Growth Opportunities in the Global CNG Tank Market
NEW YORK, Nov. 10, 2020 /PRNewswire/ -- Trends, opportunities and forecast in this market to 2025 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)
Read the full report: https://www.reportlinker.com/p05983519/?utm_source=PRN
The future of the prepreg market looks attractive with opportunities in the commercial aerospace, military/defense, general aviation, space/satellite, sporting goods, marine, wind energy, automotive, and civil engineering industries. The global prepreg market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $5.1 billion by 2025 with a CAGR of 0.5% to 2.5% from 2020 to 2025. The major drivers for market growth are growing demand for advanced high performance and lightweight composite materials and increasing performance requirements in the end use industries.
The growing use of high performance composite materials in the end use industries is likely to drive the consumption of epoxy based prepreg over the forecast period. By manufacturing technology, hot melt is expected to remain the largest segment over the forecast period.
In this market, commercial aerospace is the largest segment by end use, whereas carbon fiber prepreg is largest segment by fiber type. Growth in various segments of the global prepreg market are given below:
Global Prepreg Market by Segments
The study includes the market size and forecast for the global prepreg market through 2025, segmented by end use industry, weave type, manufacturing technology, type of prepreg, reinforcement, resin, and region as follows:
Prepreg Market by End Use Industry [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
• Commercial Aerospace
• Military/Defense
• General Aviation
• Space/Satellite
• Sporting Goods
• Marine
• Wind Energy
• Automotive
• Civil Engineering
• Others
Prepreg Market by Type of Prepreg [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
• Thermoset Prepreg
• Thermoplastic Prepreg
Prepreg Market by Resin [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
• Epoxy
• BMI
• Phenolic
• Cynate Ester
• Thermoplastics
Prepreg Market by Fiber [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
• Carbon fiber
• Glass fiber
• Aramid fiber
Prepreg Market by Weave Type [Volume (M lbs) shipment analysis for 2014 – 2025]:
• UD prepreg
• Fabric prepreg
Prepreg Market by Manufacturing Technology [Volume (M lbs) shipment analysis for 2014 – 2025]:
• Solvent dip
• Hot melt
Prepreg Market by Region [Volume (M lbs) and $M shipment analysis for 2014 – 2025]:
• North America
• Europe
• Asia Pacific
• Rest of the World
Some of the prepreg companies in this report include Hexcel, Cytec Solvay Group, Toray, TenCate, Gurit, Mitsubishi Rayon Corporation and others.
The analyst forecasts that the commercial aerospace is expected to remain the largest segment by value and wind energy by volume. Commercial aerospace is expected to witness the highest growth in the forecast period supported by the growth in the development and production of advanced aircraft models and increasing use of lightweight high-performance composites in new aircraft programs, such as Boeing 787, Airbus A350.
By resin type, thermoset prepreg is expected to remain the largest segment due to its demand in wind turbine blades and aerospace components.
North America is expected to remain the largest market by value and volume. Rest of the World is expected to witness the highest growth over the forecast period because of growth in the demand for aerospace and wind energy industries.
Some of the features of "Prepreg Market Report: Trends, Forecast and Competitive Analysis" include:
Market size estimates: Global prepreg market size estimation in terms of value ($M) and volume (M Lbs.) shipment.
• Trend and forecast analysis: Market trend (2014-2019) and forecast (2020-2025) by segments and region.
• Segmentation analysis: Global prepreg market size by various applications such as end use industry, weave type, manufacturing technology, type of prepreg, reinforcement, and resin in terms of value and volume shipment.
• Regional analysis: Global prepreg market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth opportunities: Analysis on growth opportunities in different applications and regions of prepreg in the global prepreg market.
• Strategic analysis: This includes M&A, new product development, and competitive landscape of prepreg in the global prepreg market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global prepreg market by manufacturing technology (solvent dip, hot melt), weave type (UD prepreg, fabric prepreg), resin (epoxy, BMI, phenolic, cynate ester, thermoplastics) fiber(carbon fiber, glass fiber, aramid fiber) end use industry (commercial aerospace, military/defense, general aviation, space/satellite, Sporting goods, marine, wind energy, automotive, civil engineering, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the prepreg market?
Q.5 What are the business risks and threats to the prepreg market?
Q.6 What are emerging trends in this prepreg market and the reasons behind them?
Q.7 What are some changing demands of customers in the prepreg market?
Q.8 What are the new developments in the prepreg market? Which companies are leading these developments?
Q.9 Who are the major players in this prepreg market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this prepreg area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this prepreg market?
Report Scope
Key Features Description
Base Year for Estimation 2019
Trend Period
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Pages 226
Market Representation / Units Revenue in US $ Billion and Volume in M Ibs
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By manufacturing technology (solvent dip, hot melt), By weave type (UD prepreg, fabric prepreg), By resin (epoxy, BMI, phenolic, cynate ester, thermoplastics) By fiber(carbon fiber, glass fiber, aramid fiber) By end use industry (commercial aerospace, military/defense, general aviation, space/satellite, Sporting goods, marine, wind energy, automotive, civil engineering, and others)
Regional Scope North America, Europe, Asia Pacific, and RoW
Customization 10% Customization Without any Additional Cost
The global CNG tank market looks attractive with opportunities in automotive and bulk transportation applications. The global CNG tank market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $1.0 billion by 2025 with a CAGR of 1% to 2% from 2020 to 2025. The major drivers for market growth are increasing number of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel.
Emerging trends, which have a direct impact on the dynamics of the industry, include the increase in green fleet and development of type V tanks.
In this market, automotive is the largest application of global CNG tank, whereas metal is largest in material type. Growth in various segments of the CNG tank market are given below:
CNG Tank Market by Segments
The study includes the CNG tank market size and forecast for the global CNG tank market through 2025 by application, tank type, material consumption, and region as follows:
CNG Tank Market by Application [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• Automotive
• Bulk Transportation
CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• Type I
• Type II
• Type III
• Type IV
CNG Tank Market by Material Market [Volume (Million lbs) and Value ($ Million) from 2014 to 2025]:
• Metal
• Glass Fiber Composite
• Carbon Fiber Composite
• Metal
CNG Tank Market by Region [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• North America
• Europe
• Asia Pacific
• Rest of the World
Automotive CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• Type I
• Type II
• Type III
• Type IV
Automotive CNG Tank Market by Vehicle Type [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• Light Duty Vehicle
• Heavy Duty Vehicle (bus, trucks, etc.)
Bulk Transportation CNG Tank Market by Tank Type [Volume (Thousand Units) and Value ($ Million) from 2014 to 2025]:
• 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, The analyst 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 this report:
• 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 (2014-2019) and forecast (2020-2025) 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?
Q.11. What M&A activity has occurred in CNG tank market in the last 5 years?
Report Scope
Key Features Description
Base Year for Estimation 2019
Trend Period
(Actual Estimates) 2014-2019
Forecast Period 2020-2025
Pages 136
Market Representation / Units Revenue in US $ Billion and Volume in Million Units
Report Coverage Market Trends & Forecasts, Competitor Analysis, New Product Development, Company Expansion, Merger Acquisitions & Joint Venture, and Company Profiling
Market Segments By application (automotive and bulk transportation), By tank type (Type I, Type II, Type III, Type IV), and By material consumption (metal, glass fiber composites, and carbon fiber composites)
Regional Scope North America, Europe, Asia Pacific, and RoW
Customization 10% Customization Without any Additional Cost
Read the full report: https://www.reportlinker.com/p05983519/?utm_source=PRN
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