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Compressed Natural Gas (CNG) Tanks/Cylinders Market Size, Share, and Outlook, 2025 Report- By Raw Material (Metals, Glass fiber, Carbon fiber), By Type (Type 1, Type 2, Type 3, Type 4), By Vehicle (Light duty vehicles (LDVs), Medium duty vehicles (MDVs),

Publisher VPA Research
Published Mar 12, 2025
Length 189 Pages
SKU # VPA19808957

Description

Compressed Natural Gas Tanks or Cylinders Market Outlook

Compressed Natural Gas (CNG) Tanks/Cylinders Market Size is forecast to reach $7.4 Billion in 2032 from $4.1 Billion in 2025, at an optimistic growth rate of 8.7% from 2025 to 2032.. The Compressed Natural Gas Tanks or Cylinders market is a thriving business that is poised to keep growing and presents potential growth opportunities for companies across the industry value chain.

The comprehensive market research report presents 12-year historic and forecast data on Compressed Natural Gas Tanks or Cylinders segments across 22 countries from 2021 to 2032. Key segments in the report include By Raw Material (Metals, Glass fiber, Carbon fiber), By Type (Type 1, Type 2, Type 3, Type 4), By Vehicle (Light duty vehicles (LDVs), Medium duty vehicles (MDVs), Heavy duty vehicles (HDVs)). Over 70 tables and charts showcase findings from our latest survey report on Compressed Natural Gas Tanks or Cylinders markets.

Compressed Natural Gas Tanks or Cylinders Market Insights, 2025

The CNG tanks and cylinders market is growing due to the increasing adoption of compressed natural gas as a cleaner and more cost-effective alternative to gasoline and diesel. CNG tanks, made from steel, aluminum, or lightweight composite materials, are used in passenger vehicles, buses, and commercial fleets to reduce carbon emissions. The shift toward high-pressure Type IV composite cylinders, which offer better fuel efficiency and reduced vehicle weight, is driving market growth. Additionally, government incentives promoting natural gas vehicles (NGVs) and advancements in tank manufacturing technologies, such as filament winding and advanced pressure-resistant liners, are further accelerating adoption.

Five Trends that will define global Compressed Natural Gas Tanks or Cylinders market in 2025 and Beyond

A closer look at the multi-million global market for Compressed Natural Gas Tanks or Cylinders identifies rapidly shifting consumer preferences across categories. By focusing on growth and resilience, leading Compressed Natural Gas Tanks or Cylinders companies are prioritizing their investments across categories, markets, and geographies. The report analyses the most important market trends shaping the new landscape to support better decisions for the long and short-term future.

What are the biggest opportunities for growth in the Compressed Natural Gas Tanks or Cylinders industry?

The Compressed Natural Gas Tanks or Cylinders sector demonstrated remarkable resilience over the past year across developed and developing economies. Further, the market presents significant opportunities to leverage the existing momentum towards actions by 2030. On the other hand, recent macroeconomic developments including rising inflation and supply chain disruptions are putting pressure on companies. The chapter assists users to identify growth avenues and address business challenges to make informed commercial decisions with unique insights, data forecasts, and in-depth market analyses.

Compressed Natural Gas Tanks or Cylinders Market Segment Insights

The Compressed Natural Gas Tanks or Cylinders industry presents strong offers across categories. The analytical report offers forecasts of Compressed Natural Gas Tanks or Cylinders industry performance across segments and countries. Key segments in the industry include- By Raw Material (Metals, Glass fiber, Carbon fiber), By Type (Type 1, Type 2, Type 3, Type 4), By Vehicle (Light duty vehicles (LDVs), Medium duty vehicles (MDVs), Heavy duty vehicles (HDVs)). The largest types, applications, and sales channels, fastest growing segments, and the key factors driving each of the categories are included in the report.

Forecasts of each segment across five regions are provided from 2021 through 2032 for Asia Pacific, North America, Europe, South America, Middle East, and African regions. In addition, Compressed Natural Gas Tanks or Cylinders market size outlook is provided for 22 countries across these regions.

