Growth Opportunities in Global Automotive Composite CNG Tank Market 2010-2015: Trends,
Forecast and Market Analysis Published: March 2010 Total 130 pages, 90 figures
and 4 tables.
CNG is natural gas that has been compressed into a high-pressure container for transportation
or storage. Initially the high-pressure cylinders used to store the natural gas
were manufactured and tested in accordance with the industrial cylinder standards.
High pressure composite vessels were introduced more than 70 years before and were
especially developed for space and military applications. The experimentation of
composite vessels started in the 50s but the first high pressure vessels used for
space and military applications started actually in the 60s in the US. In the late
1980’s, experimental applications of composite reinforced plastic liners in CNG
service occurred in Sweden, Russia and France. Following the development of natural
gas vehicle cylinder standards in North America, fully-wrapped designs with relatively
thin aluminum liners or plastic liners reinforced with a full wrapping of glass
fiber and/or carbon fiber reinforcement were introduced into CNG service commencing
in 1992.
According to Lucintel’s report "Growth Opportunities in Global Automotive
Composite CNG Tank Market 2010-2015: Trends, Forecast and Market Analysis
" Composites in CNG tank market is expected to grow at double
digit rate in coming five years with focus on weight reduction, fuel efficiency
and better vehicle performance. Over the next 5 years, total composites consumption
in CNG Tank market is expected to continue strong a growth momentum
of 10% CAGR i.e. by 2015, and CNG composites tank market is estimated to grow at
a CAGR of 15%. The end product market is expected to reach above $120 M by 2015.
Composites CNG tank market holds promising present and future for
light weight tanks with an increased focus on environmental performance and fuel
efficiency. Traditional tank manufacturers are repositioning their companies by
customizing and widening their product offering. Heavy Duty Vehicles are the most
significant application of composites tanks but Light Duty Vehicles are gaining
popularity and expected to grow with double digit growth rate. Significant regional
shift is taking place in the overall CNG tank market; this new dimension is likely
to provide tremendous growth to regional players and existing companies are expected
to face fierce competition in the coming time.
This unique report from Lucintel will provide you with valuable information, insights
and tools needed to identify new growth opportunities and operate your business
successfully in CNG tank market. This report will save your hundreds
of hour’s personal research time and will significantly benefit you in expanding
your business in this market. In today’s stringent economy, you need every advantage
that you can find.
To make business, investment, or strategic decisions, you need timely and adequate
information. This market report fulfills this core need and is an indispensable
reference guide for multi-national material suppliers, product manufacturers, investors,
executives, distributors and many more, who are dealing with the composites market.
Some of the features of this market report are:
- Market size of Composites CNG tank market
by value & volume shipment.
- Composite shipment volumes across various types of tanks
,i.e. type-II,III & IV
- Different high potential application areas of composites in
LDV’s, HDV’s & other vehicles.
- Major growth drivers for each of different type of tanks
- Trend (2004-2009) and forecast (2010-2015) for
composites market in CNG tank with the material of choice for the tank manufacturers,
growing segment for CNG tanks.
- Strength and Weakness of each of the composites market.
- Regional breakdown has been provided in the report.
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please click on Automotive Market
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