Automotive Gas Cylinder Market to Grow with a CAGR of 4.83% through 2029

The Automotive Gas Cylinder Market is expanding due to rising demand for eco-friendly vehicles, regulatory pressures, and advancements in cylinder technology enhancing safety and performance.

According to TechSci Research report, “Automotive Gas Cylinder Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F”, Global Automotive Gas Cylinder Market was valued at USD 1.50 Billion in 2023 and is expected to reach USD 1.99 Billion by 2029 with a CAGR of 4.83% during the forecast period. The Automotive Gas Cylinder Market is experiencing significant growth driven by the increasing adoption of alternative fuel vehicles, including those powered by compressed natural gas (CNG) and liquefied petroleum gas (LPG). These cylinders are crucial for storing gases that fuel such vehicles, contributing to reduced emissions and improved environmental sustainability. Regulatory frameworks and government incentives promoting cleaner fuels further boost market expansion. Technological advancements in cylinder design and manufacturing, focusing on enhanced safety, lightweight materials, and durability, also support market growth. Rising fuel costs and consumer awareness about environmental issues are leading to greater acceptance of gas-powered vehicles. The market faces challenges related to stringent safety standards and the high cost of advanced materials. However, ongoing innovations and increasing infrastructure investments for gas refueling stations are expected to drive future growth in this sector.

The increasing focus on vehicle efficiency and performance is driving demand for lightweight automotive components, including gas cylinders. Lightweight gas cylinders, especially those made from composite materials, help reduce the overall weight of the vehicle, leading to better fuel efficiency and lower emissions. This is particularly crucial for vehicles using alternative fuels, where weight reduction can significantly improve vehicle range and performance. As automakers continue to prioritize lightweight materials to meet emission standards and consumer expectations for efficient vehicles, the demand for advanced gas cylinders is expected to rise. The trend toward vehicle electrification also complements the use of lightweight materials in gas cylinders.

Durability and maintenance requirements for automotive gas cylinders are ongoing challenges. Gas cylinders, particularly those used for CNG and hydrogen, operate under high pressure, and their materials are subjected to wear and tear over time. This can lead to issues like corrosion, fatigue, or leaks, necessitating regular inspections and maintenance to ensure safety and performance. Composite cylinders, while lighter and more efficient, can be more prone to damage if not handled properly. The need for periodic requalification of gas cylinders such as hydrostatic testing adds operational complexity and costs for vehicle owners and fleet operators. Addressing these maintenance challenges is crucial for long-term market growth and consumer confidence.

Automakers are increasingly focused on reducing vehicle weight to improve fuel efficiency and meet stringent emission regulations. This has led to a rising trend of light weighting across all vehicle components, including gas cylinders. Composite gas cylinders are at the forefront of this trend due to their ability to significantly reduce the overall weight of vehicles while maintaining safety and performance. As lightweighting becomes a key strategy for vehicle manufacturers, especially in the alternative fuel vehicle segment, the demand for advanced composite gas cylinders is expected to rise. This trend not only improves vehicle efficiency but also aligns with sustainability goals, making it a critical driver of market growth.

Browse over xx market data Figures spread through xx Pages and an in-depth TOC on "Global Automotive Gas Cylinder Market.” 

The Automotive Gas Cylinder Market is segmented into Product Type, Vehicle Type, Material Type and region.

Based on vehicle type, the passenger vehicle segment was the dominant market in the Automotive Gas Cylinder industry due to several key factors. Passenger vehicles, including cars and SUVs, were at the forefront of the shift towards cleaner fuel options. As governments and regulatory bodies worldwide implemented stricter emission standards to combat air pollution and climate change, the adoption of alternative fuels like compressed natural gas (CNG) and liquefied petroleum gas (LPG) became increasingly attractive for personal transportation. These fuels offered lower emissions compared to traditional gasoline and diesel, making them a preferred choice for environmentally conscious consumers and regulatory compliance.

The economic benefits associated with alternative fuels played a crucial role. CNG and LPG were generally less expensive than gasoline or diesel, providing significant cost savings for vehicle owners over time. This cost efficiency was particularly appealing to a large segment of the passenger vehicle market, where budget considerations were a major factor in purchasing decisions. Advancements in gas cylinder technology contributed to the growth of this segment. Modern gas cylinders were designed to be lightweight, durable, and safe, which enhanced their appeal for passenger vehicles. Innovations such as composite materials and improved safety features made these cylinders more practical for everyday use in personal vehicles.

Major companies operating in global Automotive Gas Cylinder Market are:

• Luxfer Holdings PLC
• Ryder Industries Ltd.
• Hexagon Purus ASA
• Stellantis N.V.
• Worthington Cylinders GmbH
• Nexteer Automotive Corporation
• Everest Kanto Cylinder Ltd.
• Krosaki Harima Corporation
• Chengdu Yachuan Gas Equipment Co., Ltd.
• Stelrad Group plc

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“The global automotive gas cylinder market is driven by the rising demand for fuel-efficient and eco-friendly vehicles, alongside growing government regulations supporting the use of alternative fuels. The key trends include technological advancements in cylinder design for enhanced safety and weight reduction, as well as increasing investments in renewable energy sources like CNG and hydrogen. Additionally, urbanization and shifting preferences toward cleaner energy options are fueling the expansion of this market.“ said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.

"Automotive Gas Cylinder Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Type 1, Type 2, Type 3, Type 4, Type 5), By Vehicle Type (Passenger, Light Commercial, Heavy Commercial), By Material Type (Steel, Aluminium, Composite), By Region, By Competition, 2019-2029F”, has evaluated the future growth potential of global Automotive Gas Cylinder Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Automotive Gas Cylinder Market.

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