Composites Cylinder Market Report: Trends, Forecast and Competitive Analysis

The future of the composites cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries.The composites cylinder market is expected to grow with a CAGR of 5.5% from 2019 to 2024. The major drivers for this market are increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder.

 

Emerging trend, which have direct impact on the dynamics of the composites cylinder industry, include development of type V tank, and increase in green fleet. 

 

A total of 61 figures / charts and 51 tables are provided in this 139 -page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of this composites cylinder market report download the report brochure.
 

 

The study includes the composites cylinder market size and forecast for the composites cylinder market through 2024, segmented by end use industry, tank type, composite demand by fiber type, and region as follows:

 

Composites Cylinder Market by End Use Industry [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]: 

Composites Cylinder Market by Tank Type [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]: 

Composites Cylinder Market by Region [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]: 

Composite by Fiber Type [Volume (Million lbs.) and Value ($ Million) from 2013 to 2024]:

Some of the composites cylinder companies profiled in this report include Hexagon Composites, Luxfer Gas Cylinder, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit and others. 

 

Lucintel forecasts that type III cylinders will remain the largest segment by value and Type IV by volume. The type IV cylinder segment is expected to witness the highest growth over the forecast period due to the growing demand for lightweight cylinders.

 

Within composites cylinder market, transportation will remain the largest end use industry by value and gas carrier & storage by volume. Transportation segment is also expected to witness highest growth over the forecast period due to the expected growth in the demand for bulk transportation cylinders and unavailability of proper gas pipeline infrastructure.

 

North America is expected to remain the largest market for composites cylinder due to the higher acceptance level and increasing use of lightweight cylinders. North America is also expected to witness the highest growth rate during the forecast period due to the anticipated growth in the production of alternative fuel powered vehicles, and growing use of mobile pipelines for transportation of gas.
 

 

Some of the features of this report:

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This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the composites cylinder market by end use industry (gas carriers and storage, transportation, life support, recreation and others), tank type (Type II, Type III, Type IV) composites demand by fiber (carbon composites, glass composites, aramid composites), and region (North America, Europe, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this composites cylinder market?
Q.5. What are the business risks and competitive threats in this composites cylinder market?
Q.6. What are the emerging trends in this composites cylinder market and reasons behind them?
Q.7. What are some of the changing demands of customers in the composites cylinder market?
Q.8. What are the new developments in the composites cylinder market and which companies are leading these developments?
Q.9. Who are the major players in this composites cylinder market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this composites cylinder market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last 5 years in the composites cylinder market?

 

 

1. Executive Summary
 

2. Market Background and Classifications

2.1: Introduction, Background, and Classifications

2.2: Supply Chain

2.3: Industry Drivers and Challenges

 

3. Market Trends and Forecast Analysis from 2019 to 2024

3.1: Macroeconomic Trends and Forecast

3.2: Global Composite Cylinder Market Trends and Forecast

3.3: Global Composite Cylinder Market by End Use Industry

3.3.1: Gas Carriers and Storage

3.3.2: Transportation

3.3.3: Life Support

3.3.4: Recreation and Others

3.4: Global Composite Cylinder Market by Tank Type

3.4.1: Type II

3.4.2: Type III

3.4.3: Type IV

3.5: Composite Demand in the Global Composite Cylinder Market by Fiber Type

3.5.1: Glass Fiber Composites

3.5.2: Carbon Fiber Composites

3.5.3: Aramid Fiber Composites

 

4. Market Trends and Forecast Analysis by Region

4.1: Global Composite Cylinder Market by Region

4.2: North American Composite Cylinder Market

4.3: European Composite Cylinder Market

4.4: Rest of the World Composite Cylinder Market

 

5. Competitor Analysis

5.1: Product Portfolio Analysis

5.2: Market Share Analysis

5.3: Operational Integration

5.4: Geographical Reach

5.5: Porter’s Five Forces Analysis

 

6. Growth Opportunities and Strategic Analysis

6.1: Growth Opportunity Analysis

6.1.1: Growth Opportunities for the Global Composite Cylinder Market by End Use Industry

6.1.2: Growth Opportunities for the Global Composite Cylinder Market by Tank Type

6.1.3: Growth Opportunities for Composite Consumption in the Global Composite Cylinder Market by Fiber Type

6.1.4: Growth Opportunities for the Global Composite Cylinder Market by Region

6.2: Emerging Trends in the Global Composite Cylinder Market

6.3: Strategic Analysis

6.3.1: New Product Development

6.3.2: Capacity Expansion of the Global Composite Cylinder Market

6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Composite Cylinder Market

6.3.4: Certification and Licensing

 

7. Company Profiles of Leading Players

7.1: Luxfer Gas Cylinder

7.2: Hexagon Composites ASA

7.3: Quantum Technologies

7.4: Worthington Cylinders

7.5: Drägerwerk AG & Co. KGaA

7.6: Time Technoplast

7.7: Faber Industrie S.p.A.

