What is Global Carbon Fiber Pressure Vessel Market?
The Global Carbon Fiber Pressure Vessel Market is a rapidly expanding sector that focuses on the production and distribution of carbon fiber pressure vessels. These vessels are essentially containers that can withstand high pressure, and are typically used in industries such as aerospace, automotive, and industrial gas storage. The carbon fiber material used in these vessels is renowned for its high strength-to-weight ratio, making it an ideal choice for pressure vessel construction. The global market for these vessels is driven by increasing demand from various industries, advancements in carbon fiber technology, and the growing need for lightweight and durable pressure vessels. The market is also influenced by regulatory standards and guidelines related to safety and performance of pressure vessels.
Type III, Type IV, Others in the Global Carbon Fiber Pressure Vessel Market:
The Global Carbon Fiber Pressure Vessel Market is segmented into Type III, Type IV, and others. Type III vessels are made from carbon fiber and a liner made from aluminium or plastic, offering a balance between cost and performance. They are commonly used in applications where weight and cost are critical factors. On the other hand, Type IV vessels are entirely made of carbon fiber and plastic, providing the highest performance in terms of weight and durability, but at a higher cost. These are typically used in high-end applications where performance is paramount. The 'Others' category includes vessels that are made from a combination of different materials, or those that do not fit into the Type III or Type IV categories. Each type has its own set of advantages and disadvantages, and the choice between them depends on the specific requirements of the application.
CNG Storage Tank, SCBA/SCUBA, Hydrogen Storage Tank, Others in the Global Carbon Fiber Pressure Vessel Market:
The Global Carbon Fiber Pressure Vessel Market finds its usage in various areas such as CNG Storage Tank, SCBA/SCUBA, Hydrogen Storage Tank, and others. In CNG storage tanks, these vessels are used due to their high strength and lightweight properties, which make them ideal for storing compressed natural gas. In SCBA/SCUBA, carbon fiber pressure vessels are used in self-contained breathing apparatus and scuba diving equipment for storing high-pressure air. They are preferred for their durability, light weight, and resistance to corrosion. For hydrogen storage tanks, carbon fiber pressure vessels offer a safe and efficient solution for storing hydrogen at high pressures. The 'Others' category includes various other applications where carbon fiber pressure vessels are used, such as in aerospace and industrial gas storage.
Global Carbon Fiber Pressure Vessel Market Outlook:
The Global Carbon Fiber Pressure Vessel Market has shown significant growth in recent years. In 2023, the market was valued at US$ 566.8 million and is expected to more than double to US$ 1211.2 million by 2030, growing at a compound annual growth rate (CAGR) of 10.9% during the forecast period from 2024 to 2030. North America is the leading market, accounting for about 30% of the global market share, followed by South Korea and China, which hold 21% and 20% of the market share respectively. When it comes to the type of carbon fiber pressure vessels, Type III holds the majority of the market share, accounting for over 70% of the global market. In terms of application, SCBA/SCUBA and CNG storage tanks hold a significant portion of the market, with shares of about 26% and 28% respectively.
| Report Metric | Details |
| Report Name | Carbon Fiber Pressure Vessel Market |
| Accounted market size in 2023 | US$ 566.8 million |
| Forecasted market size in 2030 | US$ 1211.2 million |
| CAGR | 10.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Luxfer Group, Iljin Composites Corp, Faber Industrie SpA, Worthington Industries, 3M Scott, Shenyang Gas Cylinder, Toyota, Sinoma Science & Technology, Beijing China Tank Industry, AMS Composite Cylinders, Beijing Tianhai Industry, Teijin Engineering Limited, NPROXX, Doosan |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
