According to a market report by Lucintel, the future of the global high-pressure gas cylinder market looks promising with opportunities in the transportation, industrial gas and storage, and life support industries. The global high-pressure gas cylinder market is expected to reach an estimated $3 billion by 2030 from $2 billion in 2023 at a CAGR of 5% from 2023 to 2030. The major drivers for this market are increasing demand for CNG vehicles and growing usage of high-pressure cylinders in the medical and fire protection industries.
Browse 89 figures/charts
and 76 tables in this 181-page report
to understand trends, opportunity and
forecast in global high-pressure gas cylinder market to 2030 by material (steel, composites,
and aluminum), end use industry (transportation, industrial gas and storage,
and life support and others), tank type (Type I, Type II, Type III, and Type
IV), and region (North America, Europe, Asia Pacific, and Rest of the World).
Lucintel
forecasts that steel based high-pressure cylinders will remain the largest
material market due to their low cost. The composites high-pressure cylinder
segment is expected to witness the highest growth due to increase in natural
gas vehicles and growth of CNG gas in transportation market, such as
transportation, recreational, and healthcare industries.
Within the
high-pressure gas cylinder market, transportation is projected to remain the
largest end use industry, and it is also expected to witness the highest
growth. Increasing number of natural gas vehicles (NGVs) and lower cost of
natural gas which creates demand for CNG cylinder are driving the demand for
the high-pressure gas cylinder market.
Download
sample by clicking on high-pressure
gas cylinder market.
Asia
Pacific is expected to remain the largest region, and it is also expected to
witness the highest growth over the forecast period due to increasing demand
for industrial gases and CNG vehicles
Luxfer Gas
Cylinders, Fabar Industries S.P.A, Worthington Industries, BTIC, Hexagon
Composites are the major suppliers in the high-pressure gas 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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