Type 4 cylinders offer the lightest weight per unit volume of any CNG cylinder. Weighing only 30% of the weight of steel cylinders, they improve vehicle range, payload, handling, and fuel efficiency.
Market Analysis and Insights: Global Type 4 CNG Cylinders Market
Due to the COVID-19 pandemic, the global Type 4 CNG Cylinders market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the forecast period 2022-2028. Fully considering the economic change by this health crisis, 100L Below accounting for % of the Type 4 CNG Cylinders global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Commercial Vehicles segment is altered to an % CAGR throughout this forecast period.
North America Type 4 CNG Cylinders market is estimated at US$ million in 2021, while Europe is forecast to reach US$ million by 2028. The proportion of the North America is % in 2021, while Europe percentage is %, and it is predicted that Europe share will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. As for the Asia, the notable markets are Japan and South Korea, CAGR is % and % respectively for the next 6-year period.
The global major manufacturers of Type 4 CNG Cylinders include Time Technoplast, SANTEKSANTEK, EKC, Hanwha Group, Hexagon, Quantum Fuel Systems, Worthington Industries, Luxfer and ECS COMPOSITE, etc. In terms of revenue, the global 3 largest players have a % market share of Type 4 CNG Cylinders in 2021.
Global Type 4 CNG Cylinders Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Type 4 CNG Cylinders Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
100L Below
100-500L
500-1000L
1000L Above
Segment by Application
Commercial Vehicles
Passenger Car
By Company
Time Technoplast
SANTEKSANTEK
EKC
Hanwha Group
Hexagon
Quantum Fuel Systems
Worthington Industries
Luxfer
ECS COMPOSITE
Steelhead Composites
Sotay
NPROXX
ILJIN Composites
CP Industries
Aburi Composites
Indoruss Synergy
SUPREME INDUSTRIES
Faurecia
Production by Region
North America
Europe
China
Japan
South Korea
India
Consumption by Region
North America
United States
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America
Mexico
Brazil
Argentina
Colombia