Compressed Natural Gas (CNG) Tank Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 998.99 Million
CAGR (2026-2031)	7.21%
Fastest Growing Segment	Cargo
Largest Market	Asia Pacific
Market Size (2031)	USD 1517.09 Million

Market Overview

The Global Compressed Natural Gas (CNG) Tank Market will grow from USD 998.99 Million in 2025 to USD 1517.09 Million by 2031 at a 7.21% CAGR. The Global Compressed Natural Gas Tank Market comprises the production of high pressure vessels designed to store natural gas for automotive applications. These cylinders are manufactured using steel or composite materials to ensure safety and durability under immense pressure. The primary drivers supporting market growth include strict environmental regulations aimed at reducing carbon footprints and the substantial operational cost advantages of natural gas compared to conventional fossil fuels. Furthermore, government incentives promoting alternative energy solutions are effectively accelerating the demand for these storage systems globally.

However, the insufficient availability of refueling infrastructure in many regions poses a significant challenge that may impede broader market expansion. This scarcity creates range anxiety for consumers and limits adoption in areas with low station density. Despite such hurdles, specific regions demonstrate strong uptake due to favorable economics. According to the Society of Indian Automobile Manufacturers, in the fiscal year ending March 2025, the share of CNG models in total passenger vehicle sales rose to 19.5 percent. This data underscores the continued demand for CNG solutions despite existing infrastructural constraints.

Key Market Drivers

The Rapid Expansion of Global CNG Refueling Infrastructure is fundamentally reshaping the market landscape by addressing the primary barrier to adoption: range anxiety. As governments and private entities collaborate to densify distribution networks, the viability of natural gas as a mainstream fuel increases, directly propelling the demand for onboard storage cylinders. This infrastructural growth is particularly evident in high-demand Asian markets, where accessibility is critical for continued vehicle uptake. According to The Hans India, December 2025, in the article 'Nationwide expansion of CNG infrastructure gains momentum', the Ministry of Petroleum and Natural Gas reported that 8,083 CNG stations were operational across India as of May 2025. Such expansion ensures that end-users have reliable access to fuel, thereby stabilizing the long-term growth trajectory for tank manufacturers.

The Rising Adoption of Natural Gas Vehicles in Public and Commercial Fleets is substantially increasing the demand for high-capacity composite tanks, driven by the need for lower total cost of ownership and emission compliance. Logistics providers and municipal transport agencies are aggressively transitioning away from diesel, necessitating durable and lightweight fuel systems for heavy-duty applications. According to Hexagon Agility, September 2025, in a corporate press release, the company secured new orders totaling USD 4.2 million for fuel systems from over 10 leading Class 8 fleets in North America. This commercial shift is complemented by robust activity in the passenger vehicle segment, which sustains high-volume manufacturing of smaller cylinders. According to CarToq, April 2025, in FY2025, Maruti Suzuki recorded sales of approximately 620,000 CNG-powered passenger vehicles, highlighting the immense scale of tank requirements in the mass market.

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Key Market Challenges

The insufficient availability of refueling infrastructure acts as a formidable barrier to the expansion of the Global Compressed Natural Gas (CNG) Tank Market. This scarcity of filling stations creates substantial range anxiety for both individual consumers and fleet operators, who fear being stranded without access to fuel. Even when the operational costs of natural gas are favorable, the logistical difficulty of locating stations restricts the practicality of CNG vehicles to specific, well-serviced routes. Consequently, potential buyers often opt for conventional or electric alternatives that offer more reliable refueling networks, thereby directly suppressing the demand for new CNG storage cylinders.

This infrastructural deficit has led to measurable contractions in key vehicle segments that utilize these storage systems. According to the European Automobile Manufacturers’ Association (ACEA), in 2024, registrations of trucks powered by 'other' energy sources, which includes natural gas, declined by 27.2 percent across the European Union compared to the previous year. This sharp decrease in vehicle registrations indicates that without a dense and accessible refueling network, the market struggles to sustain growth momentum, negatively affecting the production and sales of high-pressure CNG tanks.

