The global composite cylinder market is projected to reach $0.8 billion by 2025, at a CAGR of 0.7% during 2020-2025. The growth of global composite cylinder market is driven by increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the global composite cylinder
market by end use industry (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)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the global composite cylinder market?
Q.4 What are some
changing demands of customers in the global composite cylinder market?
Q.5 What are the new
developments in the global composite cylinder market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this global composite cylinder area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this global composite cylinder market?
Emerging trends, which
have a direct impact on the dynamics of the industry, include increase in green
fleet and development of type V tanks.
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Market Segmentation:
Based on tank type, the
global composite cylinder market is segmented into type II, type III, type IV. The
type III segment is accounted for the largest share of the market in 2020.
Europe is expected to be
the largest region during the forecast period due to the higher acceptance level and
increasing use of lightweight cylinders.
Key Players in the global
composite cylinder market are Luxfer Gas Cylinder, Hexagon Composites ASA,
Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries
S.p.A., Beijing Tianhai Industry Co., and Ullit.
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The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
To read more about this market please click on
https://www.lucintel.com/growth-opportunities-in-the-global-composite-cylinder.aspx
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies 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.
Brandon
Fitzgerald
Lucintel
Dallas,
Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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