According to a new market report published by
Lucintel, the future of the global composite cylinder market looks attractive
with opportunities in the gas carrier and storage, life support, and
transportation industries. The global composite cylinder market is forecast to
grow at a CAGR of 8.7% from 2015 to 2020. The major drivers of growth for this
market are increase in demand for natural gas vehicles and increasing demand
for lightweight cylinder with higher gas carrying capacity.
Composite cylinders are available mainly in
three types: Type-II, Type-III, and Type-IV. Type II cylinders are the
heaviest, whereas Type IV tanks are the lightest and most expensive. These
cylinders are used in various end use applications like transportation, gas
carrier & storage, life support, and recreation. On the basis of
comprehensive research Lucintel forecasts that gas carrier & storage, and
transportation industries are expected to show above average growth during the
forecast period. Lucintel forecast that, Type-IV cylinder is expected to show
the highest growth during forecast period.
In this market, carbon fiber, glass fibers,
and epoxy resin are the major raw materials used for manufacturing composite
cylinders. Lucintel predicts that the carbon fiber composites will continue to have the highest usage by
value in the composite cylinder during the forecast period.
North America is expected to be the largest
market due to the high acceptance level of composite cylinders and demand of
Type IV cylinders for bulk gas transportation.
North America and Rest of the world (including
Asia Pacific) region is expected to witness highest growth over the forecast
period because of increasing demand for natural gas vehicles and gas carrier
& storage system.
For
market expansion, this report suggests capacity expansion and new product
development to reduce weight and increase gas carrying capacity per cylinder. Emerging
trends in the global composite cylinder, which have a direct impact on the
dynamics of the industry, include development of Type-V tanks and increasing
demand for lightweight cylinders.
Hexagon Composites, Luxfer
Gas Cylinders, BTIC, Faber Industrie, and Worthington are among the major
suppliers of the composite cylinders.
Lucintel, a leading global strategic
consulting and market research firm,
has analyzed the global composite
cylinder market by application, cylinder type, fiber type,
and region, and has come up with a comprehensive research report, “Global Opportunities
in the Global Composite Cylinder Market 2015-2020: Trends, Forecast and
Opportunity Analysis.” The
Lucintel report serves as a springboard for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast of the global composite cylinder market through 2020,
segmented by end-use industry, cylinder type, fiber type, and region as
follows:
By end use industry [unit (thousand units) and
$M value analysis for 2009 – 2020]:
·
Gas Carrier and Storage
·
Transportation
·
Life Support
·
Recreational and Others
By cylinder type [unit (thousand units) and $M
value analysis for 2009 – 2020]:
·
Type II
·
Type III
·
Type IV
·
North America
·
Europe
·
Rest of the World (including Asia Pacific)
By fiber type [volume (M lbs) and $M value
analysis for 2009 – 2020]:
·
Carbon Fiber Composite
·
Aramid Fiber Composite
This 163-page 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 click
on this link http://www.lucintel.com/reports/chemical_composites/growth_opportunities_in_the_global_composite_cylinder_market_2015_2020_trends_forecast_and_opportunity_analysis_october_2015.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management
consulting and market research firm, creates winning strategy for growth. It
offers market assessments, competitive analysis, opportunity analysis, growth consulting, M & A and due diligence services to executives and key decision-makers in a
variety of industries. For further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q. 1.How big the opportunities for global composite
cylinders market by end use application, cylinder type, fiber type, and region?
Q. 2.Which segments will grow at a faster pace
and why?
Q. 3.Which region will grow at a faster pace
and why?
Q.4.What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5.What are the business risks and threats of
this market?
Q.6.What are emerging trends in this market
and reasons behind it?
Q.7.What are some changing demands of
customers in the market?
Q.8.What are the new developments in the
market? Which companies are leading these developments?
Q.9.Who are the major players in this market?
What strategic initiatives are taken by key players for business growth?
Q.10.How is the competitive rivalry and threat
of substitution in this market?
Q. 11.How many M & A activities happened
during last 1- 2 years and what are their impacts?
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