NEW YORK, July 17, 2017 /PRNewswire/ -- 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 $1.3 billion by 2022 and grow at a CAGR of 5.1% from 2017 to 2022. The major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.
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Emerging trends, which have a direct impact on the dynamics of the industry, include the increase in green fleet and development of type V tanks.
A total of 95 figures / charts and 68 tables are provided in this 136-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this CNG tank industry report, download the report brochure.
The study includes the CNG tank market size and forecast for the global CNG tank market through 2022 by application, tank type, material consumption, and region as follows:
CNG Tank Market by Application [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
Automotive Bulk Transportation
CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
Type I Type II Type III Type IV
CNG Tank Market by Material Market [Volume (Million lbs) and Value ($ Million) from 2011 to 2022]:
Metal Glass Fiber Composite Carbon Fiber Composite Metal
CNG Tank Market by Region [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
North America Europe Asia Pacific Rest of the World
Automotive CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
Type I Type II Type III Type IV
Automotive CNG Tank Market by Vehicle Type [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
Light Duty Vehicle Heavy Duty Vehicle (bus, trucks, etc.)
Bulk Transportation CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2011 to 2022]:
Type I Type II Type III Type IV
CNG tank companies profiled in this market include Hexagon Composites ASA, Luxfer Gas Cylinder, Worthington Cylinders, Faber Industries S.p.A., and Everest Kanto Cylinder Ltd. are among the major suppliers of CNG tanks.
On the basis of comprehensive research, Lucintel forecasts that the bulk transportation segment will show above average growth during the forecast period. Within the global CNG tank market, the automotive segment is expected to remain the largest market by value and volume. 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.
By type of tank, type I CNG tank is expected to be the largest segment due to its lower cost and higher demand from countries in the APAC and ROW regions which have large NGV fleet.
APAC is expected to remain the largest region over the forecast period. This region is expected to witness the highest growth for CNG tanks due to the growing fleet of alternative fuel powered vehicles, as well as increasing number of CNG refueling stations.
Some of the features of "Growth Opportunities in the Global CNG Tank Market 2017- 2022: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Global CNG tank market size estimation in terms of value ($M) and volume (thousand units) shipment.Trend and forecast analysis: Market trend (2011-2016) and forecast (2017-2022) by segments and region.Segmentation analysis: Global CNG tank market size by various applications such as application type, tank type, material consumption type and vehicle in terms of value and volume shipment.Regional analysis: Global CNG tank market breakdown by key regions such as North America, Europe, and Asia & Rest of World.Growth opportunities: Analysis on growth opportunities in different applications and regions of global CNG tank market.Strategic analysis: This includes M&A, new product development, and competitive landscape of global CNG tank market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report addresses the following 11 questions:
Q.1. What are some of the most promising, high-growth opportunities for global CNG tank market by application (automotive and bulk transportation), tank type (Type I, Type II, Type III, Type IV), material consumption (metal, glass fiber composites, and carbon fiber composites ), and region (North America, Europe, Asia Pacific and the Rest of the World (ROW)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting the market dynamics? What are the drivers, challenges, and business risks in this CNG tank market?
Q.5. What are the business risks and competitive threats in this CNG tank market?
Q.6. What are the emerging trends in this CNG tank market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the CNG tank market?
Q.8. What are the new developments in the CNG tank market, and which companies are leading these developments?
Q.9. Who are the major players in this CNG tank market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this CNG tank market and how big of a threat do they pose for loss of market share by product substitution?
Read the full report: http://www.reportlinker.com/p05001495/Growth-Opportunities-in-the-Global-CNG-Tank-Market.html
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