CNG Tank Market - Top Companies and Manufacturers

  • Report ID: 3171
  • Published Date: Jun 28, 2024
  • Report Format: PDF, PPT

Companies Dominating the CNG Tank Market

top-features-companies
    • Luxfer Holdings PLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Worthington Industries, Inc.
    • Quantum Fuel Systems LLC
    • Hexagon Composites ASA
    • Xinyi Beijing Tianhai Industry Co. Ltd.
    • Praxair Technologies Inc.
    • Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
    • Avanco Group
    • Everest Kanto Cylinders Ltd.
    • Faber Industrie SpA

Browse Key Market Insights with Data Illustration:

In the News

  • Luxfer Holdings announced that it has acquired the “Structural Composites Industries” business of Worthington Industries in a deal worth USD 20 million. The aim of this acquisition enhances Luxfer's composite cylinder options and is in line with recent investments made to develop alternative fuel capabilities to take advantage of the expanding potential for compressed natural gas (CNG) and hydrogen.
  • Quantum Fuel Systems LLC, a fully integrated alternative energy company, in partnership with Permian Global, Inc. d/b/a CORE Automatic Fueling Solutions (CORE) delivered six of the industry-leading virtual pipeline trailers for natural gas.

 


Author Credits:  Dhruv Bhatia


  • Report ID: 3171
  • Published Date: Jun 28, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of compressed natural gas tank is evaluated at USD 11.78 Billion.

The compressed natural gas (CNG) tank market size was valued at USD 10.89 Billion in 2023 and is set to cross USD 32.99 Billion by 2036, registering more than 8.9% CAGR during the forecast period i.e., between 2024-2036. Rising demand for clean fuel on a global level and the strict government guidelines for pollution are the major factors driving the growth of the market.

Asia Pacific is predicted to account for the largest share of 32% by 2036, impelled by high usage of CNG vehicles, along with growing sale of light-duty & commercial vehicles in this region.

Luxfer Holdings PLC, Worthington Industries, Inc., Quantum Fuel Systems LLC, Hexagon Composites ASA, Xinyi Beijing Tianhai Industry Co. Ltd., Praxair Technologies Inc., Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Avanco Group, Everest Kanto Cylinders Ltd., Faber Industrie SpA
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