CNG Tank Market | Global Industry Trends, Segmentation, Business Opportunities

The global CNG Tank Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2022-2028. Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cng tank market include ASA (Norway), Luxfer Group (the U.K), Everest Kanto Cylinders Ltd. (India), Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd (China), Worthington Industries (the U.S.), Quantum Fuel Systems Technologies Worldwide Inc. (the U.S.) and others. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

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Market Dynamics

Compressed natural gas (CNG) is becoming a viable choice for the automotive sector due to rising gasoline and diesel fuel prices, decreasing natural gas costs, increasing environmental concerns, and growing Asia-Pacific demand. Consequently, with the increased demand for CNG, the market for CNG tanks is also increasing. The global CNG tanks/cylinders market has proliferated in recent years and is likely to continue. This growth can be ascribed to rising demand for natural gas vehicles, increased natural gas production and exploration, and the development of composite CNG tanks and cylinders. The limited availability of refuelling infrastructure, rising raw material prices, and the high price of composite tanks are the primary hurdles in the CNG tanks market.

The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of cng tank. The growth and trends of cng tank industry provide a holistic approach to this study.

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Market Segmentation

This section of the cng tank market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Raw Material

  • Metals
  • Glass Fiber
  • Carbon Fiber

By Type

  • Type-1
  • Type-2
  • Type-3
  • Type-4

By Vehicle Type

  • Light Duty Vehicles (LDVS)
  • Medium Duty Vehicles (MDVS)
  • Heavy Duty Vehicles (HDVS)

Regional Analysis

This section covers the regional outlook, which accentuates current and future demand for the CNG Tank market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

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