Global Composite Cylinders Market : Trends, Forecast, and Opportunity Analysis 1

Industry Profiles Snapshot Major ParameterDescription Market Segments by End Use Industry Gas carriers and storage, transportation, life support, recreation and others Market Segments by Tank Type Type II, Type III, Type IV Market Segments by Fiber Type Glass Fiber Composites, Carbon Fiber Composites and Aramid Fiber Composites Market Segments by Region North America, Europe, Asia Pacific and Rest of the World Top Companies Name Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit Trend Growth Rate and CAGR7.2% Key Industry Forecast The global composite cylinder market is expected to reach an estimated $968 million by 2022 and it is forecast to grow at a CAGR of 7.2% from 2017 to 2022 Key Industry Driver Driver: Increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder. 2

Industry Overview Market Size The global composite cylinder market is expected to reach an estimated $968 million by 2022 and it is forecast to grow at a CAGR of 7.2% from 2017 to 2022 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)$968 Million CAGR ( )7.2% 3 Industry Performance : Forecast