To Drive Global CNG ISO Tank Container Market 2019 over the Forecast Period: Ken Researchby Ashish Kumar Market Researcher
CNG (Compressed natural gas) ISO (International Organization for Standardization) tank container is made using cylinder shape with a semi-spherical shape covering every end. The cylinder &semi-spherical shapes are the strong as structural shapes have circular & spherical structure which provides identical distribution of stress throughout the internal area of tank producing maximum safety for the high-pressure vessel. CNG ISO tank are equipped with insulation, electric heating or the refrigeration, steam heating to products which require temperature control, protective linings, top and/or bottom discharge, and other modifications. These containers are suitable for safe storage and the transport of hazardous and the non-hazardous bulk liquid or the gas commodities. CNG ISO containers are safe & provide availability of the reliable fuel storage on the vehicle if properly installed, filled, protected, and maintained. These CNG ISO tanks are fabricated from 100% metal, usually a steel alloy used in light trucks, automobiles, medium & heavy-duty trucks, buses, gas transportation modules and gas transport trailers around the world. All such tank containers are built on and designed with the maximum quality and strictly with the latest international approvals or the standards. The essential benefits include the optimum safety & stout package, cost effectiveness, flexible pipeline handling and storage immediate and low cost and security.
According to study, “Global CNG ISO Tank Container Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” some of the key companies currently operating as the global CNG ISO tank container market are Hexagon Composites, Quantum Technologies, Luxfer Group, Praxair Technologies, Everest Kanto Cylinders, Faber Industrie. These manufacturers only hold ISO9001, OHSAS18000, ISO14000, and ISO/TS16949 certifications.
Based on type, global ISO tank container market is segmented into less than 25 ft, 25 to 35 ft and above 35 ft. Based on fitting devices, market is segmented into gauging devices, excess flow valves, loading or unloading valves and pressure relief devices. Gauging devices include open & closed gauging devices and rotary gauge. Based on manufacturing process, market is segmented into hot shell nosing, rough machining, bottle neck cutting, steel tube inspection, outside polishing, steam drying, quenching or heat treatment & tempering, hydrostatic testing, inner tube inspection, inner shot peening, paint spraying & assembly and non-destructive & air tight testing. Based on channel, market is segmented into distributor segmentation and direct sales. Based on application, market is segmented into vehicles transportation and others transformations.
The global CNG ISO tank container market is driven by increase in environmental awareness, followed by rise in use of natural gas for the automotive industry coupled with rise in government initiatives. Apart from the advantages, few of factors hampering the market include high prices of composite cylinders, followed by the limited refueling infrastructures. In addition, rise in price of raw materials such as glass fiber, metals, carbon fiber, and other components used in manufacturing of tank containers are some of the challenges inhibiting the growth of the market.
The CNG ISO tank container industry is concentrated with the high-end products generally coming from the Western Europe and North America. In 2019, the market in terms of value is expected to reach at US $56 million and is projected to reach at US $65 million, by 2024.
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Ankur Gupta, Head Marketing & Communications
Created on Jul 16th 2019 03:41. Viewed 192 times.