HOME Top Market Reports Compressed Natural Gas (CNG) Tanks/Cylinders Market by Type (Type 1, Type 2, Type 3, Type 4), by Raw Materials (Metal, Glass Fiber, Carbon Fiber), by Vehicle Type (Light Duty, Medium Duty, Heavy Duty), & Region - Global Forecasts to 2020

Compressed Natural Gas (CNG) Tanks/Cylinders Market by Type (Type 1, Type 2, Type 3, Type 4), by Raw Materials (Metal, Glass Fiber, Carbon Fiber), by Vehicle Type (Light Duty, Medium Duty, Heavy Duty), & Region - Global Forecasts to 2020

By: marketsandmarkets.com
Publishing Date: July 2015
Report Code: CH 3261

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The exploration and production of natural gas is growing globally. Although, growth rate has slowed down since the past few years, growing shale gas exploration in the U.S. is changing the shape of natural gas industry. The rising gasoline and diesel fuel prices, lower cost of natural gas, increasing environmental concern, and growing demand in Asia-Pacific is making compressed natural gas (CNG) a feasible option for the automotive industry. This growing demand for CNG is also, subsequently, driving the CNG tanks market. In 2013, the total natural gas vehicles (NGV) population was around 21 million. This is expected to grow at a CAGR of about 9% between 2015 and 2020. Owners of long haul vehicles are finding it increasingly beneficial to shift to CNG from diesel fuel.

With developments in technology recently, CNG tanks/cylinders are now available in different types such as Type 1, Type 2, Type 3 and Type 4. CNG tanks/cylinders are produced and manufactured by using various materials such as metals, glass fiber and carbon fiber. The major challenges in the CNG tanks market are limited availability of refueling infrastructure, rising prices of raw material, and high price of composite tanks. Frequent research and development of products is very necessary for companies to sustain their competitive position in the market.

This study estimates the global market for CNG tanks by the end of 2020. This market research study provides detailed qualitative and quantitative analysis of the global CNG tanks market. The report also provides a comprehensive review of the drivers, restraints, opportunities, winning imperatives, challenges, and key issues of the market. The market is segmented and forecasted for various regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market value and units for major countries in each of the regions are also covered in the report.

The report has also been segmented the CNG tanks/cylinders market on the basis of vehicle type. This report segments the automotive industry as light duty vehicles (LDVs), medium duty vehicles (MDVs), and heavy duty vehicles (HDVs). All these segments have been discussed in detail in the report.

Various secondary sources such as encyclopedia, directories, and databases have been used to identify and collect information useful for this extensive commercial study of CNG tanks market. The primary sources include experts from related industries and selected suppliers who were interviewed to obtain and verify critical information as well as to assess the future prospects of the CNG tanks market.

The key market players in the CNG tanks market are profiled in detail along with their recent developments and the competitive scenario of the top market players has been discussed in detail. Key market participants include Hexagon Composites ASA (Norway), Luxfer Group (the U.K), Worthington Industries (the U.S.), Quantum Fuel Systems Technologies Worldwide Inc. (the U.S.), and others.

Scope of the report: This research report categorizes the global market for CNG tanks on the basis of raw material, type, vehicle type, and region and presents a forecast units and revenue growth. It further analyzes the trends in each of the submarkets.

On the basis of raw material: The Global CNG tanks market is segmented into three categories:

  • Metals
  • Glass fiber
  • Carbon fiber

On the basis of type: The CNG tanks market is segmented into the following sub categories:

  • Type-1
  • Type-2
  • Type-3
  • Type-4

On the basis of vehicle type: The CNG tanks market is further segmented into the following sub categories:

  • Light duty vehicles (LDVs)
  • Medium duty vehicles (MDVs)
  • Heavy duty vehicles (HDVs)

On the basis of region: The global CNG tanks market is segmented into following four regions:

