Carbon Fiber Pressure Vessel Market 2022: Industry Size, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2028
Carbon Fiber Pressure Vessel Market 2022: Industry Size, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2028
Discover the latest insights into the booming Carbon Fiber Pressure Vessel Market. This report analyzes market size, growth trends (CAGR ), key players, and regional performance, offering valuable data for investors and industry professionals. Explore market drivers, restraints, and future projections for -.
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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 study by Market Intellix gives insights concerning the market elements influencing the market, Market scope, Market division, and overlays shadow upon the leading market players featuring the positive cutthroat scene and patterns beating the years.
Global Carbon Fiber Pressure Vessel Market Revenue, 2017-2022, 2023-2028, ($ millions)
Global Carbon Fiber Pressure Vessel Market Sales, 2017-2022, 2023-2028, (K Units)
Global top five Carbon Fiber Pressure Vessel companies in 2021 (%)
The global Carbon Fiber Pressure Vessel market was valued at 583.2 million in 2021 and is projected to reach US$ 1166.6 million by 2028, at a CAGR of 10.4% during the forecast period 2022-2028.
The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.
Type III Segment to Reach $ Million by 2028, with a % CAGR in next six years.
The global key manufacturers of Carbon Fiber Pressure Vessel include Luxfer Group, Iljin Composites Corp, Faber Industrie SpA, Worthington Industries, 3M Scott, Shenyang Gas Cylinder, Toyota, Sinoma Science & Technology and Beijing China Tank Industry, etc. In 2021, the global top five players have a share approximately % in terms of revenue.
The study provides 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.
Segmental Outline:
Global Carbon Fiber Pressure Vessel Market, by Type, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, by Type, 2021 (%)
Type III
Type IV
Others
Global Carbon Fiber Pressure Vessel Market, by Application, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, by Application, 2021 (%)
CNG Storage Tank
SCBA/SCUBA
Hydrogen Storage Tank
Others
Global Carbon Fiber Pressure Vessel Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions) & (K Units)
Global Carbon Fiber Pressure Vessel Market Segment Percentages, By Region and Country, 2021 (%)
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, 2017-2022 (Estimated), ($ millions)
Key companies Carbon Fiber Pressure Vessel revenues share in global market, 2021 (%)
Key companies Carbon Fiber Pressure Vessel sales in global market, 2017-2022 (Estimated), (K Units)
Key companies Carbon Fiber Pressure Vessel sales share in global market, 2021 (%)
Further, the report presents profiles of competitors in the market, key players include:
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
This Report Addresses:
– Market Intelligence enables effective decision-making
– Market estimates and forecasts from 2022 to 2028
– Growth opportunities and trend analysis
– Segment and regional revenue forecast for market evaluation
– Competitive strategy and analysis of market segments
– List of product innovations to stay on top.
– The impact of COVID-19 and how to survive in these fast-growing markets.
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: 2021 VS 2028
2.2 Global Carbon Fiber Pressure Vessel Revenue, Prospects & Forecasts: 2017-2028
2.3 Global Carbon Fiber Pressure Vessel Sales: 2017-2028
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 (2017-2022)
3.6 Top 3 and Top 5 Carbon Fiber Pressure Vessel Companies in Global Market, by Revenue in 2021
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, 2021 & 2028
4.1.2 Type III
4.1.3 Type IV
4.1.4 Others
4.2 By Type - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
4.2.1 By Type - Global Carbon Fiber Pressure Vessel Revenue, 2017-2022
4.2.2 By Type - Global Carbon Fiber Pressure Vessel Revenue, 2023-2028
4.2.3 By Type - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2017-2028
4.3 By Type - Global Carbon Fiber Pressure Vessel Sales & Forecasts
4.3.1 By Type - Global Carbon Fiber Pressure Vessel Sales, 2017-2022
4.3.2 By Type - Global Carbon Fiber Pressure Vessel Sales, 2023-2028
4.3.3 By Type - Global Carbon Fiber Pressure Vessel Sales Market Share, 2017-2028
4.4 By Type - Global Carbon Fiber Pressure Vessel Price (Manufacturers Selling Prices), 2017-2028
5 Sights By Application
5.1 Overview
