Carbon Fiber Pressure Vessel Market, Global Outlook and Forecast 2023-2029

Report ID: MMG99783 | Category: Machinery & Equipment | Pages: 73 | Format: PDF | Published Date: July 12,2023

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Report Summary

Carbon Fiber Reinforced Polymer Composites (CFRP) are lightweight, strong materials used in the manufacturing of numerous products used in our daily life. In general, CFRP composites use thermosetting resins such as epoxy, polyester, or vinyl ester.

Pressure vessel composite materials are used in manufacturing pressure vessels that are used to store gases and liquids under high pressure. The strength of the vessel is the critical parameter to prevent explosions as a result of the rupture. A composite material is a combination of materials differing in composition or form on a macro scale. These materials do not dissolve or otherwise merge completely into each other. Composite materials help to improve the performance and also offers a significant amount of material savings. 

Since 1970 pressure vessel manufacturers have been using continuous fibers filaments, also known as tows or roving, to improve the physical properties of pressure vessels. Starting with what the industry calls a type II vessel; high strength fibers, such as glass fiber, were wrapped around the cylindrical sections of steel and aluminum pressure vessels to add reinforcement allowing a roughly 30% reduction in overall vessel mass.

As the fiber reinforcement became more and more significant in pressure vessel design, fiber manufacturers began refining their offerings and experimenting with new fiber types like carbon fiber, which is currently the most popular reinforcement in composite pressure vessels, because of its incredible stiffness and tensile strength. In addition to carbon and glass, new fibers were created such as Kevlar a type of aramid fiber and basalt fiber. These new fibers offered contrasting mechanical properties such as impact resistance, and low temperature resistance to the pressure vessel designer’s arsenal.  

As new composite pressure vessel applications emerged, the need for unique mechanical properties and increasing economic pressures create a need for hybrid vessels which could either use distinct and separate layers of fiber for different roles such as impact/ abrasion resistance, or different fibers in the same band to get the properties of both fibers throughout the laminate.

The evolution of vessels and tanks designed to hold liquids and gases under pressure has proceeded through four distinct stages: all-metal tanks (Type I), metal hoop-wrapped composite tanks (Type II), metal-lined composite tanks (Type III) and plastic-lined composite tanks (Type IV). The fifth stage, an all-composite, linerless Type V tank has been the pressure vessel industry’s Holy Grail for years.
This report aims to provide a comprehensive presentation of the global market for Carbon Fiber Pressure Vessel, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Carbon Fiber Pressure Vessel. This report contains market size and forecasts of Carbon Fiber Pressure Vessel in global, including the following market information:
Global Carbon Fiber Pressure Vessel Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Carbon Fiber Pressure Vessel Market Sales, 2018-2023, 2024-2029, (Unit)
Global top five Carbon Fiber Pressure Vessel companies in 2022 (%)
The global Carbon Fiber Pressure Vessel market was valued at US$ 583.2 million in 2022 and is projected to reach US$ 953.4 million by 2029, at a CAGR of 7.3% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Global core carbon fiber pressure vessel manufacturers include Luxfer Group, Iljin Composites Corp, Faber Industrie SpA etc. North America is the largest market, occupied for about 30 percent, followed by South Korea, which holds around 21% market share, and China holds a share about 20%. In terms of type, type III carbon fiber pressure vessel segment occupied main global market, holds share over 70 percent. In terms of application, SCBA/SCUBA segment holds share about 26 percent close to 28% for CNG storage tank.
MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Carbon Fiber Pressure Vessel manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Carbon Fiber Pressure Vessel Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (Unit)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, by Type, 2022 (%)
    PAN-Based
    Pitch-Based
    Viscose-Based
Global Carbon Fiber Pressure Vessel Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (Unit)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, by Application, 2022 (%)
    CNG Storage Tank
    Hydrogen Storage Tank
    Others
Global Carbon Fiber Pressure Vessel Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (Unit)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, By Region and Country, 2022 (%)
    North America
        US
        Canada
        Mexico
    Europe
        Germany
        France
        U.K.
        Italy
        Russia
        Nordic Countries
        Benelux
        Rest of Europe
    Asia
        China
        Japan
        South Korea
        Southeast Asia
        India
        Rest of Asia
    South America
        Brazil
        Argentina
        Rest of South America
    Middle East & Africa
        Turkey
        Israel
        Saudi Arabia
        UAE
        Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Carbon Fiber Pressure Vessel revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Carbon Fiber Pressure Vessel revenues share in global market, 2022 (%)
Key companies Carbon Fiber Pressure Vessel sales in global market, 2018-2023 (Estimated), (Unit)
Key companies Carbon Fiber Pressure Vessel sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
    Steelhead Composites
    NPROXX
    Doosan
    Dynetek
    KIBOKO
Outline of Major Chapters:
Chapter 1: Introduces the definition of Carbon Fiber Pressure Vessel, market overview.
Chapter 2: Global Carbon Fiber Pressure Vessel market size in revenue and volume.
Chapter 3: Detailed analysis of Carbon Fiber Pressure Vessel manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Carbon Fiber Pressure Vessel in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Carbon Fiber Pressure Vessel capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.

