Automotive Compressed Natural Gas Cylinders Market size is estimated to be USD 1.2 Billion in 2024 and is expected to reach USD 3.5 Billion by 2033 at a CAGR of 12.5% from 2026 to 2033.
The Automotive Compressed Natural Gas (CNG) Cylinders Market was valued at approximately USD 2.8 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 8.6% from 2023 to 2030. The market growth is attributed to the increasing demand for eco friendly and cost effective alternatives to conventional fuels in the automotive industry. In 2022, North America held a substantial share of the market, with the region accounting for nearly 30% of the global market revenue, primarily driven by stringent emission regulations and government incentives to adopt CNG powered vehicles. Europe is also expected to witness significant growth, with an anticipated CAGR of 9.2% during the forecast period, owing to the rising emphasis on reducing carbon emissions and enhancing air quality standards in urban areas.
In terms of regional distribution, Asia Pacific is forecasted to experience the highest growth, with a CAGR of 10.1% from 2023 to 2030. This growth is largely driven by countries like India and China, where CNG powered vehicles are gaining traction due to their cost efficiency and environmental benefits. The Latin American market, particularly in countries like Argentina and Brazil, also plays a crucial role in the growth of the automotive CNG cylinders market. With the growing adoption of CNG as a fuel in the transportation sector, these regions present significant opportunities for market expansion. The Middle East and Africa are expected to see moderate growth, with an increasing focus on sustainable fuel solutions in the region’s automotive sector.
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Worthington Industries
Hexagon
Avanco
Faber
Ulit
Beijing Tianhai Industry
EKC
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. 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 Global Automotive Compressed Natural Gas Cylinders Market
Type 1 - Steel Cylinders
Type 2 - Composite Overwrapped Cylinders
Type 3 - Aluminum Lined Cylinders
Type 4 - Fully Composite Cylinders
Passenger Vehicles
Commercial Vehicles
Heavy-Duty Trucks
Buses
Public Transport
Logistics and Freight Transport
Municipal Services
Taxi Services
Low Capacity (up to 20 liters)
Medium Capacity (20 to 50 liters)
High Capacity (above 50 liters)
Low Pressure (up to 200 bar)
Medium Pressure (200 to 300 bar)
High Pressure (above 300 bar)
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Compressed Natural Gas Cylinders 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. Global Automotive Compressed Natural Gas Cylinders Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Compressed Natural Gas Cylinders Market, By Type
6. Global Automotive Compressed Natural Gas Cylinders Market, By Application
7. Global Automotive Compressed Natural Gas Cylinders Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Compressed Natural Gas Cylinders Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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