Compressed Natural Gas Tank Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By DWT, By Applications, By Type, By fuel,, By Region & Competition, 2021-2031F

Description

The Global Compressed Natural Gas (CNG) Tank Market is projected to expand from a valuation of USD 998.99 Million in 2025 to USD 1517.09 Million by 2031, achieving a compound annual growth rate of 7.21%. This industry involves the manufacturing of high-pressure vessels, crafted from steel or composite materials, which are essential for storing natural gas in automotive applications safely. The market's upward trajectory is primarily driven by stringent environmental mandates designed to lower carbon emissions and the significant operational cost benefits of using natural gas over traditional liquid fossil fuels, with government subsidies for alternative energy further accelerating global adoption.

Market Overview
Forecast Period	2027-2031
Market Size 2025	USD 998.99 Million
Market Size 2031	USD 1517.09 Million
CAGR 2026-2031	7.21%
Fastest Growing Segment	Cargo
Largest Market	Asia Pacific

However, the scarcity of refueling infrastructure in numerous regions remains a formidable obstacle that limits widespread market penetration. This lack of filling stations causes range anxiety among consumers and restricts vehicle adoption to areas with established distribution networks. Despite these logistical challenges, certain markets continue to show robust demand due to the economic viability of the fuel. For instance, the Society of Indian Automobile Manufacturers reported that in the fiscal year ending March 2025, CNG models accounted for 19.5 percent of all passenger vehicle sales, illustrating the resilience of demand for these storage solutions even amidst infrastructural constraints.

Market Driver

The aggressive development of global CNG refueling networks is fundamentally transforming the market by mitigating the primary deterrent to adoption: range anxiety. As public and private sectors collaborate to increase station density, natural gas becomes a more practical mainstream fuel option, directly stimulating the need for onboard storage cylinders. This infrastructure growth is especially prominent in high-demand Asian regions where accessibility is vital for market continuity; for example, The Hans India reported in December 2025 that the Ministry of Petroleum and Natural Gas confirmed 8,083 operational CNG stations across India as of May 2025, ensuring reliable fuel access and stabilizing the growth outlook for tank manufacturers.

Simultaneously, the transition of public and commercial fleets toward natural gas is significantly boosting the demand for high-capacity composite tanks, driven by the desire to reduce total ownership costs and meet emission standards. Logistics companies and municipal agencies are actively replacing diesel units, creating a need for lightweight, durable fuel systems. Highlighting this trend, Hexagon Agility announced in September 2025 that it secured orders worth USD 4.2 million from over 10 major Class 8 fleets in North America. This commercial shift is mirrored in the mass market, where Maruti Suzuki reported sales of nearly 620,000 CNG passenger vehicles in FY2025 according to CarToq, reinforcing the massive scale of manufacturing required for smaller cylinders.

Market Challenge

The limited availability of refueling infrastructure serves as a critical barrier to the growth of the Global Compressed Natural Gas (CNG) Tank Market. The scarcity of filling stations instills significant range anxiety in both private consumers and fleet operators, who fear being stranded without fuel. Although natural gas offers favorable operational costs, the logistical challenge of locating stations often restricts the practical use of CNG vehicles to specific, well-serviced routes. Consequently, potential buyers frequently turn to conventional or electric vehicles that benefit from more reliable support networks, effectively suppressing the demand for new storage cylinders.

This infrastructural deficit has resulted in tangible contractions within key vehicle segments that utilize these systems. Data from the European Automobile Manufacturers' Association (ACEA) indicates that in 2024, registrations for trucks powered by alternative energy sources, including natural gas, fell by 27.2 percent in the European Union compared to the prior year. This sharp decline in vehicle uptake suggests that without a dense and accessible refueling grid, the market struggles to maintain its growth momentum, which negatively impacts the production and sales volumes of high-pressure CNG tanks.

Market Trends

The rise of virtual pipeline distribution networks is carving out a specific market niche for ultra-high-capacity gas transport modules. These systems are designed to deliver compressed natural gas to off-grid industrial sites and remote locations, driving the production of large-format Type IV composite containers that optimize payload capacity while minimizing transport weight. This application expands the utility of CNG technology beyond standard automotive fuel systems into the bulk energy logistics sector. For instance, Hexagon Composites announced in July 2024 that it received a contract valued at approximately USD 13 million to supply TITAN gas transport modules to a major U.S. industrial client, underscoring the increasing reliance on mobile infrastructure to address energy connectivity gaps.

