CNG, RNG, and Hydrogen Tanks Market Trends Size & Share - Recent Developments

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• CNG, RNG, and Hydrogen Tanks Market worth 3.4
  billion by 2026

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• Scope of The Report

• The research report categorizes the CNG, RNG, and
  Hydrogen Tanks Market to forecast the revenues
  and analyse the trends in each of the following
  subsegments

• Metal
• Carbon Fiber
• Glass Fiber

• Fuel
• Transportation

• CNG
• RNG
• Hydrogen

And More

• Type 1
• Type 2
• Type 3
• Type 4

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Key Segments
Any major development which can change the
business landscape as well as market forecasts
1
2
Addition/refinement in segmentation - increase in
depth or width of segmentation
3
Updated financial information/product portfolio
of players
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Updated market developments of profiled players
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Any new data points/analysis (frameworks) which
were not present in previous version of the
report
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• Market Growth Rate

2026
2021
Market Size of 2.1 Billion
Market Size of 3.4 Billion

1. Drivers Increasing tax incentives for CNG
   vehicles and infrastructure
2. Restraints High cost of composite material tanks
   and regulatory approvals
3. Opportunities Development of low-weight
   transportation tanks
4. Challenges Already well-established
   infrastructure for electric cars
5. CNG tanks to account for the largest market
   share, in terms of value and volume
6. Metal accounted for the largest share in terms of
   value and volume
7. Type 1 tanks accounted for the largest market
   share in terms of value and volume
8. APAC held the largest market share in the CNG,
   RNG, and hydrogen tanks market
9. CNG tanks comprise a major share in terms of
   value and volume.
10. Metal-based tanks account for the largest market
    share in the global CNG, RNG, and hydrogen tanks
    market in terms of value and volume.
11. Type 1 dominates the global CNG, RNG, and
    hydrogen tanks market in terms of value and
    volume
12. 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.

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• Infographics Repots

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• Key Vendors

Vendors

• Quantum Fuel Systems LLC. (US)
• 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)

• Worthington Industries, Inc. (US)
• Faber Industrie, SpA (Italy)
• Luxfer Group (UK)
• Hexagon Composites ASA (Norway)
• Everest Kanto Cylinders Ltd. (India).

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• Major Regions

• North America
• APAC
• Europe
• Latin America
• MAE

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• Recent Developments

• In March 2021, Luxfer Group completed the
  acquisition of SCI (Structural Composites
  Industries, which is a business u of Worthington
  Industries). This acquisition is aimed to enhance
  the capabilities of the hydrogen and CNG gas
  businesses of Luxfer Group.
• In January 2021, Worthington Industries, Inc.
  announced the acquisition of PTEC Pressure
  Technology GmbH. This acquisition is expected to
  develop the system capabilities of Worthington
  Industries, Inc.
• In July 2020, Hexagon Purus received the first
  contract from a major US hydrogen fuel supplier
  to provide hydrogen transport modules in the US.
  The purchased transport modules are composed of
  Hexagons proprietary, lightweight, Type 4, 500
  bar pressure vessels.
• In April 2019, Faber Industries SpA has achieved
  0.75 kg/l for CNG Type 1 cylinders by using
  advanced steel grade. The typical type 1 Fabers
  cylinder has a weight efficiency of 0.84 kg/l.
  This has become the worlds most appreciated and
  adopted product in CNG vehicles market.
• In April 2018, Worthington Industries introduced
  two new CNG fuel system products for medium and
  heavy truck markets. These additions further
  expand one of the widest CNG fuel system
  portfolios in the medium and heavy-duty markets.
• In June 2017, Worthington Industries acquired
  Amtrol, a leading manufacturer of pressure
  cylinders and water system tanks. This
  acquisition has strengthened Worthingtons
  industrial gas and consumer products businesses
  and complements the refrigerant cylinder
  manufacturing capabilities.

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• Research Coverage

This report covers the global CNG, RNG, and
hydrogen tanks market and forecasts the market
size until 2026. It includes the following market
segmentation gas type(CNG, RNG, hydrogen),
material (metal, carbon fiber, glass fiber), tank
type (type 1, type 2, type 3, type 4),
application (fuel tank, transportation tank) and
Region (Europe, North America, APAC, Latin
America, and MEA). Porters Five Forces Analysis,
along with the drivers, restraints,
opportunities, and challenges, have been
discussed in the report. It also provides company
profiles and competitive strategies adopted by
the major players in the global CNG, RNG, and
hydrogen tanks market.
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• Key Benefits of Buying the Report

The report is expected to help market leaders/new
entrants in this market in the following ways
1. This report segments the global CNG, RNG,
and hydrogen tanks market comprehensively. It
provides the closest approximations of the
revenues for the overall market and the
sub-segments across different verticals and
regions. 2. The report helps stakeholders
understand the pulse of the CNG, RNG, and
hydrogen tanks market and provides them with
information on key market drivers, restraints,
challenges, and opportunities. 3. This report
will help stakeholders to understand competitors
better and gain more insights to better their
position in their businesses. The competitive
landscape section includes the competitor
ecosystem, new product development, agreement,
contract, expansion and acquisition.
11

• Reasons to Buy the Report

The report will help leaders/new entrants in this
market by providing them with the closest
approximations of the revenues for the overall
CNG, RNG, and hydrogen tanks market and the
sub-segments. This report will help stakeholders
to understand the competitive landscape and gain
more insights and position their businesses and
market strategies in a better way.
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13

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14

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