CNG Tanks Cylinders Market Growth – Trends & Forecast 2025 to 2035
Overview:
The global CNG tanks and cylinders market is poised for steady expansion in the coming years. Projections indicate a market size of approximately USD 2,049.2 million in 2025, escalating to USD 3,810.8 million by 2035. This reflects a compound annual growth rate (CAGR) of 6.4% throughout the forecast period.
This growth is primarily driven by increasing adoption of compressed natural gas (CNG) as an alternative fuel in the automotive sector, coupled with stringent environmental regulations promoting cleaner energy sources. The demand for CNG tanks and cylinders is expected to rise across various applications, including light-duty vehicles, medium and heavy-duty vehicles, buses, and gas transportation.
Technological advancements in material science and manufacturing processes are leading to the development of lighter and more durable CNG tanks. Type 4 cylinders, made of carbon fiber composite materials, are gaining traction due to their high strength-to-weight ratio, offering significant advantages in terms of fuel efficiency and vehicle performance.
Regionally, Asia-Pacific is anticipated to be a key market, driven by the increasing number of CNG vehicles and supportive government initiatives in countries like China and India. Europe and North America are also expected to contribute substantially to market growth, with a focus on reducing greenhouse gas emissions and promoting sustainable transportation solutions.
Key players in the CNG tanks and cylinders market are focused on expanding their production capacities and developing innovative product offerings to cater to the evolving needs of the industry. These companies are also investing in research and development to improve the safety and performance of CNG storage solutions.
The market’s future growth is further influenced by the expansion of CNG refueling infrastructure and the increasing availability of CNG-powered vehicles. These factors will continue to drive the demand for CNG tanks and cylinders across various regions and applications.
Year On Year Growth Chart
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| Report Attribute | Details |
|---|---|
| Market Size in 2025 | USD 2,049.2 million |
| Revenue Forecast for 2035 | USD 3,810.8 million |
| Growth Rate (CAGR) | 6.4% from 2025 to 2035 |
| Base Year for Estimation | 2024 |
| Historical Data | 2020 – 2024 |
| Forecast Period | 2025 – 2035 |
| Quantitative Units | Revenue in USD million and CAGR from 2025 to 2035 |
| Report Coverage | Revenue forecast, company market share, competitive landscape, growth factors, and trends |
| Covered Segments | Type, propulsion type, and region |
| Regional Scope | North America, Europe, Asia Pacific |
| Country Scope | U.S., Canada, Mexico, U.K., Germany, Italy, Poland, China, India, Japan, Australia, South Korea, Brazil, UAE, KSA, South Africa |
| Key Companies Analyzed | Hexagon Composites ASA; Worthington Industries, Inc.; Luxfer Holdings PLC; Faber Industrie SpA; CIMC Enric Holdings Limited; Quantum Fuel Systems LLC |
| Customization Options | Free report customization (up to 8 analysts working days) with purchase. Changes to country, regional, and segment scope |
| Pricing and Purchase Options | Customizable purchase options for tailored research needs |
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Key Companies Market Share
Report Coverage & Deliverables
- Market Trends And Dynamics
- Competitve Benchmarking
- Historical data and forecasts
- Value/Volume analysis
- Company revenue shares and key strategies
- Regional opportunities
This is an indicative segmentation. Please request a sample report to see detail segmentation of this market.
Detailed Market Segmentation
- By Type
- CNG Type 1
- CNG Type 2
- CNG Type 3
- CNG Type 4
- By Application
- Light Duty Vehicles
- Medium & Heavy Duty Vehicles
- Buses
- Gas Transportation
- By Region
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, France, Italy, Poland)
- Asia-Pacific (China, India, Japan, Australia, South Korea)
- Latin America (Brazil, Argentina)
- Middle East & Africa (UAE, Saudi Arabia, South Africa)
Table of Content
- Executive Summary
- Market Overview
- Key Market Trends
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Global CNG Tanks Cylinders Market Analysis, by Type
- CNG Type 1
- CNG Type 2
- CNG Type 3
- CNG Type 4
- Global CNG Tanks Cylinders Market Analysis, by Application
- Light Duty Vehicles
- Medium & Heavy Duty Vehicles
- Buses
- Gas Transportation
- Regional Market Analysis
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Competitive Landscape
- Market Share Analysis
- Key Player Profiles
- Future Market Outlook
- Appendix
- Research Methodology
- Assumptions
- Abbreviations