This report titled CNG Cylinders Market - Growth, Future Prospects, and Competitive Analysis, 2022 - 2030 offers strategic insights into the trends in CNG cylinders market along with the market size and forecast for the duration 2022 to 2030. The said research study incorporates in-depth analysis of multiple market segments based type, material, application and geographical distribution.
The global CNG cylinders market is becoming increasingly competitive with 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. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe, Latin America, Middle East & 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 duty/heavy duty (MD/HD) buses, medium duty/heavy duty (MD/HD) trucks and others (Autos). In addition, CNG cylinders manufacturing companies, distributors and academic organizations form the major client types for CNG cylinders market. Market size (‘000 Units) (US$ Million ) and forecast for all the considered segmentation is presented in this report for the period 2020-2030 along with their respective CAGRs (%) for the forecast period 2022-2030.
Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global CNG cylinders market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of CNG cylinders.
On the basis of type, the global CNG cylinders market can be segmented into type 1, type 2, type 3, and type 4. Type 1 accounted for the largest share in the global CNG cylinders market. Type 1 grade was estimated to be the largest segment among all types in global CNG cylinders market. Low cost coupled with easy availability of type 1 cylinders is anticipated to drive the growth of segment. Type 4 segment is anticipated to be the fastest growing segment. Increasing demand for light weight cylinders, anti-corrosive properties are projected to drive the growth of the segment during the forecast period (2022-2030).
On the basis of application, the global CNG cylinders market can be segmented into light passenger vehicles, medium duty/heavy duty (MD/HD) buses, medium duty/heavy duty (MD/HD) trucks and others (Autos). In 2016, light passenger vehicles was observed to be the largest application segment and is projected to maintain its dominance during the forecast period. Growth in number of passenger vehicles along with increasing adoption of compressed natural gas as alternative fuels is anticipated to spur the demand for CNG cylinders in passenger vehicles over the forecast period. Medium duty/heavy duty (MD/HD) buses segment to account for second largest share in 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 fuel in public transport vehicles is expected to fuel the growth of the segment over the forecast period (2022-2030).
On the basis of geography, global CNG cylinders market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2016, Asia Pacific accounted for the largest share in global CNG cylinders market and also projected to witness robust growth during the forecast period. Increasing sales of automobiles 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 is 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. North America accounted for the second largest share in the global CNG cylinders market in 2020. Increasing production of shale gas along with regulatory push by 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 (2022-2030).
On the basis of Material, the global CNG cylinders market can be segmented into metal, glass fiber and carbon fiber. In 2016, metal segment accounted for the largest share in the global CNG cylinders market. Metal fiber find application in Type 1, Type 2 and Type 3 CNG cylinders. Wide array application of metal fiber is anticipated to drive the growth of the segment during the forecast period. Carbon fiber segment is projected to be the fastest growing segment in global CNG cylinders market. Increasing demand for light weight cylinders type 4 cylinders is projected to drive the growth of the segment over the forecast period (2022-2030).
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
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The global CNG cylinders market is becoming increasingly competitive with 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. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe, Latin America, Middle East & 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 duty/heavy duty (MD/HD) buses, medium duty/heavy duty (MD/HD) trucks and others (Autos). In addition, CNG cylinders manufacturing companies, distributors and academic organizations form the major client types for CNG cylinders market. Market size (‘000 Units) (US$ Million ) and forecast for all the considered segmentation is presented in this report for the period 2020-2030 along with their respective CAGRs (%) for the forecast period 2022-2030.
Along with the quantitative information sets, this report also provides qualitative information such as market dynamics and executive summary for the global CNG cylinders market. Tools such as competition assessment and attractive investment proposition are also included in the report to provide the readers with competitive mapping assistance. This study concludes with company profiles section. This section includes major information about the key companies engaged in development, and provision of CNG cylinders.
On the basis of type, the global CNG cylinders market can be segmented into type 1, type 2, type 3, and type 4. Type 1 accounted for the largest share in the global CNG cylinders market. Type 1 grade was estimated to be the largest segment among all types in global CNG cylinders market. Low cost coupled with easy availability of type 1 cylinders is anticipated to drive the growth of segment. Type 4 segment is anticipated to be the fastest growing segment. Increasing demand for light weight cylinders, anti-corrosive properties are projected to drive the growth of the segment during the forecast period (2022-2030).
On the basis of application, the global CNG cylinders market can be segmented into light passenger vehicles, medium duty/heavy duty (MD/HD) buses, medium duty/heavy duty (MD/HD) trucks and others (Autos). In 2016, light passenger vehicles was observed to be the largest application segment and is projected to maintain its dominance during the forecast period. Growth in number of passenger vehicles along with increasing adoption of compressed natural gas as alternative fuels is anticipated to spur the demand for CNG cylinders in passenger vehicles over the forecast period. Medium duty/heavy duty (MD/HD) buses segment to account for second largest share in 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 fuel in public transport vehicles is expected to fuel the growth of the segment over the forecast period (2022-2030).
