Market Research Report
Composites Cylinder Market Report: Trends, Forecast and Competitive Analysis
|Published by||Lucintel||Product code||819880|
|Published||Content info||139 Pages
Delivery time: 1-2 business days
|Composites Cylinder Market Report: Trends, Forecast and Competitive Analysis|
|Published: March 1, 2019||Content info: 139 Pages||
The future of the composites cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries.The composites cylinder market is expected to grow with a CAGR of 5.5% from 2019 to 2024. The major drivers for this market are increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder.
Emerging trend, which have direct impact on the dynamics of the composites cylinder industry, include development of type V tank, and increase in green fleet.
A total of 61 figures / charts and 51 tables are provided in this 139 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this composites cylinder market report download the report brochure.
The study includes the composites cylinder market size and forecast for the composites cylinder market through 2024, segmented by end use industry, tank type, composite demand by fiber type, and region as follows:
Some of the composites cylinder companies profiled in this report include Hexagon Composites, Luxfer Gas Cylinder, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit and others.
Lucintel forecasts that type III cylinders will remain the largest segment by value and Type IV by volume. The type IV cylinder segment is expected to witness the highest growth over the forecast period due to the growing demand for lightweight cylinders.
Within composites cylinder market, transportation will remain the largest end use industry by value and gas carrier & storage by volume. Transportation segment is also expected to witness highest growth over the forecast period due to the expected growth in the demand for bulk transportation cylinders and unavailability of proper gas pipeline infrastructure.
North America is expected to remain the largest market for composites cylinder due to the higher acceptance level and increasing use of lightweight cylinders. North America is also expected to witness the highest growth rate during the forecast period due to the anticipated growth in the production of alternative fuel powered vehicles, and growing use of mobile pipelines for transportation of gas.
Figure 3.8: Trends of the Global Composite Cylinder Market ($M) by End Use Industry (2013-2018)
Figure 3.25: Trends of the Composite Consumption in the Global Composite Cylinder Market (M lbs) by Fiber Type (2013-2018)