Asia-Pacific to Lead Global Composite Cylinders Market till 2024
Technological advancements
and favorable government initiatives to fuel global composite cylinders market
through 2024
According
to TechSci Research report, “Global Composite
Cylinders Market By Product Type, By Outer Casing Material, By End Use
Industry, By Region, Competition, Forecast & Opportunities, 2024”, global
composite cylinders market is projected to surpass $ 921 million by 2024,
backed by growing demand for lightweight, non-corrosive and explosion proof
cylinders. Moreover, increasing end user preference for composite cylinders due
to their ease of handling and partial visibility is expected to boost the
market. The need for gas from a portable source is positively impacting growth
of global composite cylinders market. Furthermore, composite cylinders are
available with colorful outer casing and barcode application, which helps suppliers
in handling and tracking cylinders more efficiently, thereby increasing the
demand for composite cylinders all across the globe.
Browse 153 market data Figures spread through 110 Pages and an in-depth TOC on "Global Composite Cylinders Market"
https://www.techsciresearch.com/report/composite-cylinders-market/3966.html
By product
type, the market for type IV category captured the largest market share in 2018
and is expected to continue to account for majority of the global market for
composite cylinders during the forecast period, backed by the presence of most
of the LPG cylinder manufacturing companies in this category. Moreover, type IV
composite cylinders provide higher burst pressure and maximum weight reduction
than its counterparts. Asia-Pacific is the largest market for composite
cylinders, globally, on account of higher acceptance level and increasing use
of lightweight cylinders in the region. Regions like, South America and North
America are expected to exhibit sluggish growth in the global market for
composite cylinders.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=3966
Customers can also request for 10% free customization on this report.
“Demand for composite cylinders is
growing, owing to rising demand for lightweight and easily portable
alternatives, increasing number of natural gas vehicles (NGVs) and growing
demand for greater gas carrying capacity per cylinder, globally. Moreover, composite
cylinders are manufactured by using materials that are recyclable, thereby
reducing the cost of manufacturing and maintenance. All these factors would
offer lucrative growth opportunities to global composite cylinder market
players over the course of next five years.” said, Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Global
Composite Cylinders Market By Product Type, By Outer Casing Material, By End
Use Industry, By Region, Competition, Forecast & Opportunities, 2024” has
evaluated the future growth potential of global composite cylinders market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global composite cylinders market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr.
Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]