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CNG, RNG, and Hydrogen Tanks Market Trends Size & Share - Recent Developments

CNG, RNG, and Hydrogen Tanks Market Industry Trends Size & Share - Recent Developments

KailashSuryawanshi
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CNG, RNG, and Hydrogen Tanks Market Trends Size & Share - Recent Developments

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  1. CNG, RNG, and Hydrogen Tanks Market worth $3.4 billion by 2026

  2. Scope of The Report The research report categorizes the CNG, RNG, and Hydrogen Tanks Market to forecast the revenues and analyse the trends in each of the following subsegments : • Metal • Carbon Fiber • Glass Fiber • Fuel • Transportation • CNG • RNG • Hydrogen By Tank Type And More… By Type • Type 1 • Type 2 • Type 3 • Type 4 By Application By Material Type

  3. Key Segments Any major development which can change the business landscape as well as market forecasts 1 2 Addition/refinement in segmentation - increase in depth or width of segmentation 3 Updated financial information/product portfolio of players 4 Updated market developments of profiled players 5 Any new data points/analysis (frameworks) which were not present in previous version of the report

  4. Market Growth Rate Drivers: Increasing tax incentives for CNG vehicles and infrastructure Restraints: High cost of composite material tanks and regulatory approvals Opportunities: Development of low-weight transportation tanks Challenges: Already well-established infrastructure for electric cars CNG tanks to account for the largest market share, in terms of value and volume Metal accounted for the largest share in terms of value and volume Type 1 tanks accounted for the largest market share in terms of value and volume APAC held the largest market share in the CNG, RNG, and hydrogen tanks market CNG tanks comprise a major share in terms of value and volume. Metal-based tanks account for the largest market share in the global CNG, RNG, and hydrogen tanks market in terms of value and volume. Type 1 dominates the global CNG, RNG, and hydrogen tanks market in terms of value and volume Fuel tank application dominates the market in the global CNG, RNG, and hydrogen tanks market during the forecast period in terms of value and volume. APAC is expected to account for the largest market share in the CNG, RNG, and hydrogen tanks market during the forecast period. 2026 2021 Market Size of $2.1 Billion Market Size of $3.4 Billion

  5. Infographics Repots

  6. Key Vendors Vendors • Quantum Fuel Systems LLC. (US) • Praxair Technologies Inc. (US) • Avanco Group (Germany) • Xinyi Beijing Tianhai Industry Co. Ltd. (China) • Lianyungang ZhongfuLianzhong Composites Group Co. Ltd. (China) • Faber IndustrieSpA (Italy) • Worthington Industries, Inc. (US) • Faber Industrie, SpA (Italy) • Luxfer Group (UK) • Hexagon Composites ASA (Norway) • Everest Kanto Cylinders Ltd. (India). View Report Here - https://www.marketsandmarkets.com/Market-Reports/cng-rng-hydrogen-tanks-market-222605141.html

  7. Major Regions • North America • APAC • Europe • Latin America • MAE

  8. Recent Developments • In March 2021, Luxfer Group completed the acquisition of SCI (Structural Composites Industries, which is a business u of Worthington Industries). This acquisition is aimed to enhance the capabilities of the hydrogen and CNG gas businesses of Luxfer Group. • In January 2021, Worthington Industries, Inc. announced the acquisition of PTEC Pressure Technology GmbH. This acquisition is expected to develop the system capabilities of Worthington Industries, Inc. • In July 2020, Hexagon Purus received the first contract from a major US hydrogen fuel supplier to provide hydrogen transport modules in the US. The purchased transport modules are composed of Hexagon’s proprietary, lightweight, Type 4, 500 bar pressure vessels. • In April 2019, Faber Industries SpA has achieved 0.75 kg/l for CNG Type 1 cylinders by using advanced steel grade. The typical type 1 Faber’s cylinder has a weight efficiency of 0.84 kg/l. This has become the world’s most appreciated and adopted product in CNG vehicles market. • In April 2018, Worthington Industries introduced two new CNG fuel system products for medium and heavy truck markets. These additions further expand one of the widest CNG fuel system portfolios in the medium and heavy-duty markets. • In June 2017, Worthington Industries acquired Amtrol, a leading manufacturer of pressure cylinders and water system tanks. This acquisition has strengthened Worthington’s industrial gas and consumer products businesses and complements the refrigerant cylinder manufacturing capabilities.

  9. Research Coverage This report covers the global CNG, RNG, and hydrogen tanks market and forecasts the market size until 2026. It includes the following market segmentation – gas type(CNG, RNG, hydrogen), material (metal, carbon fiber, glass fiber), tank type (type 1, type 2, type 3, type 4), application (fuel tank, transportation tank) and Region (Europe, North America, APAC, Latin America, and MEA). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global CNG, RNG, and hydrogen tanks market.

  10. Key Benefits of Buying the Report The report is expected to help market leaders/new entrants in this market in the following ways: 1. This report segments the global CNG, RNG, and hydrogen tanks market comprehensively. It provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions. 2. The report helps stakeholders understand the pulse of the CNG, RNG, and hydrogen tanks market and provides them with information on key market drivers, restraints, challenges, and opportunities. 3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, contract, expansion and acquisition.

  11. Reasons to Buy the Report The report will help leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall CNG, RNG, and hydrogen tanks market and the sub-segments. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.

  12. MarketsandMarkets’ Value Proposition How are we different? • Most-detailed market segmentation in industry • In-depth analysis of patents & profiles of key market players providing a competitive landscape • Market data for segments such as technologies, services & applications across geographies • High level analysis of major market segments and identification of opportunities

  13. MarketsandMarkets’ Delivery Model Here's how we can help you... • Research coverage can be a wide range in varied or niche categories in the published data or custom-made as per client's projects • Assess New Product Development from inception to launch • Optimize investments in established brands and recommend new approaches in global territories • Discover potential in new geographical markets and analyze how to successfully expand into them • Analyze the Challenges, Opportunities, Market structures, Drivers and Competitive Landscape

  14. MarketsandMarkets’ Our Expertise Our Expertise • Compelling Business cases Market size Estimations • Company & Market Best Practices • Entry or Go-To-Market strategies • Market Dynamics, Positioning and Segmentations • Competitive Landscaping and Benchmarking • Opportunity Analysis • Economic Forecasting • Industry-specific Technology solutions • Roadmap Analysis

  15. Stay in Touch Our Report Covers – Market Scenarios, Vendor landscape & Industry Road Maps. Get Free 10% Customization in this report sales@marketsandmarkets.com Or you can visit us: https://www.marketsandmarkets.com/ Corporate Headquarters MarketsandMarkets™ Research Private Ltd. Tower B5, office 101,Magarpatta SEZ,Hadapsar, Pune-411013, India+1-888-600-6441 USA address MarketsandMarkets™ INC.630 Dundee Road Suite 430 Northbrook, IL 60062 USA : +1-888-600-6441

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