5.1.1 By Application - Global Carbon Fiber Pressure Vessel Market Size, 2021 & 2028
5.1.2 CNG Storage Tank
5.1.3 SCBA/SCUBA
5.1.4 Hydrogen Storage Tank
5.1.5 Others
5.2 By Application - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
5.2.1 By Application - Global Carbon Fiber Pressure Vessel Revenue, 2017-2022
5.2.2 By Application - Global Carbon Fiber Pressure Vessel Revenue, 2023-2028
5.2.3 By Application - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2017-2028
5.3 By Application - Global Carbon Fiber Pressure Vessel Sales & Forecasts
5.3.1 By Application - Global Carbon Fiber Pressure Vessel Sales, 2017-2022
5.3.2 By Application - Global Carbon Fiber Pressure Vessel Sales, 2023-2028
5.3.3 By Application - Global Carbon Fiber Pressure Vessel Sales Market Share, 2017-2028
5.4 By Application - Global Carbon Fiber Pressure Vessel Price (Manufacturers Selling Prices), 2017-2028
6 Sights by Region
6.1 By Region - Global Carbon Fiber Pressure Vessel Market Size, 2021 & 2028
6.2 By Region - Global Carbon Fiber Pressure Vessel Revenue & Forecasts
6.2.1 By Region - Global Carbon Fiber Pressure Vessel Revenue, 2017-2022
6.2.2 By Region - Global Carbon Fiber Pressure Vessel Revenue, 2023-2028
6.2.3 By Region - Global Carbon Fiber Pressure Vessel Revenue Market Share, 2017-2028
6.3 By Region - Global Carbon Fiber Pressure Vessel Sales & Forecasts
6.3.1 By Region - Global Carbon Fiber Pressure Vessel Sales, 2017-2022
6.3.2 By Region - Global Carbon Fiber Pressure Vessel Sales, 2023-2028
6.3.3 By Region - Global Carbon Fiber Pressure Vessel Sales Market Share, 2017-2028
6.4 North America
6.4.1 By Country - North America Carbon Fiber Pressure Vessel Revenue, 2017-2028
6.4.2 By Country - North America Carbon Fiber Pressure Vessel Sales, 2017-2028
6.4.3 US Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.4.4 Canada Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.4.5 Mexico Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5 Europe
6.5.1 By Country - Europe Carbon Fiber Pressure Vessel Revenue, 2017-2028
6.5.2 By Country - Europe Carbon Fiber Pressure Vessel Sales, 2017-2028
6.5.3 Germany Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.4 France Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.5 U.K. Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.6 Italy Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.7 Russia Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.8 Nordic Countries Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.5.9 Benelux Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.6 Asia
6.6.1 By Region - Asia Carbon Fiber Pressure Vessel Revenue, 2017-2028
6.6.2 By Region - Asia Carbon Fiber Pressure Vessel Sales, 2017-2028
6.6.3 China Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.6.4 Japan Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.6.5 South Korea Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.6.6 Southeast Asia Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.6.7 India Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.7 South America
6.7.1 By Country - South America Carbon Fiber Pressure Vessel Revenue, 2017-2028
6.7.2 By Country - South America Carbon Fiber Pressure Vessel Sales, 2017-2028
6.7.3 Brazil Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.7.4 Argentina Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.8 Middle East & Africa
6.8.1 By Country - Middle East & Africa Carbon Fiber Pressure Vessel Revenue, 2017-2028
6.8.2 By Country - Middle East & Africa Carbon Fiber Pressure Vessel Sales, 2017-2028
6.8.3 Turkey Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.8.4 Israel Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.8.5 Saudi Arabia Carbon Fiber Pressure Vessel Market Size, 2017-2028
6.8.6 UAE Carbon Fiber Pressure Vessel Market Size, 2017-2028
7 Manufacturers & Brands Profiles
7.1 Luxfer Group
7.1.1 Luxfer Group Corporate Summary
7.1.2 Luxfer Group Business Overview
7.1.3 Luxfer Group Carbon Fiber Pressure Vessel Major Product Offerings
7.1.4 Luxfer Group Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.1.5 Luxfer Group Key News
7.2 Iljin Composites Corp
7.2.1 Iljin Composites Corp Corporate Summary
7.2.2 Iljin Composites Corp Business Overview
7.2.3 Iljin Composites Corp Carbon Fiber Pressure Vessel Major Product Offerings
7.2.4 Iljin Composites Corp Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.2.5 Iljin Composites Corp Key News
7.3 Faber Industrie SpA
7.3.1 Faber Industrie SpA Corporate Summary
7.3.2 Faber Industrie SpA Business Overview
