Spectra Premium Inc.,; Allgaier Automotive; Boyd Welding. Asia-Pacific was the largest region in the automotive fuel tank market in 2022 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fuel tank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Automotive Fuel Tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The automotive fuel tank market consists of sales of Type 1, Type 2, Type 3, and Type 4. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global automotive fuel tank market is segmented - 1) By Capacity: Less than 45 Liters, 45-70 Liters, Above 70 Liters 2) By Material Type: Aluminum, Plastic, Steel 3) By Vehicle Type: Passanger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles

Motor vehicle refers to any land vehicle that is not propelled by human muscle power, including cars, motorbikes, autocycles, and slow-moving vehicles. An engine or motor, typically an internal combustion engine, an electric motor, or a hybrid of the two, such as a plug-in hybrid or hybrid electric vehicle, provides the propulsion for the vehicle. The main types in the motor vehicle market are motorcycles and bicycles, passenger cars and commercial vehicles. A commercial vehicle refers to a vehicle that is used for commercial purposes. The various fuel types include gasoline, diesel, and other fuel types. These have an engine capacity of 1000 cc, 1000-1500 cc, 1500-2000 cc, and >2000 cc . These have propulsion types such as ic engines and electric vehicles. The motor vehicle market research report is one of a series of new reports from The Business Research Company that provides motor vehicle market statistics, including motor vehicle industry global market size, regional shares, competitors with a motor vehicle market share, detailed motor vehicle market segments, market trends and opportunities, and any further data you may need to thrive in the motor vehicle industry. This motor vehicle market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global motor vehicles market grew from $2398.24 billion in 2022 to $2643.91 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The motor vehicles market is expected to grow to $3818.12 billion in 2027 at a CAGR of 9.6%. The motor vehicle market is aided by the stable economic growth forecasted in many developed and developing countries. The International Monetary Fund (IMF) predicts that global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market's growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the motor vehicle market during the forecast period. The outbreak of COVID-19 disease (COVID-19) has acted as a massive restraint on the motor vehicle market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and has spread globally, including Western Europe, North America, and Asia. Transportation manufacturers depend heavily on the supply of parts and components from different countries across the globe. As many governments restricted the movement of goods across countries, manufacturers had to halt production due to a lack of parts and components. Also, sales of new automobiles decreased significantly due to a decline in consumer demand as many countries-imposed lockdowns. The outbreak is expected to continue to hurt businesses throughout 2020 and into 2021. However, it is expected that the motor vehicle market will recover from the shock over the forecast period as it is a "black swan" event and not related to ongoing or fundamental weaknesses in the market or the global economy. Motor vehicle manufacturers, especially car manufacturers, are increasingly focusing on the commercialization of cars with active window displays. The active window displays will show all key driving information on the windshield. It shows information such as navigation instructions, fuel level information, vehicle speed, and other information. Some car manufacturers are also offering technologies that can be fixed on the dashboard of a car. For instance, in 2021, Huawei revealed its latest innovation at the Munich International Automobile Expo in Germany. The new AR HUD technology is an augmented reality-based system that transforms a car's front windshield into a smart display . Major companies in the motor vehicle market include Volkswagen AG, Toyota Motor Corp, Daimler AG, Ford Motor Co, Honda Motor Co Ltd., Fiat Chrysler Automobiles NV, SAIC Motor Co Ltd., EXOR Group, Bayerische Motoren Werke AG, and Hyundai Motor Co Ltd. Asia-Pacific was the largest region in the motor vehicles market in 2022. North America was the second largest market in motor vehicles market. The regions covered in the motor vehicle parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa. The countries in the motor vehicles market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The motor vehicle market consists of sales of bicycles and parts, motor scooters, other motorcycle and bicycle, hatchback, sedan, utility vehicle, light commercial vehicle, heavy trucks, buses and coaches. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global motor vehicles market is segmented - 1) By Type: Motorcycle And Bicycle, Passenger Car, Commercial Vehicle 2) By Fuel Type: Gasoline, Diesel, Other Fuel Types 3) By Engine Capacity: <1000 cc, <1000-1500 cc, <1500-2000 cc, >2000 cc 4) By Propulsion Type: IC Engine, Electric Vehicle Subsegments Covered: Motorcycles And Parts, Bicycles And Parts, Motor Scooters, Other Motorcycle And Bicycle, Hatchback, Sedan, Utility Vehicle, Light Commercial Vehicle, Heavy Trucks, Buses And Coaches

