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According to a new market report published by Lucintel Cory Schneider Jersey , the future of the global composites cylinder market looks promising with opportunities in gas carriers & storage, transportation, life support, and recreation industries. The global composites cylinder market is expected to reach an estimated $981 million by 2024 with a CAGR of 5.5% from 2019 to 2024. The major drivers for this market are increasing number of natural gas vehicles (NGVs) and growing demand for lightweight cylinders with higher pressure requirement and greater gas carrying capacity per cylinder.
In this market, glass, carbon, and aramid composites are the major raw materials used for manufacturing type-II Kyle Palmieri Jersey , type-III, and type IV cylinders. Lucintel forecasts that type III cylinders will remain the largest segment by value and Type IV by volume. The type IV cylinder segment is expected to witness the highest growth over the forecast period due to the growing demand for lightweight cylinders.
Within composites cylinder market, transportation will remain the largest end use industry by value and gas carrier & storage by volume. Transportation segment is also expected to witness highest growth over the forecast period due to the expected growth in the demand for bulk transportation cylinders and unavailability of proper gas pipeline infrastructure.

North America is expected to remain the largest market for composites cylinder due to the higher acceptance level and increasing use of lightweight cylinders. North America is also expected to witness the highest growth rate during the forecast period due to the anticipated growth in the production of alternative fuel powered vehicles, and growing use of mobile pipelines for transportation of gas.
Emerging trend, which have direct impact on the dynamics of the industry, include development of type V tank, and increase in green fleet. Hexagon Composites Drew Stafford Jersey , Luxfer Gas Cylinder, Quantum Technologies, Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing Tianhai Industry Co., and Ullit are among the major suppliers of composites cylinder.
Lucintel Adam Henrique Jersey , a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global composites cylinder market by end use industry, by tank type, composites demand by fiber type, and region, and has come up with a comprehensive research report entitled 鈥淕rowth Opportunities in the Global Composites Cylinder Market 2019-2024: Trends, Forecast John Moore Jersey , and Opportunity Analysis.鈥?The Lucintel report serves as a catalyst for growth strategies as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global composites cylinder market by end use industry, tank type, composite demand by fiber type, and region as follows:
By end use Industry [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
鈥?Gas Carriers and Storage
鈥?Transportation
鈥?Life Support
鈥?Recreation and Others
By Tank Type [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
鈥?Type II
鈥?Type III
鈥?Type IV
By region [Volume (Thousand Unit) and $M shipment analysis from 2013 to 2024]:
鈥?North America
鈥?Europe
鈥?Rest of the World
Composite dby fiber type [Volume (Million lbs) and Value ($ Million) from 2013 to 2024]:
鈥?Glass Fiber Composites
鈥?Carbon Fiber Composites
鈥?Aramid Fiber Composites


This 139-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@ . Lucintel offerings include advanced materials reports Taylor Hall Jersey , composite materials market report, strategic growth consulting, market research due diligence and business strategy consulting.


About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis Will Butcher Jersey , growth consulting, M