Las Colinas, TX -- (ReleaseWire) -- 01/06/2011 -- The global cylinders industry has witnessed a gradual shift from the type I steel cylinders to an increased usage of composite cylinders in various segments, with the composite cylinders market experiencing growth in support of an end product market reaching $1223 million by 2015. Composites consumption in the cylinders market is expected to witness a double digit growth rate from 2010-2015 with growing application segments and regional shift.
Lucintel, a leading global management consulting and market research firm with over thousands of clients worldwide, has analyzed the global composite cylinders market and published a comprehensive research report, ”Growth Opportunities in Global Composite Cylinders Market 2010-2015: Trends, Forecast and Market Share Analysis”.
In the last five years, production of natural gas vehicles (NGVs) rose by more than 20%, and the growth rate is expected to be the same in the next few years. The composite cylinders, though little more expensive than its traditional counterparts, has a promising future because of its weight savings, capacity advantage and other performance benefits. Metal cylinders can explode when coming contact with hazardous materials, fire or toxic fumes, but composite cylinders would rupture rather than explode.
Composite cylinders are having major applications in the transportation industry. Light weight composite cylinders provide easy portability to ambulatory patient, firemen, SCUBA divers & also increases fuel efficiency in NGVs.
Lucintel believes that the availability of substitute materials for composite cylinders do not provide a ceiling on industry profitability since composite products are continually growing, as compared to alternate products, on a cost/performance basis.
Lucintel’s research report analyzes the global composite cylinders industry, detailing its background and characteristics. The manufacturing process is reviewed and composite cylinders manufacturers are profiled. A market assessment/competitive analysis is performed and market trends (2004-2009) are analyzed. The report also puts forth a six year forecast (2010-2015), highlighting opportunities in this sector.
For a detailed table of contents and pricing information on this timely and insightful report, please contact Lucintel at +1-972-636-5056 or via email at firstname.lastname@example.org. Lucintel provides cutting edge decision support services that help you make critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit http://www.lucintel.com.