Owing to benefits such as prevention from unwanted fuel tampering or siphoning, prevention of evaporative fuel loss, better retention of fuel inside the fuel tank, regulation of pressure inside the fuel tank, fuel-savings, fuel caps are experiencing rapid adoption, thus fostering progress in global fuel flap market.
Covid-19 Impact & Market Status
The covid-19 led complete and partial lockdowns both impacted the demand and supply side of the manufacturing fuel flaps sector of the global fuel flaps market. The demand side was impacted due to reduced disposable incomes, reduced mobility, financial issues leading to downturn in economic activities. Furthermore, the supply side was impacted due to shortage of raw material supply, labor shortages, mobility restrictions, and shutdown of manufacturing operations of fuel flaps heavily impacting the global fuel flaps market. However, for market fortification and sustenance, manufacturers sought alternative strategies steadily improving the overall market performance of global fuel flap market. Furthermore, the subsequent gradual reopening of the economy helped global fuel flap market regain momentum.
This global fuel flap market investigates the latest market trends and market determinants. The productivity of the global fuel flap market is studied by categorizing the market into segments. The main components of the fuel flap are studied in the report and with a comparative study thereof. A detailed analysis of the global fuel flap market is done with future market forecasts and current financial details of the global fuel flap market.
Bayonet Type Fuel Cap Fuel Flap Type to Emerge as the Most Lucrative Segment
The global fuel flap market is classified into bayonet type fuel cap, hinge type fuel cap, push type fuel cap, screw type fuel cap, cable actuated tank type fuel cap, vented type fuel cap, non-vented type fuel cap, regulated fuel filler type fuel cap based on Mounting Type. Among these, bayonet type fuel cap is poised for considerable growth as these fuel flaps are easy to remove and prevent massive fuel leakage.
Aluminium Fuel Flap to Remain Atop
The global fuel flap market is classified into plastic, steel, aluminum, and brass based on Construction Material. Among these, the aluminium material fuel flap witnessed more demand across the globe boosting the global fuel flap market as they are more reliable, high quality, prevent fuel evaporation, and cannot be broken easily.
Two-wheeler Vehicular Application to Ensure Revenue Maximization
The global fuel flap market is classified into two-wheeler, three-wheeler, passenger vehicle, and light & heavy commercial vehicle based on application. Among these, the two-wheeler segment accounted for maximum market share and is expected to witness substantial market growth during forecast years owing to factors like rising demand and manufacturing of two-wheelers, improved designs in fuel flaps in two-wheeler segment, and other factors.
North American Region to Render Ample Investment Avenues
Based on regional performance and segmentation, the North American region is likely to garner the lion's share of revenues in the forecast years. This is evident from the rapid industrial, commercial, and residential vehicle applications of fuel flaps across countries such as the US and Canada.
The ever-changing safety and environment norms and continuously advancing technology is resulting into countless changes in the design and features of the Fuel Flaps and increased demand propelling the global fuel flap market. Furthermore, the countries leapfrogging several standards and jumping to the most strict and robust norms for safeguarding environment and fuel loss caused due to evaporation from fuel tanks, the North American region in global fuel flap market is witnessing growth and see tremendous change in near future. Following suit the European market is also emerging as a lucrative region based on similar market dynamics. Moreover, in the forecast years, the Asia Pacific region is also likely to emerge as a significant region backed by intense developments across emerging countries such as China and India.
The need to retain fuel inside the fuel tank and prevent environment pollution occurring due to evaporation of fuel into atmosphere has accentuated the reliance on fuel flaps. The trend is likely to sustain even in the coming years, amidst growing environment protection practices.
Rapid end use applications ranging from two-wheeler, three-wheeler, passenger vehicle, light & heavy commercial vehicle and other applications are fostering remarkable progress in the global fuel flap market.
Advantages such as superlative fuel saving capabilities, low atmospheric pollution, prevention of massive fuel leakage, accurate sealing mechanism preventing fuel loss, easier attachment, better and accurate venting system encourage further adoption of fuel flap. These factors collectively influence thumping growth in global fuel flap market, ensuring an overall market size of USD 457 billion by 2028 with an annual growth rate of 5.22% through the forecast span.
Fuel caps are the most essential part of the fuel system of any vehicle which is vitally necessary to prevent fuel loss and regulate the pressure inside the fuel tank. If a fuel tank is properly sealed further fuel vapour leakage can be avoided. Fuel flaps are generally available in different materials like plastic, brass, aluminium, or steel. Owing to several benefits and necessities of fuel flaps as special designs coming up in the market to work in accordance to norms setup are boosting the global fuel flap market.
However, the some fuel flaps like plastic fuel flaps are unable to store liquids in them leading to evaporation over time, the introduction of e-vehicles, and disruption in automation industry due to covid-19 pandemic are likely to hamper the global fuel flap market growth.
Conversely, the ever-changing safety and environment norms and continuously advancing technology is resulting into countless changes in the design and features of the Fuel Flaps and increased demand propelling the global fuel flap market. Furthermore, the countries leapfrogging several standards and jumping to the most strict and robust norms for safeguarding environment and fuel loss caused due to evaporation from fuel tanks, the global fuel flap market is witnessing growth and see tremendous change in near future.
The major players in global fuel flap market are Stant Fuel Cap, Valeo Fuel Cap, CPC Fuel Cap, Mocal Fuel Filler Caps, Wisco Fuel Cap, Newton Fuel Cap, Velvac Fuel Cap, Gates Fuel Cap, and Tridon Fuel Cap among others. The Fuel Flap coil market is a fast-growing industry and is identified to have well-established international behemoths as well as aggressive new players prevalent across local and regional markets. Further, renowned industry players are unravelling new product portfolios and technological advancements for market fortification amidst Covid-19 impact. The global fuel flap market is changing exponentially with market players coming up with new designs and uses. These companies are coming up with fuel flap designs that work better in terms of safety and environmental issues. For example, for many high-end bikes canisters are incorporated that separate carbon from vapours thereby reducing contaminants expelled from the fuel tank into atmosphere. This has increased the market demand for fuel flap and boosted the market position of these players in global fuel flap market.
Latest Innovations in the Global Fuel Flap Market: a Snapshot
- Dorman Products in May 2021 has upgraded its range of fuel flaps with the launch of Dorman 90005 Engine Oil Filler Cap to suit the advanced needs of specific vehicle brands such as Lincoln, Mercury, and Select Ford. The development is anticipated to bode well with the growth trends of the global fuel flap market.
Fuel Flap Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 457 billion|
|Growth Rate||CAGR of 5.22% during 2021-2028|
|Segment Covered||Mounting Type, Construction Material, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Stant Fuel Cap, Valeo Fuel Cap, CPC Fuel Cap, Mocal Fuel Filler Caps, Wisco Fuel Cap, Newton Fuel Cap, Velvac Fuel Cap, Gates Fuel Cap, and Tridon Fuel Cap among others.|
Key Segments of the Global Fuel Flap Market
Mounting Type Overview, 2018-2028 (USD Billion)
- Bayonet type fuel cap
- Hinge type fuel cap
- Push type fuel cap
- Screw type fuel cap
- Cable actuated tank type fuel cap
- Vented type fuel cap
- Non-vented type fuel cap
- Regulated fuel filler type fuel cap
Construction Material Overview, 2018-2028 (USD Billion)
Application Overview, 2018-2028 (USD Billion)
- Passenger vehicle
- light & heavy commercial vehicle
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa