Press release
6.8% Annual Growth Expected in CNG Type 3 & Type 4 Tank Market, Projected to Reach $498.8 Million by 2032
The global CNG type 3 and type 4 tank market size was valued at $263.9 million in 2022, and is projected to reach $498.8 million by 2032, growing at a CAGR of 6.8% from 2023 to 2032.
๐๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ : https://www.alliedmarketresearch.com/request-sample/A323304
๐๐ก๐ ๐ ๐ฅ๐๐ฌ๐ฌ ๐๐ข๐๐๐ซ ๐๐จ๐ฆ๐ฉ๐จ๐ฌ๐ข๐ญ๐๐ฌ ๐ซ๐๐ฐ ๐ฆ๐๐ญ๐๐ซ๐ข๐๐ฅ๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
Depending on raw materials, the glass fiber composites raw materials segment held the highest market share in 2022, accounting for nearly half of the global CNG type 3 and type 4 tank market revenue and is estimated to maintain its leadership status during the forecast period as glass fibers offer a compelling balance between strength and cost-efficiency, making them a popular choice for CNG Type 3 tank production. However, the carbon fiber composites raw materials segment is projected to register the highest CAGR of 7.7% from 2023 to 2032, as carbon fibers, combined with high-performance polymer matrices, enable the production of lightweight and high-pressure CNG Type 4 tanks, which are crucial for extending vehicle range and minimizing emissions.
๐๐ก๐ ๐ญ๐ฒ๐ฉ๐ ๐ ๐๐๐ ๐ญ๐๐ง๐ค๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐๐๐ซ๐ฌ๐ก๐ข๐ฉ ๐ฌ๐ญ๐๐ญ๐ฎ๐ฌ ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
On the basis of type, the type 3 CNG tanks segment held the highest market share in 2022, accounting for nearly three-fifths of the global CNG type 3 and type 4 tank market revenue and is anticipated to maintain its leadership status throughout the forecast period as these tanks strike a balance between weight savings and affordability, making them suitable for a wide range of CNG vehicle applications. Moreover, the type 4 CNG tanks segment is projected to manifest the highest CAGR of 7.4% from 2023 to 2032, as These tanks offer superior weight savings and high-pressure storage capabilities, which are crucial for optimizing vehicle range and fuel efficiency.
๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ : https://www.alliedmarketresearch.com/cng-type-3-and-type-4-tank-market/purchase-options
๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
Region-wise, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the market revenue and is expected to dominate the market during the forecast period.The same segment is expected to witness the highest CAGR of 8.2% from 2023 to 2032.
๐๐๐๐๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
Anhui Clean Energy Co., Ltd.
Beijing Tianhai Industry Co. Ltd.
Everest Kanto Cylinders Ltd.
Faber Industrie S.P.A
Fiba Technologies
Hexagon Agility
Luxfer Group
Quantum Fuel Systems Technologies Worldwide Inc
Worthington Industries
Indoruss Synergy Pvt. Ltd.
Santek
Shandong AUYAN New Energy Technology Co., Ltd.
Time Technoplast Ltd.
Hanwha Solutions
Shanghai Metal Corporation
Beijing SinoCleansky Technologies Corp
Weifang Hengsheng Gas Co.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/A323304
The report provides a detailed analysis of these key players in the global CNG type 3 and type 4 tank market. These players have adopted various strategies such as contracts, agreements, partnerships, and expansion to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ :
Hydrogen Fuel Cell Vehicle Market https://www.alliedmarketresearch.com/hydrogen-fuel-cell-vehicle-market
Automotive Seat Climate Systems Market https://www.alliedmarketresearch.com/automotive-seat-climate-systems-market
Truck Suspension System Market https://www.alliedmarketresearch.com/truck-suspension-system-market-A12735
Automotive Carbon Fiber Market https://www.alliedmarketresearch.com/automotive-carbon-fiber-market-A12796
๐๐จ๐ง๐ญ๐๐๐ญ :
David Correa
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๐๐๐จ๐ฎ๐ญ ๐ฎ๐ฌ :
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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