PUBLISHER: Allied Market Research | PRODUCT CODE: 1179702
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179702
Compressed natural gas (CNG) is a mixture of methane and trace quantities of light hydrocarbons, nitrogen, and CO2, which are generated during geological transformation from peat to anthracite coal. It is used as a fuel in vehicles. It is most commonly stored on board vehicles in high pressure tanks, which are usually referred as CNG tanks.
The global automotive industry has experienced tremendous transformation in past few years. The ever-growing demand for passenger safety has made vehicle manufacturers to focus incessantly on forming new design experiences by enabling efficient incorporation of new technologies and processes. Owing to this, the demand for composite cylinders is growing at a faster pace due to the various properties of its materials such as lighter weight, improved safety, and superior corrosion resistance. The rapid surge in the application of natural gas powered vehicles and rise in demand for lightweight storage solutions are positive factors that foster the growth of CNG tanks market.
The CNG tanks market is segmented on the basis of raw material, propulsion, vehicle type, type, and region. By raw material, it is divided into glass fiber composites raw materials, carbon fiber composites raw materials, and others. By propulsion, it is bifurcated into petrol and diesel. By vehicle type, it is fragmented into passenger cars, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). By type, it is classified into P Type 1 CNG Tanks, Type 2 CNG Tanks, Type 3 CNG Tanks, and Type 4 CNG Tanks. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights key areas of investments. In addition, it includes Porter's five forces analysis to understand competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights competitive landscape of key players to increase their market share and sustain intense competition in the industry.
Key players that operate in this market include Anhui Clean Energy Co., Ltd., Avanco GmbH, Beijing Tianhai Industry Co., Ltd., Everest Kanto Cylinders Limited, Faber Industrie S.P.A, FIBA Technologies, Inc., Hexagon Composites ASA, Indoruss Synergy Pvt. Ltd., Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Luxfer Holdings PLC, Maruti Koatsu Cylinders Ltd., NGV Technologies Inc., Plastic Omnium, Praxair Technology, Inc., Quantum Fuel Systems LLC, ULLIT, and Worthington Industries Inc
Key Benefits For Stakeholders
By Raw Material
By Propulsion
By Vehicle Type
By Type
By Region