Global CNG Cylinders Market Overview:
With the rising environmental issues such as climatic changes and depleting ozone layer, many nations across the globe have deployed CNG in power production. Global warming which is a major environmental issue because of the increased level of greenhouse gases. These gases occur naturally in the atmosphere and reductions of these gases have been a major concern globally. The rising level of these gases is due to the burning of fossil fuels. CNG (Compressed Natural Gas) is a fuel which can be used in place of gasoline, diesel fuel, and propane/LPG. Over the years the wide gap between oil and natural gas has resulted in fuel conversions and has driven the market of CNG cylinders. Countries like China, India, and Pakistan use CNG as an alternative fuel as these countries are dependent on other countries for oil to meet their needs. The CNG usage in place of fossil fuel emits less harmful pollutants, in turn, reduces the concentration of pollutants in the atmosphere. The factors like increasing gasoline and diesel fuel prices, reducing the cost of natural gas, rising environmental concern, and rising demand in Asia-Pacific is making CNG a viable option for the automotive industry.
- Increasing number of natural gas vehicles (NGVs)
- Lower prices of natural gas than gasoline and diesel
- Increasing consumerís environmental awareness.
- Increase in the number of green fleet and development of type V tanks.
- Increase in the price of composite cylinders
- Limited refueling infrastructure.
- High demand in developing countries due to low-cost CNG against increasing prices of other transportation fuels.
- Increasing price of raw materials such as metals, glass fiber, carbon fiber used in the manufacturing of CNG cylinders
- Regulatory policies which vary in many countries may restrict the growth of CNG market.
Some of the key players profiled in the report are Beijing Tianhai Industry (China), Quantum Tech (United States), Luxfer Group (U.K), Lianzhong Composites (China), Ullit (United States), Worthington Industries (United States), CIMC ENRIC (U.K), Faber Industries (United States), Praxair Tech. (United States) and Everest Kanto Cylinders (India). Additionally, following companies can also be profiled that are part of our coverage like Sinomatech (China), Hexagon Composites (United States) and Rama Cylinders (India). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global CNG Cylinders market by 2025. Considering Market by Most applied CNG cylinders, the sub-segment i.e. Light Duty Vehicles will boost the CNG Cylinders market. Considering Market by Material, the sub-segment i.e. Metal will boost the CNG Cylinders market. Considering Market by Source, the sub-segment i.e. Associated Gas will boost the CNG Cylinders market.
Technical Tools like lights, mirrors and endoscopes are being used in order to view those parts of CNG cylinders that might be covered due to the manner in which it is mounted either on the exterior or interior of the vehicle.
According to Natural Gas for Transportation Industry, an amendment to R110 in April 2018, Vehicle manufacturers will be required to bring in new-style cylinder covers that can be opened without tools by national inspection authorities by September 2021.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be provided prior to purchase
The top-down and bottom-up approaches are used to estimate and validate the size of the Global CNG Cylinders market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in CNG Cylinders market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes CNG Cylinder manufacturers, Government agency and Distributors and Suppliers.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.