Automotive Compressed Natural Gas Cylinders Market
Automotive Compressed Natural Gas Cylinders
Market Scope: Industry Analysis, Market Size, Growth, Trends Till 2031
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Automotive Compressed Natural Gas Cylinders Market Size and Growth
The Automotive Compressed Natural Gas Cylinders market is witnessing significant growth, driven by increasing environmental concerns and regulatory support for cleaner fuels. The global market size is estimated to reach USD 2.5 billion by 2027, reflecting a robust CAGR. Enhanced safety standards and technological advancements further propel market expansion.
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Companies Covered
(Covid 19 Impact Covered)
◍ Worthington Industries
◍ Hexagon
◍ Avanco
◍ Faber
◍ Ulit
◍ Beijing Tianhai Industry
◍ EKC
The Automotive Compressed Natural Gas Cylinders Market includes key players like Worthington Industries, Hexagon, Avanco, Faber, Ulit, Beijing Tianhai Industry, and EKC. These companies manufacture innovative, lightweight, and durable cylinders, enhancing vehicle performance and safety, thereby driving market growth and increasing adoption of CNG vehicles.
- Worthington Industries: $3.09 billion (2022)
- Hexagon: $673 million (2022)
- Faber: $243 million (2022)
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Market Segmentation
By Application
Cars
SUV
Pickup Trucks
Commercial Vehicle
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By Product
Steel
Aluminum Alloy
Composite Materials
Market Growth
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$ X Billion USD