Market Value Chain

The chapter identifies potential companies and their operations across the global Compressed Natural Gas Tanks or Cylinders industry ecosystem. It assists decision-makers in evaluating global Compressed Natural Gas Tanks or Cylinders market fundamentals, market dynamics, and disruptive trends across the value chain segments.

Scenario Analysis and Forecasts

Strategic decision-making in the Compressed Natural Gas Tanks or Cylinders industry is multi-faceted with the increased need for planning across scenarios. The report provides forecasts across three case scenarios- low growth, reference case, and high growth cases.

Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Analysis- A Promising Growth Arena for Business Expansion

As companies increasingly expand across promising Asia Pacific markets with a combined population of over 4.5 billion, the medium-to-long-term future remains robust. The presence of the fastest-growing economies such as China, India, Thailand, Indonesia, and Vietnam coupled with strengthening middle-class populations and rising disposable incomes drive the market. In particular, China and India are witnessing rapid shifts in consumer purchasing behavior. China is recovering steadily with optimistic forecasts for 2025. Further, Japanese and South Korean markets remain stable with most companies focusing on new product launches and diversification of sales channels.

The State of Europe Compressed Natural Gas Tanks or Cylinders Industry 2025- Focus on Accelerating Competitiveness

As companies opt for an integrated agenda for competitiveness, the year 2025 presents optimistic scenarios for companies across the ecosystem. With signs of economic recovery across markets, companies are increasing their investments. Europe is one of the largest markets for Compressed Natural Gas Tanks or Cylinders with demand from both Western Europe and Eastern European regions increasing over the medium to long-term future. Increasing omnichannel shopping amidst robust consumer demand for value purchases shapes the market outlook. The report analyses the key Compressed Natural Gas Tanks or Cylinders market drivers and opportunities across Germany, France, the United Kingdom, Spain, Italy, Russia, and other Europe.

The US Compressed Natural Gas Tanks or Cylinders market Insights- Executives are most excited about opportunities for the US Compressed Natural Gas Tanks or Cylinders industry.

Easing inflation coupled with strengthening consumer sentiment is encouraging aggressive actions from the US Compressed Natural Gas Tanks or Cylinders companies. Market players consistently focusing on innovation and pursuing new ways to create value are set to excel in 2025. In addition, the Canadian and Mexican markets offer lucrative growth pockets for manufacturers and vendors. Focus on private-brand offerings and promotions, diversified sales channels, expansion into niche segments, adoption of advanced technologies, and sustainability are widely observed across the North American Compressed Natural Gas Tanks or Cylinders market.

Latin American Compressed Natural Gas Tanks or Cylinders market outlook rebounds in line with economic growth.

Underlying demand remains higher among urban consumers with an optimistic economic outlook across Brazil, Argentina, Chile, and other South and Central American countries. Increased consumer spending has been reported since H2-2024 and the prospects remain strong for 2025. Aggressive ecosystem moves to create new sources of income are widely observed across markets in the region. Marketing activities focused on customer insights, operations, and support functions are quickly gaining business growth in the region.

Middle East and Africa Compressed Natural Gas Tanks or Cylinders Markets- New Opportunities for Companies Harnessing Diversity

Rapid growth in burgeoning urban locations coupled with a young and fast-growing population base is attracting new investments in the Middle East and African Compressed Natural Gas Tanks or Cylinders markets. Designing expansion and marketing strategies to cater to the local consumer base supports the market prospects. In addition to Nigeria, Algeria, South Africa, and other markets, steady growth markets in Ethiopia, Rwanda, Ghana, Tanzania, the Democratic Republic of Congo, and others present significant prospects for companies. On the other hand, Middle Eastern Compressed Natural Gas Tanks or Cylinders markets including the UAE, Saudi Arabia, Qatar, and Oman continue to offer lucrative pockets of growth.

Competitive Landscape- How Compressed Natural Gas Tanks or Cylinders companies outcompete in 2025?

