CNG Tank Market Size

Compressed Natural Gas Tank Market size was over USD 11.9 billion in 2024 and is expected to reach USD 35.89 billion by the end of 2037, growing at around 8.8% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of compressed natural gas tank is assessed at USD 12.75 billion.

The reason behind the growth is impelled by the rising demand for clean fuel on a global level. Cleaner energy sources are becoming more popular globally since more renewable energy capacities are being installed.

Moreover, owing to its reduced carbon content, CNG burns cleaner than petroleum-based goods and could be used as an alternative energy source to help us get closer to a sustainable renewable energy system.

The strict government guidelines for pollution are believed to fuel market growth. The government is encouraging people to adopt green fuels owing to the growing pollution and educating them about the detouring environment, which would further boost the market growth. For instance, in India, the Council for Air Quality Management (CAQM) published a new strategy in 2022 that details sector-by-sector action plans to reduce air pollution over the following five years.