The document summarizes the global composite cylinders market from 2017 to 2022. It is expected to reach $968 million by 2022, growing at a 7.2% compound annual growth rate. The market is segmented by end use, tank type, fiber type, and region. Major companies in the industry include Luxfer Gas Cylinder, Hexagon Composites, and Worthington Cylinders. The key driver of industry growth is the increasing demand for lightweight cylinders with higher pressure requirements and gas carrying capacity.

1. The Global Composite Cylinders Market 2017-2022:
Trends, Forecast, and Opportunity Analysis
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2. Industry Profiles Snapshot
Major Parameter Description
Market Segments by End use
Industry
Gas carriers and storage, transportation, life support, recreation and others
Market Segments by Tank
Type
Type II, Type III, Type IV
Market Segments by Fiber
Type
Glass Fiber Composites, Carbon Fiber Composites and Aramid Fiber
Composites
Market Segments by Region North America, Europe, Asia Pacific, and the Rest of the World
Top Companies Name
Luxfer Gas Cylinder, Hexagon Composites ASA, Quantum Technologies,
Worthington Cylinders, Time Technoplast, Faber Industries S.p.A., Beijing
Tianhai Industry Co., and Ullit
Trend Growth Rate and
CAGR
7.2%
Key Industry Forecast
The global composite cylinder market is expected to reach an estimated $968
million by 2022 and it is forecast to grow at a CAGR of 7.2% from 2017 to
2022
Key Industry Driver
Driver: Increasing number of natural gas vehicles (NGVs) and growing
demand for lightweight cylinders with higher pressure requirement and
greater gas carrying capacity per cylinder.
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3. Industry Overview
Market Size
• The global composite cylinder market is
expected to reach an estimated $968
million by 2022 and it is forecast to grow at
a CAGR of 7.2% from 2017 to 2022.
• Emerging trends which have a direct impact on
the dynamics of the industry include the
increase in green fleet and development of
type V tanks.
Market Size (2022) $968 Million
CAGR (2017-22) 7.2%
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Industry Performance : Forecast