Europe Automotive Air Tanks Market was valued at USD 1.4 Billion in 2022 and is projected to reach USD 2.0 Billion by 2030, growing at a CAGR of 6.8% from 2024 to 2030.
The Europe Automotive Air Tanks Market is witnessing a growing demand due to the increasing need for air compression systems across various industries, especially automotive. These air tanks are critical for vehicles such as trucks, buses, and commercial vehicles, where they are used to store compressed air for braking systems, suspension systems, and other critical functions. As industries demand more efficient, durable, and safe air tanks, the market has evolved significantly over the past few years.
In recent times, the market for automotive air tanks has been driven by the rise of electric vehicles (EVs) and hybrid vehicles. These vehicles rely on air tanks for their braking and suspension systems, requiring an innovative approach to meet the specific needs of these advanced vehicle types. With the automotive industry embracing new technologies and stricter environmental regulations, the demand for lightweight, corrosion-resistant, and high-performance air tanks has surged.
The types of automotive air tanks in Europe are diverse, ranging from traditional steel tanks to composite material tanks. Steel tanks, known for their strength, are widely used in commercial vehicles, while composite material tanks, offering lighter weights and better corrosion resistance, are preferred in electric and hybrid vehicles. As industries push for more fuel-efficient and environmentally friendly vehicles, the demand for composite material air tanks is expected to rise.
Industries requiring these air tanks range from automotive manufacturers to suppliers of air compression equipment. For instance, heavy-duty trucks and buses use air tanks for their pneumatic systems. The agricultural sector, with its need for specialized vehicles, and the construction sector, using heavy equipment like cranes, are also significant contributors to the demand for automotive air tanks.
Moreover, manufacturers are constantly innovating to meet the growing requirements of these industries. Enhanced safety features, such as burst-resistant tanks and improved air compression systems, are key to meeting the needs of automotive industries, ensuring that they can deliver performance while also reducing costs and maintaining regulatory standards.
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Frauenthal Automotive
Magna
Yamaha Fine
Tecmaplast
Viair
Ice Industries
T&G Automotive
Centrair
Torin Jack
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Automotive Air Tanks Market
Standard Air Tanks
Portable Air Tanks
Heavy-Duty Air Tanks
Custom Air Tanks
Steel
Aluminum
Carbon Fiber
Plastic
Passenger Vehicles
Commercial Vehicles
Off-road Vehicles
Luxury Vehicles
Up to 5 Gallons
5-10 Gallons
10-20 Gallons
Above 20 Gallons
OEM Manufacturers
Aftermarket Suppliers
Leasing Companies
Service Stations
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Automotive Air Tanks Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Automotive Air Tanks Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Air Tanks Market, By Type
6. Europe Automotive Air Tanks Market, By Application
7. Europe Automotive Air Tanks Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Automotive Air Tanks Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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