1 Introduction to Research & Analysis Reports
    1.1 Carbon Fiber Pressure Vessel Market Definition
    1.2 Market Segments
        1.2.1 Market by Type
        1.2.2 Market by Application
    1.3 Global Carbon Fiber Pressure Vessel Market Overview
    1.4 Features & Benefits of This Report
    1.5 Methodology & Sources of Information
        1.5.1 Research Methodology
        1.5.2 Research Process
        1.5.3 Base Year
        1.5.4 Report Assumptions & Caveats
2 Global Carbon Fiber Pressure Vessel Overall Market Size
    2.1 Global Carbon Fiber Pressure Vessel Market Size: 2022 VS 2029
    2.2 Global Carbon Fiber Pressure Vessel Revenue, Prospects & Forecasts: 2018-2029
    2.3 Global Carbon Fiber Pressure Vessel Sales: 2018-2029
3 Company Landscape
    3.1 Top Carbon Fiber Pressure Vessel Players in Global Market
    3.2 Top Global Carbon Fiber Pressure Vessel Companies Ranked by Revenue
    3.3 Global Carbon Fiber Pressure Vessel Revenue by Companies
    3.4 Global Carbon Fiber Pressure Vessel Sales by Companies
    3.5 Global Carbon Fiber Pressure Vessel Price by Manufacturer (2018-2023)
    3.6 Top 3 and Top 5 Carbon Fiber Pressure Vessel Companies in Global Market, by Revenue in 2022
    3.7 Global Manufacturers Carbon Fiber Pressure Vessel Product Type
    3.8 Tier 1, Tier 2 and Tier 3 Carbon Fiber Pressure Vessel Players in Global Market
        3.8.1 List of Global Tier 1 Carbon Fiber Pressure Vessel Companies
        3.8.2 List of Global Tier 2 and Tier 3 Carbon Fiber Pressure Vessel Companies
4 Sights by Product
    4.1 Overview
        4.1.1 By Type - Global Carbon Fiber Pressure Vessel Market Size Markets, 2022 & 2029
        4.1.2 PAN-Based
        4.1.3 Pitch-Based
        4.1.4 Viscose-Based
    4.2 By Type - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
        4.2.1 By Type - Global Carbon Fiber Pressure Vessel Revenue, 2018-2023
        4.2.2 By Type - Global Carbon Fiber Pressure Vessel Revenue, 2024-2029
        4.2.3 By Type - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2018-2029
    4.3 By Type - Global Carbon Fiber Pressure Vessel Sales & Forecasts
        4.3.1 By Type - Global Carbon Fiber Pressure Vessel Sales, 2018-2023
        4.3.2 By Type - Global Carbon Fiber Pressure Vessel Sales, 2024-2029
        4.3.3 By Type - Global Carbon Fiber Pressure Vessel Sales Market Share, 2018-2029
    4.4 By Type - Global Carbon Fiber Pressure Vessel Price (Manufacturers Selling Prices), 2018-2029
5 Sights by Application
    5.1 Overview
        5.1.1 By Application - Global Carbon Fiber Pressure Vessel Market Size, 2022 & 2029
        5.1.2 CNG Storage Tank
        5.1.3 Hydrogen Storage Tank
        5.1.4 Others
    5.2 By Application - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
        5.2.1 By Application - Global Carbon Fiber Pressure Vessel Revenue, 2018-2023
        5.2.2 By Application - Global Carbon Fiber Pressure Vessel Revenue, 2024-2029
        5.2.3 By Application - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2018-2029
    5.3 By Application - Global Carbon Fiber Pressure Vessel Sales & Forecasts
        5.3.1 By Application - Global Carbon Fiber Pressure Vessel Sales, 2018-2023
        5.3.2 By Application - Global Carbon Fiber Pressure Vessel Sales, 2024-2029
        5.3.3 By Application - Global Carbon Fiber Pressure Vessel Sales Market Share, 2018-2029
    5.4 By Application - Global Carbon Fiber Pressure Vessel Price (Manufacturers Selling Prices), 2018-2029
6 Sights by Region
    6.1 By Region - Global Carbon Fiber Pressure Vessel Market Size, 2022 & 2029
    6.2 By Region - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
        6.2.1 By Region - Global Carbon Fiber Pressure Vessel Revenue, 2018-2023
        6.2.2 By Region - Global Carbon Fiber Pressure Vessel Revenue, 2024-2029
        6.2.3 By Region - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2018-2029
    6.3 By Region - Global Carbon Fiber Pressure Vessel Sales & Forecasts
        6.3.1 By Region - Global Carbon Fiber Pressure Vessel Sales, 2018-2023
        6.3.2 By Region - Global Carbon Fiber Pressure Vessel Sales, 2024-2029
        6.3.3 By Region - Global Carbon Fiber Pressure Vessel Sales Market Share, 2018-2029
    6.4 North America
        6.4.1 By Country - North America Carbon Fiber Pressure Vessel Revenue, 2018-2029
        6.4.2 By Country - North America Carbon Fiber Pressure Vessel Sales, 2018-2029
        6.4.3 US Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.4.4 Canada Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.4.5 Mexico Carbon Fiber Pressure Vessel Market Size, 2018-2029
    6.5 Europe
