CNG, RNG, and Hydrogen Tanks Market by Gas Type (CNG, RNG, Hydrogen), Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Type 1, Type 2, Type 3, Type 4), Application (Fuel, Transportation), and Region

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

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

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

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

5. Infographics Repots

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

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 acquis
ition 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 trans
port modules in the US. The purchased transport modules are composed of Hexagon’s proprietary, lightweight, Type 4, 50
0 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 ty
pical type 1 Faber’s cylinder has a weight efficiency of 0.84 kg/l. This has become the world’s most appreciated and adopte
d 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 tan
ks. 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 mar
ket size until 2026. It includes the following market segmentation – gas type(CNG, RNG, hy
drogen), 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, opportu
nities, 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 hydro
gen 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-s
egments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the CNG, RNG, and hydrogen tank
s market and provides them with information on key market drivers, restraints, challenges, a
nd 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 c
ompetitor ecosystem, new product development, agreement, contract, expansion and acqui
sition.

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 insi
ghts and position their businesses and market strategies in a better way.

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