CNG, RNG, and Hydrogen Tanks Market

CNG, RNG, and Hydrogen Tanks Market by Gas Type (CNG, RNG, Hydrogen), Material Type (Metal, Carbon, Glass), Tank Type (Type 1, Type 2, Type 3, Type 4), Application (Fuel, Transportation) and Region - Global Forecast to 2025

Report Code: CH 7730 Aug, 2020, by marketsandmarkets.com

[165 Pages Report] The global CNG, RNG, and hydrogen tanks market size is projected to grow from USD 1.8 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 8.1%. The demand for alternative fuel vehicles, such as CNG, RNG, and hydrogen fuels, is expected to increase from the transportation industry due to the stringent environmental regulations, government incentives for alternate fuels and development in fueling infrastructure. However, owing to COVID-19, the sales of natural and fuel cell vehicles has declined, resulting in reduced demand for CNG, RNG, and hydrogen tanks.

CNG, RNG, and Hydrogen Tanks Market

Impact of COVID-19 on global CNG, RNG, and hydrogen tanks market

COVID-19 has negatively affected the demand for CNG, RNG, and hydrogen tanks across the globe due to decrease in natural gas and fuel cell electric vehicles. Also, the bulk transportation of CNG, RNG< and hydrogen tanks has decreased due to lockdown and travel bans. However, as per NGV database knowledge database, the impact of COVId-19 would be short term. The natural fuel demand would increase in the first quarter of 2021, thereby triggering the demand for CNG, RNG, and hydrogen tanks.

Increasing tax incentives for CNG vehicles and infrastructure

The tax incentives have been increased or extended and increased in various regions, including APAC and North America. For instance, in May 2019, the government of the US, state of Oklahoma revised and approved its legislation concerning tax credits as they apply to Compressed Natural Gas (CNG) vehicles and their refueling. The tax was extended from January 1, 2020 to December 31, 2027. This will ensure that Oklahoma will consistently lead the country in supporting natural gas for vehicles as the best fuel option. This will generate the demand for the company’s product and help to keep the environment clean by targeting the highest mileage and dirtiest vehicles, by provide economic benefit to the state and its constituents. Furthermore, in December 2019, the Indian Oil Ministry cut in GST on CNG vehicles to 5% from the current 28%, which indirectly helped the government to drive the popularity for gas vehicles. The main reason for the countries to increase tax incentives is to reduce the carbon dioxide (CO2) emissions as natural gases emit 25% less CO2 than petrol on every unit of energy produced. This has resulted in an increasing demand for CNG tanks.

High cost of composite material tanks and regulatory approvals

The market for composites and end-use industries is competitive. In such a scenario, all decisions are governed by commercial considerations. The two most common commercial factors are capital expenditure (CAPEX) and operating expense (OPEX). The high price of raw material and high expenditure required during the manufacturing process, results in decreased economies of scale. Therefore, a cost-effective design and production technology is desired to get the overall economies of scale. Carbon fiber and glass fiber are highly capital intensive, and many potential players are not motivated to enter the market due to the high cost of entry. The cost of carbon fiber and glass fiber, major raw materials for Type 3 and Type 4 CNG composite tanks, is very high, which eventually adds to the total cost of Type 3 and Type 4 CNG composite tanks. The identification and definition of low-cost technologies for the commercial production of low-cost carbon and glass fiber composites are among the critical issues for the manufacturers, globally.

A manufacturer needs to have a composite cylinder type approved by a regulatory body or an independent inspection authority. There are also certain standards that need to be conformed to, pertaining to the safety measures, to avoid human or property loss from blast accidents. However, such incidents occur mainly due to the use of substandard CNG cylinders and CNG kits in vehicles, which may hamper the demand and limit the growth of the CNG, RNG, and hydrogen tanks market. These factors may impact the CNG, RNG, and hydrogen tanks market, eventually.

Development of low-weight transportation tanks

Hydrogen-powered cars are similar to electric cars. They have electric motors that drive the wheels like an electric car but, the difference is in their batteries. In an electric car, electrical power is stored in a conventional battery, while in a hydrogen car, the electricity is stored in the form of hydrogen and converted into electricity, in a device known as a fuel cell. Currently, the cost of storage tanks for cars is very high, which limits the use of these cars. A 5-kg tank for a car costs around USD 4,000-4,500, which itself is a huge price addition to the total cost of the car. Research is ongoing for developing Class 4-cylinder tanks made from lightweight carbon fiber in which the cost is being optimized by lowering the pressure of the gas stored. The top players in the manufacturing of hydrogen storage tanks for cars are Luxfer Group (UK), Iljin (South Korea), Quantum Fuel System Technologies (US), and Hexagon Lincoln (US).