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

Table of Contents

1 Introduction (Page No. - 13)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered in the Report
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 16)
    2.1 Market Share Estimation
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 26)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in the CNG Tank Market
    4.2 CNG Tank Market, By Type
    4.3 CNG Tanks – Type 1 CNG Tank Accounts for Major Market Share (2014)
    4.4 Growth Rate (Units), By Country
    4.5 CNG Tank Market, By Vehicle Type
    4.6 Life Cycle Analysis, By Type (Composite Materials)
    4.7 Life Cycle Analysis, By Type (Metal Materials)

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 CNG Tanks Market, By Raw Material
           5.2.2 CNG Tanks Market, By Type
           5.2.3 CNG Tanks Market, By Vehicle Type
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Use of Natural Gas in the Automotive Industry
                    5.3.1.2 Growing Demand in Asia-Pacific
                    5.3.1.3 Increasing Environmental Awareness
           5.3.2 Restraints
                    5.3.2.1 High Cost of Composite Tanks and Regulatory Approvals
                    5.3.2.2 Refueling Infrastructure for CNG
           5.3.3 Opportunities
                    5.3.3.1 Emergence of Lightweight Composite CNG Cylinders
           5.3.4 Key Issues
                    5.3.4.1 Uncertain Oil Prices
                    5.3.4.2 Increasing Competition

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat 0f New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Degree of Competition

7 CNG Tanks Market, By Raw Material (Page No. - 49)
    7.1 Introduction
    7.2 Metal Material
    7.3 Glass Fiber Composites Raw Materials
    7.4 Carbon Fiber Composites Raw Materials

8 CNG Tanks Market, By Type (Page No. - 54)
    8.1 Introduction
    8.2 Type 1 CNG Tanks
    8.3 Type 2 CNG Tanks
    8.4 Type 3 CNG Tanks
    8.5 Type 4 CNG Tanks

9 CNG Tanks Market, By Vehicle Type (Page No. - 65)
    9.1 Introduction
    9.2 Light Duty Vehicles
    9.3 Medium Duty Vehicles
    9.4 Heavy Duty Vehicles

10 CNG Tanks Market, By Region (Page No. - 74)
     10.1 Introduction
     10.2 Asia-Pacific
             10.2.1 China
             10.2.2 Pakistan
             10.2.3 India
             10.2.4 Thailand
     10.3 Europe
             10.3.1 Italy
             10.3.2 Russia
             10.3.3 Germany
             10.3.4 Sweden
     10.4 North America
             10.4.1 U.S.
             10.4.2 Canada
             10.4.3 Mexico
     10.5 Rest of the World
             10.5.1 Iran
             10.5.2 Argentina
             10.5.3 Brazil

11 Competitive Landscape (Page No. - 108)
     11.1 Introduction
     11.2 Competitive Situation & Trends
             11.2.1 Agreements, Joint-Ventures, Contracts & Collaborations: the Most Prevalent Growth Strategy
             11.2.2 Growth Strategies
                        11.2.2.1 Expansions
                        11.2.2.2 Agreements, Joint Ventures, Contracts & Collaborations
                        11.2.2.3 New Product Launches
                        11.2.2.4 Mergers & Acquisitions

12 Company Profiles (Page No. - 117)
(Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
     12.1 Introduction
     12.2 Worthington Industries
     12.3 Luxfer Group
     12.4 Hexagon Composites ASA
     12.5 Quantum Fuel Systems Technologies Worldwide Inc.
     12.6 Everest Kanto Cylinders Ltd.
     12.7 Praxair Technologies Inc.
     12.8 Avanco Group
     12.9 Beijing Tianhai Industry Co. Ltd.
     12.10 Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
     12.11 Faber Industrie S.P.A
     12.12 Ullit SA

*Details on Company at A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 148)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Introducing RT: Real Time Market Intelligence
     13.4 Available Customizations
     13.5 Related Reports


List of Tables (82 Tables)

