CNG Tank (CNG Cylinder) Market
CNG Tank (CNG Cylinder) Market Scope: Industry
Analysis, Market Size, Growth, Trends Till 2031
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CNG Tank (CNG Cylinder) Market Size and Growth
The CNG tank market is experiencing robust growth, driven by rising demand for clean fuel and stringent environmental regulations. The global market size is projected to reach approximately $2 billion by 2026, exhibiting a compound annual growth rate (CAGR) of over 6% as industries adopt CNG technology for sustainable transportation.
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Companies Covered
(Covid 19 Impact Covered)
◍ Sinomatech
◍ Everest Kanto Cylinders
◍ Worthington Industries
◍ Luxfer Group
◍ Hexagon Composites
◍ Beijing Tianhai Industry
◍ Rama Cylinders
◍ Quantum Technologies
◍ Faber Industrie
◍ Praxair Technologies
◍ CIMC ENRIC
◍ Lianzhong Composites
◍ Avanco Group
◍ Ullit
The CNG tank market features key players like Everest Kanto, Luxfer, and Hexagon Composites. They innovate in lightweight materials, expanding applications across transportation and industry, enhancing safety, and efficiency. Revenue highlights include:
- Worthington: $1.3 billion
- Luxfer: $450 million
- Hexagon: $470 million
These efforts stimulate market growth. Request Sample Report
Market Segmentation
By Application
Passenger Vehicles
Commercial Vehicles
Others
By Product
◍ Type 1 CNG Tank ◍ Type 2 CNG Tank ◍ Type 3 CNG Tank ◍ Type 4 CNG Tank
Others
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Market Growth
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$ X Billion USD
