Japan Automotive for Composite CNG Tanks Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.6 Billion by 2030, growing at a CAGR of 9.8% from 2024 to 2030.
The Japan Automotive for Composite CNG Tanks Market has been experiencing significant growth as industries across the country increasingly adopt compressed natural gas (CNG) vehicles. With rising environmental concerns and the push for sustainable energy solutions, composite CNG tanks are emerging as a preferred choice for automotive manufacturers. The increasing demand for lightweight, durable, and cost-effective tanks in CNG-powered vehicles is driving innovation in the market.
Automotive for Composite CNG Tanks Market growth is largely fueled by the stringent regulations on emissions and the growing focus on reducing carbon footprints. Composite CNG tanks, made from carbon fiber and other lightweight materials, offer superior strength and lighter weight compared to traditional steel tanks. This makes them a popular choice in vehicles that need to carry high-pressure CNG. Additionally, these tanks are resistant to corrosion, which further boosts their appeal in industries requiring reliable and long-lasting products.
In Japan, industries such as transportation, logistics, and public transportation are showing increasing interest in switching to CNG-powered vehicles, which, in turn, escalates the demand for automotive composite CNG tanks. The automotive sector, in particular, is keen on adopting these tanks for their ability to reduce vehicle weight while maintaining safety and performance standards. As a result, the composite CNG tanks market is poised to expand as more Japanese automotive manufacturers opt for eco-friendly alternatives to conventional fuel systems.
The need for composite CNG tanks has also been driven by the government's efforts to promote alternative fuel vehicles. Policies such as tax incentives, fuel subsidies, and regulatory support encourage industries to move towards green technologies. As Japan’s automotive sector increasingly focuses on creating sustainable, low-emission vehicles, the demand for innovative fuel storage solutions, like composite CNG tanks, is expected to rise.
Moreover, the continuous improvement in tank design and manufacturing processes has helped in reducing costs and improving the overall efficiency of composite CNG tanks. This is expected to further drive their adoption, particularly among smaller businesses looking to transition to CNG-powered fleets. As industries look for more economical and environmentally friendly fuel options, the Automotive for Composite CNG Tanks Market is set to see continued expansion in Japan.
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Beijing Tianhai Industry
Faber Industrie
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Quantum Technologies
Xperion
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Japan Automotive for Composite CNG Tanks Market
Type 1: Steel
Type 2: Composite overwrapped
Type 3: Fully wrapped composite
Type 4: Type 1 composite
Passenger Vehicles
Light Commercial Vehicles (LCV)
Heavy-Duty Vehicles (HDV)
Public Transportation (Buses)
Filament Winding
Resin Transfer Molding (RTM)
Vacuum-Assisted Resin Infusion (VARI)
Autoclave Process
Low-Pressure Tanks (up to 20 MPa)
Medium-Pressure Tanks (21 MPa to 27 MPa)
High-Pressure Tanks (above 27 MPa)
Automotive Manufacturers
Fuel Providers
Aftermarket Services
Research and Development (R&D) Facilities
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the Japan Automotive for Composite CNG Tanks Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Japan Automotive for Composite CNG Tanks Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Japan Automotive for Composite CNG Tanks Market, By Type
6. Japan Automotive for Composite CNG Tanks Market, By Application
7. Japan Automotive for Composite CNG Tanks Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. Japan Automotive for Composite CNG Tanks Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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