Key Market Trends

The proliferation of virtual pipeline distribution networks is creating a distinct market segment for ultra-high-capacity gas transport modules. These systems deliver compressed natural gas to off-grid industrial facilities and remote communities, necessitating the manufacturing of large-format Type IV composite containers that maximize payload while minimizing transport weight. This application extends the utility of CNG technology beyond automotive fuel systems into the bulk energy logistics sector. According to Hexagon Composites, July 2024, in the press release 'Hexagon Agility receives order for Mobile Pipeline modules', the company secured a contract worth approximately USD 13 million to supply TITAN gas transport modules to a leading industrial gas client in the United States. This order highlights the growing reliance on mobile storage infrastructure to bridge connectivity gaps in the energy grid.

Concurrently, the integration of Renewable Natural Gas (RNG) ecosystems is driving the need for specialized storage solutions compatible with compressed biogas. As governments incentivize the shift from fossil-based gas to sustainable bio-methane, the construction of production facilities requires robust stationary and cascade storage systems. This trend links the tank market directly to global decarbonization efforts, diversifying demand sources beyond traditional fossil fuel applications. According to The Economic Times, October 2024, in the article 'Biogas sector attracts Rs 1,600 cr investment at REI Expo', the Indian Biogas Association announced investment commitments totaling INR 1,600 crore to establish new biogas plants. Such capital influx into bio-energy infrastructure creates a sustained requirement for high-pressure vessels to store and distribute the generated green fuel.

Segmental Insights

Based on recent industry analysis, the Cargo segment is recognized as the fastest-growing category within the Global Compressed Natural Gas (CNG) Tank Market. This rapid expansion is primarily driven by the logistics and freight sector's urgent shift toward sustainable transportation solutions to decarbonize supply chains. Fleet operators are increasingly adopting CNG tanks to comply with stringent emission standards enforced by regulatory bodies such as the Environmental Protection Agency (EPA), which mandate significant reductions in pollutants from heavy-duty vehicles. Additionally, the superior cost-efficiency of natural gas compared to diesel offers compelling economic incentives for high-mileage cargo transportation, further accelerating market adoption.

Regional Insights

Asia Pacific commands the Global Compressed Natural Gas (CNG) Tank Market, supported by the widespread adoption of natural gas vehicles across China and India. This dominance is largely attributed to strategic government mandates designed to reduce environmental pollution and transition towards cleaner energy sources. For example, the Petroleum and Natural Gas Regulatory Board in India has played a pivotal role in expanding city gas distribution infrastructure, thereby increasing accessibility for consumers. Furthermore, the region’s expanding automotive industrial base and the economic advantages of natural gas over petrol and diesel continue to drive substantial market demand.

