Market Overview
The automotive fuel tank caps and locks, also known as gas caps with locks has evolved from simple plug-ins to more sophisticated plastic or metal caps with locks. The main purpose of automotive fuel tank caps and locks are to avoid the contamination of pollutants and rain water with the tank fuel which can lead to clogging of the fuel filters and fuel pumps. They also prevent loss of fuel during rollover and impact situations, thus preventing the occupants from burns or death. The automotive fuel tank caps and locks have vents or valve to remove the pressure which might accumulate in the fuel tank in a controlled manner. The other major uses of automotive fuel caps and locks are prevention of fuel theft and evaporation of harmful fuel vapours which can reduce mileage. The smart automotive fuel caps and locks available have sensors attached to it which sets an alarm whenever anyone tries to damage it. The fuel tank lock system has also improved with auto-lock and keys required only to unlock the cap.
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Market Drivers and Restraints
The benefits of automotive fuel tank caps and locks over the traditional plug-ins such as robustness and less fuel evaporation are the driving factors for global automotive fuel tank caps and locks market. The stringent rules and regulations to the automobile manufacturers to reduce pollution caused by harmful emissions from automobiles has also fuelled the growth of automotive fuel tank caps and locks market. The growing safety concerns among automobile users can boost the automotive fuel tank caps and locks market.
The major drawback of steel fuel caps is that it gets heated up making it difficult to be removed. There is also a possibility of heat transfer through conduction from the atmosphere to the fuel tank by steel fuel caps causing catastrophic effect, which can lead to the slowdown of global metal fuel caps and locks market.
Market Segmentation
| On the basis of vehicle type |
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| On the basis of product types |
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| On the basis of lock type |
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| On the basis of product style |
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| On the basis of market |
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Region-wise Outlook
The global automotive fuel tank caps and locks market can be divided into seven regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East and Africa. Asia Pacific holds the largest market share in the automotive fuel tank caps and locks market. The leading automotive fuel tank caps and locks markets in Asia Pacific are China and India owing to the increased sales of automobiles in the country. Japan also has a significant share in the automotive fuel tank caps and locks market due to the increasing automobile industry.
North America holds the second position in automotive fuel tank caps and locks market. Regions such as Latin America, Europe holds a significant market share due to the large number of automobile industry in this region and also the increasing number of automobile users. Middle East and Africa are at nascent stage in the automotive fuel tank caps and locks market and is expected to show a modest CAGR in the forecast period.
Key Players
Some of the key players in the global Automotive Fuel Tank Caps and locks market are as follows:
- Gates Corporation
- Fueloyal Inc
- Autocaps Aust Pty Ltd
- Tridon Australia
- Stant
- Gaslock
- Hartwig Fuel Cell Repair
- Ronis
- Velvac Inc.
- Newton Equipment Ltd
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