Global CNG Tank Market : Trends, Forecast, and Opportunity Analysis 1

Industry Profiles Snapshot Major ParameterDescription Market Segments by application automotive and bulk transportation Market Segments by tank Type Type I, Type II, Type III, Type IV Market Segments by material consumption metal, glass fiber composites, and carbon fiber composites Market Segments by Region North America, Europe, Asia Pacific and Rest of the World. Top Companies Name Hexagon Composites ASA, Luxfer Gas Cylinder, Worthington Cylinders, Faber Industries S.p.A., and Everest Kanto Cylinder Ltd. Trend Growth Rate and CAGR5.1% Key Industry Forecast The global CNG tank market is expected to reach an estimated $1.3 billion by 2022 and grow at a CAGR of 5.1% from 2017 to Key Industry Driver Driver: Increasing umber of natural gas vehicles (NGVs) and lower cost of natural gas than gasoline and diesel. 2

Industry Overview Market Size The global CNG tank market is expected to reach an estimated $1.3 billion by 2022 and grow at a CAGR of 5.1% from 2017 to Emerging trends, which have a direct impact on the dynamics of the industry, include the increase in green fleet and development of type V tanks. Market Size (2022)$1.3 billion CAGR ( )5.1% 3 Industry Performance : Forecast