Already well-established infrastructure for electric cars

Hydrogen-powered cars are more popular in countries, such as South Korea and Japan, where their respective governments have offered subsidies for these vehicles and have also provided finance for building the necessary infrastructure. Furthermore, in the US, there are incentives offered by the California State for the use of fuel-cell-powered vehicles. Although the hydrogen-powered cars may be a sustainable technology in the modern world, experts believe hydrogen needs to be developed from a natural gas source, which results in the use of fossil fuels, whereas electric cars rely on battery power and hence are greener as compared to hydrogen cars. However, efforts are being made to use hydrogen produced from renewable sources. Hydrogen-powered cars are three times less energy efficient, have less volumetric efficiency, and higher weight as compared to electric cars. The necessary infrastructure for refuelling the tanks is inadequate, which restrains the market growth. Industry experts believe that if the hydrogen technology does not become more refined globally during the forecast period, it may be substituted by electric cars. The companies in the fuel cell car market, such as Toyota and Hyundai & Honda, have already started to plan to develop electric vehicles in addition to the hydrogen-powered vehicles in case the latter technology gets phased out.

CNG tanks to account for the largest market share, in terms of value and volume

The CNG gas segment dominated the CNG, RNG, and hydrogen tanks market in terms of value and volume. This is because of rising awareness about CNG gas compared to others and the fact that usage of CNG in fuel tanks and transportation tanks is less hazardous compared to that of hydrogen gas. In 2020, the market size, in terms of value and volume of the gas type segment, is estimated to decrease due to the global impact of COVID-19. The discovery of COVID-19 has resulted in complete or partial lockdown in various major economies, namely; US, China, Germany, Japan, UK, India, and France. However, after 2020, it is estimated that the RNG gas segment would grow at the highest rate, in terms of volume, during the forecast period.

Metal accounted for the largest share in terms of value and volume

In terms of value and volume, the metal material market the CNG, RNG, and hydrogen tanks market in 2019. The technology for manufacturing metal-based CNG, RNG, and hydrogen tanks is well-established and comparatively cheaper than those of glass and carbon fiber-based tanks. Furthermore metal -based tanks offer various advantages, such as excellent durability, high stiffness, high toughness, and fatigue resistance.

Type 1 tanks accounted for the largest market share in terms of value and volume

The Type 1 cylinder segment dominated the CNG, RNG, and hydrogen tanks market in terms of value and volume in 2019 due to low cost and high demand from countries such as China, India, Pakistan, Brazil, Iran, and others. However, type 4 CNG tanks are projected to account for the fastest-growing market at the highest CAGR because of their light weight. The increasing environmental awareness, increasing pollution concerns, and need for light-weighted tanks are expected to push the Type 4 tanks market, globally.

CNG, RNG, and Hydrogen Tanks Market by Region

APAC held the largest market share in the CNG, RNG, and hydrogen tanks market

APAC accounted for the largest share in the global CNG, RNG, and hydrogen tanks market due to high demand CNG tanks. The CNG tank manufacturing technology and CNG infrastructure is well developed in the APAC countries as compared with hydrogen and RNG. The number of CNG vehicles in countries such as China, India, Pakistan, Thailand is increasing significantly backed by government support and incentives.

Key Market Players

The key players in the global composites market are:

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composites industry. The study includes an in-depth competitive analysis of these key players in the CNG, RNG, and hydrogen tanks market, with their company profiles, recent developments, and key market strategies.

Scope of the report

Report Metric

Details

  • Years considered for the study
  • 2018–2025
  • Base year
  • 2019
  • Forecast period
  • 2020–2025
  • Units considered
  • Value (USD Million), Volume (Thousand Unit)
  • Segments
  • Gas Type, Material Type, Tank Type, Application and Region
  • Regions
  • Europe, North America, APAC, MEA, and Latin America
  • Companies
  • Worthington Industries, Inc. (US), Luxfer Group (UK), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC. (US), Everest Kanto Cylinders Ltd. (India), Praxair Technologies Inc. (US), Avanco Group (Germany), Xinyi Beijing Tianhai Industry Co. Ltd. (China), Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd. (China), Faber Industrie SpA (Italy)

This research report categorizes the CNG, RNG, and hydrogen tanks market based on gas type, material type, tank type, application, and region.

