Press release
Composite Cylinder Market Set to Reach USD 1.35 Billion by 2030
Composite Cylinder Market
The global composite cylinder market is on a robust growth trajectory, with projections indicating a rise from approximately USD 0.85 billion in 2023 to nearly USD 1.35 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.8% during the forecast period.
This expansion is primarily driven by the increasing demand for lightweight and high-strength materials across various industries, including automotive, aerospace, and energy sectors.
๐๐จ๐ฆ๐ฉ๐จ๐ฌ๐ข๐ญ๐ ๐๐ฒ๐ฅ๐ข๐ง๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ข๐ณ๐ ๐๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก
Composite cylinders, known for their superior strength-to-weight ratio and resistance to corrosion, are becoming the preferred choice over traditional steel cylinders. Their applications span from gas storage and transportation to life support systems. The market's growth is further propelled by the rising adoption of alternative fuels and the need for efficient gas storage solutions.
๐๐๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/72792/
๐๐จ๐ฆ๐ฉ๐จ๐ฌ๐ข๐ญ๐ ๐๐ฒ๐ฅ๐ข๐ง๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ-๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ฝ๐๐๐๐๐๐
Vietnam is witnessing a surge in demand for composite cylinders, particularly in the domestic and industrial sectors. The government's initiatives to promote the use of clean energy and the growing industrial base are significant contributors to this trend.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐ป๐๐๐๐๐๐๐
Thailand's automotive and manufacturing industries are increasingly adopting composite cylinders due to their lightweight and safety features. This shift is expected to enhance fuel efficiency and reduce emissions, aligning with global environmental standards.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฑ๐๐๐๐
Japan is at the forefront of technological advancements in composite materials. The country's focus on research and development has led to the production of high-quality composite cylinders, meeting the stringent safety and performance standards required in various sectors.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ช๐๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐ ๐ฒ๐๐๐๐
South Korea's market is experiencing consolidation, with key players engaging in mergers and acquisitions to strengthen their market position. This strategy is aimed at enhancing product offerings and expanding their reach in the global market.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ผ๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐
Singapore is updating its infrastructure to incorporate composite cylinders, especially in the maritime and logistics sectors. The emphasis on safety and efficiency is driving the adoption of these advanced cylinders.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐ ๐๐๐ ๐ผ๐๐๐๐๐ ๐บ๐๐๐๐๐
The United States is witnessing significant growth in the composite cylinder market, driven by the increasing use of alternative fuels and the need for lightweight storage solutions in the automotive and aerospace industries.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ช๐๐๐๐
China's rapid industrialization and urbanization are creating substantial opportunities for the composite cylinder market. The government's focus on reducing carbon emissions is further propelling the demand for efficient gas storage solutions.
๐ช๐๐๐๐๐๐๐๐ ๐ช๐๐๐๐๐ ๐๐ ๐ด๐๐๐๐๐ ๐ป๐๐๐๐ ๐ ๐๐ ๐ฌ๐๐๐๐๐
Europe is experiencing a shift towards sustainable and efficient energy solutions, leading to increased adoption of composite cylinders. The region's stringent environmental regulations are also contributing to this trend.
๐๐๐ฒ ๐๐๐๐๐ง๐ญ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ
Recent developments in the composite cylinder market include significant mergers and acquisitions aimed at enhancing product portfolios and expanding market reach. For instance, in 2024, cross-border mergers and acquisitions involving companies in the Asia-Pacific region rose by 25% year-on-year to $286 billion, with around 80% of them transacted with an entity outside the region.
๐๐จ ๐๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง ๐๐๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ฏ๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/request-sample/72792/
๐๐จ๐ฆ๐ฉ๐จ๐ฌ๐ข๐ญ๐ ๐๐ฒ๐ฅ๐ข๐ง๐๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฎ ๐๐๐๐๐ง ๐๐ฎ๐ฅ๐
Carbon Fibers
Glass Fibers
High-Density Polyethylene
Other
๐๐ฎ ๐๐๐ฃ๐ ๐๐ฎ๐ฅ๐
Type I
Type II
Type III
Type IV
๐๐ฎ ๐๐ฃ๐-๐๐จ๐๐ง
Aerospace & Defense
Wind Energy
Transportation
Construction & Infrastructure
Marine
Pipes & Tanks
Electrical & Electronics
Others
During the above indicated forecast period, the fastest-growing segment by end-user is anticipated to be aerospace and defence, with a growth rate of 3.3%. This is primarily because high-performance composites are being researched for space and underwater operations and have become a crucial part of aircraft structural composites.
The use of thermoplastic composites, which have demonstrated notable performance gains over conventional thermoset composites, has expanded due to the concepts of modified yarn architectures, co-weaving, and co-mingling. To create high-pressure composite cylinders with the highest possible protection, durability, and least amount of weight, the behaviour of composite structures under various thermo-mechanical loadings is tracked.
๐ ๐จ๐ซ ๐ ๐ฆ๐จ๐ซ๐ ๐ข๐ง-๐๐๐ฉ๐ญ๐ก ๐ฎ๐ง๐๐๐ซ๐ฌ๐ญ๐๐ง๐๐ข๐ง๐ , ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ซ๐๐๐๐ซ ๐ญ๐จ ๐ญ๐ก๐ ๐๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐ ๐ฅ๐ข๐ง๐ค: https://www.maximizemarketresearch.com/request-sample/72792/
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐จ๐ฌ๐ข๐ญ๐ ๐๐ฒ๐ฅ๐ข๐ง๐๐๐ซ ๐๐๐ง๐ฎ๐๐๐๐ญ๐ฎ๐ซ๐๐ซ๐ฌ ๐ข๐ง๐๐ฅ๐ฎ๐๐:
1. Time Technoplast Limited
2. Hexagon Composites ASA
3. AMS Composite Cylinders
4. Luxfer Gas Cylinders
5. Drรคgerwerk AG & Co. KGaA.
6. FABER INDUSTRIE S.P.A.
7. Dragerwerk
8. Worthington Cylinders
9. Sinoma
10.Quantum Technologies
11.Aburi Composites
12.HITACHI
13.KOMATSU
14.Vektra Engineering Pvt. Ltd.
15.Ullit
๐ ๐จ๐ซ ๐๐๐๐ฉ๐๐ซ ๐ฆ๐๐ซ๐ค๐๐ญ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐ฉ๐๐ซ๐ฎ๐ฌ๐ ๐ญ๐ก๐ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ:
Honey Wine Market https://www.maximizemarketresearch.com/market-report/honey-wine-market/198499/
Cane Sugar Market https://www.maximizemarketresearch.com/market-report/cane-sugar-market/145896/
Global Chocolate inclusions & Decorative Market https://www.maximizemarketresearch.com/market-report/global-chocolate-inclusions-decorative-market/83036/
Fish Powder Market https://www.maximizemarketresearch.com/market-report/fish-powder-market/124649/
Global Beverages Flavor Market https://www.maximizemarketresearch.com/market-report/beverages-flavor-market/122340/
Organic Soup Market https://www.maximizemarketresearch.com/market-report/organic-soup-market/221137/
Dulse Palmaria Market https://www.maximizemarketresearch.com/market-report/dulse-palmaria-market/199890/
Global Food Fortifying Agents Market https://www.maximizemarketresearch.com/market-report/global-food-fortifying-agents-market/94013/
Roasted Coffee Market https://www.maximizemarketresearch.com/market-report/roasted-coffee-market/220786/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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