Press release
Global CNG Tank (CNG Cylinder) Market Expected to Witness a Sustainable Growth over 2023
CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.
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Global CNG Tank (CNG Cylinder) Market: Forecast by Type / Application / Region
CNG Tank/Cylinder is made using the cylinder shape with a semi-spherical shape covering each end. The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.
The CNG Tank/Cylinder industry is not highly concentrated, there are more than one hundred manufacturers in the world, and high-end products mainly come from North America and Western Europe. Limited refueling infrastructures, and higher prices of composite cylinders, are some of the factors that hinder the growth of the CNG tanks/cylinders. Rising price of raw materials such as metals, glass fiber, carbon fiber, and other components used in manufacturing of CNG tanks/cylinders are the few challenges inhibiting the growth of the CNG tanks/cylinders market.
In the world wide, major manufactures mainly are Sinomatech, Everest Kanto Cylinders, Worthington Industries, Luxfer Group, Hexagon Composites, Beijing Tianhai Industry, Rama Cylinders, Quantum Technologies, Faber Industrie, CIMC ENRIC, Avanco Group and etc.
Over the next five years, LPI(LP Information) projects that CNG Tank (CNG Cylinder) will register a 5.0% CAGR in terms of revenue, reach US$ 970 million by 2023, from US$ 730 million in 2017.
Global CNG Tank (CNG Cylinder) Market: Key Players
Sinomatech
Everest Kanto Cylinders
Worthington Industries
Luxfer Group
Hexagon Composites
Beijing Tianhai Industry
Rama Cylinders
Quantum Technologies
Faber Industrie
Praxair Technologies
CIMC ENRIC
Lianzhong Composites
Avanco Group
Ullit
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Related Information:
United States CNG Tank (CNG Cylinder) Market Research Report 2018
Europe CNG Tank (CNG Cylinder) Market Research Report 2018
North America CNG Tank (CNG Cylinder) Market Research Report 2018
Asia-Pacific CNG Tank (CNG Cylinder) Market Research Report 2018
China CNG Tank (CNG Cylinder) Market Research Report 2018
EMEA CNG Tank (CNG Cylinder) Market Research Report 2018
Global CNG Tank (CNG Cylinder) Market Research Report 2018
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