CNG Tank Market by Tank Type (Cryogenic Tank, Tube Tailored Tank, Stationary Tank, Others), by Composite Type (Carbon Fibre, Steel or Aluminium Alloy, Metal Component, Glass Fibre, Others), by Vehicle Type (Commercial Vehicle, Passenger Vehicle, Others), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2025-2033
The CNG Tank Market size was valued at USD 2.12 billion in 2023 and is projected to reach USD 4.18 billion by 2032, exhibiting a CAGR of 10.20 % during the forecast period. CNG tanks are reservoirs that have been specially designed to store CNG at high pressure primarily for use as vehicle fuel. As for the kind of liner, there exist several kinds, which are Type 1: Aluminium liner and polyethylene, Type 2: Metal liner with an outer layer of composite, Type 3: Metal liner with composite layer surrounding it, and finally Type 4: Plastic liner that is completely covered by the composite layer. These include high strength, lightweight, and freedom from corrosion as some of the characteristics of Aluminum building materials. The use of CNG tanks are mainly used in the transport industry involving cars, buses, and trucks where they are used as a cleaner source of fuel as compared to petrol and diesel thus cutting on their emission and usage costs.
Tank Type:
Composite Type:
Vehicle Type:
Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.20% from 2019-2033 |
Segmentation |
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Aspects | Details |
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Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 10.20% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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