Report Overview
Compressed Natural Gas (CNG) tanks are high-pressure storage vessels designed to store natural gas at pressures higher than 200 bar. These tanks are typically made of composite materials such as carbon fiber or fiberglass, or metal alloys like aluminum. CNG tanks are an essential component of vehicles powered by natural gas, providing a safe and efficient way to store the fuel. As the demand for alternative fuels continues to rise, the market for CNG tanks is expected to grow significantly in the coming years.
The market for CNG tanks is driven by several key factors. One of the primary drivers is the increasing focus on reducing greenhouse gas emissions and transitioning to cleaner energy sources. CNG is considered a cleaner alternative to traditional fossil fuels, making it an attractive option for vehicle manufacturers and fleet operators looking to reduce their carbon footprint. Additionally, the growing infrastructure for natural gas refueling stations is making CNG more accessible to consumers, further driving the demand for CNG tanks. Moreover, government incentives and regulations promoting the use of natural gas as a transportation fuel are also fueling the market growth for CNG tanks.
In addition to environmental concerns and government regulations, the market for CNG tanks is also influenced by technological advancements in tank design and manufacturing processes. Innovations in materials and construction techniques are leading to lighter, more durable, and higher capacity CNG tanks, making them more attractive for a wider range of applications. Furthermore, the increasing adoption of natural gas vehicles in commercial fleets, public transportation, and personal vehicles is creating a steady demand for CNG tanks. Overall, the market for CNG tanks is poised for significant growth as the world shifts towards cleaner and more sustainable energy solutions.
The global Compressed Natural Gas (CNG) Tanks market size was estimated at USD 1878.46 million in 2024 and is projected to reach USD 3607.78 million by 2033, exhibiting a CAGR of 8.50% during the forecast period.
This report provides a deep insight into the global Compressed Natural Gas (CNG) Tanks market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, Porter's five forces analysis, value chain analysis, PEST analysis, etc.
The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Compressed Natural Gas (CNG) Tanks Market, this report introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.
In a word, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Compressed Natural Gas (CNG) Tanks market in any manner.
Global Compressed Natural Gas (CNG) Tanks Market: Market Segmentation Analysis
The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.
Key Company
Luxfer Group
Hexagon Composites
Worthington Industries
3M
CNGUnited
GO NATURAL CNG
Quantum Fuel Systems Technologies Worldwide
R CNG
Wise Gas
Everest Kanto Cylinders
Faber Industries
Avanco Group
Ullit
BeiJing TianHai Industry
LianYunGang ZhongFu LianZhong Composites Group
Market Segmentation (by Type)
Metal CNG Tanks
Glass Fiber CNG Tanks
Carbon Fiber CNG Tanks
Market Segmentation (by Application)
Light Duty Vehicles
Medium Duty Vehicles
Heavy Duty Vehicles
Other
Geographic Segmentation
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Compressed Natural Gas (CNG) Tanks Market
- Overview of the regional outlook of the Compressed Natural Gas (CNG) Tanks Market:
- Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change
- This enables you to anticipate market changes to remain ahead of your competitors
- You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents
- The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly
- Provision of market value data for each segment and sub-segment
- Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
- Provides insight into the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years to come
Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.
Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Compressed Natural Gas (CNG) Tanks Market and its likely evolution in the short to mid-term, and long term.
Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.
Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.
Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 8 provides a quantitative analysis of the market size and development potential of each region from the consumer side and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 9 shares the main producing countries of Compressed Natural Gas (CNG) Tanks, their output value, profit level, regional supply, production capacity layout, etc. from the supply side.
Chapter 10 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.
Chapter 11 provides a quantitative analysis of the market size and development potential of each region during the forecast period.
Chapter 12 provides a quantitative analysis of the market size and development potential of each market segment during the forecast period.
Chapter 13 is the main points and conclusions of the report.