        6.5.1 By Country - Europe Carbon Fiber Pressure Vessel Revenue, 2018-2029
        6.5.2 By Country - Europe Carbon Fiber Pressure Vessel Sales, 2018-2029
        6.5.3 Germany Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.4 France Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.5 U.K. Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.6 Italy Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.7 Russia Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.8 Nordic Countries Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.5.9 Benelux Carbon Fiber Pressure Vessel Market Size, 2018-2029
    6.6 Asia
        6.6.1 By Region - Asia Carbon Fiber Pressure Vessel Revenue, 2018-2029
        6.6.2 By Region - Asia Carbon Fiber Pressure Vessel Sales, 2018-2029
        6.6.3 China Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.6.4 Japan Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.6.5 South Korea Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.6.6 Southeast Asia Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.6.7 India Carbon Fiber Pressure Vessel Market Size, 2018-2029
    6.7 South America
        6.7.1 By Country - South America Carbon Fiber Pressure Vessel Revenue, 2018-2029
        6.7.2 By Country - South America Carbon Fiber Pressure Vessel Sales, 2018-2029
        6.7.3 Brazil Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.7.4 Argentina Carbon Fiber Pressure Vessel Market Size, 2018-2029
    6.8 Middle East & Africa
        6.8.1 By Country - Middle East & Africa Carbon Fiber Pressure Vessel Revenue, 2018-2029
        6.8.2 By Country - Middle East & Africa Carbon Fiber Pressure Vessel Sales, 2018-2029
        6.8.3 Turkey Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.8.4 Israel Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.8.5 Saudi Arabia Carbon Fiber Pressure Vessel Market Size, 2018-2029
        6.8.6 UAE Carbon Fiber Pressure Vessel Market Size, 2018-2029
7 Manufacturers & Brands Profiles
    7.1 Steelhead Composites
        7.1.1 Steelhead Composites Company Summary
        7.1.2 Steelhead Composites Business Overview
        7.1.3 Steelhead Composites Carbon Fiber Pressure Vessel Major Product Offerings
        7.1.4 Steelhead Composites Carbon Fiber Pressure Vessel Sales and Revenue in Global (2018-2023)
        7.1.5 Steelhead Composites Key News & Latest Developments
    7.2 NPROXX
        7.2.1 NPROXX Company Summary
        7.2.2 NPROXX Business Overview
        7.2.3 NPROXX Carbon Fiber Pressure Vessel Major Product Offerings
        7.2.4 NPROXX Carbon Fiber Pressure Vessel Sales and Revenue in Global (2018-2023)
        7.2.5 NPROXX Key News & Latest Developments
    7.3 Doosan
        7.3.1 Doosan Company Summary
        7.3.2 Doosan Business Overview
        7.3.3 Doosan Carbon Fiber Pressure Vessel Major Product Offerings
        7.3.4 Doosan Carbon Fiber Pressure Vessel Sales and Revenue in Global (2018-2023)
        7.3.5 Doosan Key News & Latest Developments
    7.4 Dynetek
        7.4.1 Dynetek Company Summary
        7.4.2 Dynetek Business Overview
        7.4.3 Dynetek Carbon Fiber Pressure Vessel Major Product Offerings
        7.4.4 Dynetek Carbon Fiber Pressure Vessel Sales and Revenue in Global (2018-2023)
        7.4.5 Dynetek Key News & Latest Developments
    7.5 KIBOKO
        7.5.1 KIBOKO Company Summary
        7.5.2 KIBOKO Business Overview
        7.5.3 KIBOKO Carbon Fiber Pressure Vessel Major Product Offerings
        7.5.4 KIBOKO Carbon Fiber Pressure Vessel Sales and Revenue in Global (2018-2023)
        7.5.5 KIBOKO Key News & Latest Developments
8 Global Carbon Fiber Pressure Vessel Production Capacity, Analysis
    8.1 Global Carbon Fiber Pressure Vessel Production Capacity, 2018-2029
    8.2 Carbon Fiber Pressure Vessel Production Capacity of Key Manufacturers in Global Market
    8.3 Global Carbon Fiber Pressure Vessel Production by Region
9 Key Market Trends, Opportunity, Drivers and Restraints
    9.1 Market Opportunities & Trends
    9.2 Market Drivers
    9.3 Market Restraints
10 Carbon Fiber Pressure Vessel Supply Chain Analysis
    10.1 Carbon Fiber Pressure Vessel Industry Value Chain
    10.2 Carbon Fiber Pressure Vessel Upstream Market
    10.3 Carbon Fiber Pressure Vessel Downstream and Clients
    10.4 Marketing Channels Analysis
        10.4.1 Marketing Channels
        10.4.2 Carbon Fiber Pressure Vessel Distributors and Sales Agents in Global
11 Conclusion
12 Appendix
    12.1 Note
    12.2 Examples of Clients
    12.3 Disclaimer

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Carbon Fiber Pressure Vessel Market, Global Outlook and Forecast 2023-2029

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