Composite Cylinder Market Set to Reach USD 1.35 Billion by 2030

𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐂𝐲𝐥𝐢𝐧𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐨𝐢𝐬𝐞𝐝 𝐟𝐨𝐫 𝐒𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐆𝐫𝐨𝐰𝐭𝐡

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.

𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐂𝐲𝐥𝐢𝐧𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐚𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡

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.

𝐆𝐞𝐭 𝐲𝐨𝐮𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐰: https://www.maximizemarketresearch.com/request-sample/72792/

𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐂𝐲𝐥𝐢𝐧𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐮𝐧𝐭𝐫𝐲-𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑽𝒊𝒆𝒕𝒏𝒂𝒎

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝑻𝒉𝒂𝒊𝒍𝒂𝒏𝒅

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑱𝒂𝒑𝒂𝒏

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑪𝒐𝒏𝒔𝒐𝒍𝒊𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑺𝒐𝒖𝒕𝒉 𝑲𝒐𝒓𝒆𝒂

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑼𝒑𝒅𝒂𝒕𝒊𝒐𝒏 𝒊𝒏 𝑺𝒊𝒏𝒈𝒂𝒑𝒐𝒓𝒆

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑮𝒓𝒐𝒘𝒕𝒉 𝒊𝒏 𝒕𝒉𝒆 𝑼𝒏𝒊𝒕𝒆𝒅 𝑺𝒕𝒂𝒕𝒆𝒔

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑶𝒑𝒑𝒐𝒓𝒕𝒖𝒏𝒊𝒕𝒊𝒆𝒔 𝒊𝒏 𝑪𝒉𝒊𝒏𝒂

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.

𝑪𝒐𝒎𝒑𝒐𝒔𝒊𝒕𝒆 𝑪𝒚𝒍𝒊𝒏𝒅𝒆𝒓 𝑴𝒂𝒓𝒌𝒆𝒕 𝑻𝒓𝒆𝒏𝒅𝒔 𝒊𝒏 𝑬𝒖𝒓𝒐𝒑𝒆

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.

𝐊𝐞𝐲 𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬

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.

𝐓𝐨 𝐟𝐢𝐧𝐝 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭: https://www.maximizemarketresearch.com/request-sample/72792/

𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐂𝐲𝐥𝐢𝐧𝐝𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

𝙗𝙮 𝙁𝙞𝙗𝙚𝙧 𝙏𝙮𝙥𝙚

Carbon Fibers
Glass Fibers
High-Density Polyethylene
Other

𝙗𝙮 𝙏𝙖𝙣𝙠 𝙏𝙮𝙥𝙚

Type I
Type II
Type III
Type IV

𝙗𝙮 𝙀𝙣𝙙-𝙐𝙨𝙚𝙧

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.

𝐅𝐨𝐫 𝐚 𝐦𝐨𝐫𝐞 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐫𝐞𝐟𝐞𝐫 𝐭𝐨 𝐭𝐡𝐞 𝐟𝐨𝐥𝐥𝐨𝐰𝐢𝐧𝐠 𝐥𝐢𝐧𝐤: https://www.maximizemarketresearch.com/request-sample/72792/

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞 𝐂𝐲𝐥𝐢𝐧𝐝𝐞𝐫 𝐌𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐞𝐫𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞:

1. Time Technoplast Limited
2. Hexagon Composites ASA
3. AMS Composite Cylinders
4. Luxfer Gas Cylinders
5. Drägerwerk 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

𝐅𝐨𝐫 𝐝𝐞𝐞𝐩𝐞𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐩𝐞𝐫𝐮𝐬𝐞 𝐭𝐡𝐞 𝐬𝐮𝐦𝐦𝐚𝐫𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭:

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/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

MAXIMIZE MARKET RESEARCH PVT. LTD.
3rd Floor, Navale IT park Phase 2,
Pune Banglore Highway, Narhe
Pune, Maharashtra 411041, India.
+91 9607365656
sales@maximizemarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.

This release was published on openPR.