Market Overview:
The global CNG tank/cylinder market is estimated to be valued at US$ XX Mn in 2018 and is projected to reach US$ XX Mn by 2030, exhibiting a CAGR of X.X%. The market growth can be attributed to the increasing demand for passenger vehicles and commercial vehicles that run on CNG. Additionally, the stringent emission norms across the globe are also fuelling the demand for CNG tanks/cylinders. The metal material segment is expected to account for a major share of the global CNG tank/cylinder market during the forecast period. This can be attributed to its high durability and resistance against corrosion.
Product Definition:
A compressed natural gas (CNG) tank or cylinder is a pressure vessel used to store compressed natural gas. CNG tanks can be made of steel, aluminum, or composite materials such as fiberglass reinforced plastic (FRP).
Metal Material:
Metal Material is used in CNG tanks and cylinders for providing robustness, corrosion resistance, thermal conductivity and high strength. The metal material includes aluminum & steel alloys which are widely used owing to properties such as ductility, malleability & hardness along with excellent strength-to-weight ratio. These metals provide robustness against expansion due to temperature changes inside the tank or cylinder resulting in failure of other materials.
Glass Fiber Composites Raw Materials:
Glass fiber composites raw materials.
Composite Materials Group, Inc. (CMG) has been a key player in the development of glass fiber composites for over 25 years. Glass fibers are incorporated into resin matrices to form composite materials that have superior properties compared to those of conventional products such as wood, plastics & resins or metals.
Application Insights:
Passenger vehicles segment is projected to emerge as the fastest-growing application segment over the forecast period. Increasing demand for CNG in passenger vehicles, owing to its lower carbon emission when compared with other fossil fuels, is expected to drive the global market growth over the coming years.
Commercial Vehicles (CDVs) are expected to witness significant growth rate on account of increasing government initiatives and regulations regarding reduction of vehicular emissions across various regions. For instance, in March 2017 ULC announced that it has developed a new technology that will enable it¢â‚¬â„¢s customers reduce their fuel consumption by up to 20%. The technology uses natural gas as an alternative fuel for power generation and reduces idling time which results in reduced energy consumption and increased operating efficiency of engines running on LPG or gasoline with CNG added.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing increasing demand for CNG vehicles on account of rising fuel prices, stringent emission norms, and government initiatives favoring CNG vehicles. In addition, growing adoption of compressed natural gas as a replacement for diesel-based public transportation is anticipated to drive regional growth over the forecast period.
North America accounted for a significant share in terms of revenue owing to high demand from U.S., which has been one of the major contributors towards market growth across this region since 2014 due to increased focus on reducing carbon footprint along with growing environmental awareness among people toward alternative fuel vehicle technologies such as CNG and hybrid electric vehicles (HEVs). However, slow pace at which HEVs are adopted may hinder North American regional growth during the forecast period from 2018 to 2030.
Growth Factors:
- Increasing demand for CNG as a fuel source for vehicles, owing to its environmental benefits over petrol and diesel.
- Government initiatives and subsidies towards the adoption of CNG as a transportation fuel across various countries.
- Rising demand from the industrial sector for CNG as an energy source in manufacturing processes and power generation plants.
- Growing popularity of CNG-powered vehicles among fleet operators and taxi services providers due to their lower running costs as compared to traditional petrol or diesel vehicles.
Scope Of The Report
Report Attributes
Report Details
Report Title
CNG Tank/Cylinder Market Research Report
By Type
Metal Material, Glass Fiber Composites Raw Materials, Carbon Fiber Composites Raw Materials, Other
By Application
Passenger Vehicles, Commercial Vehicles
By Companies
Sinomatech, Everest Kanto Cylinders, Worthington Industries, Luxfer Group, Hexagon Composites, Beijing Tianhai Industry, Rama Cylinders, Quantum Technologies, Faber Industrie, Praxair Technologies, Sinomatech, Lianzhong Composites, Avanco Group, Ullit
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
187
Number of Tables & Figures
131
Customization Available
Yes, the report can be customized as per your need.
Global CNG Tank/Cylinder Market Report Segments:
The global CNG Tank/Cylinder market is segmented on the basis of:
Types
Metal Material, Glass Fiber Composites Raw Materials, Carbon Fiber Composites Raw Materials, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sinomatech
- Everest Kanto Cylinders
- Worthington Industries
- Luxfer Group
- Hexagon Composites
- Beijing Tianhai Industry
- Rama Cylinders
- Quantum Technologies
- Faber Industrie
- Praxair Technologies
- Sinomatech
- Lianzhong Composites
- Avanco Group
- Ullit
Highlights of The CNG Tank/Cylinder Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Metal Material
- Glass Fiber Composites Raw Materials
- Carbon Fiber Composites Raw Materials
- Other
- By Application:
- Passenger Vehicles
- Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the CNG Tank/Cylinder Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A CNG tank or cylinder is a container for compressed natural gas.
Some of the major companies in the cng tank/cylinder market are Sinomatech, Everest Kanto Cylinders, Worthington Industries, Luxfer Group, Hexagon Composites, Beijing Tianhai Industry, Rama Cylinders, Quantum Technologies, Faber Industrie, Praxair Technologies, Sinomatech, Lianzhong Composites, Avanco Group, Ullit.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 CNG Tank/Cylinder Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 CNG Tank/Cylinder Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 CNG Tank/Cylinder Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the CNG Tank/Cylinder Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global CNG Tank/Cylinder Market Size & Forecast, 2020-2028
4.5.1 CNG Tank/Cylinder Market Size and Y-o-Y Growth
4.5.2 CNG Tank/Cylinder Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Metal Material
5.2.2 Glass Fiber Composites Raw Materials
5.2.3 Carbon Fiber Composites Raw Materials
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Passenger Vehicles
6.2.2 Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global CNG Tank/Cylinder Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 CNG Tank/Cylinder Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Metal Material
9.6.2 Glass Fiber Composites Raw Materials
9.6.3 Carbon Fiber Composites Raw Materials
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Passenger Vehicles
9.10.2 Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Metal Material
10.6.2 Glass Fiber Composites Raw Materials
10.6.3 Carbon Fiber Composites Raw Materials
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Passenger Vehicles
10.10.2 Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Metal Material
11.6.2 Glass Fiber Composites Raw Materials
11.6.3 Carbon Fiber Composites Raw Materials
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Passenger Vehicles
11.10.2 Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Metal Material
12.6.2 Glass Fiber Composites Raw Materials
12.6.3 Carbon Fiber Composites Raw Materials
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Passenger Vehicles
12.10.2 Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Metal Material
13.6.2 Glass Fiber Composites Raw Materials
13.6.3 Carbon Fiber Composites Raw Materials
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Passenger Vehicles
13.10.2 Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 CNG Tank/Cylinder Market: Competitive Dashboard
14.2 Global CNG Tank/Cylinder Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sinomatech
14.3.2 Everest Kanto Cylinders
14.3.3 Worthington Industries
14.3.4 Luxfer Group
14.3.5 Hexagon Composites
14.3.6 Beijing Tianhai Industry
14.3.7 Rama Cylinders
14.3.8 Quantum Technologies
14.3.9 Faber Industrie
14.3.10 Praxair Technologies
14.3.11 Sinomatech
14.3.12 Lianzhong Composites
14.3.13 Avanco Group
14.3.14 Ullit
