Increase in the use of two-wheeler in last mile deliveries, growth in popularity of motorcycles for leisure and adventure, and increase in sales of two-wheelers in developing countries drive the global 2-wheeler fuel tank market.
The global 2-wheeler fuel tank market size was valued at $6.8 billion in 2023, and is projected to reach $13.7 billion by 2033, growing at a CAGR of 7.4% from 2024 to 2033. 2-wheeler fuel tanks are the tanks or reservoir integrated into 2-wheelers, which are primarily responsible for containing liquid fuel such as petrol, or diesel. 2-wheeler fuel tanks generally have a range of 5 liters to 20 liters and are manufactured utilizing metals, plastic or composite materials.
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Segment Review:
By capacity, the less than 20 liter segment held the highest market share in 2023, owing to the less than 20 liter tanks being generally manufactured for use in smaller vehicles, which have low fuel requirement, often between 4 to 8 liters, as they are designed for short-distance, urban travel. Urban and city commuters require compactness and efficiency, leading to smaller tanks design. In addition, two-wheelers have a high fuel efficiency compared to any other vehicle and the majority of smaller tank motorcycles are intended to be used in cities and for short travels.
By material type, the metal segment held the highest market share in the 2-wheeler fuel tank industry in 2023, owing to metal fuel tanks being highly durable and resistant to impact, making them a preferred choice over plastic alternatives, especially for adventure and touring motorcycles. Metals like steel and aluminum are strong and can withstand significant impacts, thus reducing the risk of fuel leaks or ruptures during accidents. Moreover, metal tanks are more robust and can endure daily wear and tear, ensuring a longer lifespan compared to many plastic tanks. Similarly, metal 2-wheeler fuel tanks can easily be repaired and thus incur low maintenance costs.
By end user, the bike segment held the highest market share in 2023, owing to suitability of bikes for short-distance travel, thus making them a good option for use in daily commuting and for commercial activities such as small-scale or last mile deliveries. Moreover, in emerging markets such as India, Southeast Asia, and Africa, the growth in middle class and increased disposable income, makes motorcycles more accessible to a larger pool of population. Many individuals in these regions prefer motorcycles for personal transportation due to affordability and practicality. Furthermore, there is a growing trend of motorcycle clubs and organized bike events, which are further driving the motorcycle segment demand.
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Regional Insights:
By region, Asia-Pacific held the highest market share in terms of revenue in 2023, owing to growing traffic congestion and increasing fuel prices, many countries shifting towards 2 wheelers. In addition, countries such as China have initiated various measures to promote green transportation and implemented regulations regarding vehicle emissions, which contribute to the 2-wheeler fuel tank market growth. For example, China introduced the three-year Action Plan, the “Blue Sky Defense War” and has taken steps such as implementing the China VI emission standard, promoting the adoption of 2-wheelers, improving fuel quality, and helping to reduce traffic congestion.
Key Industry Players:
Lumax Industries, Piaggio Vehicles Pvt. Ltd., Harley Davidson, Suzuki Motor Corporation, GOSHI GIKEN CO., LTD., Honda Motor Co., Ltd., Royal Enfield, Walbro , Yamaha Motor Co., Ltd., A.G Industries Pvt. Ltd.
The report provides a detailed analysis of these key players in the global 2-wheeler fuel tank market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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