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Composite Cylinder market: Market Dynamics
For regular functioning, every business or operation relies heavily on energy obtained from fossil fuels and increased usage of composite cylinders for fulfilling the energy needs are driving the growth in composite cylinders market. Preference of end users for composite cylinders due to its ease of handling and partial visibility is driving the demand in composite cylinder market. Composite cylinders being explosion proof is another important factor supporting the growth is composite cylinders market. Apart from light weight and partial visibility composite cylinders are manufactured using recyclable materials which reduce its manufacturing and maintenance cost and thus benefitting the overall value chain by reducing cost operations for businesses and other entities. Composite cylinders are also available with colorful outer casing and barcode application which can help suppliers in handling and tracking cylinders more efficiently.
Some additional features available with composite cylinders such integrated chips for providing information regarding the life of the composite cylinder. However, some end users may speculate the safety regarding the use of plastic for packaging of gas as the consumers are habitual for using steel cylinders which can limit the pace of growth in composite cylinder market. Introduction of gas pipe line has eliminated the need for cylinders hence hampering composite cylinder market significantly. Over the forecast period despite all the speculations the use of composite cylinders is poised to increase in many end-use industries due to the need for gas from a portable source is pushing the consumption of composite cylinders across the globe.
Composite Cylinder market – Regional Outlook:
Regionally global composite cylinder market is segmented into
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia-Pacific excluding Japan (APEJ)
- Middle East & Africa (MEA)
- Japan
APEJ region is expected to lead the composite cylinder market over the forecast period owing to the large base of manufacturing industry. North America is expected to follow APEJ region in composite cylinder market as the region has high per capita consumption of goods. Western Europe and Eastern Europe being the mature region are expected to grow moderately over the forecast period in composite cylinder market. MEA and Latin America are expected to exhibit sluggish growth in the composite cylinder market. Japan is expected to contribute significant value share in composite cylinder market.
Composite Cylinder market – Key Players:
Some major players of the composite cylinder market are Quantum Technologies, Worthington Cylinders, Hexagon Composites, LiteSafe Cylinder, Santek Equipments Pvt Ltd, Luxfer Gas Cylinders, Beijing Tianhai Industry Co., Aburi Composites, ALAMAN Gas Cylinders Manufacturing LLC, Time Technoplast, Faber Industries S.p.A., Shijiazhuang Yunhong Trade Co., Ltd. and Shanghai Qiaoyu Industrial Co., Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil and Rest of Latin America)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg and Rest of Western Europe)
- Eastern Europe (Poland, Russia and Rest of Eastern Europe)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, and Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Composite Cylinder market: Market Segmentation
Composite cylinder market is segmented by material type, product type and by end use industry
Based on the material type, composite cylinder market is segmented into:
- Metal
- Steel
- Aluminum
- Carbon Fibers
- Glass Fibers
- High-density polyethylene (HDPE)
Based on the product type, composite cylinder market is segmented into:
- Type II
- Type III
- Type IV
Based on the end use, composite cylinder market is segmented into:
- Hotels & Restaurants
- Household Purpose
- Ballooning
- Gas Cutting
- Others
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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