Global CNG Tank Market Growth 2023-2029

Global CNG Tank Market Growth 2023-2029

CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.

LPI (LP Information)' newest research report, the “CNG Tank Industry Forecast” looks at past sales and reviews total world CNG Tank sales in 2022, providing a comprehensive analysis by region and market sector of projected CNG Tank sales for 2023 through 2029. With CNG Tank sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world CNG Tank industry.

This Insight Report provides a comprehensive analysis of the global CNG Tank landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on CNG Tank portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global CNG Tank market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for CNG Tank and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global CNG Tank.

The global CNG Tank market size is projected to grow from US$ 866.7 million in 2022 to US$ 1178.9 million in 2029; it is expected to grow at a CAGR of 1178.9 from 2023 to 2029.

The major players in global CNG Tank (CNG Cylinder) market include Everest Kanto Cylinders, Worthington Industries, Sinomatech, etc. The top 3 players occupy about 25% shares of the whole market. North America and Europe are main markets, they occupy about 50% of the global market. Type 2 CNG Tank is the main type, with a share about 40%. Passenger Vehicles is the key application, which holds a share about 70%.

This report presents a comprehensive overview, market shares, and growth opportunities of CNG Tank market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Glass Fiber Composite Material
Carbon Fiber Composite
Metal Material

Segmentation by application
Shipping
Land Transportation

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Faber Industrie
Hexagon Composites ASA
Luxfer Gas Cylinder
Faber Industrie
Beijing Tianhai Industry
Worthington Cylinders GmbH
Quantum Fuel System Technologies
Everest Kanto Cylinder
Zhongyou Tongyong Luxi Natural Gas Equipment
FIBA Technologies
CIMC Enric Holdings
Sinoma Science & Technology(SuZhou)

Key Questions Addressed in this Report

What is the 10-year outlook for the global CNG Tank market?

What factors are driving CNG Tank market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do CNG Tank market opportunities vary by end market size?

How does CNG Tank break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.