7.8: Beijing Tianhai Industry Co.

7.9: Ullit

 

 

 

List of Figures

 

Chapter 2. Market Background and Classifications

Figure 2.1: Schematic Representation of the Wet Filament Winding Process (Source: Etamax Engineering)

Figure 2.2: Filament Winding Process for Manufacturing CNG Cylinders (Source: VEM SpA)

Figure 2.3:  Supply Chain of Global Composite Cylinder Market

Figure 2.4: Drivers and Challenges of the Global Composite Cylinder Market

 

Chapter 3. Market Trends and Forecast Analysis from 2019 to 2024

Figure 3.1: Trends of the Global GDP Growth Rate

Figure 3.2: Trends of the Regional GDP Growth Rate

Figure 3.3:  Trends of the Global Natural Gas Vehicles (Million Units- Cumulative)

Figure 3.4: Trends of Price for Gasoline, Natural Gas and Crude Oil in US (2013-2018)

Figure 3.5: Forecast for the Global GDP Growth Rate

Figure 3.6:  Forecast for the Regional GDP Growth Rate

Figure 3.7: Trends and Forecast for the Global Composite Cylinder Market (2013-2024)

 Figure 3.8: Trends of the Global Composite Cylinder Market ($M) by End Use Industry (2013-2018)

Figure 3.9:  Forecast for the Global Composite Cylinder Market ($M) by End Use Industry (2019-2024)

Figure 3.10: Trends of the Global Composite Cylinder Market (Thousand Units) by End Use Industry (2013-2018)

Figure 3.11: Forecast for the Global Composite Cylinder Market (Thousand Units) by End Use Industry (2019-2024)

Figure 3.12: Trends and Forecast for the Global Composite Cylinder Market in Gas Carriers and Storage (2013-2024)

Figure 3.13: Trends and Forecast for the Global Composite Cylinder Market in Transportation (2013-2024)

Figure 3.14: Trends and Forecast for the Global Composite Cylinder Market in Life Support (2013-2024)

Figure 3.15: Trends and Forecast for the Global Composite Cylinder Market in Recreation and Others (2013-2024)

Figure 3.16:  Trends of the Global Composite Cylinder Market ($M) by Tank Type (2013-2018)

Figure 3.17: Forecast for the Global Composite Cylinder Market ($M) by Tank Type (2019 -2024)

Figure 3.18: Trends of the Global Composite Cylinder Market (Thousand Units) by Tank Type (2013-2018)

Figure 3.19: Forecast for the Global Composite Cylinder Market (Thousand Units) by Tank Type (2019- 2024)

Figure 3.20: Trends and Forecast for Type II Cylinder in the Global Composite Cylinder Market (2013-2024)

Figure 3.21: Trends and Forecast for Type III Tank Type in the Global Composite Cylinder Market (2013-2024)

Figure 3.22: Trends and Forecast for Type IV Cylinders in the Global Composite Cylinder Market (2013-2024)

Figure 3.23: Trends of the Composite Demand in the Global Composite Cylinder Market ($M) by Fiber Type (2013-2018)

Figure 3.24: Forecast for the Composite Consumption in the Global Composite Cylinder Market ($M) by Fiber Type (2019 -2024)

 Figure 3.25: Trends of the Composite Consumption in the Global Composite Cylinder Market (M lbs) by Fiber Type (2013-2018)

Figure 3.26: Forecast for the Composite Demand in the Global Composite Cylinder Market (M lbs) by Fiber Type (2019- 2024)

Figure 3.27: Trends and Forecast for Glass Fiber Composite Demand in the Global Composite Cylinder Market (2013-2024)

Figure 3.28: Trends and Forecast for Carbon Fiber Composite Demand in the Global Composite Cylinder Market (2013-2024)

Figure 3.29: Trends and Forecast for Aramid Fiber Composite Demand in the Global Composite Cylinder Market (2013-2024)

 

Chapter 4. Market Trends and Forecast Analysis by Region

Figure 4.1: Trends of the Global Composite Cylinder Market ($M) by Region (2013-2018)

