DUBLIN--(BUSINESS WIRE)--Nov 22, 2022--
The "Global Type 4 Cylinder Market by Material, Diameter, Length, Application, and Region: Competition Forecast and Opportunities to 2027" report has been added to ResearchAndMarkets.com's offering.
The global type 4 cylinder market is anticipated to grow at a steady CAGR in the forecast period, 2023-2027. High demand for type 4 cylinders among the passenger and commercial vehicles and storage and transport applications and the growing number of natural gas vehicles worldwide primarily drive the demand for the global type 4 cylinder market. The demand from the other end-user industries like aerospace and defense, construction & infrastructure are further influencing the market demand. Also, the surge in research and development activities to introduce next-generation cylinders and the growing awareness about the advantages of using these cylinders are expected to bolster the global type 4 cylinder market growth over the next five years.
Advantages of Using Type 4 Cylinders Drives the Market Growth
These cylinders are basically designed for high-pressure applications. Type 4 cylinders are basically 70% lighter than their counterparts and therefore boost the gas carrying capacity of cylinders. They are able to transport two times more gas in one trip, which reduces huge CNG transportation costs and results in massive savings. All cylinders have polymer lines with special additives and are made of gas-tight PE material and are resistant to rust and fatigue.
It eliminates the chance of line leakage and contamination as there is no chance of rust and corrosion. The special non-metallic liner does not allow permeation. They are designed to be maintenance-free, and retesting requires only inspection. Type 4 cylinders have a long service life and are considered highly durable and safe. They are made up of highly advanced carbon fiber and are very strong and can store gas even at high pressure. Type 4 cylinders are the best combination of safety, efficiency, and durability. They are good for the environment. The entry of new market players offering type 4 cylinders and the growing awareness about the benefits of using type 4 cylinders are expected to propel the global type 4 cylinder market growth over the forecast period.
Booming Automotive Industry Favors the Market Growth
The automotive industry is rapidly transforming and is adopting novel and advanced features and technologies to improve the performance, fuel capacity, mileage, seating capacity, and safety of automobiles. Automakers are working on improving the performance of the engine as it is the main power supply for the vehicles and plays a vital role in moving the vehicles. Stringent emission norms and growing concerns regarding the harmful effect of greenhouse emissions on the environment are making the leading authorities promote vehicles running on compressed natural gas, which is also known as a green fuel. It has auto-ignition temperature and has a low operational cost.
Another advantage of CNG vehicles is that it increases the life of lubricating oils and does not contaminate and dilute the crankcase oil. The major advantage of using type 4 cylinders is that it supports a higher driving range which lowers the refill anxiety issues. They are lighter and do not influence the running of vehicles even if shifted to the roof of vehicles. Type 4 cylinders offer higher mileage and reduce the fuel cost per km. Growing penetration of CNG vehicles worldwide and the increased use of type 4 cylinders in vehicles are expected to bolster the global type 4 cylinder market growth over the next five years.
Report Scope
Type 4 Cylinder Market, by Material:
Type 4 Cylinder Market, by Diameter:
Type 4 Cylinder Market, by Length:
Type 4 Cylinder Market, by Application:
Type 4 Cylinder Market, by Region:
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Type 4 Cylinder Market
4. Executive Summary
5. Voice of Customer
6. Global Type 4 Cylinder Market Outlook
7. North America Type 4 Cylinder Market Outlook
8. Asia-Pacific Type 4 Cylinder Market Outlook
9. Europe Type 4 Cylinder Market Outlook
10. South America Type 4 Cylinder Market Outlook
11. Middle East & Africa Type 4 Cylinder Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Company Profiles
15. Strategic Recommendations
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/8urc10
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KEYWORD:
INDUSTRY KEYWORD: CHEMICALS/PLASTICS ENERGY MANUFACTURING OIL/GAS
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 11/22/2022 06:52 AM/DISC: 11/22/2022 06:52 AM
http://www.businesswire.com/news/home/20221122005452/en