By Gas Type:

  • Compressed Natural Gas (CNG)
  • Hydrogen
  • Renewable Natural Gas (RNG)

By Material Type:

  • Metal
  • Carbon Fiber
  • Glass Fiber

By Tank Type:

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

By Application:

  • Fuel Tank
  • Transportation Tank

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In July 2020, Hexagon Purus received the first contract from a major US hydrogen fuel supplier to provide hydrogen transport modules in the US. The purchased transport modules are composed of Hexagon’s proprietary, lightweight, Type 4, 500 bar pressure vessels.
  • In April 2019, Faber Industries SpA has achieved 0.75 kg/l for CNG Type 1 cylinders by using advanced steel grade. The typical type 1 Faber’s cylinder has a weight efficiency of 0.84 kg/l. This has become the world’s most appreciated and adopted product in CNG vehicles market..
  • In April 2018, Worthington Industries introduced two new CNG fuel system products for medium and heavy truck markets. These additions further expand one of the widest CNG fuel system portfolios in the medium and heavy-duty markets.
  • In June 2017, Worthington Industries acquired Amtrol, a leading manufacturer of pressure cylinders and water system tanks. This acquisition has strengthened Worthington’s industrial gas and consumer products businesses and complements the refrigerant cylinder manufacturing capabilities.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 22)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 CNG, RNG, AND HYDROGEN TANKS MARKET: BY MATERIAL; INCLUSIONS AND EXCLUSIONS
           1.2.2 CNG, RNG, AND HYDROGEN TANKS MARKET: BY APPLICATION; INCLUSIONS AND EXCLUSIONS
           1.2.3 CNG, RNG, AND HYDROGEN TANKS MARKET: BY GAS TYPE; INCLUSIONS AND EXCLUSIONS
           1.2.4 CNG, RNG, AND HYDROGEN TANKS MARKET: BY TANK TYPE; INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           FIGURE 1 CNG, RNG, AND HYDROGEN TANKS MARKET SEGMENTATION
           1.3.1 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 UNIT CONSIDERED
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 28)
    2.1 RESEARCH DATA
           FIGURE 2 CNG, RNG, AND HYDROGEN TANKS MARKET: RESEARCH METHODOLOGY
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 PRIMARY INTERVIEWS
                    2.1.2.2 Key data from primary sources
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
    2.2 GROWTH RATE ASSUMPTIONS/GROWTH FORECAST
    2.3 MARKET SIZE ESTIMATION
           2.3.1 DEMAND-SIDE ANALYSIS
           2.3.2 SUPPLY-SIDE ANALYSIS
                    FIGURE 3 MARKET NUMBER ESTIMATION
    2.4 DATA TRIANGULATION
           FIGURE 4 CNG, RNG, AND HYDROGEN TANKS MARKET: DATA TRIANGULATION
    2.5 ASSUMPTIONS
           2.5.1 RISK ANALYSIS

3 EXECUTIVE SUMMARY (Page No. - 36)
    FIGURE 5 CNG TANKS DOMINATE THE GLOBAL MARKET
    FIGURE 6 CARBON-FIBER BASED CNG, RNG, AND HYDROGEN TANKS TO REGISTER THE HIGHEST CAGR
    FIGURE 7 FUEL TANK APPLICATION TO LEAD THE MARKET BETWEEN 2020 AND 2025
    FIGURE 8 TYPE 1 TO DOMINATE THE MARKET BETWEEN 2020 AND 2025
    FIGURE 9 APAC WAS THE LEADING REGION IN THE CNG, RNG, AND HYDROGEN TANKS MARKET

