World Composite CNG Tank Market Examined in Topical Lucintel Research Report Published at MarketPublishers.com14 Dec 2015 • by Natalie Aster
LONDON – The future of the composite CNG tanks in the worldwide automotive industry looks bright due to the rising penetration of composite tanks and growing number of CNG-powered vehicles. The market for composite CNG tanks is projected to grow at a 10.2% CAGR through to 2020. Composite CNG tanks are far lighter compared to their traditional counterparts, leading to weight savings and increased fuel storage capacity whilst агкерук improving vehicle fuel efficiency. The growth of the sector is also fuelled by a surging number of natural gas vehicles (NGVs). The demand for NGVs is soaring, as the majority of the countries are focusing on the reduction of carbon dioxide emissions; the availability of lower cost natural gas as against gasoline and diesel also contributed to the demand increase.
Europe will likely remain the largest market owing to an upsurge in NGV population alongside increased demand for lightweight tanks. Region-wise, North America is poised to show the most rapid growth in the next 5 years, remaining the top destination for global giants due to the development of novel NGV vehicles backed by considerable natural gas exploration activities.
Topical report “Growth Opportunities for Composite CNG Tanks in Global Automotive Industry 2015-2020: Trend, Forecast, and Competitive Analysis” developed by Lucintel covers the global composite CNG tank marketplace, providing detailed data and analysis on trends, major drivers, and directions. The study presents market size estimates in terms of value and volume shipment, identifies growth opportunities for composite CNG tanks in the world automotive industry for 2009-2014, as well as includes a comprehensive forecast for the overall market as well as region- and segment-wise, up to 2020. The report provides detailed market segmentation based on tank type, vehicle type, raw material, and region. It provides an analysis of the demand for composite materials by type, glass fiber and carbon fiber; an analysis of the market by key regions like North America, Europe, APAC, and RoW; evaluation of the growth opportunities in various applications and regions. Furthermore, the study presents an exhaustive strategic analysis including M&As, new product developments, competitive intensity of the industry, and expansion strategies of the top composite CNG tanks suppliers in the world automotive industry.
Growth Opportunities for Composite CNG Tanks in Global Automotive Industry 2015-2020: Trend, Forecast, and Competitive Analysis
Published: August, 2015
Price: US$ 3,900.00
More reports by the publisher can be found at Lucintel page.