Figure 4.2: Forecast for the Global Composite Cylinder Market ($M) by Region (2019-2024)

Figure 4.3: Trends of the Global Composite Cylinder Market (Thousand Units) by Region (2013-2018)

Figure 4.4: Forecast for the Global Composite Cylinder Market (Thousand Units) by Region (2019-2024)

Figure 4.5: Trends and Forecast of the North American Composite Cylinder Market (2013-2024)

Figure 4.6:  Trends and Forecast for the European Composite Cylinder Market (2013-2024)

Figure 4.7: Trends and Forecast for the ROW Composite Cylinder Market (2013-2024)

 

Chapter 5. Competitor Analysis

Figure 5.1: Market Share Analysis of the Global Composite Cylinder Market ($M) in 2018

Figure 5.2: Market Share of Top Five Player in the Global Composite Cylinder Market ($M) in 2018

Figure 5.3: Headquarter Locations of Key Manufacturers of the Composite Cylinder Market

Figure 5.4:  Porter’s Five Forces Model for Global Composite Cylinder Market

 

Chapter 6. Growth Opportunities and Strategic Analysis

Figure 6.1: Growth Opportunity for the Global Composite Cylinder Market by End Use Industry (2019-2024)

Figure 6.2: Growth Opportunity for the Global Composite Cylinder Market by Tank Type (2019- 2024)

Figure 6.3: Growth Opportunities for the Composite Consumption of the Global Composite Cylinder Market by Fiber Type (2019-2024)

Figure 6.4: Growth Opportunity for the Global Composite Cylinder Market by Region (2019-2024)

Figure 6.5: Emerging Trends in the Global Composite Cylinder Market

Figure 6.6: Coradia iLint (Source: Hexagon Composites)

Figure 6.7: Strategic Initiatives by Major Competitors in the Global Composite Cylinder Market

Figure 6.8: Expansions in the Global Composite Cylinder Market

 

Chapter 7. Company Profiles of Leading Players

Figure 7.1:  Major Plant Locations of Luxfer Gas Cylinders

Figure 7.2: Major Plant Locations of Hexagon Composites ASA

Figure 7.3: Headquarter Location of Quantum Technologies

Figure 7.4:  Major Plant Locations of Worthington Cylinders

Figure 7.5: Headquarter Location of Drägerwerk AG & Co. KGaA

Figure 7.6:  Major Plant Location of Time Technoplast

Figure 7.7: Headquarter Location of Faber Industries S.p.A

Figure 7.8: Major Plant Locations of Beijing Tianhai Industry Co. Composite Cylinder Business

Figure 7.9: Major Plant Location of Ullit Composite Cylinder Business

 

 

List of Tables

 

Chapter 1. Executive Summary

Table 1.1: Global Composite Cylinder Market Parameters and Attributes

 

Chapter 3. Market Trends and Forecast Analysis from 2019 to 2024

Table 3.1: Trends of the Global Composite Cylinder Market (2013-2018)

Table 3.2: Forecast for the Global Composite Cylinder Market (2019-2024)

Table 3.3: Market Size and CAGR of Various End Use Industries in the Global Composite Cylinder Market by Value (2013-2018)

Table 3.4: Market Size and CAGR of Various End Use Industries in the Global Composite Cylinder Market by Value (2019-2024)

Table 3.5: Market Size and CAGR of Various End Use Industries in the Global Composite Cylinder Market by Volume (2013-2018)

Table 3.6: Market Size and CAGR of Various End Use Industries in the Global Composite Cylinder Market by Volume (2019-2024)

Table 3.7:  Trends of the Global Composite Cylinder Market in Gas Carriers and Storage (2013-2018)

Table 3.8: Forecast for the Global Composite Cylinder Market in Gas Carriers and Storage (2019-2024)

Table 3.9: Trends of the Global Composite Cylinder Market in Transportation (2013-2018)

Table 3.10: Forecast for the Global Composite Cylinder Market in Transportation (2019-2024)

Table 3.11: Trends of the Global Composite Cylinder Market in Life Support (2013-2018)

Table 3.12: Forecast for the Global Composite Cylinder Market in Life Support (2019-2024)

Table 3.13: Trends of the Global Composite Cylinder Market in Recreation and Others (2013-2018)

Table 3.14: Forecast for the Global Composite Cylinder Market in Recreation and Others (2019-2024)