Table 1 Impact of CNG Tanks Market Drivers (2015-2020)
Table 2 Impact of CNG Tank Market Restraints (2015–2020)
Table 3 Impact of CNG Tanks Market Opportunities (2015–2020)
Table 4 CNG Tanks Materials: Advantages & Disadvantages
Table 5 Metal Material CNG Tanks: Maximum Content in % of Elements
Table 6 Metal Material CNG Tanks: Maximum Sulphur & Phosphorus Limit in Percentage
Table 7 Metal CNG Tanks Market Size, 2013–2020
Table 8 Glass Fiber CNG Tanks Market Size, 2013–2020
Table 9 Carbon Fiber CNG Tanks Market Size, 2013–2020
Table 10 CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 11 CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 12 Type 1 CNG Tanks Market Size, 2013–2020
Table 13 Type 2 CNG Tanks Market Size, 2013–2020
Table 14 Type 3 CNG Tanks Market Size, 2013–2020
Table 15 Type 4 Compressed Natural Gas Tanks Market Size, 2013–2020
Table 16 CNG Tanks Market Size, By Vehicle Type, 2013–2020 (Units)
Table 17 CNG Tanks Market Size, By Vehicle Type ,2013–2020 ($Million)
Table 18 Light Duty Vehicle Type Market Size, By Region, 2013–2020 (Units)
Table 19 Light Duty Vehicle Type Market Size, By Region, 2013–2020 ($Million)
Table 20 Medium Duty Vehicle Type Market Size, By Region, 2013–2020 (Units)
Table 21 Medium Duty Vehicle Type Market Size, By Region, 2013–2020 ($Million)
Table 22 Heavy Duty Vehicle Type Market Size, By Region, 2013–2020 (Units)
Table 23 Heavy Duty Vehicle Type Market Size, By Region, 2013–2020 ($Million)
Table 24 CNG Tanks: Regulations in Developed & Developing Countries
Table 25 CNG Tanks Market Size, By Region, 2013-2020 (Units)
Table 26 CNG Tanks Market Size, By Region, 2013-2020 ($Million)
Table 27 Asia-Pacific: CNG Tanks Market Size, By Country, 2013-2020 (Units)
Table 28 Asia-Pacific: CNG Tanks Market Size, By Country, 2013–2020 ($Million)
Table 29 Asia-Pacific: CNG Tanks Market Size, By Vehicle Type, 2013-2020 (Units)
Table 30 Asia-Pacific: CNG Tanks Market Size, By Vehicle Type, 2013-2020 ($Million)
Table 31 Asia-Pacific: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 32 Asia-Pacific: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 33 China: CNG Tanks Market Size, By Type, 2013-2020 (Units)
Table 34 China: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 35 Pakistan: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 36 Pakistan: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 37 India: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 38 India: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 39 Thailand: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 40 Thailand: CNG Tank Market Size, By Type, 2013–2020 ($Million)
Table 41 Europe: CNG Tanks Market Size, By Country, 2013–2020 (Units)
Table 42 Europe: CNG Tanks Market Size, By Country, 2013–2020 ($Million)
Table 43 Europe: CNG Tanks Market Size, By Vehicle Type, 2013–2020 (Units)
Table 44 Europe: CNG Tanks Market Size, By Vehicle Type, 2013–2020 ($Million)
Table 45 Europe: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 46 Europe: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 47 Italy: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 48 Italy: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 49 Russia: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 50 Russia: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 51 Germany: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 52 Germany: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 53 Sweden: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 54 Sweden: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 55 North America: CNG Tanks Market Size, By Country, 2013-2020 (Units)
Table 56 North America: CNG Tanks Market Size, By Country, 2013–2020 ($Million)
Table 57 North America: CNG Tanks Market Size, By Vehicle Type, 2013–2020 (Units)
Table 58 North America: CNG Tanks Market Size, By Vehicle Type, 2013–2020 ($Million)
Table 59 North America: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 60 North America: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 61 U.S.: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 62 U.S.: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 63 Canada: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 64 Canada: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 65 Mexico: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 66 Mexico: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 67 RoW: CNG Tanks Market Size, By Country, 2013–2020 (Units)
Table 68 RoW CNG Tanks Market Size, By Country, 2013–2020 ($Million)
Table 69 RoW: CNG Tanks Market Size, By Vehicle Type, 2013–2020 (Units)
Table 70 RoW: CNG Tanks Market Size, By Vehicle Type, 2013–2020 ($Million)
Table 71 RoW: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 72 RoW: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 73 Iran: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 74 Iran: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 75 Argentina: CNG Tanks Market Size, By Type, 2013–2020 (Units)
Table 76 Argentina: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 77 Brazil: CNG Tanks Market Size, By Type, 2013—2020 (Units)
Table 78 Brazil: CNG Tanks Market Size, By Type, 2013–2020 ($Million)
Table 79 Expansions, 2010–2015
Table 80 Agreements, Joint Ventures, Contracts & Collaborations, 2010–2015
Table 81 New Product Launches, 2010–2015
Table 82 Mergers & Acquisitions, 2010–2015
 
