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CNG, RNG, and Hydrogen Tanks Market

CNG, RNG, and Hydrogen Tanks Market Size and Segment By Gas Type (Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG))By Material Type (Metal, Carbon Fiber, Glass Fiber) By Tank Type (Type 1, Type 2, Type 3, Type 4) By Application (Fuel Tank, Transportation Tank), by Regions and Global Forecast 2023-2030

Report Id: SNS/C&M/2191 | July 2022 | Region: Global | 131 Pages

Report Scope & Overview:

CNG, RNG, and Hydrogen Tanks Market Size was valued at USD 2.59 billion in 2022 and is expected to reach USD 6.56 billion by 2030, and grow at a CAGR of 12.3% over the forecast period 2023-2030.

Renewable natural gas (RNG), which is also called bio-methane, is a refined biofuel that can be used in pipelines. It is made from organic materials like waste from landfills and livestock through a process called anaerobic digestion. Compressed natural gas is a fuel that can be used instead of gasoline, diesel fuel, and liquefied petroleum gas (LPG) because it gives off fewer harmful gases and is lighter than air and spreads out quickly when released.

CNG, RNG, and Hydrogen Tanks Market Revenue Graph

There are special tanks made of materials like metal, carbon, and glass that are used to store and move these gases and also hydrogen. CNG, RNG, and hydrogen tanks last longer, cost less, and are better for the environment. They are used for many different things and can mostly be put into different types of tanks based on the materials used to make them.

Market Dynamics:

Drivers:

  • Providing more tax breaks for CNG cars and infrastructure

Restraints:

  • High cost of tanks made of composite materials and government approvals

Opportunity:

  • Making transport tanks that aren't too heavy

Challenge:

  • Infrastructure for electric cars is already in place and working well.

Impact of Covid-19:

Due to a drop in natural gas and fuel cell electric vehicles, COVID-19 has hurt the demand for CNG, RNG, and hydrogen tanks all over the world. Also, lockdowns and travel bans have made it harder to move large amounts of CNG, RNG, and hydrogen tanks. But, according to the NGV database knowledge database, COVId-19 would only have short-term effects. In 2021, there would be more demand for natural fuels, which would lead to more demand for CNG, RNG, and hydrogen tanks.

Key Players:

Hexagon Composites ASA, Everest Kanto Cylinders Ltd.., Worthington Industries, Inc.,  Luxfer Group, Faber Industrie SpA, and other players.

Market Segment:

By Gas Type:

  • Compressed Natural Gas (CNG)

  • Hydrogen

  • Renewable Natural Gas (RNG)

By Material Type:

  • Metal

  • Carbon Fiber

  • Glass Fiber

By Tank Type:

  • Type 1

  • Type 2

  • Type 3

  • Type 4

By Application:

  • Fuel Tank

  • Transportation Tank

CNG, RNG, and Hydrogen Tanks Market Segment Pie Chart

Regional Analysis:

Countries like China, India, Pakistan, and Thailand have a high demand for CNG tanks because they have a lot of CNG infrastructure and more people are buying CNG cars. Japan and South Korea, on the other hand, are more focused on making a market for cars that run on hydrogen. The governments of these countries have made plans to become hydrogen economies, which is expected to drive the market for hydrogen tanks.

Some of the biggest companies in the CNG, RNG, and hydrogen tanks market are Worthington Industries, Inc., Luxfer Group, Hexagon Composites ASA, Quantum Fuel Systems LLC., Everest Kanto Cylinders Ltd. (Mumbai), Praxair Technologies Inc., Avanco Group (Germany), Xinyi Beijing Tianhai Industry Co. Ltd. (China), Lianyungang ZhongfuL Over the past five years, these players have grown in different ways, both naturally and artificially.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

CNG, RNG, and Hydrogen Tanks Market Report Scope:
Report Attributes Details
Market Size in 2022 US$ 2.59 Billion
Market Size by 2030 US$ 6.56 Billion
CAGR CAGR of 12.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Gas Type (Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG))
• By Material Type (Metal, Carbon Fiber, Glass Fiber)
• By Tank Type (Type 1, Type 2, Type 3, Type 4)
• By Application (Fuel Tank, Transportation Tank)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Hexagon Composites ASA, Everest Kanto Cylinders Ltd.., Worthington Industries, Inc.,  Luxfer Group, Faber Industrie SpA, and other players.
DRIVERS • Providing more tax breaks for CNG cars and infrastructure
Restraints • High cost of tanks made of composite materials and government approvals


Frequently Asked Questions (FAQ) :

Ans: Primary or secondary type of research done by this reports.

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Infrastructure for electric cars is already in place and working well are the challenges faced by the CNG, RNG, and Hydrogen Tanks Market.

 

Ans: Making transport tanks that aren't too heavy are the opportunity for CNG, RNG, and Hydrogen Tanks Market.

Ans: CNG, RNG, and Hydrogen Tanks Market Size was valued at USD 2.31 billion in 2021, and expected to reach USD 4.60 billion by 2028, and grow at a CAGR of 12.3 % over the forecast period 2022-2028.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8.CNG, RNG, and Hydrogen Tanks Market Segment, By Gas Type

8.1 Compressed Natural Gas (CNG)

8.2 Hydrogen

8.3 Renewable Natural Gas (RNG)

 

9.CNG, RNG, and Hydrogen Tanks Market Segment, By Material Type

9.1 Metal

9.2 Carbon Fiber

9.3 Glass Fiber

 

10.CNG, RNG, and Hydrogen Tanks Market Segment, By Tank Type

10.1 Type 1

10.2 Type 2

10.3 Type 3

10.4 Type 4

 

11.CNG, RNG, and Hydrogen Tanks Market Segment, By Application

11.1 Fuel Tank

11.2 Transportation Tank

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profile

13.1 Hexagon Composites ASA,

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2 Everest Kanto Cylinders Ltd.

13.3 Worthington Industries, Inc.

13.4 Luxfer Group

13.5 Faber Industrie, SpA

 

14.Competitive Landscape

14.1 Competitive Benchmark

14.2 Market Share analysis

14.3 Recent Developments

 

15. Conclusion

 

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Secondary Research

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