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To understand the industry dynamics in the cng tank market, Michael Porter`s Five Forces analysis is considered, which provides structured framework for analyzing competitive rivalry, barriers to entry, threat of substitutes, supplier power, and buyer power as shown in below chart.

In this report, above five forces are analyzed with deeper look on buyer power, which refers to the pressure customers can exert on businesses to get them to provide better quality products, better customer service, and lower prices. Several factors determine buyer`s power such as switching costs, buyers ability to easily backward integrate, buyers price sensitivity, differentiated products, availability of substitutes, etc. Low buyer bargaining power makes an industry more attractive and increases profit potential for the seller, while high buyer bargaining power makes an industry less attractive and decreases profit potential for the seller.

In terms of market potential, the global CNG tank market looks attractive with opportunities in automotive and bulk transportation applications. 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 major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.

Designed for existing players and new entrants in the cng tank market, this report titled "Porter`s Five Forces Analysis in the CNG Tank Market: A Deeper Look at Buyer Power" is the comprehensive study providing valuable key insights regarding buyer power and competitive rivalry in the cng tank market. To learn the scope, benefits and other details of this report, download the report brochure. This report will save hundreds of hours of your own personal research time and will significantly benefit in understanding competitive dynamics in the cng tank market.

Table of Contents

1: Market Overview
    1.1: Industry Outlook
    1.2: Industry Drivers and Challenges

2: Michael Porter`s Five Forces Analysis
    2.1: Bargaining Power of Buyers
    2.2: Bargaining Power of Suppliers
    2.3: Competitive Rivalry in the Industry
    2.4: Threat of New Entrants
    2.5: Threat of Substitutes

3: 3: A Deeper Look at Buyer Power


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Lucintel has been closely tracking and conducting market research for various industries since 1998. This porter`s five forces analysis was designed to analyze competitive rivalry, barriers to entry, threat of substitutes, supplier power, and buyer power of this market.

This study is a culmination of several weeks of efforts performed by Lucintel`s analyst team. The analysts used the following sources for the creation and completion of this valuable study:

  • Primary and secondary research on industry, suppliers, and buyers of this market
  • Extensive searches of published works, market, and database information pertaining to industry news, and company press releases
  • A compilation of the experiences, judgments, and insights of Lucintel`s professionals, who have analyzed and tracked competitiveness, attractiveness, and profit potential of this market over the years

Lucintel collects a significant amount of unintelligent data from a variety of sources and converts this into intelligent data as follows. The intelligent data is used by our clients for making confident business decisions. The figure below is a graphical representation of the end-to-end Lucintel research process.

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