4 PREMIUM INSIGHTS (Page No. - 41)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE CNG, RNG, AND HYDROGEN TANKS MARKET
           FIGURE 10 HIGH DEMAND FOR CLEAN FUELS TO DRIVE THE MARKET
    4.2 CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE AND REGION
           FIGURE 11 TYPE 1 AND APAC TO ACCOUNT FOR THE LARGEST SHARES IN THE CNG, RNG, AND HYDROGEN TANKS MARKET
    4.3 CNG, RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
           FIGURE 12 METAL DOMINATES THE CNG, RNG, AND HYDROGEN TANKS MARKET
    4.4 CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
           FIGURE 13 FUEL TANK APPLICATION TO DOMINATE THE CNG, RNG, AND HYDROGEN TANKS MARKET
    4.5 CNG, RNG, AND HYDROGEN TANKS MARKET IN CNG TANKS SEGMENT, BY KEY COUNTRY
           FIGURE 14 CHINA TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 44)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 15 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE CNG, RNG, AND HYDROGEN TANKS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing use of natural gas in automotive industry
                    5.2.1.2 Increasing tax incentives for CNG vehicles and infrastructure
                    5.2.1.3 Increased demand for CNG, hydrogen, and RNG tanks in North America and Europe
                    5.2.1.4 Growing demand for CNG, RNG, and hydrogen tanks from APAC region
                    5.2.1.5 Rising environmental awareness to increase natural gas demand
           5.2.2 RESTRAINTS
                    5.2.2.1 Limited availability of hydrogen and CNG refueling infrastructure in developed economies
                    5.2.2.2 High cost of composite material tanks and regulatory approvals
                    5.2.2.3 Decrease in demand for CNG, RNG, and hydrogen tanks due to COVID-19 pandemic
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Emergence of lightweight composite material CNG cylinders
                    5.2.3.2 Development of low-weight transportation tanks
           5.2.4 CHALLENGES
                    5.2.4.1 Impact of fluctuating oil prices on CNG, RNG, and hydrogen tanks market
                    5.2.4.2 Already well-established infrastructure for electric cars
    5.3 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 16 CNG, RNG, AND HYDROGEN TANKS MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF BUYERS
           5.3.2 BARGAINING POWER OF SUPPLIERS
           5.3.3 THREAT OF NEW ENTRANTS
           5.3.4 THREAT OF SUBSTITUTES
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 VALUE CHAIN ANALYSIS
    5.5 PRICING ANALYSIS
    5.6 CNG, RNG, AND HYDROGEN TANKS MARKET PATENT ANALYSIS
           5.6.1 METHODOLOGY
           5.6.2 DOCUMENT TYPE
                    FIGURE 17 PUBLICATION TRENDS - LAST 5 YEARS
           5.6.3 INSIGHT
                    FIGURE 18 JURISDICTION ANALYSIS FOR HYDROGEN TANKS
                    FIGURE 19 JURISDICTION ANALYSIS FOR CNG TANKS
           5.6.4 TOP APPLICANTS OF CNG TANKS
                    FIGURE 20 TOP APPLICANTS OF CNG TANKS
           5.6.5 TOP APPLICANTS OF HYDROGEN TANKS
                    FIGURE 21 TOP APPLICANTS OF HYDROGEN TANKS
    5.7 MACROECONOMIC OVERVIEW AND KEY TRENDS
           5.7.1 INTRODUCTION
           5.7.2 TRENDS AND FORECAST OF GDP
                    TABLE 1 ANNUAL PERCENTAGE CHANGE OF GDP, BY REGION, APRIL 2020
           5.7.3 TRENDS IN AUTOMOTIVE INDUSTRY
                    TABLE 2 GLOBAL NATURAL GAS VEHICLES (NGVS) /CNG STATISTICS, 2019
           5.7.4 HYDROGEN GAS PRODUCTION AND ASSOCIATED CHALLENGES
           5.7.5 NUMBER OF RNG/BIOMETHANE PLANTS
                    TABLE 3 GLOBAL NUMBER OF RNG PLANTS, 2019

6 CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE (Page No. - 61)
    6.1 INTRODUCTION
           FIGURE 22 CNG GAS SEGMENT TO LEAD THE CNG, RNG, AND HYDROGEN TANKS MARKET
           TABLE 4 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
           TABLE 5 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, GAS TYPE, 2018–2025 (THOUSAND UNITS)
    6.2 CNG
           6.2.1 CNG REDUCES CARBON MONOXIDE EMISSIONS BY 90%-97%
                    FIGURE 23 DEMAND FOR CNG TO BE HIGHEST IN APAC
                    TABLE 6 CNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 7 CNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
                    TABLE 8 CNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                    TABLE 9 CNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
    6.3 HYDROGEN
           6.3.1 HYDROGEN IS THE LIGHTEST AND MOST ABUNDANT GAS
                    TABLE 10 HYDROGEN: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 11 HYDROGEN: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
                    TABLE 12 HYDROGEN: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                    TABLE 13 HYDROGEN: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
    6.4 RNG
           6.4.1 RNG IS A QUALIFIED BIOFUEL UNDER THE RENEWABLE FUEL STANDARD
                    TABLE 14 RNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 15 RNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
                    TABLE 16 RNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                    TABLE 17 RNG: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)

