Composite Cylinders Market is expected to grow at a CAGR of 4.96% through 2030F

Composite Cylinders market is increasing due to the rising demand for lightweight, durable, and safe storage solutions in sectors like automotive, energy, and industrial applications during forecast period 2026-2030F

According to TechSci Research report, “Composite Cylinders Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030F, The Global Composite Cylinders Market was valued at USD 1.14 Billion in 2024 and is expected to reach USD 1.54 Billion by 2030 with a CAGR of 4.96% through 2030.

Infrastructure development in emerging economies is a significant driver of the Composite Cylinders market. Regions such as Asia-Pacific, the Middle East, and Africa are experiencing rapid urbanization and industrialization, leading to increased demand for efficient and reliable gas storage solutions. Composite cylinders are gaining traction in these regions due to their lightweight, durable, and cost-effective nature, which makes them ideal for various applications, including residential cooking, industrial processes, and transportation.

The energy sector in emerging economies is undergoing a transformation as governments invest in expanding clean energy infrastructure. Composite cylinders are playing a crucial role in this transition by providing safe and efficient storage for alternative fuels such as compressed natural gas and liquefied petroleum gas. Additionally, the adoption of hydrogen as a key energy source is gaining momentum in these regions, further driving demand for advanced composite storage solutions.

The construction industry, which relies heavily on portable and durable gas cylinders for various applications, is another key contributor to market growth in emerging economies. Composite cylinders’ resistance to extreme weather conditions and long service life make them a preferred choice for construction and industrial activities. Furthermore, the increasing penetration of international manufacturers in these regions is fostering competition and innovation, resulting in the availability of high-quality composite cylinders at competitive prices.

For new entrants and small manufacturers, navigating these regulatory complexities can be particularly daunting. Delays in obtaining certifications and approvals can significantly impact time-to-market and increase operational costs. Furthermore, the evolving nature of regulatory standards adds an element of uncertainty, requiring manufacturers to continuously invest in research and development to remain compliant. This challenge also affects end users, as regulatory delays or inconsistencies can limit the availability of composite cylinders in certain regions. To address this issue, industry stakeholders must collaborate with regulatory bodies to harmonize standards globally and streamline approval processes. Establishing industry associations and advocacy groups can also play a pivotal role in reducing regulatory bottlenecks and fostering innovation in the composite cylinder market

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In 2024, Based on End User, the Industrial segment dominated the composite cylinders market by end-user and is expected to maintain its dominance throughout the forecast period. This segment’s dominance can be attributed to the significant demand for composite cylinders in industrial applications such as gas storage, transportation, and distribution, where the need for high-strength, lightweight, and pressure-resistant cylinders is crucial. Industries such as oil and gas, chemicals, and manufacturing require efficient and safe storage and transportation of various gases, including natural gas, hydrogen, and propane. Composite cylinders are particularly favored in these sectors for their enhanced performance, reduced weight compared to traditional steel cylinders, and higher safety standards. Furthermore, the increasing trend towards sustainable energy and industrial decarbonization is driving the adoption of hydrogen cylinders in industrial operations, further bolstering the industrial sector’s market share. The growing focus on environmentally friendly and efficient solutions, especially for bulk gas storage, is also contributing to the continued dominance of the industrial segment. Additionally, advancements in composite material technologies and the expansion of hydrogen infrastructure are expected to enhance the industrial sector’s reliance on composite cylinders, ensuring that this segment remains the leading driver of market growth. As a result, the industrial sector is likely to sustain its dominant position in the composite cylinders market for the foreseeable future, with continued investments in innovation and infrastructure supporting its growth trajectory.

Based on region, North America is the fastest-growing region in the composite cylinders market, driven by several key factors including technological advancements, increasing demand for clean energy solutions, and robust industrial growth. The region has been at the forefront of adopting innovative technologies, particularly in the automotive and energy sectors. One of the significant drivers is the growing demand for hydrogen storage solutions as part of the push toward clean energy adoption. North America is heavily investing in hydrogen infrastructure, including refueling stations for fuel cell vehicles, which requires the use of high-pressure composite cylinders for hydrogen storage. This trend is expected to continue, further boosting the demand for composite cylinders in the region.

The region’s strong industrial base also plays a significant role in the growth of the composite cylinders market. North American industries, such as oil and gas, chemicals, and manufacturing, require durable and high-performance cylinders for gas storage, transport, and distribution. The shift towards more sustainable and energy-efficient solutions, such as carbon capture and hydrogen storage systems, is further accelerating the adoption of composite cylinders. Government incentives, regulations promoting clean energy technologies, and increasing private sector investments in renewable energy and hydrogen solutions have made North America an attractive market for composite cylinder manufacturers. This combination of technological innovation, industrial demand, and clean energy initiatives positions North America as the fastest-growing region in the composite cylinders market.

Key market players in the Composite Cylinders Market are: -

• Hexagon Composites ASA
• FABER INDUSTRIE SPA
• Luxfer Holdings PLC
• Worthington Enterprises, Inc
• Time Technoplast Ltd.
• Beijing Jingcheng Machinery Electric Co,ltd.
• Sinoma Science & Technology Co.,Ltd.
• Steelhead Composites, Inc
• Aburi Composites
• Supreme Industries Limited

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“The composite cylinders market is expected to experience robust growth in the future, driven by increasing demand for lightweight, durable, and safe gas storage solutions across industries. Key growth factors include the rising adoption of clean energy technologies, particularly hydrogen storage for fuel cells and renewable energy applications. The automotive sector’s shift towards compressed natural gas and hydrogen-powered vehicles will also boost demand. Additionally, the industrial sector's need for efficient and safe gas transportation and storage solutions will continue to propel market expansion. Technological advancements, environmental regulations, and government incentives will further drive the growth of the composite cylinders market.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.

“Composite Cylinders Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Glass Fiber, Carbon Fiber, Others), By Tank Type (LPG Cylinders, CNG Cylinders, Hydrogen Cylinders, Others), By Application (Automotive & Transportation, Aerospace & Defense, Gas Storage, Others), By End-user (Residential, Commercial, Industrial), By Region & Competition, 2020-2030F” has evaluated the future growth potential of Composite Cylinders 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 Composite Cylinders Market.

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