On the basis of geography, global CNG cylinders market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2016, Asia Pacific accounted for the largest share in global CNG cylinders market and also projected to witness robust growth during the forecast period. Increasing sales of automobiles 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 is 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. North America accounted for the second largest share in the global CNG cylinders market in 2020. Increasing production of shale gas along with regulatory push by 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 (2022-2030).
On the basis of Material, the global CNG cylinders market can be segmented into metal, glass fiber and carbon fiber. In 2016, metal segment accounted for the largest share in the global CNG cylinders market. Metal fiber find application in Type 1, Type 2 and Type 3 CNG cylinders. Wide array application of metal fiber is anticipated to drive the growth of the segment during the forecast period. Carbon fiber segment is projected to be the fastest growing segment in global CNG cylinders market. Increasing demand for light weight cylinders type 4 cylinders is projected to drive the growth of the segment over the forecast period (2022-2030).
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of CNG Cylinders market are as follows:- Research and development budgets of manufacturers and government spending
- Revenues of key companies in the market segment
- Number of end users and consumption volume, price and value.
- Geographical revenues generate by countries considered in the report
- Micro and macro environment factors that are currently influencing the CNG Cylinders market and their expected impact during the forecast period.
Market Segmentation
Type
- Type 1
- Type 2
- Type 3
- Type 4
Material
- Metal
- Glass Fiber
- Carbon Fiber
Application
- Light Passenger Vehicles
- Medium duty/heavy duty (MD/HD) Buses
- Medium duty/heavy duty (MD/HD) Trucks
- Others (Autos)
Key Questions Answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of CNG Cylinders market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the CNG Cylinders market?
- Which is the largest regional market for CNG Cylinders market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving CNG Cylinders market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the CNG Cylinders market worldwide?
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Table of Contents
1. Preface1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted
2. Executive Summary
2.1. Market Snapshot: Global CNG Cylinders Market
2.2. Global CNG Cylinders Market, By Type, 2021 (US$ Million)
2.3. Global CNG Cylinders Market, By Material, 2021 (US$ Million)
2.4. Global CNG Cylinders Market, By Application, 2021 (US$ Million)
2.5. Global CNG Cylinders Market, By Geography, 2021 (US$ Million)
2.6. Impact of Covid 19
2.7. Attractive Investment Proposition by Geography, 2021
2.8. Competitive Analysis
2.8.1. Market Positioning of Key CNG Cylinders Market Vendors
2.8.2. Strategies Adopted by CNG Cylinders Market Vendors
2.8.3. Key Industry Strategies
3. CNG Cylinders Market: Business Outlook & Market Dynamics
3.1. Introduction
3.2. Global CNG Cylinders Market Value, 2020 - 2030, (US$ Million)
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraints
3.3.3. Key Challenges
3.3.4. Key Opportunities
3.4. Impact Analysis of Drivers and Restraints
3.5. See-Saw Analysis
3.6. Porter’s Five Force Model
3.6.1. Supplier Power
3.6.2. Buyer Power
3.6.3. Threat Of Substitutes
3.6.4. Threat Of New Entrants
3.6.5. Competitive Rivalry
3.7. PESTEL Analysis
3.7.1. Political Landscape
3.7.2. Economic Landscape
3.7.3. Technology Landscape
3.7.4. Legal Landscape
3.7.5. Social Landscape
4. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
4.1. Market Overview
4.2. Growth & Revenue Analysis: 2021 Versus 2030
4.3. Market Segmentation
4.3.1. Type 1
4.3.2. Type 2
4.3.3. Type 3
4.3.4. Type 4
5. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Metal
5.3.2. Glass Fiber
5.3.3. Carbon Fiber
6. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Light Passenger Vehicles
6.3.2. Medium duty/heavy duty (MD/HD) Buses
6.3.3. Medium duty/heavy duty (MD/HD) Trucks
6.3.4. Others (Autos)7. North America CNG Cylinders Market, 2020-2030, USD (Million)
7.1. Market Overview
7.2. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
7.3. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
7.4. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
7.5.CNG Cylinders Market: By Region, 2020-2030, USD (Million)