Table of Contents 1 Research Methodology and Statistical Scope 1.1 Market Definition and Statistical Scope of Compressed Natural Gas (CNG) Tanks 1.2 Key Market Segments 1.2.1 Compressed Natural Gas (CNG) Tanks Segment by Type 1.2.2 Compressed Natural Gas (CNG) Tanks Segment by Application 1.3 Methodology & Sources of Information 1.3.1 Research Methodology 1.3.2 Research Process 1.3.3 Market Breakdown and Data Triangulation 1.3.4 Base Year 1.3.5 Report Assumptions & Caveats 2 Compressed Natural Gas (CNG) Tanks Market Overview 2.1 Global Market Overview 2.1.1 Global Compressed Natural Gas (CNG) Tanks Market Size (M USD) Estimates and Forecasts (2020-2033) 2.1.2 Global Compressed Natural Gas (CNG) Tanks Sales Estimates and Forecasts (2020-2033) 2.2 Market Segment Executive Summary 2.3 Global Market Size by Region 3 Compressed Natural Gas (CNG) Tanks Market Competitive Landscape 3.1 Company Assessment Quadrant 3.2 Global Compressed Natural Gas (CNG) Tanks Product Life Cycle 3.3 Global Compressed Natural Gas (CNG) Tanks Sales by Manufacturers (2020-2025) 3.4 Global Compressed Natural Gas (CNG) Tanks Revenue Market Share by Manufacturers (2020-2025) 3.5 Compressed Natural Gas (CNG) Tanks Market Share by Company Type (Tier 1, Tier 2, and Tier 3) 3.6 Global Compressed Natural Gas (CNG) Tanks Average Price by Manufacturers (2020-2025) 3.7 Manufacturers Compressed Natural Gas (CNG) Tanks Sales Sites, Area Served, Product Type 3.8 Compressed Natural Gas (CNG) Tanks Market Competitive Situation and Trends 3.8.1 Compressed Natural Gas (CNG) Tanks Market Concentration Rate 3.8.2 Global 5 and 10 Largest Compressed Natural Gas (CNG) Tanks Players Market Share by Revenue 3.8.3 Mergers & Acquisitions, Expansion 4 Compressed Natural Gas (CNG) Tanks Industry Chain Analysis 4.1 Compressed Natural Gas (CNG) Tanks Industry Chain Analysis 4.2 Market Overview of Key Raw Materials 4.3 Midstream Market Analysis 4.4 Downstream Customer Analysis 5 The Development and Dynamics of Compressed Natural Gas (CNG) Tanks Market 5.1 Key Development Trends 5.2 Driving Factors 5.3 Market Challenges 5.4 Market Restraints 5.5 Industry News 5.5.1 New Product Developments 5.5.2 Mergers & Acquisitions 5.5.3 Expansions 5.5.4 Collaboration/Supply Contracts 5.6 PEST Analysis 5.6.1 Industry Policies Analysis 5.6.2 Economic Environment Analysis 5.6.3 Social Environment Analysis 5.6.4 Technological Environment Analysis 5.7 Global Compressed Natural Gas (CNG) Tanks Market Porter's Five Forces Analysis 5.7.1 Global Trade Frictions 5.7.2 Global Trade Frictions and Their Impacts to Compressed Natural Gas (CNG) Tanks Market 5.8 ESG Ratings of Leading Companies 6 Compressed Natural Gas (CNG) Tanks Market Segmentation by Type 6.1 Evaluation Matrix of Segment Market Development Potential (Type) 6.2 Global Compressed Natural Gas (CNG) Tanks Sales Market Share by Type (2020-2025) 6.3 Global Compressed Natural Gas (CNG) Tanks Market Size Market Share by Type (2020-2025) 6.4 Global Compressed Natural Gas (CNG) Tanks Price by Type (2020-2025) 7 Compressed Natural Gas (CNG) Tanks Market Segmentation by Application 7.1 Evaluation Matrix of Segment Market Development Potential (Application) 7.2 Global Compressed Natural Gas (CNG) Tanks Market Sales by Application (2020-2025) 7.3 Global