7.3.3 Faber Industrie SpA Carbon Fiber Pressure Vessel Major Product Offerings
7.3.4 Faber Industrie SpA Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.3.5 Faber Industrie SpA Key News
7.4 Worthington Industries
7.4.1 Worthington Industries Corporate Summary
7.4.2 Worthington Industries Business Overview
7.4.3 Worthington Industries Carbon Fiber Pressure Vessel Major Product Offerings
7.4.4 Worthington Industries Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.4.5 Worthington Industries Key News
7.5 3M Scott
7.5.1 3M Scott Corporate Summary
7.5.2 3M Scott Business Overview
7.5.3 3M Scott Carbon Fiber Pressure Vessel Major Product Offerings
7.5.4 3M Scott Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.5.5 3M Scott Key News
7.6 Shenyang Gas Cylinder
7.6.1 Shenyang Gas Cylinder Corporate Summary
7.6.2 Shenyang Gas Cylinder Business Overview
7.6.3 Shenyang Gas Cylinder Carbon Fiber Pressure Vessel Major Product Offerings
7.6.4 Shenyang Gas Cylinder Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.6.5 Shenyang Gas Cylinder Key News
7.7 Toyota
7.7.1 Toyota Corporate Summary
7.7.2 Toyota Business Overview
7.7.3 Toyota Carbon Fiber Pressure Vessel Major Product Offerings
7.7.4 Toyota Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.7.5 Toyota Key News
7.8 Sinoma Science & Technology
7.8.1 Sinoma Science & Technology Corporate Summary
7.8.2 Sinoma Science & Technology Business Overview
7.8.3 Sinoma Science & Technology Carbon Fiber Pressure Vessel Major Product Offerings
7.8.4 Sinoma Science & Technology Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.8.5 Sinoma Science & Technology Key News
7.9 Beijing China Tank Industry
7.9.1 Beijing China Tank Industry Corporate Summary
7.9.2 Beijing China Tank Industry Business Overview
7.9.3 Beijing China Tank Industry Carbon Fiber Pressure Vessel Major Product Offerings
7.9.4 Beijing China Tank Industry Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.9.5 Beijing China Tank Industry Key News
7.10 AMS Composite Cylinders
7.10.1 AMS Composite Cylinders Corporate Summary
7.10.2 AMS Composite Cylinders Business Overview
7.10.3 AMS Composite Cylinders Carbon Fiber Pressure Vessel Major Product Offerings
7.10.4 AMS Composite Cylinders Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.10.5 AMS Composite Cylinders Key News
7.11 Beijing Tianhai Industry
7.11.1 Beijing Tianhai Industry Corporate Summary
7.11.2 Beijing Tianhai Industry Carbon Fiber Pressure Vessel Business Overview
7.11.3 Beijing Tianhai Industry Carbon Fiber Pressure Vessel Major Product Offerings
7.11.4 Beijing Tianhai Industry Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.11.5 Beijing Tianhai Industry Key News
7.12 Teijin Engineering Limited
7.12.1 Teijin Engineering Limited Corporate Summary
7.12.2 Teijin Engineering Limited Carbon Fiber Pressure Vessel Business Overview
7.12.3 Teijin Engineering Limited Carbon Fiber Pressure Vessel Major Product Offerings
7.12.4 Teijin Engineering Limited Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.12.5 Teijin Engineering Limited Key News
7.13 NPROXX
7.13.1 NPROXX Corporate Summary
7.13.2 NPROXX Carbon Fiber Pressure Vessel Business Overview
7.13.3 NPROXX Carbon Fiber Pressure Vessel Major Product Offerings
7.13.4 NPROXX Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.13.5 NPROXX Key News
7.14 Doosan
7.14.1 Doosan Corporate Summary
7.14.2 Doosan Business Overview
7.14.3 Doosan Carbon Fiber Pressure Vessel Major Product Offerings
7.14.4 Doosan Carbon Fiber Pressure Vessel Sales and Revenue in Global (2017-2022)
7.14.5 Doosan Key News
8 Global Carbon Fiber Pressure Vessel Production Capacity, Analysis
8.1 Global Carbon Fiber Pressure Vessel Production Capacity, 2017-2028
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
Research Methodology:
Carbon Fiber Pressure Vessel Market Size Estimation
To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.
Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.
Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.
We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.
Data Source
Secondary Sources
This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.
These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.
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Primary Sources
As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.
On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.
These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.
Key Data Information from Primary Sources
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