Los Angeles, CA -- (SBWire) -- 01/25/2019 --QY Research has recently published a report on the niche yet rapidly growing market, titled, "Global Composite Cylinders Industry Research Report, Growth Trends and Competitive Analysis 2019-2025," for the projected period of 8-years, i.e. between 2017 and 2025. According to this report, the global composite cylinders market is expected to show exponential Compound Annual Growth Rate during the projected period.
Composite Cylinder is a high pressure vessel that is made of a composite-polymer material and placed in a plastic body. The technology of manufacturing a modern composite cylinder is a very complex and high-tech process, so its cost is much higher than the cost of a metal analogue.
The global composite cylinders industry has a rather high concentration. The major manufacturers are concentrated in North America and Europe, such as Luxfer Gas Cylinder, Hexagon Composites, Aburi Composites, Faber Industrie and Worthington Cylinders. At present, Luxfer Gas Cylinder is the world leader, holding 17.76% revenue market share in 2017.
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Global market is expected to witness significant growth on account of rising applications, so in the next few years, composite cylinders consumption will show a trend of steady growth. In 2024 the consumption of composite cylinders is estimated to be 10327 K Un
The Composite Cylinders market was valued at 570 Million US$ in 2018 and is projected to reach 720 Million US$ by 2025, at a CAGR of 3.5% during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Composite Cylinders.
This study focuses on the production side and consumption side of Composite Cylinders, presents the global Composite Cylinders market size by manufacturers, regions, type and application, history breakdown data from 2014 to 2019, and forecast to 2025.
In terms of production side, this report researches the Composite Cylinders capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.
In terms of consumption side, this report focuses on the consumption of Composite Cylinders by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
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This report includes the following manufacturers; we can also add the other companies as you want.
Luxfer Gas Cylinder
Hexagon Composites
Sinoma
Aburi Composites
Faber Industrie
Worthington Cylinders
Dragerwerk
Santek
Time Technoplast
Rubis Caribbean
Ullit
Beijing Tianhai Industry
Market Segment by Product Type
Glass Fiber Composites
Carbon Fiber Composites
Market Segment by Application
Gas Carriers and Storage
Transportation
Life Support
Other
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Global Composite Cylinders Market to Reach Valuation of US $720 Mn by 2025 – QY Research, Inc.
The Composite Cylinders market was valued at 570 Million US$ in 2018 and is projected to reach 720 Million US$ by 2025, at a CAGR of 3.5% during the forecast period.