CNG Tanks Market By Raw Material (Glass Fiber Composites Raw Materials, Carbon Fiber Composites Raw Materials, Others), By Propulsion (Petrol, Diesel), By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles), By Type (Type 1 CNG Tanks, Type 2 CNG Tanks, Type 3 CNG Tanks, Type 4 CNG Tanks): Global Opportunity Analysis and Industry Forecast, 2021-2031
Compressed natural gas (CNG) is a mixture of methane and trace quantities of light hydrocarbons, nitrogen, and CO2, which are generated during geological transformation from peat to anthracite coal. It is used as a fuel in vehicles. It is most commonly stored on board vehicles in high pressure tanks, which are usually referred as CNG tanks.
The global automotive industry has experienced tremendous transformation in past few years. The ever-growing demand for passenger safety has made vehicle manufacturers to focus incessantly on forming new design experiences by enabling efficient incorporation of new technologies and processes. Owing to this, the demand for composite cylinders is growing at a faster pace due to the various properties of its materials such as lighter weight, improved safety, and superior corrosion resistance. The rapid surge in the application of natural gas powered vehicles and rise in demand for lightweight storage solutions are positive factors that foster the growth of CNG tanks market.
The CNG tanks market is segmented on the basis of raw material, propulsion, vehicle type, type, and region. By raw material, it is divided into glass fiber composites raw materials, carbon fiber composites raw materials, and others. By propulsion, it is bifurcated into petrol and diesel. By vehicle type, it is fragmented into passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). By type, it is classified into P Type 1 CNG Tanks, Type 2 CNG Tanks, Type 3 CNG Tanks, and Type 4 CNG Tanks. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investments. In addition, it includes Porter’s five forces analysis to understand competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key players that operate in this market include Anhui Clean Energy Co., Ltd., Avanco GmbH, Beijing Tianhai Industry Co., Ltd., Everest Kanto Cylinders Limited, Faber Industrie S.P.A, FIBA Technologies, Inc., Hexagon Composites ASA, Indoruss Synergy Pvt. Ltd., Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Luxfer Holdings PLC, Maruti Koatsu Cylinders Ltd., NGV Technologies Inc., Plastic Omnium, Praxair Technology, Inc., Quantum Fuel Systems LLC, ULLIT, and Worthington Industries Inc
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cng tanks market analysis from 2021 to 2031 to identify the prevailing cng tanks market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the cng tanks market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global cng tanks market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Raw Material
Glass Fiber Composites Raw Materials
Carbon Fiber Composites Raw Materials
Others
By Propulsion
Petrol
Diesel
By Vehicle Type
Passenger Vehicles
Light Commercial Vehicles
Heavy Commercial Vehicles
By Type
Type 1 CNG Tanks
Type 2 CNG Tanks
Type 3 CNG Tanks
Type 4 CNG Tanks
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
Russia
Netherlands
UK
Poland
Spain
Rest Of Europe
Asia-Pacific
China
India
Japan
South Korea
Asean
Rest Of Asia-Pacific
LAMEA
Brazil
United Arab Emirates
Saudi Arabia
South Africa
Rest Of LAMEA
Key Market Players
Anhui Clean Energy Co., Ltd.
Avanco Group
Beijing Tianhai Industry Co. Ltd.
Everest Kanto Cylinders Ltd.
Faber Industrie S.P.A
Fiba technologies
Hexagon Composites ASA
Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
Luxfer Group
Maruti Koatsu Cylinders Ltd
NGV Technologies Inc
Plastic Omnium
Praxair Technologies Inc
Quantum Fuel Systems Technologies Worldwide Inc
Ullit SA
Worthington Industries
Indoruss Synergy Pvt. Ltd.
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