June 14, 2022 08:30 ET | Source: FACT.MR FACT.MR
United States, Rockville, MD, June 14, 2022 (GLOBE NEWSWIRE) -- The global fuel storage containers market was valued at US$ 25 Billion in 2021, and is projected to register a Y-o-Y increase of 4% in 2022 to be valued at US$ 26.13 Billion. During the 2022-2032 period of assessment, demand is expected to rise at a 4.5% value CAGR, likely to reach US$ 40.57 Billion by the end of the said forecast period.
Overall, sales of fuel storage containers for fuel storage containers will continue to flourish, with an impressive CAGR exhibited from 2015-2021. Moreover, with high availability and customization of products according to industrial and commercial requirements, the market for fuel storage containers is poised to grow over the forecast period 2022 to 2032. North America will remain at the forefront, generating good opportunities and acquiring nearly 1/3rd market share during the forecast period.
With the rising demand for vehicle production, the need to produce more efficient and durable automotive fuel storage containers has become one of the major parts of research. Throughout the years, researchers have been doing research on how to increase the stability of fuel storage containers.
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Key Takeaways from the Market Study
Prominent manufacturers of fuel storage containers are eyeing technological innovations in order to provide the most accurate and precise storage arrangements to their customers.
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Key Segments Covered in the Fuel Storage Containers Market Study
Fuel Storage Containers Market by Product Type:
Fuel Storage Containers by Region
More Valuable Insights Fact.MR, in its new offering, presents an unbiased analysis of the global fuel storage containers market, presenting historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product type (Portable Fuel Containers, 5 Gal. Portable Fuel Containers, 5 Gal. Safety Portable Fuel Containers, 275 Gal. IBC, 55 Gal. Fuel Storage Drums) across seven major regions (North America, Latin America, Asia Pacific excluding Japan, Western Europe, Eastern Europe, Japan and Middle East & Africa).
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