The vehicle engine and engine parts are components that generate the power needed to propel a car or other vehicle. The main types of vehicle engines and engine parts are vehicle engines and vehicle engine parts. Vehicle engines are referred to as the engines that are used for vehicles, and there are many engine propulsion systems involving the parts of the vehicle. The various placement types are in-line engines, W engines, and V-types. The various fuel types are gasoline (petrol), diesel, gas, and other fuel types. The vehicle engine and engine parts market research report is one of a series of new reports from The Business Research Company that provides vehicle engine and engine parts market statistics, including global market size, regional shares, competitors with a vehicle engine and engine parts market share, detailed vehicle engine and engine parts market segments, market trends and opportunities, and any further data you may need to thrive in the vehicle engine and engine parts industry. This vehicle engine and engine parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry. The global vehicle engine and engine parts market size will grow from $401.40 billion in 2022 to $438.55 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global vehicle engine and engine parts market size is expected to grow to $600.27 billion in 2027 at a CAGR of 8.2%. The increasing manufacturing of automobiles is expected to drive the vehicle engine and engine parts market. Automobile manufactures use different engine components and engine parts for manufacturing a vehicle. According to statistics from the International Organization of Motor Vehicle Manufacturers, a Paris based international automobile trade association, the total number of vehicles produced globally, from January to September 2021 increased to 57.2 million units from 52.1 million units in 2020, during the same period. Therefore, the increasing production of vehicles around the world is expected to drive the vehicle engine and engine parts market. The growth of the vehicle engine and engine parts market is restricted by the growing popularity of electric vehicles all over the world. These battery-operated cars are not only easier to maintain but also do not contribute to air pollution. The popularity of the electric car market is backed up by several government initiatives, such as in Norway, where the drivers of zero-emissions cars are not only exempted from road tax but also exempted from 25% VAT on sales, reduced road and ferry tolls and parking costs, and access to bus lanes. the number of electric cars employed on the road reached 10 million in 2020. In 2021, According to mobi.com, China remained the world's largest car market. According to reports by the International Energy Agency (IEA), in 2021, electric car sales were more than doubled reaching 6.6 million, representing close to 9% of the global car market. With the increasing popularity of electric vehicles, the demand for engine-operated vehicles is negatively impacted, thus causing an overall fall in demand for the vehicle engine and engine parts market. Declining sales in the automobile sector restrict the growth of the vehicle engine and engine parts market. The decline in demand for automobiles in various economies causes lower demand for new engines and engine parts manufacturers. According to the International Organization of Motor Vehicle Manufacturers, global car production fell by 16% in 2020. In India, the Society of Indian Automobile Manufacturers said, there was decline in passenger car sales from 1,541,866 in 2021 to 1,467,056 units in 2022. The companies operating in the vehicle engine and engine parts market are investing in improving the fuel efficiency of internal combustion engines. Manufacturers are producing engines that deliver more power and improve fuel economy. Improving the fuel efficiency of vehicle engines serves as an economical solution as well as reduces the emission of harmful pollutants into the air. For instance, to improve fuel efficiency, companies are investing in ' direct fuel injection' technology in which the direct injection systems spray a fine mist of fuel directly into the cylinder, helping keep the engine's temperature down and increasing fuel efficiency. Also, as reported by the U.S Department of Energy, direct fuel injection can improve engine efficiency by 12%. Thus, with increased concerns for the environment and to provide a better value for money, companies operating in the market are investing more towards improving the fuel efficiency of the engines. In May 2022, Melling Engine Parts, a US-based manufacturer of aftermarket oil pumps and related products, acquired Sigma Engineering for an undisclosed amount. Through this acquisition, Melling Engine Parts will focus on controlling their supply and quality. Sigma Engineering is a US-based diesel and gas engine parts company. Major players in the vehicle engine and engine parts market are Cummins, Toyota Motor, Denso Corporation, Delphi Automotive PLC., Federal-Mogul Corporation, Mahle GmbH, BMW AG, General Motors, Volkswagen AG, and Fiat Automobiles SpA. Asia-Pacific was the largest region in the vehicle engine and engine parts market in 2022. Western Europe was the second largest market in the global vehicle engine and engine parts market. The regions covered in the global vehicle engine and engine parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the vehicle engine and engine parts include Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia. The vehicle engine and engine parts market consist of sales of engine, transmission, driveshaft, axles, head, block, oil sump and differential. