Global CNG, RNG, And Hydrogen Tanks Market Size By Gas Type (Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG)), By Material Type (Metal, Carbon Fiber, Glass Fibe), By Geographic Scope And Forecast

CNG, RNG, And Hydrogen Tanks Market Size And Forecast

CNG, RNG, And Hydrogen Tanks Market size was valued at USD 3.59 Billion in 2024 and is projected to reach USD 7.56 Billion by 2032, growing at a CAGR of 13.3 % during the forecast period 2026-2032.

CNG tanks are widely adopted in light-duty vehicles by several automotive manufacturers globally as they are economical in the long run and emit less greenhouse gases as compared to petrol or diesel. Also, the CNG infrastructure for refueling vehicles is well-developed in many countries. These factors coupled with government initiatives for adopting clean fuel are also driving the CNG tanks market. The Global CNG, RNG, And Hydrogen Tanks Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global CNG, RNG, And Hydrogen Tanks Market Definition

CNG tanks are widely adopted in light-duty vehicles by several automotive manufacturers globally as they are economical in the long run and emit less greenhouse gases as compared to petrol or diesel. Also, the CNG infrastructure for refueling vehicles is well-developed in many countries. These factors coupled with government initiatives for adopting clean fuel are also driving the CNG tanks market. COVID-19 has negatively affected the demand for CNG, RNG, and hydrogen tanks across the globe due to a decrease in natural gas and fuel-cell electric vehicles. The natural fuel demand will rise in the first quarter of 2021, thereby triggering the demand for CNG, RNG, and hydrogen tanks.

Global CNG, RNG, And Hydrogen Tanks Market Overview

The fuel tank applications of CNG, RNG, and hydrogen tanks dominate the overall market. The increasing demand for low-maintenance & clean fuel is driving the growth of CNG, RNG, and hydrogen tanks in the automotive industry. The fuel tank application is also expected to register higher growth during the forecast period due to the rising number of CNG, RNG, and hydrogen-powered vehicles, globally. There is a high demand for CNG tanks in countries such as China, India, Pakistan, and Thailand due to well-developed CNG infrastructure and the rising adoption of CNG vehicles.

Whereas countries such as Japan and South Korea are more focused on developing markets for hydrogen-powered vehicles. The government of these countries has adopted a road map to building themselves as a hydrogen economy, which is expected to drive the hydrogen tank market. CNG tanks are widely adopted in light-duty vehicles by several automotive manufacturers globally as they are economical in the long run and emit less greenhouse gases as compared to petrol or diesel.

Also, the CNG infrastructure for refueling vehicles is well-developed in many countries. These factors coupled with government initiatives for adopting clean fuel are also driving the CNG tanks market. However, due to the pandemic COVID-19, the sales of CNG vehicles, hybrid CNGs, and retrofitted CNG vehicles decreased leading to reduced demand for CNG tanks. This demand would surge with recovery in the automotive sector & rise in sales of all types of CNG vehicles.

Global CNG, RNG, And Hydrogen Tanks Market Segmentation Analysis

The Global CNG, RNG, And Hydrogen Tanks Market is segmented on the basis of Gas Type, Material Type, And Geography.

CNG, RNG, And Hydrogen Tanks Market, By Gas Type

• Compressed Natural Gas (CNG)
• Hydrogen
• Renewable Natural Gas (RNG)
• Based on Gas Type, the market is bifurcated into Compressed Natural Gas (CNG), Hydrogen, and

CNG, RNG, And Hydrogen Tanks Market, By Material Type

• Metal
• Carbon Fiber
• Glass Fiber

Based on Material Type, the market is bifurcated into Metal, Carbon Fiber, and Glass Fiber.

CNG, RNG, And Hydrogen Tanks Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world
• CNG, RNG, And Hydrogen Tanks Market By Geography

Based on Regional Analysis, the Global CNG, RNG, And Hydrogen Tanks Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to hold the largest market share in the forecast period. The attendance of significant players such as Hexagon Composites ASA (Norway) and Quantum Fuel Systems LLC. (US) will boost the market growth with the help of incorporating technological advancements in the product portfolio. Increased disbursements of enterprises in Research and Development would expand the market growth across the region.

Key Players

The "Global CNG, RNG, And Hydrogen Tanks Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Worthington Industries, Inc. (US), Luxfer Group (UK), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC. (US), Everest Kanto Cylinders Ltd. (India), Praxair Technologies Inc. (US), Avanco Group (Germany), Xinyi Beijing Tianhai Industry Co. Ltd. (China), Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd. (China), Faber Industrie SpA (Italy).