According to a market report by Lucintel, the future of global composites cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries. The global composites cylinder market is expected to reach an estimated $1,507 million by 2030 with a CAGR of 5% from 2023 to 2030. The major drivers for market growth 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 trends which have a direct impact on the dynamics of the industry include the increase in green fleet and development of type V tanks.
A more than 150-page report to understand trends, opportunity and forecast in composite cylinder market to 2030 by end use (gas carriers and storage, transportation, life support, and recreation & others), tank type (Type II, Type III, and Type IV), composite consumption by fiber type (glass fiber composites, carbon fiber composites and aramid fiber composites), and region (North America, Europe, and the Rest of the World (ROW).
Lucintel forecasts that the gas carriers & storage is expected to remain the largest market by value and also expected to grow with the highest CAGR during the forecast period.
Within the global composite cylinder market, the carbon fiber composites segment is expected to remain the largest market by value.
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Europe is expected to remain the largest market for composite cylinder due to the higher acceptance level and increasing use of lightweight cylinders.
Hexagon Composites, Luxfer Gas Cylinders, BTIC, Worthington Cylinders, and Faber Industries are the major suppliers in the composite cylinder market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] to get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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