The global gas carrier & storage composite pressure vessels market is projected to witness a growth rate of 20.5% annually from 2024 to 2031, with an anticipated size of US$ 3244 million by 2031, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global gas carrier & storage composite pressure vessels market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
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Market Size in 2031 (million US$) |
3244 |
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Growth (CAGR) |
20.5% during 2024-2031 |
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Forecast Period |
2024-2031 |
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Trend Period |
2018-2022 |
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Base Year |
2023 |
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Number of Segments Covered |
3 |
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Number of Tables & Graphs |
100+ |
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Country-Level Market Assessment |
20 |
Segment Insights on the Gas Carrier & Storage Composite Pressure Vessels Market:
The global gas carrier & storage composite pressure vessels market is segmented based on pressure vessel type, fuel type, and region.
Based on pressure vessel type - The gas carrier & storage composite pressure vessels market is categorized into type-II, type-III, and type-IV vessels. Type-IV vessels led the market and are projected to experience the fastest growth in the coming years. These vessels offer key advantages over other types, including being the lightest, having lower operating costs, superior fatigue resistance, and a higher payload capacity.
Based on fuel type - The market is segmented into CNG, LNG, RNG, hydrogen, and other fuels. Hydrogen is expected to dominate the market and maintain its leadership due to growing demand for clean energy, strong government support, and increasing adoption in transportation and industrial applications. Investments in hydrogen production, storage, and refueling infrastructure, along with advancements in high-pressure storage and carrier technologies, are accelerating its growth. Its role in fuel cell vehicles, industrial processes, and grid energy storage further strengthens its market position, making hydrogen a key driver in the global transition to sustainable energy.
To know the most attractive segments, click here for a free sample of the report:
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to remain the dominant region throughout the forecast period and is projected to experience the fastest growth during the same period. This growth outlook is majorly attributed to the following–
Gas Carrier & Storage Composite Pressure Vessels Market Drivers:
Some of the key drivers listed in the report are given below.
· Industries are increasingly shifting toward hydrogen and CNG storage solutions as part of the global push for cleaner energy alternatives.
· Stricter emission regulations are driving the need for lightweight, high-pressure storage systems that can help reduce environmental impact
· The growing use of alternative fuels in transportation is boosting demand for efficient and reliable storage options. Innovations in composite materials are also making these systems safer and more durable.
· Furthermore, rising investments in energy storage infrastructure, especially for renewable energy projects and industrial gas applications, are contributing to the expansion of this market.
Top Companies in the Gas Carrier & Storage Composite Pressure Vessels Market:
The supply chain of this market comprises raw material suppliers, pressure vessel manufacturers, and end-users/gas companies. Stratview Research has identified the following companies as the top market players:
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Gas Carrier & Storage Composite Pressure Vessels Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Who are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirements? |
10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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