According to a market report by Lucintel, the future of the global composite cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries. The global composite cylinder market is expected to reach an estimated $1,507 million by 2030 from $1086 million in 2023 at a CAGR of 5% from 2023 to 2030. The major drivers for this market are increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder. Emerging trends which have a direct impact on the dynamics of the industry include the increase in green fleet and development of type V tanks.
Browse 107 figures/charts and 68
tables in this 205-page report to understand trends, opportunity and forecast in composite cylinder market to 2030 by end
use (gas carriers and storage, transportation, life support, recreation and
others), tank type (Type II, Type III, Type IV), composite consumption by fiber
type (glass fiber composites, carbon fiber composites and aramid fiber
composites), and region (North America, Europe, and the Rest of the World (ROW).
Lucintel
forecasts that the gas carriers & storage and transportation segments are
expected to show above average growth during the forecast period.
Within the
global composite cylinder market, the gas carriers & storage segment is
expected to remain both the largest and fastest market by value in forecast
period.
Europe is expected to remain the largest
market for composite cylinder due to the higher acceptance level and increasing
use of lightweight cylinders.
Download
sample by clicking on composite cylinder market
Luxfer Gas
Cylinder, Hexagon Composites ASA, Quantum Technologies, Worthington Cylinders,
Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and
Ullit are the major suppliers in the composite cylinder market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com To get
access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
Explore Our Latest Publications
No comments:
Post a Comment