Market Overview:
The global hoop wrapped 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 hoop wrapped cylinders from various end-use industries. Based on type, the global hoop wrapped cylinder market has been segmented into glass fiber composites and carbon fiber composites. Glass fiber composites are expected to account for a larger share of the global market during the forecast period. This can be attributed to their high strength-to-weight ratio and corrosion resistance properties. Carbon fiber composites are also witnessing increasing demand due to their superior mechanical properties as compared with other materials used in manufacturing hoop wrapped cylinders. Based on application, the global hoop wrapped cylinder market has been segmented into gas carriers and storage, transportation, life support, and others. Gas carriers and storage is expected to account for a larger share of the global market during the forecast period owing to rising demand for compressed natural gas (CNG) as an alternative fuel source across different regions worldwide. Transportation sector is also anticipated witness significant growth during 2018–2030 due increased adoption of hoopwrapped cylinders in commercial vehicles such as buses & trucks etc.
Product Definition:
A hoop wrapped cylinder is a cylindrical object that has been wrapped in a hoop. This gives the object extra stability and prevents it from collapsing. Hoop wrapped cylinders are often used in manufacturing to create products with a round shape.
Glass Fiber Composites:
Glass fiber composites are materials made from fibers of glass. Glass fibers can be categorized as single-crystal or multi-crystal, the choice of which depends on the application. The most common types of glass fiber used in composites are fumed and precipitated; however, other types such as devitrified and meltblown are also utilized to a certain extent.
Carbon Fiber Composites:
Carbon fiber composites are carbon atoms that are bonded together in crystals to form a polymer. Carbon fibers are the primary raw material used for manufacturing carbon fiber composites. They have several unique properties such as high tensile strength, low thermal expansion, high temperature tolerance, and excellent electrical conductivity which makes them very useful in various industries including aerospace & defense and automotive among others. The growing demand for lightweight materials from these industries is expected to drive the global market over the forecast period.
Application Insights:
The transportation application segment accounted for the largest share of over 30.0% in 2017. The demand is expected to be driven by growing automotive industry, especially in China and India, which are among the leading producers of hoops. In addition, increasing use of fiberglass composite cylinders for manufacturing vehicle gas tanks is expected to drive growth over the forecast period.
The life support application segment was valued at USD 57 million in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030 owing to an increase in demand from endoscopy applications such as videoendoscopes and surgical microscopes that require long-term exposure to high vacuum conditions without experiencing any damage or wear & tear on their components due largely in part due its properties such as strength corrosion resistance & durability coupled with low maintenance cost which makes it highly preferred by medical professionals globally thereby driving growth during the forecast period.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from end-use industries such as oil & gas, transportation, life support, others. In addition, rising disposable income coupled with growing population in countries like China and India has led to an increased demand for consumer goods including home appliances among other products which will drive the market further.
The European region followed Asia Pacific in terms of revenue generation owing to high investments made by governments towards research & development activities for manufacturing high performance composites used across various applications such as aerospace and automotive industry are expected to boost regional growth over the forecast period.
Growth Factors:
- Increasing demand from end-use industries: The global Hoop Wrapped Cylinder market is witnessing a significant growth due to the increasing demand from end-use industries such as automotive, aerospace, and defense.
- Growing popularity of hoop wrapped cylinders in emerging economies: The hoop wrapped cylinder market is growing at a fast pace in the emerging economies due to the growing awareness about its benefits and advantages over traditional methods of packaging products.
- Rising investments by key players in research and development activities: Key players are investing heavily in research and development activities to develop innovative products that can cater to the changing needs of consumers. This is helping them stay ahead of their competitors in the global Hoop Wrapped Cylinder market.
- Technological advancements: Ongoing technological advancements are resulting in new product launches that are helping manufacturers offer better quality products with enhanced features to consumers worldwide. This is contributing significantly towards the growth of the global Hoop Wrapped Cylinder market . 5
Scope Of The Report
Report Attributes
Report Details
Report Title
Hoop Wrapped Cylinder Market Research Report
By Type
Glass Fiber Composites, Carbon Fiber Composites
By Application
Gas Carriers and Storage, Transportation, Life Support, Others
By Companies
Luxfer Gas Cylinder, Hexagon Composites, Sinoma, Aburi Composites, Faber Industrie, Worthington Cylinders, Dragerwerk, Santek, Time Technoplast, Rubis Caribbean, Ullit, Beijing Tianhai Industry
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
163
Number of Tables & Figures
115
Customization Available
Yes, the report can be customized as per your need.