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global vehicle engine and engine parts market is segmented - 1) By Product Type: Vehicle Engines, Vehicle Engine Parts 2) By Fuel Type: Gasoline (Petrol), Diesel, Gas, Other Fuel Types 3) By Placement Type: In-line Engine, W Engine and V-Type

The refined petroleum products are derived by refining petroleum. The refined petroleum products have different physical and chemical properties depending on the kind of crude oil and subsequent refining procedures. The main types of petroleum products are diesel, gasoline, fuel oil, kerosene, and other refined petroleum products. Gasoline is a petroleum-based fuel made from crude oil and other liquids. Gasoline is primarily used in vehicles as an engine fuel. The various fraction includes light distillates, middle distillates, heavy oils, and the different refinery type are integrated refined petroleum product and non-integrated refined petroleum product. The applications of refined petroleum products are fuel, chemicals, and others. The refined petroleum products market research report is one of a series of new reports from The Business Research Company that provides refined petroleum products market statistics, including refined petroleum products industry global market size, regional shares, competitors with a refined petroleum products market share, detailed refined petroleum products market segments, market trends and opportunities, and any further data you may need to thrive in the refined petroleum products industry. This refined petroleum products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global refined petroleum products market grew from $2,616.61 billion in 2022 to $2,703.40 billion in 2023 at a compound annual growth rate (CAGR) of 3.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The refined petroleum products market is expected to grow to $3,011.98 billion in 2027 at a CAGR of 2.7%. Refineries are increasingly adopting Carbon Capture and Storage techniques to reduce CO2 emission levels in the atmosphere. This technique involves trapping CO2 at its emission source and transporting it to a different storage location which is actively monitored and measured. This way CO2 is isolated from the atmosphere, thereby reducing emission levels. For instance, Quest, a partnership venture of Shell, Canada Energy, and Chevron is fully integrated CCS project that captures CO2 produced from refineries and prevents it from entering the atmosphere by storing it in underground formations. Globally there are about 15 large scale projects and 7 under construction projects with the capacity to capture about 40 million tonnes CO2 per annum, thus indicating the potential of CCS technology in minimizing carbon emissions. For Instance, some of the major companies adopting this technique include ExxonMobil, Port Arthur Refinery, Baytown Refinery, RasTanura Refinery, and Garyville Refinery. To reduce the pollution levels, companies have started adopting gas-to-liquid technology, which produces high-quality petroleum products. Gas to liquid technology is the conversion of natural gas to high quality liquid products such as transportation fuels, motor oils, naphtha, diesel, and waxes. This technology uses natural gas as a substitute for crude oil as gas is considered to be the cleanest burning fossil fuel and is abundant, versatile, and easily affordable. The by- products obtained by using the GTL technology are colorless, odorless, and contain negligent amounts of impurities. For Instance, Shell, Chevron, and PetroSA have adopted this technology to produce transportation fuels, oils, and by-products to produce plastics, detergents, and cosmetics. Major companies in the market include Royal Dutch Shell, BP plc, Exxon Mobil, PJSC Lukoil, Chevron, Total SA, Marathon Petroleum Corporation, Valero Energy Corp, Saudi Aramco, and Bharat Petroleum Corporation Limited. Asia-Pacific was the largest region in the refined petroleum products market in 2022. Western Europe was the second largest region in the global petroleum products market. The regions covered in the oil and gas supporting activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the oil and gas supporting activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam. The refined petroleum products market consists of sales of diesel fuel, jet fuel, liquid petroleum gases, asphalt and asphalt products. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global refined petroleum products market is segmented - 1) By Type: Diesel, Gasoline, Fuel Oil, Kerosene, Other Refined Petroleum Products 2) By Fraction: Light Distillates, Middle Distillates, Heavy Oils 3) By Refinery Type: Integrated Refined Petroleum Product, Non-Integrated Refined Petroleum Product 4) By Application: Fuel, Chemical, Other Applications

