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CNG Tank Market Trends and Forecast
The future of the CNG tank market looks promising with opportunities in the automotive and bulk transportation end use. The global CNG tank market is expected to reach an estimated $1.6 billion by 2027 with a CAGR of 7.0% from 2021 to 2027.  The major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.

 CNG Tank Market by End Use Industry, Tank Type, and Material Consumption

Emerging Trends in the CNG Tank Market
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 total of 94 figures / charts and 68 tables are provided in this 162-page report to help in your business decisions. A sample figure with insights is shown below. To learn the scope of benefits, companies researched, and other details of the CNG tank market report, please download the report brochure.

CNG Tank Market by Segments

CNG Tank Market by Segment
The study includes trend and forecast for the global CNG tank market by end use industry, tank type, material consumption, and region as follows:
CNG Tank Market by End Use [Value ($B) and Volume (‘000 units) shipment analysis for 2016 – 2027]:

  • Automotive
    • Automotive CNG Tank Market by Vehicle Type
    • Automotive CNG Tank Market by Tank Type
  • Bulk Transportation
    • Bulk Transportation CNG Tank Market by Tank Type

CNG Tank Market by Tank Type [Value ($B) and Volume (‘000 units) shipment analysis for 2016 – 2027]:

  • Type-I
  • Type-II
  • Type-III
  • Type-IV

CNG Tank Market by Material Consumption [Value ($B) and Volume (‘000 units) shipment analysis for 2016 – 2027]:

CNG Tank Market by Region [Value ($B) and Volume (‘000 units) shipment analysis for 2016 – 2027]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of CNG Tank Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies CNG tank companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the CNG tank companies profiled in this report includes.

CNG Tank Market Insight

  • Lucintel forecasts that automotive will remain the largest end use industry and it is also expected to witness the highest growth over the forecast period due to growth in the fleet of alternative fuel powered vehicles.
  • Type I, CNG tank will remain the largest segment over the forecast period 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 for CNG tanks due to the growing fleet of alternative fuel powered vehicles, as well as increasing number of CNG refueling stations.

Features of CNG Tank Market

  • Market Size Estimates: CNG tank market size estimation in terms of value ($B) and Volume (‘000 units)
  • Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
  • Segmentation Analysis: Market size by application, tank type, material consumption and region
  • Regional Analysis: CNG tank market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different application, tank type, material consumption and regions for the CNG tank market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the CNG tank market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ
Q1. What is the CNG tank market size?
Answer: The global CNG tank market is expected to reach an estimated $1.6 billion by 2027       
Q2. What is the growth forecast for CNG tank market?
Answer: The CNG tank market is expected to grow at a CAGR of 7.0% from 2021 to 2027.          
Q3. What are the major drivers influencing the growth of the CNG tank market?
Answer: The major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.
Q4. What are the major applications or end use industries for CNG tank?
Answer: Automotive and bulk transportation are the major application for CNG tank.          
Q5. What are the emerging trends in CNG tank market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, the increase in green fleet and development of type V tanks.
Q6. Who are the key CNG tank companies?
Answer: Some of the key CNG tank companies are as follows:

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

Q7. Which CNG tank product segment will be the largest in future?
Answer: Lucintel forecasts that type I CNG tank will remain the largest segment over the forecast period due to its lower cost and higher demand from countries in the APAC and ROW regions which have large NGV fleet.
Q8. In CNG tank market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region over next 5 years      
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 
This report answers following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global CNG tank market by application (automotive and bulk transportation), tank type (Type I, Type II, Type III, Type IV), material consumption (metal, glass fiber composites, and carbon fiber composites ), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

 

Table of Contents
 
 
1. Executive Summary

2. Global CNG Tank Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2016 to 2027
3.1: Macroeconomic Trends and Forecasts
3.2: Global CNG Tank Market Trends and Forecast
3.3: Global CNG Tank Market by End Use
3.3.1:  Automotive CNG Tank Market             
3.3.1.1: By Tank Type          
3.3.1.2: By Vehicle Type     
3.3.2: Bulk Transportation CNG Tank Market       
3.3.2.1: By Tank Type
3.4: Global CNG Tank Market by Tank Type        
3.4.1: Type I Tanks
3.4.2: Type II Tanks
3.4.3: Type III Tanks
3.4.4: Type IV Tanks
3.5: Global CNG Tank Type by Material Consumption    
3.5.1: Glass Fiber Composites
3.5.2: Carbon Fiber Composite
3.5.3: Metal Material

4. Market Trends and Forecast Analysis by Region
4.1: Global CNG Tank Market by Region
4.2: North American CNG Tank Market
4.3: European CNG Tank Market
4.4: APAC CNG Tank Market
4.5: ROW CNG Tank Market

5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Market Share Analysis
5.3: Operational Integration
5.4: Geographical Reach
5.5: Porter’s Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global CNG Tank Market by Application
6.1.2: Growth Opportunities for the Global CNG Tank Market by Tank Type
6.1.3: Growth Opportunities for the Global CNG Tank Market by Material Consumption
6.1.4: Growth Opportunities for the Global CNG Tank Market by Region
6.2: Emerging Trends in the Global CNG Tank Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansions
6.3.3: Mergers and Acquisitions

7. Company Profiles of Leading Players
 
7.1: Faber Industries S. p. A.          
7.2: Hexagon Composites ASA     
7.3: Luxfer Gas Cylinder      
7.4: Beijing Tianhai Industry Co. Ltd          
7.5: Worthington Cylinders GmbH 
7.6: Quantum Fuel System Technologies 
7.7: Everest Kanto Cylinder Ltd     
7.8: Zhongyou Tongyong Luxi Natural Gas Equipment Co., Ltd 
7.9: FIBA Technologies Inc.
7.10: CIMC Enric Holdings Limited           
7.11: Sinoma Science & Technology (SuZhou) co. Ltd   
.

