Tuesday, January 31, 2023
  • About Us
  • Contact Us
KsaWeekly.com
  • News
  • Business
  • Finance
  • Technology
  • Lifestyle
  • Middle East
  • Press Release
Submit a News Release
No Result
View All Result
KsaWeekly.com
Submit PR
Home Press Release

CNG, RNG, and Hydrogen Tanks Market

Press Room by Press Room
July 18, 2022
in Press Release
CNG, RNG, and Hydrogen Tanks Market
Share on FacebookShare on Twitter


 


(EMAILWIRE.COM, July 18, 2022 ) The report “CNG, rng, and Hydrogen Tanks Market by Gas Type (CNG, RNG, Hydrogen), Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Type 1, Type 2, Type 3, Type 4), Application (Fuel, Transportation), and Region – Global Forecast to 2026″, is expected to grow from USD 2.1 billion in 2021 to USD 3.4 billion by 2026, at a CAGR of 9.8% during the forecast period. Government initiatives emphasizing on adoption of clean fuel and growth in number natural and fuel cell electric vehicles are expected to drive the market.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=222605141

CNG tanks comprise a major share in terms of value and volume.

CNG tanks are widely adopted in light-duty vehicles by various automotive manufacturers globally as they are economical in the long run and emit lease greenhouse gases as compared to petrol or diesel. Also, the CNG infrastructure for refueling vehicles is well developed in many countries. These factors coupled with government initiatives for adopting clean fuel is also driving the CNG tanks market.

However, due to pandemic COVID-19, the sales of CNG vehicles, hybrid CNGs, retrofitted CNG vehicles decreased leading to reduced demand for CNG tanks. This demand would surge with recovery in the automotive sector and increase in sales of all type of CNG vehicles.

Metal-based tanks account for the largest market share in the global CNG, RNG, and hydrogen tanks market in terms of value and volume.

Metal-based tanks are in operation for a long period now due to ease of manufacturing and low cost. Metal-based CNG tanks are widely used in APAC, MEA, and Latin America. They have high demand from countries such as China, India, Pakistan, Thailand, Brazil, Argentina, Iran, Colombia, and Uzbekistan. However, because of COVID-19, the demand for new meta-based tanks is reduced. However, in the Europe and North America, carbon fiber-based CNG, RNG, and hydrogen tanks are getting more popularity due to reduced weight and more gas carrying capacity.

Type 1 dominates the global CNG, RNG, and hydrogen tanks market in terms of value and volume

Type 1 tanks are metal-based and the most preferred type of tank, globally. Type 1 tanks are widely employed in the light light-duty vehicles. It is the heaviest tank by weight among all the tanks, as it is made entirely from metal, but at the same time, it is also the most economical tank. Some of the active market players are Everest Kanto Cylinders Ltd. (India). Praxair Ttechnologies Inc. (U.S.), Faber Industries S.P.A (Italy), and Worthington Industries (U.S.).

Fuel tank application dominates the market in the global CNG, RNG, and hydrogen tanks market during the forecast period in terms of value and volume.

The fuel tank applications of CNG, RNG, and hydrogen tanks dominate the overall market. The increasing demand for low maintenance and clean fuel is driving the growth of CNG, RNG, and hydrogen tanks in the automotive industry. The fuel tank application is also expected to register the higher growth during the forecast period due to the increasing number of CNG, RNG, and hydrogen-powered vehicles, globally.

Don’t miss out on business opportunities in CNG, RNG, and Hydrogen Tanks Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=222605141

Browse in-depth TOC on “CNG, RNG, and Hydrogen Tanks Market”
246 – Market Data Tables
49 – Figures
235 – Pages

APAC is expected to account for the largest market share in the CNG, RNG, and hydrogen tanks market during the forecast period.

There is a high demand for CNG tanks in countries such as China, India, Pakistan, and Thailand due to well developed CNG infrastructure and increased adoption of CNG vehicles. Whereas countries such as Japan and South Korea are more focused on developing market for hydrogen powered vehicles. The government of these countries have adopted a road map to build themselves as hydrogen economy, which are expected to drive the hydrogen tank market.

Worthington Industries, Inc. (US), Luxfer Group (UK), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC. (US), Everest Kanto Cylinders Ltd. (Mumbai), Praxair Technologies Inc. (US), Avanco Group (Germany), Xinyi Beijing Tianhai Industry Co. Ltd. (China), Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd. (China), Faber Industrie SpA (Italy), are some of the key players in the CNG, RNG, and hydrogen tanks market. These players have taken different organic and inorganic developmental strategies over the past five years.

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=222605141

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.



Source link

Previous Post

Airborne SATCOM Market Report by Industry, Trend and Global Forecast (2022-2027)

Next Post

Investment Management industry in Middle East given one voice through new trade Association

RECOMMENDED NEWS

5 medals for Saudi Arabia on Day 1 of Jiu-Jitsu Thailand Open Grand Prix 2022

8 months ago

Remote Weapon Station Market value reach $7.5 billion by 2027 at a CAGR of 2.8%

5 days ago
Sarcoma Drugs Market is expected to register USD 1405.3 Mn in 2029, Industry Trends

Sarcoma Drugs Market is expected to register USD 1405.3 Mn in 2029, Industry Trends

3 weeks ago

Taste Modulators Market Worth $1,831.3 Million by 2024- Exclusive Report by Meticulous Research®

6 months ago

BROWSE BY CATEGORIES

  • Business
  • Finance
  • Lifestyle
  • Middle East
  • News
  • Press Release
  • Technology

POPULAR NEWS

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

    0 shares
    Share 0 Tweet 0
  • Saudi Arabia’s NuqtahNFT and ConsenSys partner to empower Web 3 startups

    0 shares
    Share 0 Tweet 0
  • Vidliz Expands Its Data-Driven Online Marketing Services in the Middle East

    0 shares
    Share 0 Tweet 0
  • VideoMost receives high rates in G2 Spring 2022 Grid for Video Conferencing

    0 shares
    Share 0 Tweet 0

KSA Weekly™ publishes and aggregates business, socio-economic, Tech and industrial news on Saudi Arabia, Middle East and North Africa (MENA).

We provide press release distribution to media in the Kingdom of Saudi Arabia, the Arab world and the GCC/MENA regions. To send your press release, contact us today.

Recent News

Recent Posts
  • Saudi’s foreign minister receives Commissioner-General of UNRWA
  • The G700 business jet broke 25 speed records during its world tour
  • Saudi Arabia plans road project in Aseer region to elevate … – Arab News
  • Arab Africa Trade Bridges (AATB) Program Hosts Series of Bilateral Trade Business to Business (B2B) Meetings in Casablanca, Morocco
  • ’Constant danger’: Life after leprosy, a long neglected disease

Category

News

Business

Finance

Technology

Lifestyle

Middle East

Press Releases

Subscribe to Our Newsletter

    KSA Weekly ™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC

    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • News
    • Business
    • Finance
    • Technology
    • Lifestyle
    • Middle East
    • Press Release

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.