Press release
Automotive Compressed Natural Gas Cylinders Market is expected to reach USD 9.89 Billion by 2030 : Cognitive Market Research
Automotive Compressed Natural Gas Cylinders Market is expected to reach USD 9.89 Billion by 2030 : Cognitive Market Research
What are automotive compressed natural gas cylinders?
- CNG automobiles function similarly to gasoline-powered automobiles with internal combustion engines. The engine works in the same way that a gasoline engine does. Natural gas is normally stored in an oil tank, or chamber, at the rear of the vehicle.
Summary:
- The Automotive Compressed Natural Gas Cylinders Market is expected to grow from USD 5.77 Billion in 2022 to USD 9.89 Billion by 2030, at a CAGR of 10.01%.
"To know more about The Automotive Compressed Natural Gas Cylinders Market statistics click here: https://www.cognitivemarketresearch.com/automotive-compressed-natural-gas-cylinders-market-report
Market Dynamics:
• The rising demand for automotive propels the market growth
The need for vehicles has increased as the population has grown. Almost every family in the world owns at least one vehicle. People rely on automobiles as a need is drastically increasing. People use automobiles to commute to work, visit another state, go on vacation, and do daily errands. Vehicles, in reality, are the most extensively utilized equipment for transportation and other basic everyday necessities.
According to the study, global car sales increased to roughly 66.7 million vehicles in 2021, up from around 63.8 million units in 2020. Almost half of the worldwide customers (46 percent) are thinking about buying a car in the next 12 months, up from 35% in April 2020. The usage of buses, trucks, and other commercial vehicle is also increased. To meet this rising demand vehicle production has been rising rapidly. This in turn drives the market growth.
• Electric vehicles can restrain the adoption of CNG cylinders for automotive
Low acceptability and high initial installation costs of self-healing grid technology may stymie the industry's growth. Electric car sales have expanded exponentially in recent years, owing to the enhanced range, wider model availability, and improved performance. Electric car sales set a new high in 2021 with 2020 sales nearly doubled to 6.6 million, increasing the total number of electric cars on the road to 16.5 million. This factor can decline the demand for CNG cylinders for automotive.
• Increasing natural gas consumption is recovering the market growth
Compressed natural gas is an eco-friendly as well as an economical replacement to fuels like petrol and diesel. Thus, the consumption of natural gas is rising
Market Segmentation:
Type
• Steel
• Composite Materials
• Aluminum Alloy
Application
• Cars
• Commercial Vehicle
• Pickup Trucks
• SUV
The Major Players in Automotive Compressed Natural Gas Cylinders Market are:
Worthington Industries, Hexagon, Avanco, Faber, Ulit, Beijing Tianhai Industry, EKC
Get free sample pages of the latest published Automotive Compressed Natural Gas Cylinders market Report:
https://www.cognitivemarketresearch.com/automotive-compressed-natural-gas-cylinders-market-report/report_enquiry?id=4
Regional Analysis:
- Asia Pacific dominates the automotive compressed natural gas cylinders market
Geographically, the global Automotive compressed natural gas cylinders market is divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Asia Pacific dominates the market owing to rising government support, growing urbanization, rising vehicle production, growing disposable income, and usage of innovative technologies for the manufacturing of automobiles.
Automotive Compressed Natural Gas Cylinders Market Recent News
- In February 2021, Nitin Gadkari, India's Union Road Transport and Highways Minister, unveiled the country's first diesel tractor, which has been converted to a cleaner (compressed natural gas) CNG version. Farmers could save more than $1 trillion each year on fuel expenditures as a result of this, which will help them enhance their livelihood.
Browse here for Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Automotive Compressed Natural Gas Cylinders Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Automotive Compressed Natural Gas Cylinders Market Segmentation
1.5.1 Automotive Compressed Natural Gas Cylinders Market Regional Fragmentation
1.5.1 Automotive Compressed Natural Gas Cylinders Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Automotive Compressed Natural Gas Cylinders Market
Chapter 4 Global Automotive Compressed Natural Gas Cylinders Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Automotive Compressed Natural Gas Cylinders Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Automotive Compressed Natural Gas Cylinders Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Automotive Compressed Natural Gas Cylinders Market Regional Analysis
Chapter 12 North America Automotive Compressed Natural Gas Cylinders Market Outlook (2018 - 2030)
Chapter 13 Europe Automotive Compressed Natural Gas Cylinders Market Outlook (2018 - 2030)
Chapter 14 Asia Pacific Automotive Compressed Natural Gas Cylinders Market Outlook (2018 - 2030)
Chapter 15 Latin America Automotive Compressed Natural Gas Cylinders Market Outlook (2018 - 2030)
Chapter 16 Middle East and Africa Automotive Compressed Natural Gas Cylinders Market Outlook (2018 - 2030)
Chapter 17 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more Automotive Compressed Natural Gas Cylinders Market TOC click here: https://www.cognitivemarketresearch.com/automotive-compressed-natural-gas-cylinders-market-report#table_of_contents
Related Report:
• Compressed Natural Gas CNG Market - https://www.cognitivemarketresearch.com/compressed-natural-gas-cng-market-report
• CNG and LPG Vehicles Market - https://www.cognitivemarketresearch.com/cng-and-lpg-vehicles-market-report
• Automotive Fuel Cell Market - https://www.cognitivemarketresearch.com/automotive-fuel-cell-market-report
• Automotive Fuel Cell Parts Market - https://www.cognitivemarketresearch.com/automotive-fuel-cell-parts-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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