Tank wagon refers to a type of railroad car or rolling stock that is used as a tanker designed to transport liquid and gaseous commodities such as hazardous chemicals, oil and gas, crude petroleum oil, and other liquid commodities from fuel stations to rail stations on the rail transport system and on the road transport system to improve safety and reduce the chance of leakage of hazardous liquids. The main types of tank waggons covered in this report are pressurised railroad tank cars and general-purpose or non-pressurized tank cars. The pressurised railroad tank car was designed to carry chemicals and petroleum products efficiently and safely. It is also segmented by protection type into insulated and non-insulated and by application into crude oil, ethanol, liquefied gases, biofuels, milk, chemicals, and others. The tank waggons market research report is one of a series of new reports from The Business Research Company that provides tank waggons market statistics, including tank waggons industry global market size, regional shares, competitors with a tank waggons market share, detailed tank waggons market segments, market trends and opportunities, and any further data you may need to thrive in the tank waggons industry. This tank waggon market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global tank wagon market size will grow from $67.44 billion in 2022 to $70.56 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tank wagon market size is expected to grow to $82.63 billion in 2027 at a CAGR of 4.0%. Increased demand for liquids and gases as a raw material in the residential and petrochemical sectors that use railways as one of the modes of transportation is contributing to the growth of the tank waggon market. This upswing in need is due to the lockdown and ban on travelling which have happened worldwide. For instance, according to the Facts Global Energy (FGE) data, India is expected to buy 15.8 million tonnes of LPG from abroad in the 2020 year, which is 9% more than in 2019. Furthermore, FGE has also estimated that the Asia-Pacific region will buy 67–69.5 million tonnes of gas from abroad in 2020, which will be 1–3% more than in 2019. An increase in the need for PPE kits and cooking at home is causing a rise in demand for liquid and gas, which is fulfilled with the help of tank waggons to carry tonnes of these materials, thus driving the tank waggon market. The increased rate of accidents due to the high speed of railways is expected to limit the growth of the tank waggon market. These high accident rates can hamper the service provided by the rail tank waggons and also result in a loss of economy and fuel. For instance, in June 2020, in Andhra Pradesh, a state in India, tank waggons carrying oil got derailed due to high speed and caught fire, which caused a huge combustion of the oil. In February 2020, in Canada, a train with 19 waggons carrying dangerous goods got derailed due to high speed, causing an explosive fire. This led to the imposition of trains carrying hazardous goods. Thus, a rise in accidents is hampering the revenues generated for the tank waggon market. The launch of the internet of things (IoT) to fast-track the safety and compliance of rail tanks has created immense demand in the tank waggon market. The Internet of Things (IoT) empowers rail administrators to use internet-connected communication devices installed across infrastructure and rolling stock to increase safety. Moreover, there are many apps, such as the safety lock app, terminal automation app, and anti-roll-away apps, rolled out by TCS to digitalize the tank wagons. In November 2022, Heniff Transportation Systems, LLC., a US-based liquid chemical and food transportation company, acquired Coal City Cob Company, Inc. for an undisclosed amount. Through this acquisition, Heniff is able to maintain its industry-leading growth in the chemical sector of the tank truck market. In addition to a sizable rail-to-truck bulk transfer yard and tank wash facility at its headquarters in Waxahachie, Texas, Coal City Cob ("CCC") operates with more than 230 drivers and 500 trailers across its countrywide network of terminals. With a focus on maximizing customer, employee, and driver satisfaction, the current Heniff and CCC teams will collaborate closely to ensure a prompt and effective integration between the two networks. Coal City Cob Company, Inc. is a US-based company pioneering in the transportation of liquid and hazardous chemicals for various chemical and pharmaceutical companies. Major players in the tank wagons market are American Railcar Industries Inc., GATX, National Steel Car, The Greenbrier Companies, Trinity Industries Inc., Vertex Railcar, Union tank car company, American-Rails, Chongqing ChagnZheng Heavy Industry, TrinityRail Products, Caterpillar, Japan Oil Transportation., Kelso Technologies Inc., OmBesco Limited, Procor Limited, and VTG Aktiengesellschaft. Asia-Pacific was the largest region in the tank wagons market in 2022. North America was the second largest region in the global tank wagons market. The regions covered in the global tank wagons market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the tank wagons market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The tank wagon market consists of sales of corrosive liquid tanks, highly flammable product tanks, and gasoline tanks. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global tank wagons market is segmented - 1) By Tank Pressure Type: Pressurized Railraod tank car, General Purpose or Non-Pressurized tank car 2) By Protection Type: Insulated, Non-insulated 3) By Application: Crude Oil, Ethanol, Liquefied Gases, Bio Fuels, Milk, Chemicals, Other Applications