 
List of Figures (55 Figures)
 
Figure 1 CNG Tanks Market Segmentation, By Raw Material
Figure 2 CNG Tanks Market, By Type
Figure 3 CNG Tanks Market, By Vehicle Type
Figure 4 CNG Tanks Market: Research Design
Figure 5 Key Data From Secondary Sources
Figure 6 Key Data From Primary Sources
Figure 7 Key Industry Insights
Figure 8 Market Size Estimation Methodology: Bottom-Up Approach
Figure 9 Market Size Estimation Methodology: Top-Down Approach
Figure 10 Breakdown of Primary Interviews: By Company Type, Designation, & Region
Figure 11 CNG Tanks Market: Data Triangulation
Figure 12 Assumptions for the Research Study
Figure 13 CNG Tanks Market Snapshot, By Type (2015 vs. 2020): Top Two Segments Account for More Than Three-Fourth of the Market Share
Figure 14 CNG Tanks Market Ranking, By Country, 2014
Figure 15 CNG Tanks Market Share ( By Units), 2014
Figure 16 Attractive Opportunities in the CNG Tank Market During the Forecast Period
Figure 17 Type 4 CNG Cylinders is Expected to Be the Fastest-Growing Segment During the Forecast Period
Figure 18 Asia-Pacific is the Biggest Market for CNG Tank in Terms of Value (2014)
Figure 19 Russia is Expected to Be the Fastest-Growing Market, Closely Followed By Mexico (2015–2020)
Figure 20 LDV Account for Majority of the Market Size, By Unit (2015-2020)
Figure 21 Asia-Pacific May Soon Witness Exponential Growth in the Composite Material Tanks Market
Figure 22 North America May Soon Witness Exponential Growth in the Metal Material Tanks Market
Figure 23 Drivers, Restraints, Opportunities, and Key Issues
Figure 24 CNG Tanks: Value Chain
Figure 25 Porter’s Five Forces Analysis
Figure 26 Carbon Fiber Composite Material is Projected to Register the Highest Growth Rate in the CNG Tanks Market (2015–2020)
Figure 27 CNG Tanks Market, By Type
Figure 28 Increasing Demand for Light-Weight Cylinders is Accelerating the Growth of Type 4 CNG Tanks, 2015-2020 (Units)
Figure 29 Type 1 CNG Tanks Holds the Majority of Market Share in CNG Tanks Market (2014)
Figure 30 Asia-Pacific is at the Forefront in Terms of Usage of Type 1 CNG Tanks
Figure 31 North America is at the Forefront in Terms of Consumption of Type 3 CNG Tanks, During the Forecast Period
Figure 32 Heavy Duty Vehicle is the Fastest-Growing Segment, Being Closely Followed By Light Duty Vehicle Type
Figure 33 Demand for CNG Tanks in Light Duty Vehicle Type, By Units, 2015 vs. 2020
Figure 34 Demand for CNG Tanks in Medium Duty Vehicle Type, By Units, 2015 vs. 2020
Figure 35 North America Registered the Highest Market Share in HDV Vehicle Type in CNG Tanks Market, By Units, 2014
Figure 36 Regional Snapshot–Rapid Growth Markets are Emerging as New Strategic Locations (2015–2020)
Figure 37 Asia-Pacific CNG Tanks Market Snapshot China is the Most Lucrative Market (2013-2020)
Figure 38 Italy Dominates the CNG Tanks Market in Europe (2015–2020)
Figure 39 U.S. is the Key Market for the CNG Tanks Market in North America (2013-2020)
Figure 40 Companies Adopted Agreements, Joint-Ventures, Contracts & Collaborations as the Key Growth Strategy in the Last Five Years (2010-2015)
Figure 41 Yearly Market Developments Matrix: 2014 Witnessed the Maximum Number of Developments
Figure 42 Agreements, Joint-Ventures, Contracts & Collaborations Was the Key Growth Strategy, 2010-2012
Figure 43 Geographical Revenue Mix of the Key Market Players
Figure 44 Worthington Industries: Company Snapshot
Figure 45 Worthington Industries: SWOT Analysis
Figure 46 Luxfer Group: Company Snapshot
Figure 47 Luxfer Group: SWOT Analysis
Figure 48 Hexagon Composites ASA: Company Snapshot
Figure 49 Hexagon Composites ASA: SWOT Analysis
Figure 50 Quantum Systems Technologies Worldwide Inc.: Company Snapshot
Figure 51 Quantum Fuel Systems Technologies Worldwide Inc.: SWOT Analysis
Figure 52 Everest Kanto Cylinders Ltd.: Company Snapshot
Figure 53 Everest Kanto Cylinders Ltd.: SWOT Analysis
Figure 54 Praxair Technologies Inc.: Company Snapshot
Figure 55 Praxair Technologies Inc.: SWOT Analysis

