Automotive Gas Cylinder Market Forecast and Segments, 2016-2026
Gas cylinders are basically pressure vessels which are used to store various gases under desired pressure conditions. According to point of application, gas cylinders vary in shape, size and weight. In automotive industry, gas cylinders are used to store natural gas (CNG) and hydrogen for their use as fuel. Earlier, one of the largest challenge with automotive gas cylinders was their heavy weight and safety issues in case of accident. Innovation & emergence of new technology, over the past years, has led to the development of new composite material e.g. carbon fiber, glass fiber, etc., which have worked in the direction to overcome these challenges. Based on type of construction materials used, different type of automotive gas cylinders are available in the market. With high growth in use of automobiles running on alternative fuels such as hydrogen, compressed natural gas, etc., global automotive gas cylinders market is expected to increase at a significant CAGR over the forecast period 2016-2026.
Gas cylinders are basically pressure vessels which are used to store various gases under desired pressure conditions. According to point of application, gas cylinders vary in shape, size and weight. In automotive industry, gas cylinders are used to store natural gas (CNG) and hydrogen for their use as fuel. Earlier, one of the largest challenge with automotive gas cylinders was their heavy weight and safety issues in case of accident. Innovation & emergence of new technology, over the past years, has led to the development of new composite material e.g. carbon fiber, glass fiber, etc., which have worked in the direction to overcome these challenges. Based on type of construction materials used, different type of automotive gas cylinders are available in the market. With high growth in use of automobiles running on alternative fuels such as hydrogen, compressed natural gas, etc., global automotive gas cylinders market is expected to increase at a significant CAGR over the forecast period 2016-2026.
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Report Description<br />
<strong>Gas</strong> cylinders are basically pressure vessels which are used to store various gases under desired pressure<br />
conditions. According to point of application, gas cylinders vary in shape, size <strong>and</strong> weight. In automotive<br />
industry, gas cylinders are used to store natural gas (CNG) <strong>and</strong> hydrogen for their use as fuel. Earlier, one of<br />
the largest challenge with automotive gas cylinders was their heavy weight <strong>and</strong> safety issues in case of<br />
accident. Innovation & emergence of new technology, over the past years, has led to the development of<br />
new composite material e.g. carbon fiber, glass fiber, etc., which have worked in the direction to overcome<br />
these challenges. Based on type of construction materials used, different type of automotive gas cylinders<br />
are available in the market. With high growth in use of automobiles running on alternative fuels such as<br />
hydrogen, compressed natural gas, etc., global automotive gas cylinders market is expected to increase at a<br />
significant CAGR over the forecast period <strong>2016</strong>-<strong>2026</strong>.<br />
Global <strong>Automotive</strong> <strong>Gas</strong> <strong>Cylinder</strong> <strong>Market</strong>: Dynamics<br />
Governments from across the world are highly focused to reduce emission of greenhouse gases from<br />
automobiles, which is one of the biggest cause of haphazardly increasing global air pollution. CNG vehicles<br />
emit less greenhouse gases as compared to vehicles that are fueled with other fossil fuels, due to which their<br />
dem<strong>and</strong> is expected to grow at a robust CAGR over the coming years. Besides, use of hydrogen as an<br />
alternate automotive fuel has already started <strong>and</strong> dem<strong>and</strong> is expected to grow at an unprecedented rate<br />
over next decade. Owing to these developments, dem<strong>and</strong> for gas cylinders in automotive industry is<br />
projected to grow at a significantly high CAGR between <strong>2016</strong> <strong>and</strong> <strong>2026</strong>.<br />
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