$968 Million Growth Opportunities in the Global Composite Cylinder Market, 2017-2022 - Research and Markets
Research and Markets has announced the addition of the "Growth
Opportunities in the Global Composite Cylinder Market" report
to their offering.
The global composite cylinder market is expected to reach an estimated
$968 million by 2022 and it is forecast to grow at a CAGR of 7.2% from
2017 to 2022.
The future of global composite cylinder market looks promising with
opportunities in gas carriers & storage, transportation, life support,
and recreation industries. The major drivers for market growth are
increasing number of natural gas vehicles (NGVs) and growing demand for
lightweight cylinders with higher pressure requirement and greater gas
carrying capacity per cylinder.
Emerging trends which have a direct impact on the dynamics of the
industry include the increase in green fleet and development of type V
tanks.
Within the global composite cylinder market, the transportation segment
is expected to remain the largest market by value. Expected growth in
the alternative fuel vehicles and increasing requirement of weight
reduction with higher gas carrying capacity are the major driving forces
that spur growth for this segment over the forecast period.
Europe is expected to remain the largest market for composite cylinder
due to the higher acceptance level and increasing use of lightweight
cylinders.
Composite cylinder companies profiled in this market report include
Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies,
Worthington Cylinders, Time Technoplast, Faber Industries S.p.A.,
Beijing Tianhai Industry Co., and Ullit are among the major suppliers of
composite cylinders.
Scope of the Report
Composite cylinder market by end use Industry [Volume (Thousand Units)
and Value ($ Million) from 2011 to 2022]:
- Gas Carriers and Storage
- Transportation
- Life Support
- Recreation and Others
Composite cylinder market by tank type [Volume (Thousand Units) and
Value ($ Million) from 2011 to 2022]:
- Type II
- Type III
- Type IV
Composite consumption by fiber type [Volume (Million lbs) and Value ($
Million) from 2011 to 2022]:
- Glass Fiber Composites
- Carbon Fiber Composites
- Aramid Fiber Composites
Composite cylinder market by region [Volume (Thousand Units) and Value
($ Million) from 2011 to 2022]:
- North America
- Europe
- Rest of the World
Companies Mentioned
-
Beijing Tianhai Industry Co.
-
Drägerwerk AG & Co. KGaA
-
Faber Industrie S.p.A.
-
Hexagon Composites ASA
-
Luxfer Gas Cylinder
-
Quantum Technologies
-
Time Technoplast
-
Ullit
-
Worthington Cylinders
For more information about this report visit http://www.researchandmarkets.com/research/5b4g9q/growth
View source version on businesswire.com: http://www.businesswire.com/news/home/20170331005481/en/
Copyright Business Wire 2017
Source: Business Wire
(March 31, 2017 - 10:25 AM EDT)
News by QuoteMedia
www.quotemedia.com