Compressed
Natural Gas (CNG) Cylinders stores the CNG. It is safest aspects of using CNG
as an alternative fuel made with shape of cylindrical shape by a semi-spherical
shape covering each end and provides the strongest structural shape.
According
to study, “Global
Compressed Natural Gas (CNG) Cylinders Market 2019 by Manufacturers, Regions,
Type and Application, Forecast to 2024” some of the major companies
that are currently working in the global Compressed Natural Gas (CNG) cylinders
market are Sinomatech, Worthington Industries, Lianyungang Zhongfu Lianzhong
Composites Group Co. Ltd., Praxair Technologies Inc., Everest Kanto Cylinders
Ltd., Luxfer Group, Avanco Group, Beijing Tianhai Industry Co. Ltd., Hexagon
Composites ASA, Quantum Fuel Systems Technologies Worldwide Inc., Rama
Cylinders, CIMC ENRIC, Faber Industrie, S.P.A., Avanco Group.
Based
on type, global CNG cylinders market is segmented into type 1, type 2, type 3
and type 4. Type is constructed from metals (aluminum & steel). Type 2 is
constructed from metal liner reinforced by composite wrap (carbon or glass
fiber) around middle (hoop wrapped). Type 3 is constructed frommetal liner
reinforced by composite wrap around entire tank (full wrapped). Type 4 is
constructed from Plastic gas-tight liner reinforced bycomposite wrap around
entire tank (full wrapped). Based on material, market is split into composites
and steel. Composites include boss, resin, liner and fibers. Based on
structure, market is segmented into hemisphere end structure,concave-shape end
structure and dish-shape end structure. Based on vehicle type, market is
categorized into Heavy duty vehicles (HDVs), Medium duty vehicles (MDVs) and
Light duty vehicles (LDVs). HDV is used owing to affordability and
eco-friendliness. Based on testing, market is segmented into low temperature
pressure cycling, environmental exposure test, hydraulic crush test, damage tolerance/gunfire
test, bonfire test, hydraulic cycle pressure testing, drop impact testing and
vibration test. Based on source, market is split into Unconventional Sources
(CNG), associated gas and non-associated gas.
The
global CNG cylinders market is majorly driven by increase in use of natural gas
in the automotive industry, followed by increasing environmental awareness and
growing demand in Asia-Pacific. The market growth for storage &
transportation of CNG depends on government plans and initiatives switching
over to other fuel. Apart from the major benefits, few of the restraints include
refueling infrastructures for CNG and high cost of composite tanks
®ulatory approvals. In addition, emergence of lightweight composite CNG
cylinders is expected to add big opportunity to the market. However, market is
impacted by few issues which include increase in competition and uncertainty
related to oil prices.
The
global CNG cylinders market has registered a substantial augmentation and is
expected to witness a considerable increase in coming years due to increase
production & exploration of natural gas, increasing demand for natural gas
vehicles, and emergence of composite CNG cylinders. Asia-Pacific region is one
the leading consumer of CNG cylinders, followed by Europe, and North America
owing to increase in environmental concerns and high dependency on imported
fuel, majorly from emerging countries such as China, Pakistan and India. In
2019, the global CNG cylinders market in terms of value reached at US $730
million and it is estimated to reach at US $1080 million, by 2024.
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