Compressed Natural Gas (CNG) Cylinders stores the CNG. It is safest aspects of using CNG as an alternative fuel made with shape of cylindrical shape by a semi-spherical shape covering each end and provides the strongest structural shape.
According to study, “Global Compressed Natural Gas (CNG) Cylinders Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” some of the major companies that are currently working in the global Compressed Natural Gas (CNG) cylinders market are Sinomatech, Worthington Industries, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Praxair Technologies Inc., Everest Kanto Cylinders Ltd., Luxfer Group, Avanco Group, Beijing Tianhai Industry Co. Ltd., Hexagon Composites ASA, Quantum Fuel Systems Technologies Worldwide Inc., Rama Cylinders, CIMC ENRIC, Faber Industrie, S.P.A., Avanco Group.
Based on type, global CNG cylinders market is segmented into type 1, type 2, type 3 and type 4. Type is constructed from metals (aluminum & steel). Type 2 is constructed from metal liner reinforced by composite wrap (carbon or glass fiber) around middle (hoop wrapped). Type 3 is constructed frommetal liner reinforced by composite wrap around entire tank (full wrapped). Type 4 is constructed from Plastic gas-tight liner reinforced bycomposite wrap around entire tank (full wrapped). Based on material, market is split into composites and steel. Composites include boss, resin, liner and fibers. Based on structure, market is segmented into hemisphere end structure,concave-shape end structure and dish-shape end structure. Based on vehicle type, market is categorized into Heavy duty vehicles (HDVs), Medium duty vehicles (MDVs) and Light duty vehicles (LDVs). HDV is used owing to affordability and eco-friendliness. Based on testing, market is segmented into low temperature pressure cycling, environmental exposure test, hydraulic crush test, damage tolerance/gunfire test, bonfire test, hydraulic cycle pressure testing, drop impact testing and vibration test. Based on source, market is split into Unconventional Sources (CNG), associated gas and non-associated gas.
The global CNG cylinders market is majorly driven by increase in use of natural gas in the automotive industry, followed by increasing environmental awareness and growing demand in Asia-Pacific. The market growth for storage & transportation of CNG depends on government plans and initiatives switching over to other fuel. Apart from the major benefits, few of the restraints include refueling infrastructures for CNG and high cost of composite tanks ®ulatory approvals. In addition, emergence of lightweight composite CNG cylinders is expected to add big opportunity to the market. However, market is impacted by few issues which include increase in competition and uncertainty related to oil prices.
The global CNG cylinders market has registered a substantial augmentation and is expected to witness a considerable increase in coming years due to increase production & exploration of natural gas, increasing demand for natural gas vehicles, and emergence of composite CNG cylinders. Asia-Pacific region is one the leading consumer of CNG cylinders, followed by Europe, and North America owing to increase in environmental concerns and high dependency on imported fuel, majorly from emerging countries such as China, Pakistan and India. In 2019, the global CNG cylinders market in terms of value reached at US $730 million and it is estimated to reach at US $1080 million, by 2024.
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Global Compressed Natural Gas Cylinders Market
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