7 CNG, RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL (Page No. - 70)
    7.1 INTRODUCTION
           FIGURE 24 METAL SEGMENT TO LEAD CNG, RNG, AND HYDROGEN TANKS MARKET
           TABLE 18 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
           TABLE 19 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
    7.2 METAL
           7.2.1 METAL IS THE CHEAPEST RAW MATERIAL
                    FIGURE 25 DEMAND FOR METAL TO BE HIGHEST IN APAC
                    TABLE 20 METAL: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 21 METAL: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
    7.3 GLASS FIBER
           7.3.1 GLASS FIBER COMPOSITE RAW MATERIALS ARE 15%- 20% LIGHTER THAN TRADITIONAL STEEL
                    TABLE 22 GLASS FIBER: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 23 GLASS FIBER: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
    7.4 CARBON FIBER
           7.4.1 CARBON FIBER RAW MATERIALS ARE USUALLY USED IN HIGH-VALUE APPLICATIONS
                    TABLE 24 CARBON FIBER: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 25 CARBON FIBER: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2028 (THOUSAND UNITS)

8 CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE (Page No. - 77)
    8.1 INTRODUCTION
           FIGURE 26 TYPE 1 CYLINDER SEGMENT TO DOMINATE CNG, RNG, AND HYDROGEN TANKS MARKET
           TABLE 26 CNG TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
           TABLE 27 CNG TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
    8.2 TYPE 1
           8.2.1 FUEL TANK APPLICATION DRIVING THE USE OF TYPE 1 CYLINDER TANK
                    FIGURE 27 DEMAND FOR TYPE 1 CYLINDER TANK TO BE HIGHEST IN APAC
                    TABLE 28 TYPE 1: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 29 TYPE 1: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
    8.3 TYPE 2
           8.3.1 INCREASING DEMAND FROM APPLICATIONS FOR TYPE 2 TANKS DUE TO THEIR LIGHT-WEIGHT PROPERTY
                    TABLE 30 TYPE 2: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 31 TYPE 2: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
    8.4 TYPE 3
           8.4.1 TYPE 3 CYLINDERS HAVE HIGH STRENGTH AND EXTRA IMPACT RESISTANCE
                    TABLE 32 TYPE 3: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 33 TYPE 3: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
    8.5 TYPE 4
           8.5.1 TYPE 4 CYLINDERS ARE THE LIGHTEST BUT ALSO COSTLY
                    TABLE 34 TYPE 4: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 35 TYPE 4: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)

9 CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION (Page No. - 85)
    9.1 INTRODUCTION
           FIGURE 28 FUEL TANK APPLICATION TO DOMINATE CNG, RNG, AND HYDROGEN TANKS MARKET
           TABLE 36 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
           TABLE 37 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
    9.2 FUEL TANK
           9.2.1 DURABLE, CHEAPER, WITH LOWER CO2 EMISSION
           9.2.2 LIGHT-DUTY VEHICLES
           9.2.3 MEDIUM-DUTY VEHICLES
           9.2.4 HEAVY-DUTY VEHICLES
                    TABLE 38 NUMBER OF NGVS AND FUELING STATIONS, TOP 10 COUNTRIES, 2018
                    TABLE 39 NUMBER OF FCEVS, BY MAJOR COUNTRY/REGION, 2019
                    FIGURE 29 DEMAND FOR FUEL TANKS TO BE HIGHEST IN APAC
                    TABLE 40 FUEL TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 41 FUEL TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
                    TABLE 42 FUEL TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                    TABLE 43 FUEL TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
    9.3 TRANSPORTATION TANK
           9.3.1 USE OF TYPE 3 AND TYPE 4 TANKS TO RESULT IN SIGNIFICANT WEIGHT REDUCTION OF TANKS
                    TABLE 44 TRANSPORTATION TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
                    TABLE 45 TRANSPORTATION TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2028 (THOUSAND UNITS)
                    TABLE 46 TRANSPORTATION TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                    TABLE 47 TRANSPORTATION TANK: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2028 (THOUSAND UNITS)

