According to a market report by Lucintel, the future of global composites cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries. The global composites cylinder market is expected to reach an estimated $1,507 million by 2030 with a CAGR of 5% from 2023 to 2030. The major drivers for market growth 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.
A more
than 150-page report to understand trends, opportunity and forecast in global composite
cylinder market to 2030 by end use (gas carriers and storage, transportation,
life support, and recreation & others), tank type (Type II, Type III, and
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 is expected to remain the largest
market by value and also expected to grow with the highest CAGR during the
forecast period.
Within the
global composite cylinder market, the carbon fiber composites segment is
expected to remain the largest market by value.
Download
sample by clicking on composite
cylinder market.
Europe is
expected to remain the largest market for composite cylinder due to the higher
acceptance level and increasing use of lightweight cylinders.
Hexagon
Composites, Luxfer Gas Cylinders, BTIC, Worthington Cylinders, and Faber
Industries 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
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