Press release
Global CNG Tank (CNG Cylinder) Industry Projected to Reach 1050 Million US$ by 2025, at a CAGR of 4.8%
In terms of production side, this report researches the CNG Tank (CNG Cylinder) capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.
In terms of consumption side, this report focuses on the consumption of CNG Tank (CNG Cylinder) by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.
CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.
The CNG Tank/Cylinder industry is not highly concentrated, there are more than one hundred manufacturers in the world, and high-end products mainly come from North America and Western Europe. Limited refueling infrastructures, and higher prices of composite cylinders, are some of the factors that hinder the growth of the CNG tanks/cylinders. Rising price of raw materials such as metals, glass fiber, carbon fiber, and other components used in manufacturing of CNG tanks/cylinders are the few challenges inhibiting the growth of the CNG tanks/cylinders market.
In the world wide, major manufactures mainly are Sinomatech, Everest Kanto Cylinders, Worthington Industries, Luxfer Group, Hexagon Composites, Beijing Tianhai Industry, Rama Cylinders, Quantum Technologies, Faber Industrie, CIMC ENRIC, Avanco Group and etc.
The CNG Tank (CNG Cylinder) market was valued at 730 Million US$ in 2017 and is projected to reach 1050 Million US$ by 2025, at a CAGR of 4.8% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for CNG Tank (CNG Cylinder).
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This report includes the following manufacturers; we can also add the other companies as you want.
Sinomatech
Everest Kanto Cylinders
Worthington Industries
Luxfer Group
Hexagon Composites
Beijing Tianhai Industry
Rama Cylinders
Quantum Technologies
Faber Industrie
Praxair Technologies
CIMC ENRIC
Lianzhong Composites
Avanco Group
Ullit
Market Segment by Product Type
Type 1
Type 2
Type 3
Type 4
Others
Market Segment by Application
Passenger Vehicles
Commercial Vehicles
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