Report code - SR1457Published On : Dec,2021No. of Pages: 135
Gas Carrier and Storage Pressure Vessels Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
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Gas Carrier and Storage Pressure Vessels Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
Gas Carrier and Storage Pressure Vessels Marketby Pressure Vessel Type (Type I, Type II, Type III, and Type IV), Fuel Type (CNG, LNG, RNG, Hydrogen, and Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Saudi Arabia, Israel, and Others]).
Gas Carrier and Storage Pressure Vessels Market by Pressure Vessel Type (Type I, Type II, Type III, and Type IV), Fuel Type (CNG, LNG, RNG, Hydrogen, and Others), and Region (North America [The USA, Canada, and Mexico],...
"The global gas carrier and storage pressure vessels market is estimated to reach a value of US$ 311.7 million in 2026, registering a CAGR of 5.2% during the forecast period."
Gas carriers and storage pressure vessels include transportation cylinders and modules used for delivering gaseous energy fuels to temporary or permanent sites which don’t have access to pipelines. Various fuels, such as compressed natural gas (CNG), liquefied natural gas (LNG), renewable natural gas (RNG), hydrogen, and industrial gases, are being transported through these cylinder-containing modules. These transportation cylinders are used in a broad array of applications, such as drilling and hydraulic fracturing, power generation, energy-intensive industries, vehicle refueling stations, marine, rail, and agriculture industries.
It is estimated that the gas carrier and storage pressure vessels market is estimated to reach a value of US$ 311.7 million in 2026. However, the expected recovery in the oil & gas industry, increasing development of vehicle refueling stations, and ramp-up in production activities are likely to create an enormous demand for gaseous energy fuels, which ultimately help in the healthy recovery of the gas carriers & storage pressure vessels market in the near future. Apart from these, the cost-effectiveness and environmental-friendliness nature of these energy solutions is expected to provide an upthrust to the market.
Covid-19 Impact
The COVID-19 pandemic has brought grievous consequences for the entire world, taking various industries under its grip. Production halts coupled with a significant decline in the demand for gasoline and diesel led to a huge plunge in the demand for pressure vessels for gas carriers & storage in 2020.
Segments Analysis
Pressure Vessel Trends
"Type-I pressure vessels segment accounted for the largest market share."
The gas carrier and storage pressure vessels market is segmented as type I, type II, type III, and type IV. Type-I pressure vessels predominantly ruled the gas carriers and storage pressure vessels market due to their lowest cost. Whereas type IV pressure vessels is likely to provide excellent growth opportunities in the coming years due to their lightweight and low operating cost. The mass efficiency of typical type-IV pressure vessels is approximately 127% more than that of type-I (steel) pressure vessels.
"CNG fuelsegment accounted for the largest market share."
The market is segmented into CNG, LNG, RNG, hydrogen, and others (industrial gases, such as helium and nitrogen). Despite witnessing a mammoth decline in 2020, CNG fuel type maintained its supremacy in the gas carriers and storage pressure vessels market in 2020. Whereas, hydrogen fuel type is likely to grow at the fastest pace over the next five years, driven by the continuous rise in investments for the development of hydrogen refueling infrastructure to complement and support the growing number of FCEVs on the road.
Regional Insights
"Asia-Pacific is expected to remain the largest as well as the fastest-growing market during 2021-2026"
The increasing number of hydrogen refueling stations in countries like Japan and South Korea and the high focus of China to enhance its position in the fuel-cell electric vehicles to become the pioneer market for zero-emission vehicles are likely to be the major driving factors for the region’s exceptional growth in the market in the forecast period.
The supply chain of this market comprises raw material suppliers, pressure vessel manufacturers, and end-users.
Following are the key players in the gas carriers and storage pressure vessels market.
Hexagon Composites ASA
FIBA Technologies, Inc.
CIMC Enric Holdings Ltd.
Worthington Industries, Inc.
Cylinders Holding a.s.
Luxfer Holdings PLC
Faber Industrie SpA
ENK Inc.
Everest Kanto Cylinder Ltd.
Chengdu Great High-Pressure Vessel Co., Ltd.
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.
What Deliverables Will You Get in This Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Gas Carrier and Storage Pressure Vessels Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
The gas carriers and storage pressure vessels market is segmented into the following categories:
By Pressure Vessel Type
Type-I Pressure Vessels
Type-II Pressure Vessels
Type-III Pressure Vessels
Type-IV Pressure Vessels
By FuelType
CNG
LNG
RNG
Hydrogen
Others
By Region
North America (Country Analysis: USA, Canada, and Mexico)
Europe (Country Analysis: Germany, the UK, Scandinavia, Russia and Rest of Europe)
Asia-Pacific (Country Analysis: China, Japan, Australia, and Rest of Asia-Pacific)
Rest of the World (Country Analysis: Argentina, Brazil, and Others)
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s gas carriers & storage pressure vessels market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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Gas carriers and storage pressure vessels include transportation cylinders and modules used for delivering gaseous energy fuels to temporary or permanent sites which don’t have access to pipelines. Various fuels, such as Compressed Natural Gas (CNG), Liquefied Natural Gas (LNG), Renewable Natural Gas (RNG), hydrogen, and industrial gases, are being transported through these cylinder-containing modules.