Fossil fuel electricity refers to electricity generated from establishments through the use of fossil fuels such as coal, oil, and natural gas as energy sources. Fossil fuels are buried combustible geologic deposits of organic materials, formed from decayed plants and animals, that have been converted to crude oil, coal, natural gas, or heavy oils by exposure to heat and pressure in the earth's crust. The main types of fuel in fossil fuel electricity are coal, oil, and natural gas. Coal is a flammable black or brownish-black sedimentary rock that is found in the form of coal seams. Coal is referred to as a fossil fuel because it is generated from once-living plants. The different sectors include residential, commercial, and industrial. The fossil fuel electricity market research report is one of a series of new reports from The Business Research Company that provides fossil fuel electricity market statistics, including fossil fuel electricity industry global market size, regional shares, competitors with a fossil fuel electricity market share, detailed fossil fuel electricity market segments, market trends and opportunities, and any further data you may need to thrive in the fossil fuel electricity industry. This fossil fuel electricity market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global fossil fuel electricity market size will grow from $988.95 billion in 2022 to $1,050.29 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global fossil fuel electricity market size is expected to grow to $1,313.7 billion in 2027 at a CAGR of 5.8%. The growing demand for electricity is expected to be a key driver of the fossil fuel electricity market in the forecast period. This can be attributed to growing economies and a rising population, especially in developing countries such as China, India, Brazil, and some African countries. According to the International Energy Agency (2019), global electricity demand rises at 2.1% per year by 2040, twice the rate of primary energy demand. This raises electricity’s share in total final power consumption from 19% in 2018 to 24% in 2040. Both China and India will account for a major portion of this growth. According to government data, India's energy consumption increased 13.38 percent to 110.94 billion units (BU) in October 2020, mainly driven by buoyancy in industrial and commercial activities. Furthermore, the global household appliances market is expected to grow to $396 billion by 2022, supporting the demand for electricity and driving the fossil fuel electricity market going forward. Governments globally are implementing regulations to reduce fossil fuel electricity due to rising environmental concerns. Fossil fuel power plants are major sources of toxic pollutants such as mercury, sulfur dioxide, and carbon emissions. Power generation accounts for about 40% of carbon emissions produced by the energy sector, or 25% of global greenhouse gas emissions. Regulatory bodies are enforcing stringent regulations on thermal power generation to control harmful effects on the environment. Regulations such as these are expected to increase the cost of procuring cheaper fossil fuel-based power, acting as a restraint on the fossil fuel electricity market. Governments globally are increasingly supporting the adoption of carbon capture and storage (CCS) technology across industries, including power generation. CCS withholds up to 90% of the carbon dioxide emissions produced by burning fossil fuels from entering the atmosphere. In CCS, carbon dioxide is first isolated from gases produced in power generation. It is then transported to be stored safely. The ADM Illinois Industrial Carbon Capture & Storage (ICCS) Project, for instance, isolates carbon dioxide from an ethanol manufacturing facility and stores it in a nearby deep saline formation, storing an estimated 1.1 million tonnes of carbon dioxide a year. In August 2021, ArcLight Capital Partners, LLC, a US-based company that focuses on energy infrastructure investments, acquired the 6,750 MW fossil-fuel plant portfolio of Public Service Enterprise Group (PSEG) for $1.92 billion. This acquisition is part of ArcLight Capital Partners LLC's growth into a clean energy infrastructure firm, which will help them achieve their goal of a low-carbon economy. Public Service Enterprise Group (PSEG) is a US-based electric services company that offers fossil-fuel electricity. Major players in the fossil fuel electricity market are Iberdrola SA, Huaneng Power International Inc., Engie SA, Enel SpA, State Power Investment Corporation Limited., AGL Energy Limited, Origin Energy Limited, EnergyAustralia Holdings Limited, Stanwell Corporation Limited, American Electric Power, Duke Energy, Southern Company, China Energy, China Power, NTPC, SSE, and Tokyo Electric Power Company. Asia-Pacific was the largest region in the fossil fuel electricity market in 2022. Western Europe was the second-largest region in the global fossil fuel electricity market. The regions covered in the global fossil fuel electricity market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the fossil fuel electricity market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The fossil fuel electricity market includes revenues earned by entities by gas turbines, Diesel engines, and Spark-ignition internal combustion engines. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global fossil fuel electricity market is segmented - 1) By Fuel Type: Coal, Oil, Natural Gas 2) By End-User: Residential, Commercial, Industrial

