Global Type 4 Cylinder Market

New York, Oct. 05, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication 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 expected to grow at a stable CAGR during the forecast period, 2023-2027. The high demand for type 4 cylinders among passenger and commercial vehicles and storage and transportation applications and the growing number of natural gas vehicles globally primarily drive the demand in the global type 4 cylinder market.

The demand from other end-user industries such as aerospace and defense, construction, and infrastructure further influences the market demand. Additionally, increasing research and development activities to introduce the next generation cylinders and rising awareness about the benefits of using these cylinders is expected to drive the growth of the global type 4 cylinder market over the past five next few years.
Benefits of using type 4 cylinder drive market growth
These cylinders are primarily designed for high pressure applications. Type 4 cylinders are basically 70% lighter than their counterparts and therefore increase the gas carrying capacity of the cylinders.

They are capable of carrying twice as much gas in a single trip, reducing the huge transport costs of CNG and resulting in massive savings.

It eliminates the risk of leaks and contamination of the line as there is no risk of rust and corrosion. The special non-metallic coating does not allow permeation.

They are designed to be maintenance free and retesting only requires inspection. Type 4 cylinders have a long lifespan and are considered very durable and safe. They are made of very 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 growth of the global type 4 cylinders market over the forecast period. .
Booming Automotive Industry Drives Market Growth
The automotive industry is rapidly transforming and adopting new and advanced features and technologies to improve the performance, fuel capacity, mileage, seating capacity and safety of automobiles. Automakers are working on improving engine performance as it is the main power for vehicles and plays a vital role in moving vehicles.

Strict emission standards and growing concerns about the harmful effect of greenhouse gas emissions on the environment are prompting major authorities to promote vehicles running on compressed natural gas, also known as green fuel. It has self-ignition temperature and low operating cost. .

Another advantage of CNG vehicles is that it increases the life of lubricating oils and does not contaminate or dilute crankcase oil. The main advantage of using type 4 cylinders is that it supports a higher driving range, which reduces refill anxiety issues.

They are lighter and do not influence the movement of vehicles even if they are offset on the roof of vehicles. Type 4 cylinders provide higher mileage and lower fuel cost per km. Rising penetration of CNG vehicles globally and increased use of type 4 cylinders in vehicles is expected to drive the growth of the global type 4 cylinder market 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. On the basis of material, the market is divided into carbon fiber, carbon fiber + glass fiber.

Based on the diameter, the market is divided into 414mm, 533mm, 648mm. Based on the 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 design a regional market segmentation, divided into North American region, Asia-Pacific region, European region, South American region, and Middle East & Africa region.

In terms of countries, the United States is expected to be a lucrative market for the global type 4 cylinder market owing 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 key players operating in the global Type 4 Cylinder market.

Report Scope:

In this report, the global Type 4 Cylinder Market has been segmented into the following categories, in addition to industry trends which have also been detailed below:
• Market for type 4 cylinders, by material:
o Completely in carbon fiber
o Carbon fiber + fiberglass
• Type 4 cylinder market, by diameter:
o 414 mm
o 533 mm
o 648 mm
• Market for type 4 cylinders, by length:
o 60 inches
o 80 inches
o 90 inches
or 100 inches
o 120 inches
• Type 4 Cylinders 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
UK
France
Italy
Spain
Poland
Denmark
o South America
Brazil
Argentina
Colombia
Peru
Chile
o Middle East and Africa
Saudi Arabia
South Africa
United Arab Emirates
Iraq
Turkey

Competitive landscape

Company Profiles: Detailed analysis of the major companies present in the global Type 4 Cylinder market.

Customizations available:

With the market data provided, we offer customizations based on a company’s specific needs. The following customization options are available for the report:

Company information

• Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06325912/?utm_source=GNW

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