According to a new market report published by Lucintel, the future of the global high-pressure gas cylinder market looks promising with opportunities in the transportation, industrial gas and storage, and life support industries. The high-pressure gas cylinder market is forecast to reach $2.3 billion by 2025 with a CAGR of 3.8% from 2020 to 2025. The major drivers for this market are growth in demand for CNG vehicles and increasing usage of high-pressure cylinders in the medical and recreational industries.
In this market, steel, composites, and aluminum are used for manufacturing high-pressure cylinders for various end use industries. Lucintel forecasts that steel will remain the largest material type due to their low cost. Composites material is expected to witness the highest growth due to increasing demand for lightweight cylinders in natural gas vehicles (NGVs).
Within the high-pressure gas cylinder market, transportation will remain the largest end use industry, and it is also expected to witness the highest growth over the forecast period. Increasing demand for natural gas vehicles (NGVs) due to clean and low cost alternative of gasoline and diesel powered vehicle is driving the demand for the high-pressure gas cylinder market.
Asia Pacific will remain the largest region, and it is also expected to witness the highest growth over the forecast period due to increasing demand for industrial gases and growth in CNG vehicles.
An emerging trend, which has a direct impact on the dynamics of the industry, includes development of fully wrapped high-pressure composites cylinder with no liner. Faber Industries, Luxfer Gas Cylinders, BTIC, Worthington Industries, Sinoma Science & Technology, NK Co. Ltd. (Korea), Norris Cylinder, and Everest Kanto Cylinder Ltd. are the major manufacturers of high-pressure cylinders.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global high-pressure cylinder market by end use industry, material, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global High-Pressure Gas Cylinder Market 2020-2025: Trends, Forecast, and Opportunity Analysis”. This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global high-pressure gas cylinder market by end use industry, material, tank type, and region as follows:
By End Use Industry [$M and Volume (Thousand Units) for 2014 – 2025]:
• Transportation
• Industrial Gas and Storage
• Life Support
• Others
By Material [$M and Volume (M lbs) analysis for 2014 – 2025]:
• Steel
• Composites
• Aluminum
By Tank Type [$M and Volume (Thousand Units) analysis for 2014 – 2025]
• Type I
• Type II
• Type III
• Type IV
By Region [$M and Volume (Thousand Units) analysis for 2014 – 2025]:
• North America
• Europe
• Asia Pacific
• Rest of the World
This 150 page 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 visit us at [email protected]. Lucintel offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT Analysis.

About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. We offer market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:

Q.1 What are some of the most promising potential, high-growth opportunities for the global high-pressure gas cylinder market by material (steel, composites, and aluminum), end use industry (transportation, industrial gas and storage, and life support and others), tank type (Type I, Type II, Type III, and Type IV), and region (North America, Europe, Asia Pacific, and Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the high-pressure gas cylinder market?
Q.5 What are the business risks and threats to the high-pressure gas cylinder market?
Q.6 What are emerging trends in the high-pressure gas cylinder market and the reasons behind them?
Q.7 What are some changing demands of customers in the high-pressure gas cylinder market?
Q.8 What are the new developments in the high-pressure gas cylinder market? Which companies are leading these developments?
Q.9 Who are the major players in the high-pressure gas cylinder market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in the high-pressure gas cylinder market, and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M&A activities did take place in the last five years in the high-pressure gas cylinder market?