10 CNG, RNG, AND HYDROGEN TANKS MARKET, BY REGION (Page No. - 93)
     10.1 INTRODUCTION
               FIGURE 30 CHINA TO BE THE FASTEST-GROWING MARKET
               TABLE 48 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
               TABLE 49 CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY REGION, 2018–2025 (THOUSAND UNITS)
     10.2 NORTH AMERICA
               FIGURE 31 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SNAPSHOT
             10.2.1 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
                       TABLE 50 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 51 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
             10.2.2 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE
                       TABLE 52 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
                       TABLE 53 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
             10.2.3 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE
                       TABLE 54 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                       TABLE 55 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
             10.2.4 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
                       TABLE 56 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
                       TABLE 57 NORTH AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
             10.2.5 NORTH AMERICA: CNG TANKS MARKET, BY COUNTRY
                       TABLE 58 NORTH AMERICA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 59 NORTH AMERICA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
             10.2.6 NORTH AMERICA: RNG TANKS MARKET, BY COUNTRY
                       TABLE 60 NORTH AMERICA: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 61 NORTH AMERICA: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
                       10.2.6.1 US
                                   10.2.6.1.1 Presence of major CNG, RNG, and hydrogen tank manufacturers
                       10.2.6.2 Canada
                                   10.2.6.2.1 Increasing tax incentives for NGVs
     10.3 APAC
               FIGURE 32 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SNAPSHOT
             10.3.1 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
                       TABLE 62 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 63 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
             10.3.2 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE
                       TABLE 64 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
                       TABLE 65 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
             10.3.3 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE
                       TABLE 66 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                       TABLE 67 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
             10.3.4 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
                       TABLE 68 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
                       TABLE 69 APAC: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
             10.3.5 APAC: CNG TANKS MARKET, BY COUNTRY
                       TABLE 70 APAC: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 71 APAC: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
             10.3.6 APAC: RNG TANKS MARKET, BY COUNTRY
                       TABLE 72 APAC: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 73 APAC: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
                       10.3.6.1 China
                                   10.3.6.1.1 Automotive industry to support market growth
                       10.3.6.2 Pakistan
                                   10.3.6.2.1 Government initiatives to increase demand for natural gas
                       10.3.6.3 India
                                   10.3.6.3.1 Low running cost and eco-friendliness of CNG to drive the market
                       10.3.6.4 Thailand
                                   10.3.6.4.1 Growing focus on sporting goods industry to drive the market
                       10.3.6.5 Rest of APAC
     10.4 EUROPE
               FIGURE 33 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SNAPSHOT
             10.4.1 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
                       TABLE 74 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 75 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
             10.4.2 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE
                       TABLE 76 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
                       TABLE 77 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
             10.4.3 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE
                       TABLE 78 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                       TABLE 79 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
             10.4.4 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
                       TABLE 80 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
                       TABLE 81 EUROPE: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
             10.4.5 EUROPE: CNG TANKS MARKET, BY COUNTRY
                       TABLE 82 EUROPE: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 83 EUROPE: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
             10.4.6 EUROPE: RNG TANKS MARKET, BY COUNTRY
                       TABLE 84 EUROPE: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 85 EUROPE: RNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
                       10.4.6.1 Germany
                                   10.4.6.1.1 German government has made CNG prices competitive by lowering the tax rates
                       10.4.6.2 France
                                   10.4.6.2.1 Increased use of natural gas-driven fuel tanks application has increased the demand for CNG tanks
                       10.4.6.3 Italy
                                   10.4.6.3.1 Italy dominated the European CNG tanks market
                       10.4.6.4 Russia
                                   10.4.6.4.1 Highly focused on increasing the use of CNG tanks
                       10.4.6.5 Sweden
                                   10.4.6.5.1 Income tax reduction for the use of CNG vehicles
                       10.4.6.6 Ukraine
                                   10.4.6.6.1 Ukraine has the second position in the CNG tanks market
                       10.4.6.7 Armenia
                                   10.4.6.7.1 Armenia has the third position in the CNG tanks market
                       10.4.6.8 Bulgaria
                                   10.4.6.8.1 Increasing demand for CNG-driven vehicles
                       10.4.6.9 Switzerland
                                   10.4.6.9.1 Bi-fuel vehicles to generate the demand for CNG and RNG tanks in the country
            10.4.6.10 Austria
                     10.4.6.10.1 Initiative taken to promote CNG as fuel for commuting
            10.4.6.11 Netherlands
                     10.4.6.11.1 Increasing demand for clean fuel cars in the country
            10.4.6.12 Rest of Europe
     10.5 MIDDLE EAST & AFRICA (MEA)
             10.5.1 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
                       TABLE 86 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 87 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
             10.5.2 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE
                       TABLE 88 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
                       TABLE 89 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
             10.5.3 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE
                       TABLE 90 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                       TABLE 91 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
             10.5.4 MEA: CNG RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
                       TABLE 92 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
                       TABLE 93 MEA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
             10.5.5 MEA: CNG TANKS MARKET, BY COUNTRY
                       TABLE 94 MEA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 95 MEA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
                       10.5.5.1 Iran
                                   10.5.5.1.1 Five-year investment plan to promote use of NGVs
                       10.5.5.2 Uzbekistan
                                   10.5.5.2.1 Ranks eighth in the global NGVs market
                       10.5.5.3 Rest of MEA
     10.6 LATIN AMERICA
             10.6.1 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY APPLICATION
                       TABLE 96 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
                       TABLE 97 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY APPLICATION, 2018–2025 (THOUSAND UNITS)
             10.6.2 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY TANK TYPE
                       TABLE 98 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (USD MILLION)
                       TABLE 99 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY TANK TYPE, 2018–2025 (THOUSAND UNITS)
             10.6.3 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET, BY GAS TYPE
                       TABLE 100 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (USD MILLION)
                       TABLE 101 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY GAS TYPE, 2018–2025 (THOUSAND UNITS)
             10.6.4 LATIN AMERICA: CNG RNG, AND HYDROGEN TANKS MARKET, BY MATERIAL
                       TABLE 102 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (USD MILLION)
                       TABLE 103 LATIN AMERICA: CNG, RNG, AND HYDROGEN TANKS MARKET SIZE, BY MATERIAL, 2018–2025 (THOUSAND UNITS)
             10.6.5 LATIN AMERICA: CNG TANKS MARKET, BY COUNTRY
                       TABLE 104 LATIN AMERICA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
                       TABLE 105 LATIN AMERICA: CNG TANKS MARKET SIZE, BY COUNTRY, 2018–2025 (THOUSAND UNITS)
                       10.6.5.1 Brazil
                                   10.6.5.1.1 Government support for buying CNG conversion kits
                       10.6.5.2 Argentina
                                   10.6.5.2.1 Strengthening of refueling network
                       10.6.5.3 Rest of Latin America

