Compressed Natural Gas (CNG) Tank Market Size & Share, by Material Type (Glass Fiber, Carbon Fiber, Metal); Vehicle (Light, Medium, Heavy-Duty Vehicle); Tank Type (Type 1, Type 2, Type 3, Type 4) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 3171
  • Published Date: Jul 27, 2023
  • Report Format: PDF, PPT

Companies Dominating the CNG Tank Market

    • 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:  Payel Roy, Dhruv Bhatia

  • Report ID: 3171
  • Published Date: Jul 27, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

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.

The market size of the Compressed Natural Gas (CNG) Tank is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2023 – 2035.

The major players in the market are Luxfer Holdings PLC, Worthington Industries, Inc., Quantum Fuel Systems LLC, Hexagon Composites ASA, Xinyi Beijing Tianhai Industry Co. Ltd., and others.

The type 1 segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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