Collapsible Fuel Tank Global Market Report 2024

Collapsible fuel tanks refer to a pillow-shaped tank that is equipped with various plates and accessories for filling and emptying. It allows storage of hydrocarbons, oil, drinking water, and wastewater and can be used as a mobile service station. These can be deployed quickly and easily and are manufactured using industrial fabrics for the storage of fuel.

The main types of collapsible fuel tanks are small capacity, medium capacity, and large capacity collapsible fuel tanks. The small capacity collapsible fuel tank refers to the tanks with 25 to 100 gallons capacity used for storing fuel. The various materials include polyurethane, and composite material and are used by end users such as agriculture, mining, military application, commercial, and other end users.

The collapsible fuel tank market research report is one of a series of new reports that provides collapsible fuel tank market statistics, including collapsible fuel tank industry global market size, regional shares, competitors with market share, detailed collapsible fuel tank market segments, market trends and opportunities, and any further data you may need to thrive in the collapsible fuel tank industry. This collapsible 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 collapsible fuel tank market size has grown strongly in recent years. It will grow from $1.45 billion in 2023 to $1.59 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to increased demand for portable fuel storage solutions, growth in the automotive and motorsports industry, adoption of collapsible fuel tanks in emergency response and disaster relief, advances in material technology for durable and flexible fuel tank designs, expansion of the aviation industry.

The collapsible fuel tank market size is expected to see strong growth in the next few years. It will grow to $2.3 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to growth in the marine industry, increasing adoption of collapsible fuel tanks in off-road and recreational vehicles, expansion of the renewable energy sector, adoption of collapsible fuel tanks in remote and off-grid power generation, surge in demand for collapsible fuel tanks in the aerospace sector. Major trends in the forecast period include development of lightweight and space-saving collapsible fuel tank designs, integration of smart technologies for fuel level monitoring and management, emphasis on eco-friendly and recyclable materials in collapsible fuel tank production, customization of collapsible fuel tanks for specific industry requirements, collaboration between fuel tank manufacturers and end-users .

Rising demand for electric vehicles is expected to propel the growth of the collapsible fuel tank market going forward. Electric vehicles refer to vehicles that use electricity to improve vehicle efficiency. Fuel tanks for extended-range electric vehicles need to be able to endure high vapor pressures allowing optimization of the vehicle's full electric operating range driving mode, as a result, rising demand for electric vehicles increases the demand for collapsible fuel tank market. For instance, in September 2022, according to the International Energy Agency, a France-based autonomous intergovernmental organization, electric car sales set a new high in 2021, climbing by 4%. Sales nearly doubled to 6.6 million compared to 2020, increasing the total number of electric vehicles on the road to 16.5 million. Therefore, rising demand for electric vehicles is driving the collapsible fuel tanks market.

The increasing adoption of alternative fuels is expected to propel the growth of the collapsible fuel tank market going forward. Alternative fuels refer to any non-traditional or unconventional sources of energy that can be used to power vehicles, machinery, or other energy-consuming applications. Collapsible fuel tanks can serve as portable and flexible storage options for these alternative fuels. These tanks can be deployed in various locations to store and transport alternative fuels efficiently. For instance, in September 2023, according to the Energy Information Administration (EIA), a US-based agency, overall biofuel production capacity, which includes renewable diesel, biodiesel, ethanol, and other biofuels, reached 23 billion gallons per year (gal/y) in January 2023, a 6% increase in total production capacity from January 2022. Fuel ethanol accounted for 78% of U. S. biofuel production capacity, renewable diesel and other biofuels accounted for 13%, and biodiesel accounted for 9%. Therefore, the increasing production of alternative fuels is expected to propel the growth of the collapsed fuel tank market going forward.

Product innovations have emerged as a key trend gaining popularity in the collapsible fuel tank market. Major companies operating in the collapsible fuel tank market are developing new products to strengthen their position in collapsible fuel tank market. For instance, in July 2022, Interstate Products, a US-based multi-brand supplier of quality environmental, facility, storage, and safety product solutions, launched expanded flexible fuel bladder. With storage bladders for high amounts of gasoline and water, the firm now offers portable liquid storage solutions. They are suitable for most diesel and jet fuels and can be utilised as an above-ground storage tank. Military-grade nitrile and mil-spec urethane are also available in the normal sizes for the industry (50,000, 100,000, and 210,000 gallons). Custom-engineered solutions can also be provided.

In May 2022, Tank Holding Corp, a US-based manufacturer of rotationally molded poly and welded steel bulk storage and material handling products acquired Semco Plastic Company Inc for an undisclosed amount. This acquisition, aids to invest Tank Holdings into adjacent plastic processing technologies while continuing to demonstrate our commitment to providing its customer's further capabilities. Semco Plastic Company is a US-based manufacturer of a variety of custom-molded plastic products for a wide spectrum of industries operating in the collapsible fuel tanks market.

Major companies operating in the in the collapsible fuel tank market report are Meggitt PLC, GTA Containers Inc., Aero Tec Laboratories Ltd., Amufuel, MPC Containment International LLC, Splash Containment, Turtle-Pac, AeroControlex, Western Global, Fawcett Christie Hydraulics Ltd., Ready Containment LLC, Krampitz Tanksystem GmbH, Flexi Tank Systems, Desert Plastics, Liquid Containment Pty Ltd, Waterplex Pty Ltd, SEI Industries Ltd., Fol-Da-Tank Company, Piusi SpA, Chem-Tainer Industries, Custom-Pak Inc., Rain for Rent, Husky Portable Containment, Megaflex Ltd., Space Bladder, Cepco Tool Company Inc., ReadyH2 Products Inc., Fleximake Pty Ltd, Plastica Alfa Srl, Interstate Products Inc.

North America was the largest region in the collapsible fuel tank market in 2023. Asia-Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the collapsible fuel tank market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the collapsible fuel tank market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The collapsible fuel tank market consists of sales of polyethylene or nylon, regrind plastic, and polypropylene. 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.


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