Press release
Lucintel Forecasts the Global Composite Cylinder Market to Reach $1,507 million by 2030
Global Composite Cylinder Market
According to a market report by Lucintel, the future of the global composite cylinder market [https://www.lucintel.com/growth-opportunities-in-the-global-composite-cylinder.aspx] looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries. The global composite cylinder market is expected to reach an estimated $1,507 million by 2030 from $1085.5 billion in 2023, at a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder. Emerging trends which have a direct impact on the dynamics of the industry include the increase in green fleet and development of type V tanks.
Browse 60 figures / charts and 51 tables in this 141 -page report to understand trends, opportunity and forecast in composite cylinder market to 2030 by end use (gas carriers and storage, transportation, life support, recreation and others), tank type (Type II, Type III, Type IV), composite consumption by fiber type (Glass Fiber Composites, Carbon Fiber Composites and Aramid Fiber Composites), and region (North America, Europe, and the Rest of the World (ROW)
Lucintel forecasts that the gas carriers & storage and transportation segments are expected to show above average growth during the forecast period.
Within the global composite cylinder market, the gas carriers & storage segment is expected to remain both the largest and fastest market by value in forecast period.
Europe is expected to remain the largest market for composite cylinder due to the higher acceptance level and increasing use of lightweight cylinders.
Download sample by clicking on composite cylinder market [https://www.lucintel.com/growth-opportunities-in-the-global-composite-cylinder.aspx]
Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit are the major suppliers in the composite cylinder market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. +1-972-636-5056
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Website: https://www.lucintel.com/
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