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City of Industry, CA -- (SBWIRE) -- 06/29/2018 -- This report studies the global Composite CNG Tanks market status and forecast, categorizes the global Composite CNG Tanks market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
Compressed natural gas (CNG) (methane stored at high pressure) is a fuel which can be used in place of gasoline (petrol), Diesel fuel and propane/LPG. CNG combustion produces fewer undesirable gases than the fuels mentioned above. It is safer than other fuels in the event of a spill, because natural gas is lighter than air and disperses quickly when released. CNG may be found above oil deposits, or may be collected from landfills or wastewater treatment plants where it is known as biogas.
Heavy-duty vehicles are expected to generate a huge demand for composite CNG tanks, as many fleet operators are switching towards CNG-powered vehicles to reduce their operating cost.
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The global Composite CNG Tanks market is valued at million US$ in 2017 and will reach million US$ by the end of 2025, growing at a CAGR during 2018-2025.
The major players covered in this report
Luxfer Gas Cylinders
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering
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