The ability to respond quickly to evolving consumer preferences and adapt businesses to niche consumer segments remains a key growth factor. The report identifies the leading companies in the industry and provides their revenue for 2024. The market shares of each company are also included in the report. Further, business profiles, SWOT analysis, and financial analysis of each company are provided in detail. Key companies analyzed in the report include Anhui Clean Energy Co. Ltd, Avanco Group, Beijing Tianhai Industry Co. Ltd, Everest Kanto Cylinders Ltd, Faber Industrie S.P.A, Fiba technologies, Hexagon Composites ASA, Indoruss Synergy Pvt. Ltd, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd, Luxfer Group, Maruti Koatsu Cylinders Ltd, NGV Technologies Inc, Plastic Omnium, Praxair Technologies Inc, Quantum Fuel Systems Technologies Worldwide Inc, Ullit SA, Worthington Industries.

Reasons to Buy the report
  • Make informed decisions through long and short-term forecasts across 22 countries and segments.
  • Evaluate market fundamentals, dynamics, and disrupting trends set to shape 2025 and beyond.
  • Gain a clear understanding of the competitive landscape, with product portfolio and growth strategies.
  • Get an integrated understanding of the entire market ecosystem and companies.
  • Stay ahead of the competition through plans for growth in a changing environment for your geographic expansion.
  • Assess the impact of advanced technologies and identify growth opportunities based on actionable data and insights.
  • Get free Excel spreadsheet and PPT versions along with the report PDF.