Recent Developments

In May 2025, Hexagon Agility announced the receipt of new orders valued at USD 4.3 million for the delivery of natural gas fuel systems. These systems were ordered for installation on heavy-duty commercial trucks powered by a recently introduced 15-liter natural gas engine. The deals involved more than 20 fleet operators, contributing to a total accumulated order value of USD 20 million for this specific engine platform. This commercial activity reflected a robust market uptake of renewable natural gas solutions in the logistics sector, driven by the performance capabilities of the new engine and the reliability of the associated composite fuel storage systems.
In September 2024, Time Technoplast received a significant letter of acceptance from a major government-owned oil marketing company for the supply of mobile storage cascades. The order, valued at approximately Rs 67.21 crores, specified the delivery of Type-IV compressed natural gas cascades, which utilize advanced composite materials for lighter weight and higher efficiency. This commercial success underscored the industry's shift towards Type-IV cylinder technology for the virtual pipeline distribution of natural gas and compressed biogas. The company committed to executing the supply within a short timeframe, reinforcing its manufacturing capabilities in the high-pressure composite cylinder market.
In July 2024, Bajaj Auto launched the world's first compressed natural gas motorcycle, introducing a novel application for gas containment technology in the two-wheeler segment. The vehicle features a specialized 2 kg CNG cylinder integrated securely into the chassis, demonstrating a breakthrough in packaging high-pressure tanks for compact mobility solutions. This product launch addressed the need for cost-effective and eco-friendly personal transportation, utilizing a dual-fuel system that allows riders to switch between petrol and gas. The innovation highlighted the potential for scaling down composite or metal-lined tank technologies for mass-market adoption in smaller vehicle classes.
In May 2024, Worthington Enterprises entered into a definitive agreement to form a joint venture with Hexagon Composites, a global leader in clean fuel solutions. As part of this collaboration, the company agreed to sell a 49 percent stake in its Sustainable Energy Solutions business segment to its Norwegian partner. This strategic alliance was established to strengthen the companies' positions in the global market for the storage, transport, and distribution of hydrogen and compressed natural gas. The partnership aimed to leverage combined expertise in cylinder manufacturing to serve the growing demand for clean energy infrastructure and on-board fueling systems.

Key Market Players

National Iranian Gas Company
Indraprastha Gas Limited
ENGIE SA
Exxon Mobil Corporation.
BP p.l.c.
TotalEnergies
Chevron Corporation
Eni S.p.A.
ANGI Energy Systems, Inc.
TGT Fuel Technologies India Pvt. Ltd

By DWT	By Applications	By Type	By fuel,	By Region
PSV below 3000 DWT PSV above 3000 DWT	Oil and Gas Production Offshore Construction Military Others	Cargo and Support	Diesel LNG Electric Hybrid	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Compressed Natural Gas (CNG) Tank Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Compressed Natural Gas (CNG) Tank Market, By DWT:

PSV below 3000 DWT
PSV above 3000 DWT

Compressed Natural Gas (CNG) Tank Market, By Applications:

Oil and Gas Production
Offshore Construction
Military
Others

Compressed Natural Gas (CNG) Tank Market, By Type:

Cargo and Support

Compressed Natural Gas (CNG) Tank Market, By fuel,:

Diesel
LNG
Electric
Hybrid

Compressed Natural Gas (CNG) Tank Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Compressed Natural Gas (CNG) Tank Market.

Available Customizations:

Global Compressed Natural Gas (CNG) Tank Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Compressed Natural Gas (CNG) Tank Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Compressed Natural Gas (CNG) Tank Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By DWT (PSV below 3000 DWT, PSV above 3000 DWT)

5.2.2. By Applications (Oil and Gas Production, Offshore Construction, Military, Others)

5.2.3. By Type (Cargo and Support)

5.2.4. By fuel, (Diesel, LNG, Electric, Hybrid)

5.2.5. By Region

5.2.6. By Company (2025)

5.3. Market Map

6. North America Compressed Natural Gas (CNG) Tank Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By DWT

6.2.2. By Applications

6.2.3. By Type

6.2.4. By fuel,

6.2.5. By Country

6.3. North America: Country Analysis

6.3.1. United States Compressed Natural Gas (CNG) Tank Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By DWT

6.3.1.2.2. By Applications

6.3.1.2.3. By Type

6.3.1.2.4. By fuel,

6.3.2. Canada Compressed Natural Gas (CNG) Tank Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By DWT

6.3.2.2.2. By Applications

6.3.2.2.3. By Type

6.3.2.2.4. By fuel,

6.3.3. Mexico Compressed Natural Gas (CNG) Tank Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By DWT

6.3.3.2.2. By Applications

6.3.3.2.3. By Type

6.3.3.2.4. By fuel,

7. Europe Compressed Natural Gas (CNG) Tank Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By DWT

7.2.2. By Applications

7.2.3. By Type

7.2.4. By fuel,

7.2.5. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Compressed Natural Gas (CNG) Tank Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By DWT

