Growth Opportunities in Global Composites Cylinder Market 2011-2016: Trends, Forecast and Market Share Analysis

The global cylinder industry has witnessed a gradual shift from the type-I steel cylinders to an increased use of composite cylinders in various segments.Type-1 steel cylinders were introduced in 19th century between 1870 to 1880 to store carbon-di-oxide in liquid state for industrial gas business. Use of composites cylinder started in the early 1960s by rocket motors, space shuttles, and other sonar equipments. High pressure composite cylinders were developed especially for space and military applications. Composite cylinders got commercialized during 1970’s as it entered into the breathing apparatus market used by firemen. During 1980s these composite cylinders were used for scuba diving, fuel storage (mainly natural gas), and leisure applications. Composite cylinders are highly safe, corrosion resistant, light in weight and easily portable, even it has longer life cycle as compared to traditional steel tanks.

According to Lucintel’s report “Growth Opportunities in Global Composites Cylinder Market 2011- 2016: Trends, Forecast and Market Share Analysis”- The composites cylinder market is expected to grow at double digit rate in coming five years with focus on weight reduction and better performance. Over the next 5 years, composites cylinder market is estimated to grow at a CAGR of 13.8% and the end product market is expected to surpass $1.Bn by 2016.

Composites cylinder market holds promising present and future for light weight cylinders with an increased focus on environmental performance and fuel efficiency. Traditional cylinder manufacturers are repositioning their companies by customizing and widening their product offering. Significant regional shift, in the overall cylinder market is taking place. This new dimension is likely to provide tremendous growth to regional players and existing companies are expected to face fierce competition in the coming time.

This unique report from Lucintel will provide you with valuable information, insights and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.