Table 3.15: Market Size and CAGR of Various Tank Types of the Global Composite Cylinder Market by Value (2013-2018)

Table 3.16: Market Size and CAGR of Various Tank Types of the Global Composite Cylinder Market by Value (2019-2024)

Table 3.17: Market Size and CAGR of Various Tank Types of the Global Composite Cylinder Market by Volume (2013-2018)

Table 3.18: Market Size and CAGR of Various Tank Types of the Global Composite Cylinder Market by Value (2019-2024)

Table 3.19: Trends of Type II Cylinders in the Global Composite Cylinder Market (2013-2018)

Table 3.20: Forecast for Type II Cylinders in the Global Composite Cylinder Market (2019-2024)

Table 3.21: Trends of Type III Cylinder in the Global Composite Cylinder Market (2013-2018)

Table 3.22: Forecast for Type III Cylinders in the Global Composite Cylinder Market (2019-2024)

Table 3.23: Trends of Type IV Cylinder in the Global Composite Cylinder Market (2013-2018)

Table 3.24: Forecast for Type IV Cylinders in the Global Composite Cylinder Market (2019-2024)

Table 3.25: Market Size and CAGR of Composite Demand ($M) by Various Fiber Types in the Global Composite Cylinder Market (2013-2018)

Table 3.26: Market Size and CAGR of Composite Demand ($M) by Various Fiber Types in the Global Composite Cylinder Market by Value (2019-2024)

Table 3.27: Market Size and CAGR of Composite Consumption (M lbs) by Various Fiber Types in the Global Composite Cylinder Market (2013-2018)

Table 3.28: Market Size and CAGR of Composite Consumption (M lbs) by Various Fiber Types in the Global Composite Cylinder Market by Value (2019-2024)

Table 3.29: Trends of Glass Fiber Composite Demand in the Global Composite Cylinder Market (2013-2018)

Table 3.30: Forecast for Glass Fiber Composite Demand in the Global Composite Cylinder Market (2019-2024)

Table 3.31: Trends of Carbon Fiber Composites Demand in the Global Composite Cylinder Market (2013-2018)

Table 3.32: Forecast for Carbon Fiber Composites Demand in the Global Composite Cylinder Market (2019-2024)

Table 3.33: Trends of Aramid Fiber Composite Demand in the Global Composite Cylinder Market (2013-2018)

Table 3.34: Forecast for Aramid Fiber Composite Demand in the Global Composite Cylinder Market (2019-2024)

 

Chapter 4. Market Trends and Forecast Analysis by Region

Table 4.1: Trends of the Global Composite Cylinder Market ($M) by Region (2013-2018)

Table 4.2: Forecast for the Global Composite Cylinder Market ($M) by Region (2019-2024)

Table 4.3: Trends of the Global Composite Cylinder Market (Thousand Units) by Region (2013-2018)

Table 4.4: Forecast for the Global Composite Cylinder Market (Thousand Units) by Region (2019-2024)

Table 4.5: Trends of the North American Composite Cylinder Market (2013-2018)

Table 4.6: Forecast for the North American Composite Cylinder Market (2019-2024)

Table 4.7: Trends of the European Composite Cylinder Market (2013-2018)

Table 4.8: Forecast for the European Composite Cylinder Market (2019-2024)

Table 4.9: Trends of the ROW Composite Cylinder Market (2013-2018)

Table 4.10: Forecast for the ROW Composite Cylinder Market (2019-2024)

 

Chapter 5. Competitor Analysis

Table 5.1: Market Presence of Major Composite Cylinder Players by End Use Industry

Table 5.2: Product Mapping of Composite Cylinder Manufacturers Based on Type of Tanks

Table 5.3: Composite Cylinder Supplier Ranking Based on Revenue

Table 5.4: Presence of Composite Cylinder Manufacturers across the Value Chain

 

Chapter 6. Growth Opportunities and Strategic Analysis

Table 6.1: New Product Launches by Major Composite Cylinders Producers (2013-2018)

Table 6.2: Certification and Licenses Acquired by Major Competitors in the Global Composite Cylinder Market

 

Lucintel has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:

Extensive research and interviews are conducted in the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts in the composite cylinder market. The major composite cylinder manufacturers are Hexagon Composites, Luxfer Gas Cylinders, Worthington Cylinders, Time Technoplast, Faber Industries, Beijing Tianhai, Quantum Technologies, Drager, Xperion (acquired by Hexagon), and others.
 

Below is a brief summary of the primary interviews that were conducted by job function for this report.

Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.