7.3.1.2.2. By Applications

7.3.1.2.3. By Type

7.3.1.2.4. By fuel,

7.3.2. France Compressed Natural Gas (CNG) Tank Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By DWT

7.3.2.2.2. By Applications

7.3.2.2.3. By Type

7.3.2.2.4. By fuel,

7.3.3. United Kingdom Compressed Natural Gas (CNG) Tank Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By DWT

7.3.3.2.2. By Applications

7.3.3.2.3. By Type

7.3.3.2.4. By fuel,

7.3.4. Italy Compressed Natural Gas (CNG) Tank Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By DWT

7.3.4.2.2. By Applications

7.3.4.2.3. By Type

7.3.4.2.4. By fuel,

7.3.5. Spain Compressed Natural Gas (CNG) Tank Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By DWT

7.3.5.2.2. By Applications

7.3.5.2.3. By Type

7.3.5.2.4. By fuel,

8. Asia Pacific Compressed Natural Gas (CNG) Tank Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By DWT

8.2.2. By Applications

8.2.3. By Type

8.2.4. By fuel,

8.2.5. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Compressed Natural Gas (CNG) Tank Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By DWT

8.3.1.2.2. By Applications

8.3.1.2.3. By Type

8.3.1.2.4. By fuel,

8.3.2. India Compressed Natural Gas (CNG) Tank Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By DWT

8.3.2.2.2. By Applications

8.3.2.2.3. By Type

8.3.2.2.4. By fuel,

8.3.3. Japan Compressed Natural Gas (CNG) Tank Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By DWT

8.3.3.2.2. By Applications

8.3.3.2.3. By Type

8.3.3.2.4. By fuel,

8.3.4. South Korea Compressed Natural Gas (CNG) Tank Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By DWT

8.3.4.2.2. By Applications

8.3.4.2.3. By Type

8.3.4.2.4. By fuel,

8.3.5. Australia Compressed Natural Gas (CNG) Tank Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By DWT

8.3.5.2.2. By Applications

8.3.5.2.3. By Type

8.3.5.2.4. By fuel,

9. Middle East & Africa Compressed Natural Gas (CNG) Tank Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By DWT

9.2.2. By Applications

9.2.3. By Type

9.2.4. By fuel,

9.2.5. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Compressed Natural Gas (CNG) Tank Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By DWT

9.3.1.2.2. By Applications

9.3.1.2.3. By Type

9.3.1.2.4. By fuel,

9.3.2. UAE Compressed Natural Gas (CNG) Tank Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By DWT

9.3.2.2.2. By Applications

9.3.2.2.3. By Type

9.3.2.2.4. By fuel,

9.3.3. South Africa Compressed Natural Gas (CNG) Tank Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By DWT

9.3.3.2.2. By Applications

9.3.3.2.3. By Type

9.3.3.2.4. By fuel,

10. South America Compressed Natural Gas (CNG) Tank Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By DWT

10.2.2. By Applications

10.2.3. By Type

10.2.4. By fuel,

10.2.5. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Compressed Natural Gas (CNG) Tank Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By DWT

10.3.1.2.2. By Applications

10.3.1.2.3. By Type

10.3.1.2.4. By fuel,

10.3.2. Colombia Compressed Natural Gas (CNG) Tank Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By DWT

10.3.2.2.2. By Applications

10.3.2.2.3. By Type

10.3.2.2.4. By fuel,

10.3.3. Argentina Compressed Natural Gas (CNG) Tank Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By DWT

10.3.3.2.2. By Applications

10.3.3.2.3. By Type

10.3.3.2.4. By fuel,

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Compressed Natural Gas (CNG) Tank Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. National Iranian Gas Company

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Indraprastha Gas Limited

15.3. ENGIE SA

15.4. Exxon Mobil Corporation.

15.5. BP p.l.c.

15.6. TotalEnergies

15.7. Chevron Corporation

15.8. Eni S.p.A.

15.9. ANGI Energy Systems, Inc.

15.10. TGT Fuel Technologies India Pvt. Ltd

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

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