CNG Tank Market Share

APAC Market Forecast

Compressed Natural Gas Tank market in Asia Pacific, is predicted to account for the largest share of 32% by the end of 2037 impelled by the high usage of CNG vehicles in countries such as India, China, and Pakistan, along with the growing sale of light-duty & commercial vehicles in this region. Moreover, the emission of carbon is growing in this region, which has made governments launch strict regulations in various countries.

Additionally, they are creating awareness among people to boost the adoption of CNG vehicles. Further, the preference for commercial vehicles such as buses is also growing in this region, which would also boost the CNG tank market growth in this region.

When CNG fuel is used in place of conventional fuel in public transportation and intermediate public vehicles, CO and PM emissions are reduced while HC and NO x emissions are increased. Reducing PM emissions is expected to have a significant positive influence on public health in general and health issues connected to the respiratory and cardiovascular systems in particular.

North American Market Statistics

The CNG tank market in North America is estimated to be the second largest, during the forecast timeframe led by the presence of several big market players. Owing to its size and level of development, the U.S. natural gas industry is very competitive and has a wide range of producers. This may increase the availability of funds to devote to R&D, which could result in improvements in the region's CNG tank design technology.