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CNG Cylinders Market By Type (Type 1, Type 2, Type 3, Type 4), By Material (Metal, Glass Fiber, Carbon Fiber), By Application (Light Passenger Vehicles, Medium Duty/Heavy Duty (MD/HD) Buses, Medium Duty/Heavy Duty (MD/HD) Trucks) - Growth, Future Prospects And Competitive Analysis 2017 – 2025

This report, titled "CNG Cylinders Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025," offers strategic insights into the trends in the CNG cylinders market along with the market size and forecast for the duration of 2017–2025. The said research study incorporates an in-depth analysis of multiple market segments based on type, material, application, and geographical distribution.

The global CNG cylinder market is becoming increasingly competitive, with a growing number of mergers and collaborations between market players to expand their production capabilities to meet the demand for CNG cylinders. In addition, several players are also focused on developing their niche in the market. The rapid growth of this market has also resulted in the creation of further skilled job opportunities in major hubs spread across North America, Europe, Latin America, the Middle East and Africa, and Asia Pacific.

Based on type, the global CNG cylinders market is segmented as type 1, type 2, type 3, and type 4. By material, the global CNG market is segmented into metal, glass fiber, and carbon fiber. On the basis of application, the global CNG cylinders market is categorized into light passenger vehicles, medium- and heavy-duty (MD/HD) buses, medium- and heavy-duty (MD/HD) trucks, and others (autos).

In addition, CNG cylinder manufacturing companies, distributors, and academic organizations form the major client types for the CNG cylinder market. The market size (US$ Mn) and forecast for all the considered segmentations are presented in this report for the period 2015–2025, along with their respective CAGRs (%) for the forecast period 2017–2025.

In terms of geographical distribution, the global CNG cylinders market is a study of five major regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Market size and forecasts for each regional and country-level market are included in the report for the considered periods. To clarify further,

The geographical distribution of the global CNG cylinders market is as follows:

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
  • Latin America
  • Brazil
  • Mexico
  • rest of Latin America
  • Middle East and Africa (MEA)
  • GCC
  • the remainder of MEA

Along with the quantitative information sets, this report also provides qualitative information, such as market dynamics and an executive summary, for the global CNG cylinders market. The report also includes tools to help readers with competitive mappings, such as competition assessment and appealing investment propositions. This study concludes with a company profile section. This section includes major information about the key companies engaged in the development and provision of CNG cylinders.

The global CNG cylinders market is divided into the following segments based on material:

  • Metal
  • Glass Fiber
  • Carbon Fiber

On the basis of material, the global CNG cylinders market can be segmented into metal, glass fiber, and carbon fiber. In 2016, the metal segment accounted for the largest share of the global CNG cylinders market. Metal fibers find application in Type 1, Type 2, and Type 3 CNG cylinders.

Wide arrays of applications of metal fiber are anticipated to drive the growth of the segment during the forecast period. The carbon fiber segment is projected to be the fastest-growing segment in the global CNG cylinder market. Increasing demand for lightweight cylinders of type 4 cylinders is projected to drive the growth of the segment over the forecast period (2017–2025).

The global CNG cylinders market is classified into the following types:

  • Type 1
  • Type 2
  • Type 3
  • Type 4

On the basis of type, the global CNG cylinders market can be segmented into types 1, 2, 3, and 4. Type 1 accounted for the largest share of the global CNG cylinder market. Type 1 was estimated to be the largest segment among all types in the global CNG cylinder market. Low cost, coupled with the easy availability of type 1 cylinders, is anticipated to drive the growth of this segment.

The type 4 segment is anticipated to be the fastest-growing segment. Increasing demand for lightweight cylinders with anti-corrosive properties is projected to drive the growth of the segment during the forecast period (2017–2025).

Based on the application, the global CNG cylinder market is segmented as follows:

  • Light Passenger Vehicles
  • Medium duty/heavy-duty (MD/HD) Buses
  • Medium duty/heavy-duty (MD/HD) Trucks
  • Others (Autos)

On the basis of application, the global CNG cylinders market can be segmented into light passenger vehicles, medium- and heavy-duty (MD/HD) buses, medium- and heavy-duty (MD/HD) trucks, and others (autos). In 2016, light passenger vehicles were observed to be the largest application segment and were projected to maintain their dominance during the forecast period.

Growth in the number of passenger vehicles, as well as increased adoption of compressed natural gas as an alternative fuel, are expected to drive demand for CNG cylinders in passenger vehicles over the forecast period. The segment of medium- and heavy-duty (MD/HD) buses accounts for the second-largest share of the global CNG cylinders market.

Growing environmental concerns over the emission of greenhouse gases coupled with favorable regulatory policies to increase the adoption of CNG as a fuel in public transport vehicles are expected to fuel the growth of the segment over the forecast period (2017–2025).

For the purpose of this study, the global CNG cylinders market is categorized into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

On the basis of geography, the global CNG cylinders market can be segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2016, Asia Pacific accounted for the largest share of the global CNG cylinders market and was also projected to witness robust growth during the forecast period.

Increasing sales of automobiles are driving the demand for fossil fuel, which is influencing the demand for CNG, which in turn is driving the demand for CNG cylinders. Moreover, increasing government initiatives to promote the usage of CNG are expected to fuel the demand for CNG cylinders in the region.

China is anticipated to be the largest consumer in the region. Followed by it, India is projected to be the second largest consumer in the region. In 2016, North America held the second-largest share of the global CNG cylinders market.

Increasing production of shale gas, along with a regulatory push by the government to reduce the dependency on conventional oil, is expected to fuel the demand for CNG cylinders in the region. The region is projected to witness high growth over the forecast period (2017–2025).

Frequently Asked Question:

he market for CNG Cylinders Market is expected to reach USD$ 4.0 Bn in 2025.

The CNG Cylinders Market is expected to see significant CAGR growth over the coming years, at 12.3%.

The report is forecasted from 2017 -2025.

The base year of this report is 2016.

Avanco Group,Beijing Tianhai Industry,CIMC ENRIC,Everest Kanto Cylinders,Faber Industries,Hexagon Composites. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  May 2017
Category:  Oil & Gas
Report ID:   58478
Report Format:   PDF
Pages:   120
Rating:    4.7 (65)
Delivery Time: 24 Hours to 48 Hours   
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