The global Composite Cylinders Market is projected to reach USD 1.04 billion by 2030, up from USD 0.69 billion in 2023, with a CAGR of 6.6% between 2025 and 2030. The market is segmented by Tank Type (Type I, Type II, Type III, Type IV), Outer Casing Material (Glass Fibers, Carbon Fibers, High Density Polyethylene, Others), and End Use Industry (Hotels & Restaurants, Household Purpose, Industrial Fuel, Industrial Process, Automotive).
The increasing demand for gas is expected to be a major driver of market growth, particularly in emerging economies such as India and China. The use of natural gas as a primary fuel source across various sectors, including manufacturing and construction, will further bolster market prospects. Concerns about the inventory costs associated with traditional steel cylinders are also fueling the growth of the composite cylinders industry.
Composite cylinders offer advantages such as colored outer shells and bar codes for easy monitoring and handling. They also feature integrated chips that provide information on product age. The rising energy requirements, coupled with challenges in pipeline deployment due to diverse terrains and complex pathways, are contributing to the demand for composite cylinders.
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