According to the recent study the composite cylinder market is projected to reach an estimated $0.8 billion by 2025 from $0.8 billion in 2019, at a CAGR of 0.7% from 2020 to 2025. Growth in this market is primarily driven by increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder.
Browse 60 figures / charts and 51 tables in this 136 -page report to understand trends, opportunities and forecast in composite cylinder market by end use industry (gas carriers and storage, transportation, life support, recreation and others), tank type (Type II, Type III, Type IV), composite consumption by fiber type (Glass Fiber Composites, Carbon Fiber Composites and Aramid Fiber Composites), and region (North America, Europe, and the Rest of the World (ROW).
Download sample report by clicking on below link https://www.lucintel.com/downloadreportsample.aspx?RepId=RPT1948 and view detailed Table of Content here - https://www.lucintel.com/growth-opportunities-in-the-global-composite-cylinder.aspx

“Gas carriers and storage market is expected to remain the largest segment during the forecast period.”
Based on end use Industry, the composite cylinder market is segmented into gas carriers and storage, transportation, life support, recreation. Lucintel forecasts that the gas carriers and storage market is expected to remain the largest segment.



“Within the composite cylinder market, the transportation segment is expected to remain the largest end use Industry”
Based on end use Industry the transportation segment is expected to witness the highest growth over the forecast period due to the increasing requirement of weight reduction with higher gas carrying capacity are the major driving forces that spur growth for this segment over the forecast period.
“Europe will dominate the composite cylinder market in near future”
Europe is expected to remain the largest market for composite cylinder due to the higher acceptance level and increasing use of lightweight cylinders.
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Major players of composite cylinder market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co. are among the major composite cylinder providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/growth-opportunities-in-the-global-composite-cylinder.aspx or [email protected]
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