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Growth Opportunities in Global Automotive Composite CNG Tank Market 2010-2015: Trends, Forecast and Market Share Analysis
Lucintel, March 2010, Pages: 130
CNG is natural gas that has been compressed into a high-pressure container for transportation or storage. Initially the high-pressure cylinders used to store the natural gas were manufactured and tested in accordance with the industrial cylinder standards.
High pressure composite vessels were introduced more than 70 years before and were especially developed for space and military applications. The experimentation of composite vessels started in the 50s but the first high pressure vessels used for space and military applications started actually in the 60s in the US. In the late 1980’s, experimental applications of composite reinforced plastic liners in CNG service occurred in Sweden, Russia and France. Following the development of natural gas vehicle cylinder standards in North America, fully-wrapped designs with relatively thin aluminum liners or plastic liners reinforced with a full wrapping of glass fiber and/or carbon fiber reinforcement were introduced into CNG service commencing in 1992.
According to the report “Opportunities for Composites in Global CNG Tank Market: 2010-2015” Composites in CNG tank market is expected to grow at double digit rate in coming five years with focus on weight reduction, fuel efficiency and better vehicle performance. Over the next 5 years, total composites consumption in CNG Tank market is expected to continue strong a growth momentum of 10% CAGR i.e. by 2015, and CNG composites tank market is estimated to grow at a CAGR of 15%. The end product market is expected to reach above $120 M by 2015.
Composites CNG tank market holds promising present and future for light weight tanks with an increased focus on environmental performance and fuel efficiency. Traditional tank manufacturers are repositioning their companies by customizing and widening their product offering. Heavy Duty Vehicles are the most significant application of composites tanks but Light Duty Vehicles are gaining popularity and expected to grow with double digit growth rate. Significant regional shift is taking place in the overall CNG tank market; this new dimension is likely to provide tremendous growth to regional players and existing companies are expected to face fierce competition in the coming time.
This unique report will provide you with valuable information, insights and tools needed to identify new growth opportunities and operate your business successfully in CNG tank market.
This report will save your hundreds of hour’s personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
Features of This Report:
To make business, investment, or strategic decisions, you need timely and adequate information.
This market report fulfils this core need and is an indispensable reference guide for multi-national material suppliers, product manufacturers, investors, executives, distributors and many more, who are dealing with the composites market. Some of the features of this market report are:
- Market size of Composites CNG tank market by value & volume shipment.
- Composite shipment volumes across various types of tanks ,i.e. type-II,III & IV
- Different high potential application areas of composites in LDV’s, HDV’s & other vehicles.
- Major growth drivers for each of different type of tanks
- Trend (2004-2009) and forecast (2010-2015) for composites market in CNG tank with the material of choice for the tank manufacturers, growing segment for CNG tanks.
- Strength and Weakness of each of the composites market.
- Regional breakdown has been provided in the report.
Benefits of Lucintel Report:
The author’s core competency is in market research and management consulting. In last 10 years, the author has worked on hundreds of market research studies. Lucintel’s market report offers following benefits.
- It saves you money, as compared to doing research in-house. ($80,000+)
- It saves you time. The author delivers the report in hours vs. months of in-house data collection and report writing.
- It is an un-biased source of industry facts, intelligence and insights.
- It helps you make confident business decisions quickly.
Who Can Benefit From This Report:
This study is intended for material suppliers, parts fabricators, OEMs, investors, executives and consultants. This multi-client market study from the author is used by small to multi-national Fortune 500 companies and utilized for a variety of reasons as follows.
- Business development
- Strategic planning
- Business presentation
- Determination of market size and trend
- Competitive analysis
- Personnel training
- Budgeting
- Investment Decision
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