11 COMPETITIVE LANDSCAPE (Page No. - 127)
     11.1 INTRODUCTION
               FIGURE 34 NEW PRODUCT LAUNCH/DEVELOPMENT AND ACQUISITION ARE KEY GROWTH STRATEGIES ADOPTED BETWEEN 2015 AND 2020
     11.2 COMPETITIVE LEADERSHIP MAPPING
             11.2.1 VISIONARY LEADERS
             11.2.2 DYNAMIC DIFFERENTIATORS
             11.2.3 EMERGING COMPANIES
             11.2.4 INNOVATORS
                       FIGURE 35 CNG, RNG, AND HYDROGEN TANKS MARKET: COMPETITIVE LEADERSHIP MAPPING, 2019
     11.3 STRENGTH OF PRODUCT PORTFOLIO
               FIGURE 36 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN CNG, RNG, AND HYDROGEN TANKS MARKET
     11.4 BUSINESS STRATEGY EXCELLENCE
               FIGURE 37 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN CNG, RNG, AND HYDROGEN TANKS MARKET
     11.5 MARKET REVENUE ANALYSIS OF TOP PLAYERS
               FIGURE 38 REVENUE SHARE ANALYSIS OF THE PLAYERS, 2019
     11.6 COMPETITIVE SCENARIO
             11.6.1 NEW PRODUCT LAUNCH/NEW PRODUCT DEVELOPMENT
                       TABLE 106 NEW PRODUCT LAUNCHES/NEW PRODUCT DEVELOPMENTS, 2015–2020
             11.6.2 ACQUISITION
                       TABLE 107 ACQUISITIONS, 2015-2020
             11.6.3 AGREEMENT/CONTRACT
                       TABLE 108 AGREEMENTS/CONTRACTS, 2015-2020
             11.6.4 EXPANSION
                       TABLE 109 EXPANSION, 2015-2020

