Composite cylinders are high-pressure vessels that are coated in a polymer composite and enclosed in a plastic housing. Composite cylinders are can be used in different weather conditions due to their design and materials used. Composite cylinders are made up of helically woven fibre and resin which improves its design and safety features. Composite cylinders are explosion proof and non-corrosive.
MARKET SCOPE
The "Global Composite Cylinder Market Analysis to 2028" is a specialized and in-depth study of the consumer goods industry with a particular focus on global market trend analysis. The report aims to provide an overview of the Composite Cylinder Market Analysis with detailed market segmentation by material, by end use and by geography. The Composite Cylinder Market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading Composite Cylinder Market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The Composite Cylinder Market has been segmented into by material and by end use. By material the market has been bifurcated into glass fiber composites, carbon fiber composites and aramid fiber composites. By end use the market has been segmented into gas carriers and storage, transportation, life support and others.
MARKET DYNAMICS
Growth Factors
- Rapid growth in population and urbanization
- Reliability on fossil fuels
- Increasing use in automobile industry
Restraints
- Use of gas pipe systems
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2018 to 2028 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The Composite Cylinder Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the Composite Cylinder Market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the Composite Cylinder Market in these regions.
Impact of Covid 19 Composite Cylinder Market
The Covid 19 pandemic had a significant impact on the Composite Cylinder Market. The rise in the number of cases and increasing severity of the pandemic resulted in several governments and local regulatory authorities to impose lockdowns which restricted the movement of goods and people. A sharp decline in demand from end-use industries such as aerospace, automotive, construction, mining, and oil & gas is likely to affect the market. Demand for composite cylinders in these industries has declined sharply due to lockdowns imposed and decline in manufacturing output as well. As the cases are on a decline and the industries resuming full-fledged production the Composite Cylinder Market is expected to grow in the coming years and stabilize as well.
MARKET PLAYERS
The report covers vital developments in the Composite Cylinder Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the Composite Cylinder Market are anticipated to have lucrative growth opportunities in the future with the rising demand for Composite Cylinder Market. Below mentioned is the list of a few companies engaged in the Composite Cylinder Market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Composite Cylinder Market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
- Time Technoplast Limited
- Hexagon Composites ASA
- AMS Composite Cylinders
- Luxfer Gas Cyclinder
- Quantum Technologies
- Dragerwerk
- Worthington Cyclinders
- Sinoma
- Faber Industries S.p.A
- Aburi Composites