7.5.1.North America
7.5.1.1. U.S.
7.5.1.2. Canada
7.5.1.3. Rest of North America
8. UK and European Union CNG Cylinders Market, 2020-2030, USD (Million)
8.1. Market Overview
8.2. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
8.3. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
8.4. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
8.5.CNG Cylinders Market: By Region, 2020-2030, USD (Million)
8.5.1.UK and European Union
8.5.1.1. UK
8.5.1.2. Germany
8.5.1.3. Spain
8.5.1.4. Italy
8.5.1.5. France
8.5.1.6. Rest of Europe
9. Asia Pacific CNG Cylinders Market, 2020-2030, USD (Million)
9.1. Market Overview
9.2. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
9.3. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
9.4. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
9.5.CNG Cylinders Market: By Region, 2020-2030, USD (Million)
9.5.1.Asia Pacific
9.5.1.1. China
9.5.1.2. Japan
9.5.1.3. India
9.5.1.4. Australia
9.5.1.5. South Korea
9.5.1.6. Rest of Asia Pacific
10. Latin America CNG Cylinders Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
10.3. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
10.4. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
10.5.CNG Cylinders Market: By Region, 2020-2030, USD (Million)
10.5.1.Latin America
10.5.1.1. Brazil
10.5.1.2. Mexico
10.5.1.3. Rest of Latin America
11. Middle East and Africa CNG Cylinders Market, 2020-2030, USD (Million)
11.1. Market Overview
11.2. CNG Cylinders Market: By Type, 2020-2030, USD (Million)
11.3. CNG Cylinders Market: By Material, 2020-2030, USD (Million)
11.4. CNG Cylinders Market: By Application, 2020-2030, USD (Million)
11.5.CNG Cylinders Market: By Region, 2020-2030, USD (Million)
11.5.1.Middle East and Africa
11.5.1.1. GCC
11.5.1.2. Africa
11.5.1.3. Rest of Middle East and Africa
12. Company Profile
12.1. Sinomatech
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. Avanco Group
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Beijing Tianhai Industry
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. CIMC ENRIC
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Everest Kanto Cylinders
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Faber Industries
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. Hexagon Composites
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Luxfer Group
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. Quantum Technologies
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. Rama Cylinders
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
12.11. Worthington Industries
12.11.1. Company Overview
12.11.2. Financial Performance
12.11.3. Product Portfolio
12.11.4. Strategic Initiatives
12.12. Other Notable Players
12.12.1. Company Overview
12.12.2. Financial Performance
12.12.3. Product Portfolio
12.12.4. Strategic Initiatives
List of Figures
Figure 1. Global CNG Cylinders Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global CNG Cylinders Market: Quality Assurance
Figure 5 Global CNG Cylinders Market, By Type, 2021
Figure 6 Global CNG Cylinders Market, By Material, 2021
Figure 7 Global CNG Cylinders Market, By Application, 2021
Figure 8 Global CNG Cylinders Market, By Geography, 2021
Figure 9 Global CNG Cylinders Market, By Type, 2021 Vs 2030, %
Figure 10 Global CNG Cylinders Market, By Material, 2021 Vs 2030, %
Figure 11 Global CNG Cylinders Market, By Application, 2021 Vs 2030, %
Figure 12 U.S. CNG Cylinders Market (US Million), 2020 - 2030
Figure 13 Canada CNG Cylinders Market (US Million), 2020 - 2030
Figure 14 Rest of North America CNG Cylinders Market (US Million), 2020 - 2030
Figure 15 UK CNG Cylinders Market (US Million), 2020 - 2030
Figure 16 Germany CNG Cylinders Market (US Million), 2020 - 2030
Figure 17 Spain CNG Cylinders Market (US Million), 2020 - 2030
Figure 18 Italy CNG Cylinders Market (US Million), 2020 - 2030
Figure 19 France CNG Cylinders Market (US Million), 2020 - 2030
Figure 20 Rest of Europe CNG Cylinders Market (US Million), 2020 - 2030
Figure 21 China CNG Cylinders Market (US Million), 2020 - 2030
Figure 22 Japan CNG Cylinders Market (US Million), 2020 - 2030
Figure 23 India CNG Cylinders Market (US Million), 2020 - 2030
Figure 24 Australia CNG Cylinders Market (US Million), 2020 - 2030
Figure 25 South Korea CNG Cylinders Market (US Million), 2020 - 2030
Figure 26 Rest of Asia CNG Cylinders Market (US Million), 2020 - 2030
Figure 27 Brazil CNG Cylinders Market (US Million), 2020 - 2030
Figure 28 Mexico CNG Cylinders Market (US Million), 2020 - 2030
Figure 29 Rest of Latin America CNG Cylinders Market (US Million), 2020 - 2030
Figure 30 GCC CNG Cylinders Market (US Million), 2020 - 2030
Figure 31 Africa CNG Cylinders Market (US Million), 2020 - 2030
Figure 32 Rest of Middle East and Africa CNG Cylinders Market (US Million), 2020 - 2030
List of Tables
Table 1 Global CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 2 Global CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 3 Global CNG Cylinders Market By Application, 2020-2030, USD (Million)
Table 4 North America CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 5 North America CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 6 North America CNG Cylinders Market By Application, 2020-2030, USD (Million)
Table 7 UK and European Union CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 8 UK and European Union CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 9 UK and European Union CNG Cylinders Market By Application, 2020-2030, USD (Million)
Table 10 Asia Pacific CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 11 Asia Pacific CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 12 Asia Pacific CNG Cylinders Market By Application, 2020-2030, USD (Million)
Table 13 Latin America CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 14 Latin America CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 15 Latin America CNG Cylinders Market By Application, 2020-2030, USD (Million)
Table 16 Middle East and Africa CNG Cylinders Market By Type, 2020-2030, USD (Million)
Table 17 Middle East and Africa CNG Cylinders Market By Material, 2020-2030, USD (Million)
Table 18 Middle East and Africa CNG Cylinders Market By Application, 2020-2030, USD (Million)
Companies Mentioned
- Sinomatech
- Avanco Group
- Beijing Tianhai Industry
- CIMC ENRIC
- Everest Kanto Cylinders
- Faber Industries
- Hexagon Composites
- Luxfer Group
- Quantum Technologies
- Rama Cylinders
- Worthington Industries