Buy full report or by chapter as follows

Price by License Type:
[-] Hide Chapter Details
[Chapter Number] [Chapter Name] [Chapter Number Of Pages] [Chapter Price]
Title/Chapter Name Pages Price
Full Report: CNG Tank Market: Trends, Opportunities and Competitive Analysis Full Report $ 4,850
107 figures/charts and 68 tables are provided in this 205 - page report
Chapter - 1: Executive Summary 5 $ 435
Executive Summary
Chapter - 2: Global HVAC Insulation Market Dynamics 25 $ 218
2. Market Background and Classifications.
2.1 Introduction, Background, and Classifications.
2.2  Markets Served.
2.2.1 Automotive.
Light-Duty Vehicles.
Heavy-Duty Vehicles.
2.2.2  Bulk Transportation Tanks.
2.3   Supply Chain.
2.4    Industry Drivers and Challenges.
Chapter - 3: Market Trends and Forecast Analysis 46 $ 1,740

3.      Market Trends and Forecast Analysis from 2011 to 2022. 44

3.1                 Macroeconomic Trends and Forecast 44

3.2                 Global CNG Tank Market Trends and Forecast 49

3.3                 Global CNG Tank Market by Application. 51

3.3.1        Automotive CNG Tank Market 54

3.3.1.1          By Tank Type. 56

3.4.1        Type I Tanks. 73

3.4.2        Type II Tanks. 75

3.4.3        Type III Tanks. 76

3.4.4        Type IV Tanks. 78

3.5                 Global CNG Tank Type by Material Consumption. 79

3.5.1        Glass Fiber Composites. 80

3.5.2        Carbon Fiber Composite. 82

3.5.3        Metal Material 84

Chapter - 4: Regional Analysis 14 $ 2,248

4.      Market Trends and Forecast Analysis by Region. 86

4.1                 Global CNG Tank Market by Region. 86

4.2                 North American CNG Tank Market 91

4.2.1        United States CNG Tank Market 92

4.3                 European CNG Tank Market 92

4.3.1        Italian CNG Tank Market 94

4.4                 APAC CNG Tank Market 94

4.4.1        Chinese CNG Tank Market 95

4.4.2        Indian CNG Tank Market 96

4.4.3        Thai CNG Tank Market 96

4.5                 ROW CNG Tank Market 96

4.5.1        Iranian CNG Tank Market 98

4.5.2        Pakistani CNG Tank Market 98

4.5.3        Argentinian CNG Tank Market 98

Chapter - 5: Competitor Analysis 16 $ 725

5.      Competitor Analysis. 99

5.1                 Product Portfolio Analysis. 99

5.2                 Market Share Analysis. 104

5.3                 Operational Integration. 107

5.4                 Geographical Reach. 108

5.5                 Porter’s Five Forces Analysis. 110

Chapter - 6: Cost Structure Analysis 19 $ 508

6.      Growth Opportunities and Strategic Analysis. 115

6.1                 Growth Opportunity Analysis. 115

6.1.1        Growth Opportunities for the Global CNG Tank Market by Application. 115

6.1.2        Growth Opportunities for the Global CNG Tank Market by Tank Type. 116

6.1.3        Growth Opportunities for the Global CNG Tank Market by Region. 117

6.2                 Emerging Trends in the Global CNG Tank Market 118

6.3                 Strategic Analysis. 121

6.3.1        New Product Development 122

6.3.2        Capacity Expansion of the Global CNG Tank Market 123

6.3.3        Mergers, Acquisitions, and Joint Ventures in the Global CNG Tank Market 125

6.3.4        Certification. 131

Chapter - 7: Growth Opportunities and Strategic Analysis 30 $ 870

7.      Company Profiles of Leading Players. 132

7.1                 Faber Industrie S. p. A. 132

7.2                 Hexagon Composites ASA. 134

7.3                 Luxfer Gas Cylinder 138

7.4                 Beijing Tianhai Industry Co. Ltd. 142

7.5                 Worthington Cylinders GmbH.. 144

7.6                 Quantum Fuel System Technologies. 146

7.7                 Everest Kanto Cylinder Ltd. 148

7.8                 Zhongyou Tongyong Luxi Natural Gas Equipment Co., Ltd. 150

7.9                 FIBA Technologies Inc. 152

7.10              CIMC Enric Holdings Limited. 154

7.11              Sinoma Science & Technology(SuZhou) co. Ltd. 156

Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the market. The major CNG tank manufacturers are Hexagon Composites, Luxfer, Worthington Cylinders, Faber Industrie, Beijing Tianhai Industry Co. Ltd., Everest Kanto Cylinder Ltd, Quantum Fuel System, CIMC Enric, and others.
 
Below is a brief summary of the primary interviews that were conducted by both job function and region for this report.

 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
 

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