12 COMPANY PROFILES (Page No. - 135)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
     12.1 WORTHINGTON INDUSTRIES, INC.
               FIGURE 39 WORTHINGTON INDUSTRIES, INC.: COMPANY SNAPSHOT
               FIGURE 40 WORTHINGTON INDUSTRIES, INC.: SWOT ANALYSIS
     12.2 LUXFER GROUP
               FIGURE 41 LUXFER GROUP: COMPANY SNAPSHOT
               FIGURE 42 LUXFER GROUP: SWOT ANALYSIS
     12.3 HEXAGON COMPOSITES ASA
               FIGURE 43 HEXAGON COMPOSITES ASA: COMPANY SNAPSHOT
               FIGURE 44 HEXAGON COMPOSITES ASA: SWOT ANALYSIS
     12.4 QUANTUM FUEL SYSTEMS LLC.
               FIGURE 45 QUANTUM FUEL SYSTEMS LLC.: SWOT ANALYSIS
     12.5 EVEREST KANTO CYLINDERS LTD.
               FIGURE 46 EVEREST KANTO CYLINDERS LTD.: COMPANY SNAPSHOT
               FIGURE 47 EVEREST KANTO CYLINDERS LTD.: SWOT ANALYSIS
     12.6 PRAXAIR TECHNOLOGIES INC.
     12.7 AVANCO GROUP
     12.8 BEIJING TIANHAI INDUSTRY CO. LTD.
     12.9 LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES GROUP CO. LTD.
     12.10 FABER INDUSTRIE SPA
     12.11 OTHER COMPANIES
               12.11.1 ULLIT SA
               12.11.2 AGILITY FUEL SOLUTIONS
               12.11.3 RAMA CYLINDERS PRIVATE LIMITED
               12.11.4 JPM GROUP
               12.11.5 SAHUWALA CYLINDERS LTD
               12.11.6 EURO INDIA CYLINDERS LTD
               12.11.7 CEVOTEC GMBH
               12.11.8 NPROXX
               12.11.9 STEELHEAD COMPOSITES, INC.
               12.11.10 JIANGSU QIULIN SPECIAL ENERGY EQUIPMENT JOINT STOCK LIMITED COMPANY

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.

13 APPENDIX (Page No. - 160)
     13.1 DISCUSSION GUIDE
     13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.3 AVAILABLE CUSTOMIZATIONS
     13.4 RELATED REPORTS
     13.5 AUTHOR DETAILS

The study involved two major activities in estimating the current size of the CNG, RNG, and hydrogen tanks market. Exhaustive secondary research was performed to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Factiva, were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The CNG, RNG, and hydrogen tanks market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is primarily characterized by the development of the consumer electronics, automotive & transportation, medical & healthcare, and other end-use industries. Advancements in technology and diverse applications in various end-use industries describe the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

CNG, RNG, and Hydrogen Tanks Market Size, and Share

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total size of the CNG, RNG, and hydrogen tanks market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall CNG, RNG, and hydrogen tanks market size, using the market size estimation processes explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the fuel tank, and transportation tank applications.

Report Objectives

  • To define, describe, and forecast the size of the CNG, RNG, and hydrogen tanks market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market based on gas type, material type, tank type, and application
  • To analyze and project the market based on five regions, namely, Europe, North America, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
  • To strategically analyze the micromarkets concerning individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies

Available Customizations

MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of APAC CNG, RNG, and hydrogen tanks market
  • Further breakdown of Rest of Europe CNG, RNG, and hydrogen tanks market
  • Further breakdown of Rest of MEA CNG, RNG, and hydrogen tanks market
  • Further breakdown of Rest of Latin American CNG, RNG, and hydrogen tanks market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
COVID-19

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Benchmarking the rapid strategy shifts of the Top 100 companies in the CNG, RNG, and Hydrogen Tanks Market

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