The future of the 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 $981 million by 2024 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.
composites cylinder by end use industry
composites cylinder market
composites cylinder manufacturers
The study includes the composites cylinder market size and forecast for the global composites cylinder market through 2024, segmented by end use industry, tank type, composite demand by fiber type, and region as follows:
Composites Cylinder Market by End Use Industry [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
Gas Carriers and Storage Transportation Life Support Recreation and Others
Composites Cylinder Market by Tank Type [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
Type II Type III Type IV
Composites Cylinder Market by Region [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
North America Europe Rest of the World
Composite by Fiber Type [Volume (Million lbs.) and Value ($ Million) from 2013 to 2024]:
Glass Fiber Composites Carbon Fiber Composites Aramid Fiber Composites
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.
Some of the features of “Composites Cylinder Market Report: Trends, Forecast and Competitive Analysis” include:
Market size estimates: Global composites cylinder market size estimation in terms of value ($M) and volume (Thousand Units) shipment.Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by application, and end use industry.Segmentation analysis: Global composites cylinder market size by various applications such as end use industry, tank type, and composite demand by fiber type in terms of value and volume shipment.Regional analysis: Global composites cylinder market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.Growth opportunities: Analysis on growth opportunities in different applications and regions of composites cylinder in the global composites cylinder market.Strategic analysis: This includes M&A, new product development, and competitive landscape of composites cylinder in the global composites cylinder market. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global composites cylinder market by end use industry (gas carriers and storage, transportation, life support, recreation and others), tank type (Type I, Type II, Type III) composites demand by fiber (carbon composites, glass composites, aramid composites), and region (North America, Europe, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this composites cylinder market?
Q.5. What are the business risks and competitive threats in this composites cylinder market?
Q.6. What are the emerging trends in this composites cylinder market and reasons behind them?
Q.7. What are some of the changing demands of customers in the composites cylinder market?
Q.8. What are the new developments in the composites cylinder market and which companies are leading these developments?
Q.9. Who are the major players in this composites cylinder market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this composites cylinder market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last 5 years in the composites cylinder market?