Global CNG Tank Market is Moderately Fragmented

Date: 2015-08-20

“Compressed natural gas (CNG) is a clean burning fuel and is also known as the cleanest of all the fossil fuels. Natural gas is composed of mainly methane, which when burnt produces carbon dioxide and water vapor. Due to the cheaper rate of CNG, CNG vehicles are being widely used across the world. The number of vehicles in the world which uses CNG has grown steadily at a 30 percent annual rate. Following are some of the benefits of using CNG vehicles:
• CNG vehicles have low maintenance
• CNG when burnt, mixes easily and evenly in the air
• CNG emits less pollutant such as carbon dioxide (CO2), carbon monoxide (CO),etc

Global CNG tanks market can be segmented by type, which includes type-1, type-2, type-3 and type-4. Type-1 tanks are made up of metals, generally steel. Type-2 tank are made with thinner, steel liner. The metal liner is wrapped with composite materials (glass or carbon fiber) only around the center of the tank. Type-3 tanks are made up of aluminum composite materials. The aluminum composite material is wrapped completely around the tank. Type-4 tanks do not use metal in their structural design. These tanks are made up with a thick rubber membrane. 

All CNG tanks are made using the cylinder shape with a semi-spherical shape covering each end.  The cylinder and semi-spherical shapes provide the strongest structural shape because the circular and spherical shapes provide for equal distribution of stresses throughout the inner area of the tank producing the highest safety available for high-pressure vessels.

The global CNG tank market is moderately fragmented, where Hexagon composites ASA (Norway), Luxfer group (U.K), Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd (China), Worthington Industries (U.S.), Quantum technologies (U.S.) captured majority of the market share in production and supply.

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