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Automotive Gas Cylinder Materials Market Global Industry Analysis, Trends and Forecast, 2016-2026
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The deployment of cylinders made from composite materials is expected to increase over the forecast period as it reduces weight of the vehicle, leading to increased fuel efficiency. Type IV composite cylinders are expected to emerge as most attractive cylinder type owing to properties such as light weight, corrosion resistance, easy portability and high durability.
The alloying elements such as manganese, silicon, chromium, nickel, molybdenum and vanadium are also added in steel based cylinders in minute amount for integrating various physical characteristics in the material. Growing demand for CNG and alternatively fueled vehicles is expected to create significant demand for automotive gas cylinder materials over the forecast period.
Global Automotive Gas Cylinder Materials Market: Dynamics
Governments across the world are highly focused to reduce emission of greenhouse gases. CNG vehicles emit less greenhouse gases as compared to vehicles that are fueled with other fossil fuels. With increasing demand for CNG vehicles, demand for CNG cylinders is also expected to increase, creating proportionate demand for materials used in cylinder manufacturing.
Factors such as higher initial cost of vehicles that run of CNG is expected to restrain the global automotive gas cylinder materials market over the forecast period. Additionally, hydrogen run vehicles are still in development phase. Growth in R&D activities is expected to develop hydrogen as a viable fuel over the coming years, further creating significant growth opportunities for automotive gas cylinder materials market.
Global Automotive Gas Cylinder Materials Market: Segmentation
Global automotive gas cylinder materials market is segmented on the basis of product type and region. On the basis of product type, the global automotive gas cylinder materials market is segmented into steel, aluminum, HDPE, carbon fibre, glass fibre, aramid fibre and others. Owing to their light weight and enhanced physical and chemical characteristics, composite materials are expected to gain traction by the end of 2026.
Global Automotive Gas Cylinder Materials Market: Region-wise Outlook
The global automotive gas cylinder materials market is segmented into seven key regions, including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa, Asia Pacific excluding Japan (APEJ) and Japan. With large fleet size of vehicles running on CNG, Asia Pacific and North America are expected to represent significant shares in the global automotive gas cylinder materials market by end of 2016.
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Global Automotive Gas Cylinder Materials Market: Key Players
Some of the key players reported in the value chain of automotive gas cylinder materials market include 3M, Beijing China Tank Industry Co. Ltd., CleanNG, CNG Cylinders International, Cobham plc, Faber Industrie S.p.A., Luxfer Gas Cylinders, Quantum Fuel Systems LLC., Everest Kanto Cylinder Ltd. And MCS Technologies GmbH.
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