A tank level monitoring system is an innovative device to track fluid levels within atmospheric tanks. It handles the monitoring task by sensing the static pressure created by the height of the fluid with the aid of a tube installed within the tank and then shows the volume or level of the fluid. The tank level monitoring systems market covered in the report is segmented by product into invasive type, non-invasive type, data services, data center, local view; by component into a sensor, tracking devices, power supply, monitoring station; by application into oil & fuel, power plant, mining, automotive, others. The tank level monitoring system market research report is one of a series of new reports from The Business Research Company that provides tank level monitoring system market statistics, including tank level monitoring system industry global market size, regional shares, competitors with a tank level monitoring system market share, detailed tank level monitoring system market segments, market trends and opportunities, and any further data you may need to thrive in the tank level monitoring system industry. This tank level monitoring system market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global tank level monitoring system market size grew from $0.97 billion in 2022 to $1.04 billion in 2023 at a compound annual growth rate (CAGR) of 7.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The tank level monitoring system market size is expected to grow to $1.41 billion in 2027 at a CAGR of 8.1%. The increasing demand for tank level monitoring systems is expected to propel the growth of the tank level monitoring systems market during the forecast period. Tank level control system is an innovative device used to monitor the status of fluid within atmospheric tanks by using sensors, saving on assigning workers to test the tank gauges. According to the report from the IoT analyst firm Berg Insight, the global installed base of active remote tank monitoring (RTM) systems surpassed 2.5 million units by the end of 2018 and are expected to reach 11.9 million units by 2023. Therefore, the increasing demand for tank-level monitoring systems drives the growth of the tank level monitoring systems market. The impact of COVID-19 on tank level monitoring systems is expected to impede the growth of the tank level monitoring systems market in the coming years. The emergence of the COVID-19 pandemic has negatively affected the development of a variety of industries, including manufacturing, oil & gas, and many others. Oil & Gas is a major end-user industry for tank level monitoring systems. Due to COVID-19, several existing or new projects around the production chain of oil and gas are anticipated to face multiple challenges in terms of project implementation, scheduling and risk management. For instance, dozens of projects run by the Oil and Gas Technology Centre (OGTC) are experiencing delays or cancellations owing to the COVID-19 outbreak. Therefore, the impact of COVID-19 on tank level monitoring systems hampered the growth of the tank level monitoring systems market. The growing technological advancements are a major trend gaining popularity in the tank-level monitoring systems market. Major companies operating in the tank-level monitoring systems sector are focusing on developing technologically advanced solutions for tank-level monitoring systems. For instance, in September 2021, Graco Inc., a US-based company operating in fluid management products, introduced the Pulse Level tank monitoring system. The Pulse Level tank-monitoring system can entirely run on Wi-Fi, or with cellular technology, which enables the users to track tank levels of field, capture and apply data, and allocate inventory efficiently accurately, and confidently. In September 2021, Generac Holdings Inc., a US-based manufacturer of energy technology solutions and other power products acquired Tank Utility, Inc. for an undisclosed amount. With this acquisition, Generac Holdings Inc aims to enhance its sophisticated remote monitoring capabilities for propane. Tank Utility, Inc is a US-based tank monitor device and system manufacturer. Major players in the tank level monitoring system market are American Sensor Technologies Inc. (AST), Centeron, Gauging Systems Inc., Graco Inc., Piusi SPA, Pneumercator, Smartlogix, Digi International Inc., and Tank Scan, Varec Inc. North America was the largest region in the tank level monitoring system market in 2022. The regions covered in the tank level monitoring system market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the tank level monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The tank-level monitoring system market consists of sales of invasive tank-level monitoring systems, non-Invasive tank-level monitoring systems, and other tank-level monitoring systems. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global tank level monitoring system market is segmented - 1) By Product: Invasive Type, Non-Invasive Type, Data Services, Data Center, Local View 2) By Component: Sensor, Tracking Devices, Power Supply, Monitoring Station 3) By Application: Oil And Fuel, Power Plant, Mining, Automotive, Other Applications

