Lucintel's latest market report analyzed that global CNG tank provides attractive opportunities in automotive and bulk transportation applications. The Global CNG tank market is expected to reach $1.0 billion by 2025 with a CAGR of 0.9%. In this market, automotive is the largest segment by application, whereas type I is largest by tank type. The increase in green fleet and development of type V tanks provides strategic growth path in this market.
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Based on applications, the global CNG tank market is segmented into automotive and bulk transportation. The automotive segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period due to 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.
Browse in-depth TOC on “Global CNG Tank Market”
68 – Tables
95 – Figures
136 – Pages
The Global CNG Tank Market is marked by the presence of several big and small players. Some of the prominent players offering global CNG tank include Hexagon Composites ASA, Luxfer Gas Cylinder, Worthington Cylinders, Faber Industries S.p.A., and Everest Kanto Cylinder Ltd.
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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. 972.636.5056
Cell: 303.775.0751
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