Table of Contents

189 Pages
1. Table of Contents
List of Figures and Tables
2. Executive Summary
2.1 Key Highlights
2.1.1 Compressed Natural Gas Tanks or Cylinders Market Size Outlook, 2018-2024 and 2025-2032
2.1.2 Largest Compressed Natural Gas Tanks or Cylinders Market Types and Applications
2.1.3 Fastest Growing Segments
2.1.4 Potential Markets
2.1.5 Market Concentration
2.2 Market Scope and Segmentation
2.2.1 Market Scope- Segments
2.2.2 Market Scope- Countries
2.2.3 Macroeconomic and Demographic Outlook
2.2.4 Abbreviations
2.2.5 Units and Currency Conversions
3. Research Methodology
3.1 Primary Research Surveys
3.2 Secondary Data Sources
3.3 Data Triangulation
3.4 Forecast Methodology
3.5 Assumptions and Limitations
4. Introduction to Global Compressed Natural Gas Tanks or Cylinders Market in 2025
4.1 Industry Panorama
4.2 Leading Companies Profiled in the Study
4.3 Asia Pacific Markets offer Robust Market Prospects for New Entrants
4.4 Market Dynamics
4.4.1 Market Dynamics- Trends and Drivers
4.4.2 Market Dynamics- Opportunities and Challenges
4.5 Regional Analysis
4.6 Porter’s Five Force Analysis
4.6.1 Intensity of Competitive Rivalry
4.6.2 Threat of New Entrants
4.6.3 Threat of Substitutes
4.6.4 Bargaining Power of Buyers
4.6.5 Bargaining Power of Suppliers
4.7 Compressed Natural Gas Tanks or Cylinders Industry Value Chain Analysis
4.7.1 Stage of Value Chain
4.7.2 Key Activities of Companies
4.7.3 Companies Included in Each Stage
4.7.4 Key Insights
5. Compressed Natural Gas Tanks or Cylinders Market Outlook to 2032
5.1 Market Size Forecast by Type, 2021-2024 and 2025-2032
5.2 Market Size Forecast by Application, 2021-2024 and 2024-2032
5.3 Market Size Forecast by Geography, 2021-2024 and 2024-2032
By Raw Material
Metals
Glass fiber
Carbon fiber
By Type
Type 1
Type 2
Type 3
Type 4
By Vehicle
Light duty vehicles (LDVs)
Medium duty vehicles (MDVs)
Heavy duty vehicles (HDVs)
6. Global Compressed Natural Gas Tanks or Cylinders Market Outlook across Growth Scenarios
6.1 Low Growth Scenario
6.2 Base/Reference Case
6.3 High Growth Scenario
6. North America Compressed Natural Gas Tanks or Cylinders Market Size Outlook
6.1 Key Market Statistics, 2024
6.2 North America Compressed Natural Gas Tanks or Cylinders Market Trends and Growth Opportunities
6.2.1 North America Compressed Natural Gas Tanks or Cylinders Market Outlook by Type
6.2.2 North America Compressed Natural Gas Tanks or Cylinders Market Outlook by Application
6.3 North America Compressed Natural Gas Tanks or Cylinders Market Outlook by Country
6.3.1 The US Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
6.3.2 Canada Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
6.3.3 Mexico Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7. Europe Compressed Natural Gas Tanks or Cylinders Market Size Outlook
7.1 Key Market Statistics, 2024
7.2 Europe Compressed Natural Gas Tanks or Cylinders Market Trends and Growth Opportunities
7.2.1 Europe Compressed Natural Gas Tanks or Cylinders Market Outlook by Type
7.2.2 Europe Compressed Natural Gas Tanks or Cylinders Market Outlook by Application
7.3 Europe Compressed Natural Gas Tanks or Cylinders Market Outlook by Country
7.3.2 Germany Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.3 France Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.4 The UK Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.5 Spain Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.6 Italy Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.7 Russia Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
7.3.8 Rest of Europe Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8. Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Size Outlook
8.1 Key Market Statistics, 2024
8.2 Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Trends and Growth Opportunities
8.2.1 Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Outlook by Type
8.2.2 Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Outlook by Application
8.3 Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Outlook by Country
8.3.1 China Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.2 India Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.3 Japan Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.4 South Korea Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.5 Australia Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.6 South East Asia Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
8.3.7 Rest of Asia Pacific Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
9. South America Compressed Natural Gas Tanks or Cylinders Market Size Outlook
9.1 Key Market Statistics, 2024
9.2 South America Compressed Natural Gas Tanks or Cylinders Market Trends and Growth Opportunities
9.2.1 South America Compressed Natural Gas Tanks or Cylinders Market Outlook by Type
9.2.2 South America Compressed Natural Gas Tanks or Cylinders Market Outlook by Application
9.3 South America Compressed Natural Gas Tanks or Cylinders Market Outlook by Country
9.3.1 Brazil Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
9.3.2 Argentina Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
9.3.3 Rest of South and Central America Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10. Middle East and Africa Compressed Natural Gas Tanks or Cylinders Market Size Outlook
10.1 Key Market Statistics, 2024
10.2 Middle East and Africa Compressed Natural Gas Tanks or Cylinders Market Trends and Growth Opportunities
10.2.1 Middle East and Africa Compressed Natural Gas Tanks or Cylinders Market Outlook by Type
10.2.2 Middle East and Africa Compressed Natural Gas Tanks or Cylinders Market Outlook by Application
10.3 Middle East and Africa Compressed Natural Gas Tanks or Cylinders Market Outlook by Country
10.3.1 Saudi Arabia Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10.3.2 The UAE Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10.3.3 Rest of Middle East Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10.3.4 South Africa Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10.3.5 Egypt Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
10.3.6 Rest of Africa Compressed Natural Gas Tanks or Cylinders Market Outlook, 2021- 2032
11. Company Profiles
11.1 Leading 10 Companies
Anhui Clean Energy Co. Ltd
Avanco Group
Beijing Tianhai Industry Co. Ltd
Everest Kanto Cylinders Ltd
Faber Industrie S.P.A
Fiba technologies
Hexagon Composites ASA
Indoruss Synergy Pvt. Ltd
Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd
Luxfer Group
Maruti Koatsu Cylinders Ltd
NGV Technologies Inc
Plastic Omnium
Praxair Technologies Inc
Quantum Fuel Systems Technologies Worldwide Inc
Ullit SA
Worthington Industries
11.2 Overview
11.3 Products and Services
11.4 SWOT Profile
12. Appendix
12.1 Subscription Options
12.2 Customization Options
12.3 Publisher Details
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