In parallel, the development of Renewable Natural Gas (RNG) ecosystems is fueling the demand for specialized storage solutions capable of handling compressed biogas. As governments encourage the transition from fossil-based gas to sustainable bio-methane, the construction of production facilities necessitates robust stationary and cascade storage systems. This trend directly connects the tank market to broader decarbonization initiatives, diversifying demand. According to The Economic Times in October 2024, the Indian Biogas Association announced investment commitments of INR 1,600 crore for new biogas plants, creating a sustained requirement for high-pressure vessels to store and distribute the generated green fuel.

Key Market Players

National Iranian Gas Company
Indraprastha Gas Limited
ENGIE SA
Exxon Mobil Corporation.
BP p.l.c.
TotalEnergies
Chevron Corporation
Eni S.p.A.
ANGI Energy Systems, Inc.
TGT Fuel Technologies India Pvt. Ltd

Report Scope

In this report, the Global Compressed Natural Gas (CNG) Tank Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Compressed Natural Gas (CNG) Tank Market, By DWT

PSV below 3000 DWT
PSV above 3000 DWT

Compressed Natural Gas (CNG) Tank Market, By Applications

Oil and Gas Production
Offshore Construction
Military
Others

Compressed Natural Gas (CNG) Tank Market, By Type

Cargo
Support

Compressed Natural Gas (CNG) Tank Market, By fuel,

Diesel
LNG
Electric
Hybrid

Compressed Natural Gas (CNG) Tank Market, By Region

North America
- United States
- Canada
- Mexico
Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
South America
- Brazil
- Argentina
- Colombia
Middle East & Africa
- South Africa
- Saudi Arabia
- UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Compressed Natural Gas (CNG) Tank Market.

Available Customizations:

Global Compressed Natural Gas (CNG) Tank Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

1. Product Overview

1.1. Market Definition
1.2. Scope of the Market
- 1.2.1. Markets Covered
- 1.2.2. Years Considered for Study
- 1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Compressed Natural Gas (CNG) Tank Market Outlook

5.1. Market Size & Forecast
- 5.1.1. By Value
5.2. Market Share & Forecast
- 5.2.1. By DWT (PSV below 3000 DWT, PSV above 3000 DWT)
- 5.2.2. By Applications (Oil and Gas Production, Offshore Construction, Military, Others)
- 5.2.3. By Type (Cargo, Support)
- 5.2.4. By fuel, (Diesel, LNG, Electric, Hybrid)
- 5.2.5. By Region
- 5.2.6. By Company (2025)
5.3. Market Map

6. North America Compressed Natural Gas (CNG) Tank Market Outlook

6.1. Market Size & Forecast
- 6.1.1. By Value
6.2. Market Share & Forecast
- 6.2.1. By DWT
- 6.2.2. By Applications
- 6.2.3. By Type
- 6.2.4. By fuel,
- 6.2.5. By Country
6.3. North America: Country Analysis
- 6.3.1. United States Compressed Natural Gas (CNG) Tank Market Outlook
  - 6.3.1.1. Market Size & Forecast
    - 6.3.1.1.1. By Value
  - 6.3.1.2. Market Share & Forecast
    - 6.3.1.2.1. By DWT
    - 6.3.1.2.2. By Applications
    - 6.3.1.2.3. By Type
    - 6.3.1.2.4. By fuel,
- 6.3.2. Canada Compressed Natural Gas (CNG) Tank Market Outlook
  - 6.3.2.1. Market Size & Forecast
    - 6.3.2.1.1. By Value
  - 6.3.2.2. Market Share & Forecast
    - 6.3.2.2.1. By DWT
    - 6.3.2.2.2. By Applications
    - 6.3.2.2.3. By Type
    - 6.3.2.2.4. By fuel,
- 6.3.3. Mexico Compressed Natural Gas (CNG) Tank Market Outlook
  - 6.3.3.1. Market Size & Forecast
    - 6.3.3.1.1. By Value
  - 6.3.3.2. Market Share & Forecast
    - 6.3.3.2.1. By DWT
    - 6.3.3.2.2. By Applications
    - 6.3.3.2.3. By Type
    - 6.3.3.2.4. By fuel,