Compressed Natural Gas (CNG) Tanks Market Size (M USD) by Application (2020-2025) 7.4 Global Compressed Natural Gas (CNG) Tanks Sales Growth Rate by Application (2020-2025) 8 Compressed Natural Gas (CNG) Tanks Market Sales by Region 8.1 Global Compressed Natural Gas (CNG) Tanks Sales by Region 8.1.1 Global Compressed Natural Gas (CNG) Tanks Sales by Region 8.1.2 Global Compressed Natural Gas (CNG) Tanks Sales Market Share by Region 8.2 Global Compressed Natural Gas (CNG) Tanks Market Size by Region 8.2.1 Global Compressed Natural Gas (CNG) Tanks Market Size by Region 8.2.2 Global Compressed Natural Gas (CNG) Tanks Market Size Market Share by Region 8.3 North America 8.3.1 North America Compressed Natural Gas (CNG) Tanks Sales by Country 8.3.2 North America Compressed Natural Gas (CNG) Tanks Market Size by Country 8.3.3 U.S. Market Overview 8.3.4 Canada Market Overview 8.3.5 Mexico Market Overview 8.4 Europe 8.4.1 Europe Compressed Natural Gas (CNG) Tanks Sales by Country 8.4.2 Europe Compressed Natural Gas (CNG) Tanks Market Size by Country 8.4.3 Germany Market Overview 8.4.4 France Market Overview 8.4.5 U.K. Market Overview 8.4.6 Italy Market Overview 8.4.7 Spain Market Overview 8.5 Asia Pacific 8.5.1 Asia Pacific Compressed Natural Gas (CNG) Tanks Sales by Region 8.5.2 Asia Pacific Compressed Natural Gas (CNG) Tanks Market Size by Region 8.5.3 China Market Overview 8.5.4 Japan Market Overview 8.5.5 South Korea Market Overview 8.5.6 India Market Overview 8.5.7 Southeast Asia Market Overview 8.6 South America 8.6.1 South America Compressed Natural Gas (CNG) Tanks Sales by Country 8.6.2 South America Compressed Natural Gas (CNG) Tanks Market Size by Country 8.6.3 Brazil Market Overview 8.6.4 Argentina Market Overview 8.6.5 Columbia Market Overview 8.7 Middle East and Africa 8.7.1 Middle East and Africa Compressed Natural Gas (CNG) Tanks Sales by Region 8.7.2 Middle East and Africa Compressed Natural Gas (CNG) Tanks Market Size by Region 8.7.3 Saudi Arabia Market Overview 8.7.4 UAE Market Overview 8.7.5 Egypt Market Overview 8.7.6 Nigeria Market Overview 8.7.7 South Africa Market Overview 9 Compressed Natural Gas (CNG) Tanks Market Production by Region 9.1 Global Production of Compressed Natural Gas (CNG) Tanks by Region(2020-2025) 9.2 Global Compressed Natural Gas (CNG) Tanks Revenue Market Share by Region (2020-2025) 9.3 Global Compressed Natural Gas (CNG) Tanks Production, Revenue, Price and Gross Margin (2020-2025) 9.4 North America Compressed Natural Gas (CNG) Tanks Production 9.4.1 North America Compressed Natural Gas (CNG) Tanks Production Growth Rate (2020-2025) 9.4.2 North America Compressed Natural Gas (CNG) Tanks Production, Revenue, Price and Gross Margin (2020-2025) 9.5 Europe Compressed Natural Gas (CNG) Tanks Production 9.5.1 Europe Compressed Natural Gas (CNG) Tanks Production Growth Rate (2020-2025) 9.5.2 Europe Compressed Natural Gas (CNG) Tanks Production, Revenue, Price and Gross Margin (2020-2025) 9.6 Japan Compressed Natural Gas (CNG) Tanks Production (2020-2025) 9.6.1 Japan Compressed Natural Gas (CNG) Tanks Production Growth Rate (2020-2025) 9.6.2 Japan Compressed Natural Gas (CNG) Tanks Production, Revenue, Price and Gross Margin (2020-2025) 9.7 China Compressed Natural Gas (CNG) Tanks Production (2020-2025) 9.7.1 China Compressed Natural Gas (CNG) Tanks Production Growth Rate (2020-2025) 9.7.2 China Compressed Natural Gas (CNG) Tanks Production, Revenue, Price and Gross Margin (2020-2025) 10 Key Companies Profile 10.1 Luxfer Group 10.1.1 Luxfer Group Basic Information 10.1.2 Luxfer Group Compressed Natural Gas (CNG) Tanks Product Overview 10.1.3 Luxfer Group Compressed Natural Gas (CNG) Tanks Product Market Performance 10.1.4 Luxfer Group Business Overview 10.1.5 Luxfer Group SWOT Analysis 10.1.6 Luxfer Group Recent Developments 10.2 Hexagon Composites 10.2.1 Hexagon Composites Basic Information 10.2.2 Hexagon Composites Compressed Natural Gas (CNG) Tanks Product Overview 10.2.3 Hexagon Composites Compressed Natural Gas (CNG) Tanks Product Market Performance 10.2.4 Hexagon Composites Business Overview 10.2.5 Hexagon Composites SWOT Analysis 10.2.6 Hexagon Composites Recent Developments 10.3 Worthington Industries 10.3.1 Worthington Industries Basic Information 10.3.2 Worthington Industries Compressed Natural Gas (CNG) Tanks Product Overview 10.3.3 Worthington Industries Compressed Natural Gas (CNG) Tanks Product Market Performance 10.3.4 Worthington Industries Business Overview 10.3.5 Worthington Industries SWOT Analysis 10.3.6 Worthington Industries Recent Developments 10.4 3M 10.4.1 3M Basic Information 10.4.2 3M Compressed Natural Gas (CNG) Tanks Product Overview 10.4.3 3M Compressed Natural Gas (CNG) Tanks Product Market Performance 10.4.4 3M Business Overview 10.4.5 3M Recent Developments 10.5 CNGUnited 10.5.1 CNGUnited Basic Information 10.5.2 CNGUnited Compressed Natural Gas (CNG) Tanks Product Overview 10.5.3 CNGUnited Compressed Natural Gas (CNG) Tanks Product Market Performance 10.5.4 CNGUnited Business Overview 10.5.5 CNGUnited Recent Developments 10.6 GO NATURAL CNG 10.6.1 GO NATURAL CNG Basic Information 10.6.2 GO NATURAL CNG Compressed Natural Gas (CNG) Tanks Product Overview 10.6.3 GO NATURAL CNG Compressed Natural Gas (CNG) Tanks Product Market Performance 10.6.4 GO NATURAL CNG Business Overview 10.6.5 GO NATURAL CNG Recent Developments 10.7 Quantum Fuel Systems Technologies Worldwide 10.7.1 Quantum Fuel Systems Technologies Worldwide Basic Information 10.7.2 Quantum Fuel Systems Technologies Worldwide Compressed Natural Gas (CNG) Tanks Product Overview 10.7.3 Quantum Fuel Systems Technologies Worldwide Compressed Natural Gas (CNG) Tanks Product Market Performance 10.7.4 Quantum Fuel Systems Technologies Worldwide Business Overview 10.7.5 Quantum Fuel Systems Technologies Worldwide Recent Developments 10.8 R CNG 10.8.1 R CNG Basic Information 10.8.2 R CNG Compressed Natural Gas (CNG) Tanks Product Overview 10.8.3 R CNG Compressed Natural Gas (CNG) Tanks Product Market Performance 10.8.4 R CNG Business Overview 10.8.5 R CNG Recent Developments 10.9 Wise Gas 10.9.1 Wise Gas Basic Information 10.9.2 Wise Gas Compressed Natural Gas (CNG) Tanks Product Overview 10.9.3 Wise Gas Compressed Natural Gas (CNG) Tanks Product Market Performance 10.9.4 Wise Gas Business Overview 10.9.5 Wise Gas Recent Developments 10.10 Everest Kanto Cylinders 10.10.1 Everest Kanto Cylinders Basic Information 10.10.2 Everest Kanto Cylinders Compressed Natural Gas (CNG) Tanks Product Overview 10.10.3 Everest Kanto Cylinders