Global CNG Tank Market Report 2017: Expected to Reach an Estimated $1.3 Billion by 2022

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18 Jul, 2017, 14:00 GMT

DUBLIN, July 18, 2017 /PRNewswire/ --

The "Growth Opportunities in the Global CNG Tank Market" report has been added to Research and Markets' offering.

The global CNG tank market is expected to reach an estimated $1.3 billion by 2022 and grow at a CAGR of 5.1% from 2017 to 2022. The global CNG tank market looks attractive with opportunities in automotive and bulk transportation applications. The major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.

On the basis of comprehensive research, the report forecasts that the bulk transportation segment will show above average growth during the forecast period. Within the global CNG tank market, the automotive segment is expected to remain the largest market by value and volume. Expected growth in the fleet of alternative fuel powered vehicles is the major driving factor that is likely to spur growth for this segment over the forecast period.

By type of tank, type I CNG tank is expected to be the largest segment due to its lower cost and higher demand from countries in the APAC and ROW regions which have large NGV fleet.

APAC is expected to remain the largest region over the forecast period. This region is expected to witness the highest growth for CNG tanks due to the growing fleet of alternative fuel powered vehicles, as well as increasing number of CNG refueling stations.

Companies Mentioned

  • Beijing Tianhai Industry Co. Ltd
  • CIMC Enric Holdings Limited
  • Everest Kanto Cylinder Ltd
  • FIBA Technologies Inc.
  • Faber Industrie  S. p. A.
  • Faber Industrie S. p. A.
  • Hexagon Composites ASA
  • Luxfer Gas Cylinder
  • Quantum Fuel System Technologies
  • Sinoma Science & Technology(SuZhou) co. Ltd
  • Worthington Cylinders GmbH
  • Zhongyou Tongyong Luxi Natural Gas Equipment Co., Ltd

Key Topics Covered:

1. Executive Summary

2. Market Background and Classifications

3. Market Trends and Forecast Analysis from 2011 to 2022

4. Market Trends and Forecast Analysis by Region

5. Competitor Analysis

6. Growth Opportunities and Strategic Analysis

7. Company Profiles of Leading Players

For more information about this report visit https://www.researchandmarkets.com/research/ht7zvq/growth

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