Global Composite Cylinders Market is expected to reach USD 940 million by 2025, from USD 690 million by 2020 and 6.4% by CAGR between 2020 and 2025

Published Date: Jan, 2021

The report "Composite Cylinders Market by Tank Type (Type I, Type II, Type III, Type IV), By Outer Casing Material (Glass Fibers, Carbon Fibers, High Density Polyethylene, Others), By End Use Industry (Hotels & Restaurants, Household Purpose, Industrial Fuel, Industrial Process, Automotive) - Global Forecast to 2025", market USD 940 million by 2025, from USD 690 million by 2020 and 6.4% by CAGR between 2020 and 2025. Rising demand for gas would drive market growth in emerging economies mainly India and China. The increased use of natural gas as the key source of fuel between different sectors, including manufacturing and construction plants, would further improve the market outlook. Emerging concern about the inventory expense of storing traditional steel cylinders is propelling the size of the composite cylinders industry. Colored outer shell and bar codes are provided for easy monitoring and handling of the devices. It also consists of integrated chips that provide details on the product age. Increasing energy requirements, along with restricted pipeline deployment due to the diversity of the ground and the complexity of the way, drive growth in the demand for composite cylinders.

Browse 53 market data Tables and 35 Figures spread through 165 Pages and in-depth TOC on "Composite Cylinders Market by Tank Type (Type I, Type II, Type III, Type IV), By Outer Casing Material (Glass Fibers, Carbon Fibers, High Density Polyethylene, Others), By End Use Industry (Hotels & Restaurants, Household Purpose, Industrial Fuel, Industrial Process, Automotive) - Global Forecast to 2025"

The global composite cylinder market will be powered by an expansion in the household segment. Composite cylinder is commonly used in homes and hotels for cooking purposes. They are commonly used in hospitals, naval, chemical and spacecraft as oxygen cylinders. Oxygen, nitrogen, and hydrogen cylinders are also used in the chemical industry in reactions of chemical processing. CNG cylinders are widely used as fuel for automobiles in the automotive industry. Composite cylinders are commonly used for scuba diving because they are lighter in weight.

Global Composite Cylinders Market Segmentation Analysis

Segment

Categorization

Leading Category

Tank Type

Type I, Type II, Type III, Type IV

XXX (Largest)

Outer Casing Material

Glass Fibers, Carbon Fibers, High Density Polyethylene, Others

High Density Polyethylene (Largest)

End Use Industry

Hotels & Restaurants, Household Purpose, Industrial Fuel, Industrial Process, Automotive

XXX (Largest)

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Largest)

Discover More About This Report, Download A Free Sample Copy

Asia Pacific is one of Composite Cylinder's fastest-growing markets by area. An increasing chemical and packaging industry in different developing and developed countries is likely to boost demand for composite cylinders. Other driving forces in the Asia Pacific world of composite cylinders include a greater understanding of composite cylinders and a rapid industrialization in developing economies. Moreover, North America is estimated to have a significant share of the world market for composite cylinders because of its high per-capita consumption of goods.

Some of the major players operating in the global composite cylinders market include Luxfer Gas Cylinders, AMS Composite Cylinders, Hexagon Composites ASA, FABER INDUSTRIES S.P.A, Dragerwerk, Worthington Cylinders, Sinoma, Quantum Technologies, Aburi Composites, and HITACHI.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2025

Historical Period

2015–2019

Base Year

2019

Forecast Period

2020–2025

Segments Covered in the Study

Tank Type, Outer Casing Material, End Use Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Luxfer Gas Cylinders, AMS Composite Cylinders, Hexagon Composites ASA, FABER INDUSTRIES S.P.A, Dragerwerk, Worthington Cylinders, Sinoma, Quantum Technologies, Aburi Composites, and HITACHI

Global Composite Cylinders Market Coverage

Tank Type Insight and Forecast 2015-2025

  • Type I
  • Type II
  • Type III
  • Type IV

Outer Casing Material Insight and Forecast 2015-2025

  • Glass Fibers
  • Carbon Fibers
  • High Density Polyethylene
  • Others (medical, aerospace, marine and defense)

End Use Industry Insight and Forecast 2015-2025

  • Household Purpose
  • Hotels and Restaurants
  • Industrial Fuel
  • Industrial Process
  • Automotive

Geographical Segmentation

Composite Cylinders Market by Region

North America

  • By Tank Type
  • By Outer Casing Material
  • By End Use Industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Tank Type
  • By Outer Casing Material
  • By End Use Industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Tank Type
  • By Outer Casing Material
  • By End Use Industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Tank Type
  • By Outer Casing Material
  • By End Use Industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Composite Cylinders Market is expected to reach USD 940 million by 2025, from USD 690 million by 2020 and 6.4% by CAGR between 2020 and 2025