CNG, RNG and hydrogen tanks market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to CNG, RNG and hydrogen tanks market.
CNG, RNG, and hydrogen tanks market will reach an estimated valuation of USD 1.80 billion by 2028, while registering this growth at a rate of 8.20% for the forecast period of 2021 to 2028. CNG, RNG, and hydrogen tanks market report analyses the growth, which is currently being growing due to the increasing use of natural gas in automotive industry.
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Renewable natural gas (RNG), also known as biomethane, is a pipeline-quality vehicle fuel generated by anaerobic digestion from organic materials, such as waste from landfills and livestock. Compressed natural gas is a fuel which can be used instead of petrol, diesel and liquefied petroleum gas (LPG). The combustion of CNG produces less undesirable gases than the fuels mentioned above.
The major players covered in the CNG, RNG and hydrogen tanks market report are Worthington Industries, Inc.; Luxfer Gas Cylinders; Hexagon Composites ASA; Quantum Fuel Systems LLC.; EKC; Praxair S.T. Technology, Inc.; AVANCO GmbH; Beijing Tianhai Industry co.,Ltd.; Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd; FABER INDUSTRIE SPA; Ullit; Agility Fuel Solutions; Rama Cylinders Private Limited Mumbai India.; JPM Group; SAHUWALA CYLINDERS (P) LIMITED; Euro India Cylinders Limited; Cevotec GmbH; NPROXX; Steelhead Composites, INC.; Jiangsu Qiulin Special Equipment; among other domestic and global players
The growing demand for demand for CNG, hydrogen, and RNG tanks across the globe, rising environmental awareness to increase natural gas demand, increasing tax incentives for CNG vehicles and infrastructure, rising demand of the product as they are durable, cheaper, and most importantly eco-friendly, increasing adoption of improved manufacturing technology for tanks are some of the major as well as vital factors which will likely to augment the growth of the CNG, RNG, and hydrogen tanks market in the projected timeframe of 2021-2028. On the other hand, rising emergence of lightweight composite material CNG cylinders along with increasing development of low-weight transportation tanks which will further contribute by generating massive opportunities that will lead to the growth of the CNG, RNG, and hydrogen tanks market in the above mentioned projected timeframe.
The countries covered in the CNG, RNG and hydrogen tanks market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Global CNG, RNG, and Hydrogen Tanks Market Scope and Market Size
Global CNG, RNG, and hydrogen tanks market is segmented on the basis of gas type, material, tank type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of gas type, the CNG, RNG, and hydrogen tanks market is segmented into compressed natural gas (CNG), renewable natural gas (RNG), and hydrogen.
- Based on material, the CNG, RNG, and hydrogen tanks market is segmented into metal, glass fiber, and carbon fiber.
- On the basis of tank type, the CNG, RNG, and hydrogen tanks market is segmented into type 1, type 2, type 3, and type 4.
- CNG, RNG, and hydrogen tanks market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for CNG, RNG, and hydrogen tanks market includes fuel tank, and transportation tank. Fuel tank has been further segmented into light-duty vehicles, medium-duty vehicles, and heavy-duty vehicles.
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