7. Europe Compressed Natural Gas (CNG) Tank Market Outlook

7.1. Market Size & Forecast
- 7.1.1. By Value
7.2. Market Share & Forecast
- 7.2.1. By DWT
- 7.2.2. By Applications
- 7.2.3. By Type
- 7.2.4. By fuel,
- 7.2.5. By Country
7.3. Europe: Country Analysis
- 7.3.1. Germany Compressed Natural Gas (CNG) Tank Market Outlook
  - 7.3.1.1. Market Size & Forecast
    - 7.3.1.1.1. By Value
  - 7.3.1.2. Market Share & Forecast
    - 7.3.1.2.1. By DWT
    - 7.3.1.2.2. By Applications
    - 7.3.1.2.3. By Type
    - 7.3.1.2.4. By fuel,
- 7.3.2. France Compressed Natural Gas (CNG) Tank Market Outlook
  - 7.3.2.1. Market Size & Forecast
    - 7.3.2.1.1. By Value
  - 7.3.2.2. Market Share & Forecast
    - 7.3.2.2.1. By DWT
    - 7.3.2.2.2. By Applications
    - 7.3.2.2.3. By Type
    - 7.3.2.2.4. By fuel,
- 7.3.3. United Kingdom Compressed Natural Gas (CNG) Tank Market Outlook
  - 7.3.3.1. Market Size & Forecast
    - 7.3.3.1.1. By Value
  - 7.3.3.2. Market Share & Forecast
    - 7.3.3.2.1. By DWT
    - 7.3.3.2.2. By Applications
    - 7.3.3.2.3. By Type
    - 7.3.3.2.4. By fuel,
- 7.3.4. Italy Compressed Natural Gas (CNG) Tank Market Outlook
  - 7.3.4.1. Market Size & Forecast
    - 7.3.4.1.1. By Value
  - 7.3.4.2. Market Share & Forecast
    - 7.3.4.2.1. By DWT
    - 7.3.4.2.2. By Applications
    - 7.3.4.2.3. By Type
    - 7.3.4.2.4. By fuel,
- 7.3.5. Spain Compressed Natural Gas (CNG) Tank Market Outlook
  - 7.3.5.1. Market Size & Forecast
    - 7.3.5.1.1. By Value
  - 7.3.5.2. Market Share & Forecast
    - 7.3.5.2.1. By DWT
    - 7.3.5.2.2. By Applications
    - 7.3.5.2.3. By Type
    - 7.3.5.2.4. By fuel,

8. Asia Pacific Compressed Natural Gas (CNG) Tank Market Outlook

8.1. Market Size & Forecast
- 8.1.1. By Value
8.2. Market Share & Forecast
- 8.2.1. By DWT
- 8.2.2. By Applications
- 8.2.3. By Type
- 8.2.4. By fuel,
- 8.2.5. By Country
8.3. Asia Pacific: Country Analysis
- 8.3.1. China Compressed Natural Gas (CNG) Tank Market Outlook
  - 8.3.1.1. Market Size & Forecast
    - 8.3.1.1.1. By Value
  - 8.3.1.2. Market Share & Forecast
    - 8.3.1.2.1. By DWT
    - 8.3.1.2.2. By Applications
    - 8.3.1.2.3. By Type
    - 8.3.1.2.4. By fuel,
- 8.3.2. India Compressed Natural Gas (CNG) Tank Market Outlook
  - 8.3.2.1. Market Size & Forecast
    - 8.3.2.1.1. By Value
  - 8.3.2.2. Market Share & Forecast
    - 8.3.2.2.1. By DWT
    - 8.3.2.2.2. By Applications
    - 8.3.2.2.3. By Type
    - 8.3.2.2.4. By fuel,
- 8.3.3. Japan Compressed Natural Gas (CNG) Tank Market Outlook
  - 8.3.3.1. Market Size & Forecast
    - 8.3.3.1.1. By Value
  - 8.3.3.2. Market Share & Forecast
    - 8.3.3.2.1. By DWT
    - 8.3.3.2.2. By Applications
    - 8.3.3.2.3. By Type
    - 8.3.3.2.4. By fuel,
- 8.3.4. South Korea Compressed Natural Gas (CNG) Tank Market Outlook
  - 8.3.4.1. Market Size & Forecast
    - 8.3.4.1.1. By Value
  - 8.3.4.2. Market Share & Forecast
    - 8.3.4.2.1. By DWT
    - 8.3.4.2.2. By Applications
    - 8.3.4.2.3. By Type
    - 8.3.4.2.4. By fuel,
- 8.3.5. Australia Compressed Natural Gas (CNG) Tank Market Outlook
  - 8.3.5.1. Market Size & Forecast
    - 8.3.5.1.1. By Value
  - 8.3.5.2. Market Share & Forecast
    - 8.3.5.2.1. By DWT
    - 8.3.5.2.2. By Applications
    - 8.3.5.2.3. By Type
    - 8.3.5.2.4. By fuel,