Global CNG tanks/cylinders market expected to be worth $1,563.23 Million growing at a CAGR of 9.65% by 2020.

A vehicle engine which uses compressed natural gas (CNG) as fuel is termed as a CNG vehicle. Internal combustion engines running on CNG are well-proven technologies and work similarly to conventional fuel-powered spark ignition engines. CNG is mostly used in spark-ignition engines for bi-fueled vehicles (vehicles operating on more than one fuel type). CNG is also gaining wide-scale usage in compression-ignition engines based vehicle such as light duty vehicles (LDVs), medium duty vehicles (MDVs) and heavy-duty vehicles (HDVs).

The global CNG tanks/cylinders market has witnessed a strong growth in the past few years and is expected to continue so in the coming years. This growth is attributed to the increasing demand for natural gas vehicles, increasing production and exploration of natural gas, and emergence of composite CNG tanks/cylinders. The increasing demand for CNG tanks/cylinders is majorly from emerging Asia-Pacific countries such as China, India, and Pakistan. There is a wide gap in the prices of oil and natural gas in the region. Moreover, high dependency on imported fuel and increasing environmental concerns are also driving the market.

Currently, Asia-Pacific is the largest consumer of CNG tanks/cylinders, followed by RoW, Europe, and North America. Among all the countries in the Asia-Pacific region, China is the biggest consumer of CNG tanks/cylinder. The region is also at the forefront in terms of consumption of Type 1 CNG tanks. On the other hand, North America is projected to be the fastest growing region and it holds a significant share in the overall composites CNG cylinders market.

CNG vehicles are gaining penetration in developing countries. This can be attributed to low-cost of CNG as against the rising prices of other transportation fuels. In addition CNG operated vehicles are considered as a greener alternative to petroleum operated vehicles. The bi-fuel options offered by CNG vehicles make them one of the preferred choices amongst user.. Moreover cost benefits of CNG coupled with significant carbon emission reduction is expected to increase the CNG market globally.

The important CNG tanks/cylinders manufacturers include Hexagon Composites ASA (Norway), Luxfer Group (the U.K), Everest Kanto Cylinders Ltd. (India), Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd (China), Worthington Industries (the U.S.), Quantum Fuel Systems Technologies Worldwide Inc. (the U.S.) and others.

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