Global CNG, RNG, and Hydrogen Tanks Market

Global CNG, RNG, and Hydrogen Tanks Market Size, Trends, Analysis with COVID-19 Impact - Forecasts 2026 By Gas Type (RNG, CNG, Hydrogen), By Material (Carbon Fiber, Metal, Glass Fiber), By Tank Type (Type 1, Type 2, Type 3, Type 4), By Application (Fuel Tank [Light-Duty Vehicles, Medium-Duty Vehicles, Heavy-Duty Vehicles], Transportation Tank), By Region (North America, Europe, Asia Pacific and Rest of the World), Company Market Share Analysis; and Competitor Analysis

Category Electronics, Semiconductors and Information & Communication Technology

Format

This report was recently updated on April 17 2024 with the latest and most recent market numbers

CNG, RNG, and Hydrogen Tanks Market Insights

The global CNG, RNG, and Hydrogen Tanks market will propel at a high CAGR over the coming years from 2020 to 2026. Due to low greenhouse gas emissions (GHG) compressed natural gas evolved as a replacement for transport fuel for diesel, LPG, and gasoline. The increasing usage of natural gas in the automotive industry and growing demand for compressed natural gas-driven vehicles are driving the market growth during the forecast period. The manufacturers are focusing on the production of low-weight cargo tanks. The rising government investments for expanding and the development of transportation sector operations drive the market growth. Moreover, the rising demand for hydrogen-powered cars which are similar to electric cars, and the advanced tools for developing hydrogen tanks are driving the market growth. However, stringent government rules and regulations, and fluctuation in prices of oil on RNG, hydrogen, and CNG tanks are some of the factors likely to restrain the market growth during the forecast period.

CNG, RNG, and Hydrogen Tanks Market: By Gas Type

Based on the study of the gas type, the market is fragmented into three segments namely; compressed natural gas, hydrogen, and RNG. The largest share contributed in this market segment is the compressed natural gas segment in terms of value and volume. The development of CNG as low-cost fuel clubbed with the increasing energy demands is projected to have a positive impact on the growth of the global CNG market. It costs less than conventional fuels like petrol and diesel and produces energy equivalent when combusted.

CNG, RNG, and Hydrogen Tanks Market: By Material

Based on the study of material, the global RNG, CNG, and hydrogen tanks market is bifurcated into carbon fiber, metal, and glass fiber. The largest share contributed in this market segment is the metal segment in terms of value and volume. This is due to the cheapest raw material and ease in manufacturing, which are some of the factors expected to propel the market growth.

CNG, RNG, and Hydrogen Tanks Market: By Tank Type

Based on the study of tank type, this market is segmented into four segments namely, type 1, type 2, type 3, and type 4. The type 1 segment has accounted to be the largest market share in terms of value and volume during the forecast period. This is due to type 1 tanks are cheaper, and the rising demand for this tank type from different countries including Iran, Brazil, and India, among others. Furthermore, the type 4 compressed natural gas tanks are projected to grow at a high compound annual growth rate during the forecast period due to their lightweight. Type 4 CNG tanks allow large amounts of natural gas to be stored and transported; as it is compressed into high-pressure tanks at usually 200 to 250 bar pressures.

CNG, RNG, and Hydrogen Tanks Market: By Application

Based on the study of the application, this market is segregated into the fuel tank and transportation tank. The fuel tank segment is expected to be the fastest-growing segment at a high CAGR during the forecast period. This segmented is further segregated into three sub-segments namely; light-duty vehicles, medium-duty vehicles, and heavy-duty vehicles. Light-duty vehicles (LDVs) accounted to be the fast-growing sub-segment during the forecast period due to its growing demand for clean fuels in the automobiles, low maintenance costs clubbed with the rising efficiency of vehicles, which are the factors to drive the fuel tank segmental market.

CNG, RNG, and Hydrogen Tanks Market: By Region

Based on the region, the global CNG, RNG, and hydrogen tanks market is split into North America, Europe, MEA, CSA, and Asia-Pacific. The largest revenue contributor in the market is the Asia-Pacific region during the forecast period. The growing use of energy-efficient products and the rising demand for CNG tanks are driving the market growth for CNG, RNG, and hydrogen tanks. Furthermore, Central & South America is witnessing to be the fastest-growing region at a high CAGR during the forecast period. This is due to demand from taxicab coupled with rising consumer expenditure, which are some of the significant factors driving the market growth in the region.

CNG, RNG, and Hydrogen Tanks Market Share & Competitor Analysis

The main key players operating in this market are Worthington Industries, Inc., Hexagon Composites ASA, Everest Kanto Cylinders Ltd., Avanco Group, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd., Ullit SA, Rama Cylinders Private Limited, Sahuwala Cylinders Ltd, Cevotec GmbH, Steelhead Composites, Inc., Luxfer Group, Quantum Fuel Systems Llc., Praxair Technologies Inc., Beijing Tianhai Industry Co. Ltd, Faber Industrie Spa, Agility Fuel Solutions, Jpm Group, Euro India Cylinders Ltd, Nproxx, and Jiangsu Qiulin Special Energy Equipment Joint Stock among others.

Please note: This is not an exhaustive list of companies profiled in the report.