9. Middle East & Africa Compressed Natural Gas (CNG) Tank Market Outlook

9.1. Market Size & Forecast
- 9.1.1. By Value
9.2. Market Share & Forecast
- 9.2.1. By DWT
- 9.2.2. By Applications
- 9.2.3. By Type
- 9.2.4. By fuel,
- 9.2.5. By Country
9.3. Middle East & Africa: Country Analysis
- 9.3.1. Saudi Arabia Compressed Natural Gas (CNG) Tank Market Outlook
  - 9.3.1.1. Market Size & Forecast
    - 9.3.1.1.1. By Value
  - 9.3.1.2. Market Share & Forecast
    - 9.3.1.2.1. By DWT
    - 9.3.1.2.2. By Applications
    - 9.3.1.2.3. By Type
    - 9.3.1.2.4. By fuel,
- 9.3.2. UAE Compressed Natural Gas (CNG) Tank Market Outlook
  - 9.3.2.1. Market Size & Forecast
    - 9.3.2.1.1. By Value
  - 9.3.2.2. Market Share & Forecast
    - 9.3.2.2.1. By DWT
    - 9.3.2.2.2. By Applications
    - 9.3.2.2.3. By Type
    - 9.3.2.2.4. By fuel,
- 9.3.3. South Africa Compressed Natural Gas (CNG) Tank Market Outlook
  - 9.3.3.1. Market Size & Forecast
    - 9.3.3.1.1. By Value
  - 9.3.3.2. Market Share & Forecast
    - 9.3.3.2.1. By DWT
    - 9.3.3.2.2. By Applications
    - 9.3.3.2.3. By Type
    - 9.3.3.2.4. By fuel,

10. South America Compressed Natural Gas (CNG) Tank Market Outlook

10.1. Market Size & Forecast
- 10.1.1. By Value
10.2. Market Share & Forecast
- 10.2.1. By DWT
- 10.2.2. By Applications
- 10.2.3. By Type
- 10.2.4. By fuel,
- 10.2.5. By Country
10.3. South America: Country Analysis
- 10.3.1. Brazil Compressed Natural Gas (CNG) Tank Market Outlook
  - 10.3.1.1. Market Size & Forecast
    - 10.3.1.1.1. By Value
  - 10.3.1.2. Market Share & Forecast
    - 10.3.1.2.1. By DWT
    - 10.3.1.2.2. By Applications
    - 10.3.1.2.3. By Type
    - 10.3.1.2.4. By fuel,
- 10.3.2. Colombia Compressed Natural Gas (CNG) Tank Market Outlook
  - 10.3.2.1. Market Size & Forecast
    - 10.3.2.1.1. By Value
  - 10.3.2.2. Market Share & Forecast
    - 10.3.2.2.1. By DWT
    - 10.3.2.2.2. By Applications
    - 10.3.2.2.3. By Type
    - 10.3.2.2.4. By fuel,
- 10.3.3. Argentina Compressed Natural Gas (CNG) Tank Market Outlook
  - 10.3.3.1. Market Size & Forecast
    - 10.3.3.1.1. By Value
  - 10.3.3.2. Market Share & Forecast
    - 10.3.3.2.1. By DWT
    - 10.3.3.2.2. By Applications
    - 10.3.3.2.3. By Type
    - 10.3.3.2.4. By fuel,

11. Market Dynamics

11.1. Drivers
11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. Global Compressed Natural Gas (CNG) Tank Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. National Iranian Gas Company
- 15.1.1. Business Overview
- 15.1.2. Products & Services
- 15.1.3. Recent Developments
- 15.1.4. Key Personnel
- 15.1.5. SWOT Analysis
15.2. Indraprastha Gas Limited
15.3. ENGIE SA
15.4. Exxon Mobil Corporation.
15.5. BP p.l.c.
15.6. TotalEnergies
15.7. Chevron Corporation
15.8. Eni S.p.A.
15.9. ANGI Energy Systems, Inc.
15.10. TGT Fuel Technologies India Pvt. Ltd