PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1890746
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1890746
The global composite cylinder market is witnessing strong growth as industries increasingly shift toward lightweight, durable, and technologically advanced materials for gas storage. In 2024, the market was valued at USD 1.31 billion, driven by rising adoption across transportation, aerospace & defense, healthcare, and industrial sectors. In 2025, the market is projected to reach USD 1.38 billion, supported by technological innovations, growing preference for high-pressure gas storage, and increasing demand for clean energy solutions. By 2032, the composite cylinder market is expected to reach USD 2.03 billion, reflecting expanding applications and strong investment activity in advanced material technologies.
Composite cylinders contain multiple layers of fiber-reinforced materials combined with resin, enabling superior strength, reduced weight, and excellent corrosion resistance compared to traditional metal cylinders. Their adoption is accelerating due to global sustainability goals, stringent safety standards, and the growing need for lightweight high-pressure storage solutions in emerging hydrogen and CNG mobility markets.
Market Drivers
Increasing Preference for Lightweight, High-Performance Cylinders
Composite cylinders offer several advantages over conventional metal cylinders-including low weight, high thermal stability, excellent chemical resistance, and superior dimensional integrity. These features are especially beneficial in aerospace & defense, transportation, and medical applications. With Type II and Type III cylinders gaining traction, demand continues to rise as industries seek to maximize fuel efficiency, reduce operational weight, and improve safety.
A notable development includes Hexagon Purus securing a major aerospace contract for the production of high-performance Type IV composite pressure vessels for launch vehicles, highlighting the growing adoption of composite materials in space and aviation applications.
Technological Advancements Supporting Market Growth
Technological innovation plays a pivotal role in expanding the composite cylinder market. Digital and IoT-enabled cylinders are emerging as a significant trend. For example, in April 2024, Hexagon Ragasco and Linde introduced the Linktra Smart Cylinder in Norway, integrating IoT technology to provide real-time gas level alerts, improve logistics, and enhance user convenience. Such advancements are driving broader acceptance across consumer and industrial markets.
Market Restraints
High Comparative Costs to Metal Cylinders
The manufacturing process for composite cylinders is complex and requires advanced materials, making them significantly more expensive than traditional metal cylinders. In many developing countries, the cost of composite cylinders can be up to twice as high as metal ones, limiting adoption. Additionally, infrastructure compatibility and regulatory approvals can slow market penetration in cost-sensitive regions.
Market Opportunities
Rising Demand from the Automotive and Clean Energy Sectors
Composite cylinders play a critical role in reducing vehicle weight and improving fuel efficiency. With rising global focus on sustainable mobility, demand for lightweight Type IV cylinders in CNG, RNG, and hydrogen vehicles continues to expand. Investment activity is increasing as governments encourage clean fuel adoption and infrastructure development. This shift is expected to create long-term opportunities for both established and emerging market players.
Market Challenges
Limited Awareness in Emerging Economies
In many developing regions, awareness of composite cylinders remains low, and users continue to rely on conventional metal cylinders. Established metal cylinder manufacturers benefit from economies of scale, creating competitive barriers for new composite cylinder suppliers.
North America - Market Leader in 2024
North America dominated the market in 2024 with a valuation of USD 0.57 billion, driven by advanced manufacturing capabilities, growing adoption of CNG/RNG vehicles, and rising demand in aerospace and defense. The U.S. is projected to reach USD 0.52 billion in 2025, supported by regulatory push toward carbon reduction and increased aerospace usage.
Europe - Second Largest Market
Europe is anticipated to reach USD 0.38 billion in 2025, driven by strong adoption of composite cylinders in transportation and clean-energy applications. Growing CNG vehicle utilization across urban areas continues to support demand.
Asia Pacific - High Growth Potential
Asia Pacific is projected to reach USD 0.25 billion in 2025, supported by rising CNG car usage, expanding healthcare infrastructure, and growing investments in hydrogen mobility. China is expected to reach USD 0.09 billion in 2025.
Competitive Landscape
Key players include Hexagon Group, Time Technoplast, Amtrol Alfa, Dragerwerk, Luxfer Gas Cylinders, Faber Industries, Quantum Fuel Systems, BTIC America Corp, and Aburi Composite. Companies are focusing on high-pressure storage solutions, Type III and Type IV cylinders, and hydrogen-ready technologies to meet evolving industry needs.
Conclusion
The composite cylinder market is set for steady expansion, rising from USD 1.31 billion in 2024 to USD 1.38 billion in 2025, and projected to reach USD 2.03 billion by 2032. With growing emphasis on clean energy, lightweight materials, and advanced gas storage solutions, composite cylinders are poised to play a central role in the global transition toward sustainable industrial and mobility systems.
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