A hydrogen fuel cell is a device that converts hydrogen into clean energy and electricity by a chemical reaction and the by-products of this chemical reaction are electricity, water, and heat. Hydrogen fuel cells can be used in a wide range of applications such as cars, buildings, electronic devices, trucks, and backup power systems. The main types of products in hydrogen fuel cells are polymer exchange membrane fuel cells, direct methanol fuel cells, solid oxide fuel cells, and others. Polymer exchange membrane fuel cells are a type of hydrogen fuel cell that converts the chemical energy of a fuel such as hydrogen into electricity. These hydrogen fuel cells are used in various areas including stationery, transportation, portable fuel cell vehicles, utilities for generating power, and defense. The hydrogen fuel cell market research report is one of a series of new reports from The Business Research Company that provides hydrogen fuel cell market statistics, including hydrogen fuel cell industry global market size, regional shares, competitors with a hydrogen fuel cell market share, detailed hydrogen fuel cell market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen fuel cell industry. This hydrogen fuel cell market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global hydrogen fuel cells market size grew from $5.64 billion in 2022 to $8.23 billion in 2023 at a compound annual growth rate (CAGR) of 45.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The hydrogen fuel cells market size is expected to grow to $32.65 billion in 2027 at a CAGR of 41.1%. The growing demand for fuel-cell electric vehicles around the world is contributing to the growth of the hydrogen fuel-cell market. Fuel cell electric vehicles (FCEVs) powered by hydrogen are called hydrogen fuel cell vehicles. The surge in demand for fuel-cell electric vehicles leads to increased demand for hydrogen fuel cells. For example, according to the Passenger Hydrogen Fuel Cell Vehicles report, the sales of hydrogen fuel cell vehicles reached 27,500 in 2020. Moreover, the sales of passenger fuel cell vehicles reached 8,500 in 2020, the highest annual sales compared to any of previous years. Rising sales in fuel-cell electric vehicles demonstrate the growing demand for fuel-cell electric vehicles, thereby contributing to the growth of the hydrogen fuel-cell market. The companies in the hydrogen fuel cell market are developing new technologies to reduce the weight, manufacturing costs, and component requirements of hydrogen fuel cells. Advances in technologies improve the efficiency of hydrogen fuel cells. For example, in July 2021, Hyzon Motors Inc., a US-based manufacturer of commercial vehicles powered by zero-emission hydrogen fuel cells announced a new commercial vehicle that could reduce the weight and manufacturing costs of a commercial vehicle powered by Hyzon's hydrogen fuel. The system's metal structure is integrated with lightweight composite materials in this revolutionary technology. In April 2021, Alstom, a France-based company engaged in developing and marketing mobility solutions that provide the sustainable foundations for the future of transportation acquired Helion Hydrogen Power for an undisclosed amount. Through this acquisition, Alstom expands its portfolio of innovative & competitive solutions products and strengthens its expertise in sustainable intelligent mobility. Helion Hydrogen Power is a France-based company that is engaged in the designing and manufacturing of hydrogen fuel cell modules for rail and marine applications. Major players in the hydrogen fuel cells market are Panasonic, Intelligent Energy Holdings, FuelCell Energy, Plug Power, Hyster-Yale, Doosan Fuel Cell, Ballard Power Systems, Nedstack fuel cell technology, Pearl Hydrogen, Hydrogenics, Horizon Fuel Cell Technologies, Toshiba Energy Systems, Mitsubishi Hitachi Power Systems, AFC Energy, and Sunrise Power. Asia-Pacific was the largest region in the hydrogen fuel cell market in 2022. North America was the second-largest market in the hydrogen fuel cell market. The regions covered in the hydrogen fuel report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the hydrogen fuel cells market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The hydrogen fuel cell market consists of sales of direct methanol fuel cells, polymer exchange membrane fuel cells, and other hydrogen fuel cells. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global hydrogen fuel cells market is segmented - 1) By Type: Polymer Exchange Membrane Fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Solid Oxide Fuel Cells (SOFC), Other Types 2) By Application: Stationary, Transport, Portable 3) By End User: Fuel Cell Vehicles, Utilities, Defense