Compressed Natural Gas (CNG) Tanks Product Market Performance 10.10.4 Everest Kanto Cylinders Business Overview 10.10.5 Everest Kanto Cylinders Recent Developments 10.11 Faber Industries 10.11.1 Faber Industries Basic Information 10.11.2 Faber Industries Compressed Natural Gas (CNG) Tanks Product Overview 10.11.3 Faber Industries Compressed Natural Gas (CNG) Tanks Product Market Performance 10.11.4 Faber Industries Business Overview 10.11.5 Faber Industries Recent Developments 10.12 Avanco Group 10.12.1 Avanco Group Basic Information 10.12.2 Avanco Group Compressed Natural Gas (CNG) Tanks Product Overview 10.12.3 Avanco Group Compressed Natural Gas (CNG) Tanks Product Market Performance 10.12.4 Avanco Group Business Overview 10.12.5 Avanco Group Recent Developments 10.13 Ullit 10.13.1 Ullit Basic Information 10.13.2 Ullit Compressed Natural Gas (CNG) Tanks Product Overview 10.13.3 Ullit Compressed Natural Gas (CNG) Tanks Product Market Performance 10.13.4 Ullit Business Overview 10.13.5 Ullit Recent Developments 10.14 BeiJing TianHai Industry 10.14.1 BeiJing TianHai Industry Basic Information 10.14.2 BeiJing TianHai Industry Compressed Natural Gas (CNG) Tanks Product Overview 10.14.3 BeiJing TianHai Industry Compressed Natural Gas (CNG) Tanks Product Market Performance 10.14.4 BeiJing TianHai Industry Business Overview 10.14.5 BeiJing TianHai Industry Recent Developments 10.15 LianYunGang ZhongFu LianZhong Composites Group 10.15.1 LianYunGang ZhongFu LianZhong Composites Group Basic Information 10.15.2 LianYunGang ZhongFu LianZhong Composites Group Compressed Natural Gas (CNG) Tanks Product Overview 10.15.3 LianYunGang ZhongFu LianZhong Composites Group Compressed Natural Gas (CNG) Tanks Product Market Performance 10.15.4 LianYunGang ZhongFu LianZhong Composites Group Business Overview 10.15.5 LianYunGang ZhongFu LianZhong Composites Group Recent Developments 11 Compressed Natural Gas (CNG) Tanks Market Forecast by Region 11.1 Global Compressed Natural Gas (CNG) Tanks Market Size Forecast 11.2 Global Compressed Natural Gas (CNG) Tanks Market Forecast by Region 11.2.1 North America Market Size Forecast by Country 11.2.2 Europe Compressed Natural Gas (CNG) Tanks Market Size Forecast by Country 11.2.3 Asia Pacific Compressed Natural Gas (CNG) Tanks Market Size Forecast by Region 11.2.4 South America Compressed Natural Gas (CNG) Tanks Market Size Forecast by Country 11.2.5 Middle East and Africa Forecasted Sales of Compressed Natural Gas (CNG) Tanks by Country 12 Forecast Market by Type and by Application (2026-2033) 12.1 Global Compressed Natural Gas (CNG) Tanks Market Forecast by Type (2026-2033) 12.1.1 Global Forecasted Sales of Compressed Natural Gas (CNG) Tanks by Type (2026-2033) 12.1.2 Global Compressed Natural Gas (CNG) Tanks Market Size Forecast by Type (2026-2033) 12.1.3 Global Forecasted Price of Compressed Natural Gas (CNG) Tanks by Type (2026-2033) 12.2 Global Compressed Natural Gas (CNG) Tanks Market Forecast by Application (2026-2033) 12.2.1 Global Compressed Natural Gas (CNG) Tanks Sales (K Units) Forecast by Application 12.2.2 Global Compressed Natural Gas (CNG) Tanks Market Size (M USD) Forecast by Application (2026-2033) 13 Conclusion and Key Findings
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