Yahoo Finance Global Type 4 Cylinder Market - Competition Forecast and Opportunities, 2027
Global Type 4 Cylinder Market By Material (Fully Carbon Fiber, Carbon Fiber +Glass Fiber), By Diameter (414 mm, 533 mm, 648 mm), By Length (60-inch, 80-inch, 90-inch,100- inch,120- inch), By Application (CNG, Biogas, Hydrogen, Others), and By Region, Competition Forecast and Opportunities, 2027
New York, Oct. 05, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Type 4 Cylinder Market - Competition Forecast and Opportunities, 2027" - https://www.reportlinker.com/p06325912/?utm_source=GNW
The global type 4 cylinder market is anticipated to grow at a steady CAGR in the forecast period, 2023-2027.High demand for type 4 cylinders among the passenger and commercial vehicles and storage and transport applications and the growing number of natural gas vehicles worldwide primarily drive the demand for the global type 4 cylinder market.
The demand from the other end-user industries like aerospace and defense, construction & infrastructure are further influencing the market demand. Also, the surge in research and development activities to introduce next-generation cylinders and the growing awareness about the advantages of using these cylinders are expected to bolster the global type 4 cylinder market growth over the next five years.
Advantages of Using Type 4 Cylinder Drives the Market Growth
These cylinders are basically designed for high-pressure applications.Type 4 cylinders are basically 70% lighter than their counterparts and therefore boost the gas carrying capacity of cylinders.
They are able to transport two times more gas in one trip, which reduces huge CNG transportation costs and results in massive savings.All cylinders have polymer lines with special additives and are made of gas-tight PE material and are resistant to rust and fatigue.
It eliminates the chance of line leakage and contamination as there is no chance of rust and corrosion.The special non-metallic liner does not allow permeation.
They are designed to be maintenance-free, and retesting requires only inspection. Type 4 cylinders have a long service life and are considered highly durable and safe. They are made up of highly advanced carbon fiber and are very strong and can store gas even at high pressure. Type 4 cylinders are the best combination of safety, efficiency, and durability. They are good for the environment. The entry of new market players offering type 4 cylinders and the growing awareness about the benefits of using type 4 cylinders are expected to propel the global type 4 cylinder market growth over the forecast period.
Booming Automotive Industry Favors the Market Growth
The automotive industry is rapidly transforming and is adopting novel and advanced features and technologies to improve the performance, fuel capacity, mileage, seating capacity, and safety of automobiles.Automakers are working on improving the performance of the engine as it is the main power supply for the vehicles and plays a vital role in moving the vehicles.
Stringent emission norms and growing concerns regarding the harmful effect of greenhouse emissions on the environment are making the leading authorities promote vehicles running on compressed natural gas, which is also known as a green fuel.It has auto-ignition temperature and has a low operational cost.
Another advantage of CNG vehicles is that it increases the life of lubricating oils and does not contaminate and dilute the crankcase oil.The major advantage of using type 4 cylinders is that it supports a higher driving range which lowers the refill anxiety issues.
They are lighter and do not influence the running of vehicles even if shifted to the roof of vehicles. Type 4 cylinders offer higher mileage and reduce the fuel cost per km. Growing penetration of CNG vehicles worldwide and the increased use of type 4 cylinders in vehicles are expected to bolster the global type 4 cylinder market growth over the next five years.
Market Segmentation
The global type 4 cylinder market is segmented into material, diameter, length, application, regional distribution, and competitive landscape.Based on material, the market is divided into fully carbon fiber, carbon fiber +glass fiber.
Based on diameter, the market is divided into 414 mm, 533 mm, 648 mm.Based on length, the market is divided into 60-inch, 80-inch, 90-inch,100- inch,120- inch.
Based on application, the market is divided into CNG, biogas, hydrogen, and others.The market analysis also studies the regional segmentation to devise regional market segmentation, divided among North American region, Asia-Pacific region, European region, South American region, and Middle East & African region.
In terms of country, the United States is expected to be a lucrative market for the global type 4 cylinder market due to the growing acceptance of type 4 cylinders in the automotive industry.
Market Players
Indoruss Synergy, Quantum Technologies, Aburi Composites, Hexagon Composites ASA, Luxfer Holdings PLC, Ullit SA, Worthington Industries, EKC International Dubai, AMS Composite Cylinders, Time Technoplast Ltd. are the leading players operating in the global type 4 cylinder market.
Report Scope:
In this report, global type 4 cylinder market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Type 4 Cylinder Market, By Material:
o Fully Carbon Fiber
o Carbon Fiber +Glass Fiber
• Type 4 Cylinder Market, By Diameter:
o 414 mm
o 533 mm
o 648 mm
• Type 4 Cylinder Market, By Length:
o 60-inch
o 80-inch
o 90-inch
o 100- inch
o 120- inch
• Type 4 Cylinder Market, By Application:
o CNG
o Biogas
o Hydrogen
o Others
• Type 4 Cylinder Market, By Region:
o North America
United States
Canada
Mexico
o Asia-Pacific
China
India
Japan
South Korea
Australia
Singapore
Malaysia
o Europe
Germany
United Kingdom
France
Italy
Spain
Poland
Denmark
o South America
Brazil
Argentina
Colombia
Peru
Chile
o Middle East & Africa
Saudi Arabia
South Africa
UAE
Iraq
Turkey
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global type 4 cylinder market.
Available Customizations:
With the given market data, we 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).
Read the full report: https://www.reportlinker.com/p06325912/?utm_source=GNW
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