In June 2020, Hexagon Composites ASA’s subsidiary company Hexagon Purus received its first contract from one of the major suppliers of hydrogen fuel supplier in the U.S. to offer hydrogen transport modules in the U.S.

Check the Press Release on Global CNG, RNG, and Hydrogen Tanks Market Report

CNG, RNG, and Hydrogen Market: By Material

Introduction
1. CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
Carbon Fiber
1. Carbon Fiber: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Glass Fiber
1. Glass Fiber: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Carbon
1. Carbon: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)

CNG, RNG, and Hydrogen Market: By Gas Type

Introduction
1. CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
RNG
1. RNG: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Hydrogen
1. Hydrogen: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
CNG
1. CNG: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)

CNG, RNG, and Hydrogen Market: By Application

On the basis of application, the global CNG, RNG, and Hydrogen market is segmented into Fuel Tank, and Transportation Tank. The report contains quantitative insights about the following:

Introduction
1. CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
Fuel Tank
1. Fuel Tank: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
  1. Light-Duty Vehicles: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
  2. Medium-Duty Vehicles: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
  3. Heavy-Duty Vehicles: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Transportation Tank
1. Transportation Tank: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)

CNG, RNG, and Hydrogen Market: By Tank Type

Introduction
1. CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
Type 1
1. Type 1: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Type 2
1. Type 2: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Type 3
1. Type 3: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)
Type 4
1. Type 4: CNG, RNG, and Hydrogen Market, 2018-2026 (USD Million)

CNG, RNG, and Hydrogen Market: By Region

Introduction
1. Global CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
North America
1. North America CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Material
    1. North America CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
  2. By Gas Type
    1. North America CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
  3. By Application
    1. North America CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
  4. By Tank Type
    1. North America CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
  5. By Country
    1. U.S
      1. By Material
        
        U.S CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        U.S CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        U.S CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        U.S CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    2. Canada.
      1. By Material
        
        Canada CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Canada CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Canada CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Canada CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    3. Mexico
      1. By Material
        
        Mexico CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Mexico CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Mexico CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Mexico CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
Europe
1. Europe CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Material
    1. Europe CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
  2. By Gas Type
    1. Europe CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
  3. By Application
    1. Europe CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
  4. By Tank Type
    1. Europe CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
  5. By Country
    1. Germany
      1. By Material
        
        Germany CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Germany CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Germany CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Germany CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    2. UK
      1. By Material
        
        UK CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        UK CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        UK CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        UK CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    3. France
      1. By Material
        
        France CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        France CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        France CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        France CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    4. Italy
      1. By Material
        
        Italy CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Italy CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Italy CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Italy CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    5. Rest Of Europe
      1. By Material
        
        Rest Of Europe CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Rest Of Europe CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Rest Of Europe CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Rest Of Europe CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
Asia Pacific
1. Asia Pacific CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Material
    1. Asia Pacific CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
  2. By Gas Type
    1. Asia Pacific CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
  3. By Application
    1. Asia Pacific CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
  4. By Tank Type
    1. Asia Pacific CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
  5. By Country
    1. China
      1. By Material
        
        China CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        China CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        China CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        China CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    2. Japan
      1. By Material
        
        Japan CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Japan CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Japan CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Japan CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    3. India
      1. By Material
        
        India CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        India CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        India CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        India CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    4. South Korea
      1. By Material
        
        South Korea CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        South Korea CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        South Korea CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        South Korea CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
Central & South America
1. Central & South America CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Material
    1. Central & South America CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
  2. By Gas Type
    1. Central & South America CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
  3. By Application
    1. Central & South America CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
  4. By Tank Type
    1. Central & South America CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
  5. By Country
    1. Brazil
      1. By Material
        
        Brazil CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Brazil CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Brazil CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Brazil CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
Middle East & Africa
1. Middle East & Africa CNG, RNG, and Hydrogen Market, Regional Analysis, 2018-2026 (USD Million)
  1. By Material
    1. Middle East & Africa CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
  2. By Gas Type
    1. Middle East & Africa CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
  3. By Application
    1. Middle East & Africa CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
  4. By Tank Type
    1. Middle East & Africa CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
  5. By Country
    1. Saudi Arabia
      1. By Material
        
        Saudi Arabia CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        Saudi Arabia CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        Saudi Arabia CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        Saudi Arabia CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)
    2. UAE
      1. By Material
        
        UAE CNG, RNG, and Hydrogen Market, By Material, 2018-2026 (USD Million)
      2. By Gas Type
        
        UAE CNG, RNG, and Hydrogen Market, By Gas Type, 2018-2026 (USD Million)
      3. By Application
        
        UAE CNG, RNG, and Hydrogen Market, By Application, 2018-2026 (USD Million)
      4. By Tank Type
        
        UAE CNG, RNG, and Hydrogen Market, By Tank Type, 2018-2026 (USD Million)

The global CNG, RNG, and Hydrogen Tanks Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the CNG, RNG, and Hydrogen Tanks Market.

CNG, RNG, and Hydrogen Tanks Market

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

CNG, RNG, and Hydrogen Tanks Market

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.

CNG, RNG, and Hydrogen Tanks Market