Global Hoop Wrapped Cylinder Market Report Segments:
The global Hoop Wrapped Cylinder market is segmented on the basis of:
Types
Glass Fiber Composites, Carbon Fiber Composites
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
Gas Carriers and Storage, Transportation, Life Support, Others
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:
- Luxfer Gas Cylinder
- Hexagon Composites
- Sinoma
- Aburi Composites
- Faber Industrie
- Worthington Cylinders
- Dragerwerk
- Santek
- Time Technoplast
- Rubis Caribbean
- Ullit
- Beijing Tianhai Industry
Highlights of The Hoop Wrapped 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:
- Glass Fiber Composites
- Carbon Fiber Composites
- By Application:
- Gas Carriers and Storage
- Transportation
- Life Support
- Others
- 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 Hoop Wrapped 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
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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 hoop wrapped cylinder is a type of airbag that uses a metal hoop to enclose the inflator. The hoop helps keep the inflator from coming into contact with other objects in the vehicle, which could cause it to rupture.
Some of the key players operating in the hoop wrapped cylinder market are Luxfer Gas Cylinder, Hexagon Composites, Sinoma, Aburi Composites, Faber Industrie, Worthington Cylinders, Dragerwerk, Santek, Time Technoplast, Rubis Caribbean, Ullit, Beijing Tianhai Industry.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hoop Wrapped 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 Hoop Wrapped Cylinder Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hoop Wrapped 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 Hoop Wrapped 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 Hoop Wrapped Cylinder Market Size & Forecast, 2018-2028
4.5.1 Hoop Wrapped Cylinder Market Size and Y-o-Y Growth
4.5.2 Hoop Wrapped Cylinder Market Absolute $ Opportunity
Chapter 5 Global Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Type
5.2.1 Glass Fiber Composites
5.2.2 Carbon Fiber Composites
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Applications
6.2.1 Gas Carriers and Storage
6.2.2 Transportation
6.2.3 Life Support
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hoop Wrapped 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 Hoop Wrapped 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 Hoop Wrapped Cylinder Analysis and Forecast
9.1 Introduction
9.2 North America Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Type
9.6.1 Glass Fiber Composites
9.6.2 Carbon Fiber Composites
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 Hoop Wrapped Cylinder Market Size Forecast by Applications
9.10.1 Gas Carriers and Storage
9.10.2 Transportation
9.10.3 Life Support
9.10.4 Others
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 Hoop Wrapped Cylinder Analysis and Forecast
10.1 Introduction
10.2 Europe Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Type
10.6.1 Glass Fiber Composites
10.6.2 Carbon Fiber Composites
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 Hoop Wrapped Cylinder Market Size Forecast by Applications
10.10.1 Gas Carriers and Storage
10.10.2 Transportation
10.10.3 Life Support
10.10.4 Others
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 Hoop Wrapped Cylinder Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Type
11.6.1 Glass Fiber Composites
11.6.2 Carbon Fiber Composites
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 Hoop Wrapped Cylinder Market Size Forecast by Applications
11.10.1 Gas Carriers and Storage
11.10.2 Transportation
11.10.3 Life Support
11.10.4 Others
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 Hoop Wrapped Cylinder Analysis and Forecast
12.1 Introduction
12.2 Latin America Hoop Wrapped Cylinder 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 Hoop Wrapped Cylinder Market Size Forecast by Type
12.6.1 Glass Fiber Composites
12.6.2 Carbon Fiber Composites
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 Hoop Wrapped Cylinder Market Size Forecast by Applications
12.10.1 Gas Carriers and Storage
12.10.2 Transportation
12.10.3 Life Support
12.10.4 Others
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) Hoop Wrapped Cylinder Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hoop Wrapped Cylinder 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) Hoop Wrapped Cylinder Market Size Forecast by Type
13.6.1 Glass Fiber Composites
13.6.2 Carbon Fiber Composites
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) Hoop Wrapped Cylinder Market Size Forecast by Applications
13.10.1 Gas Carriers and Storage
13.10.2 Transportation
13.10.3 Life Support
13.10.4 Others
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 Hoop Wrapped Cylinder Market: Competitive Dashboard
14.2 Global Hoop Wrapped Cylinder Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Luxfer Gas Cylinder
14.3.2 Hexagon Composites
14.3.3 Sinoma
14.3.4 Aburi Composites
14.3.5 Faber Industrie
14.3.6 Worthington Cylinders
14.3.7 Dragerwerk
14.3.8 Santek
14.3.9 Time Technoplast
14.3.10 Rubis Caribbean
14.3.11 Ullit
14.3.12 Beijing Tianhai Industry
