The global market for CNG tanks is expected to grow to USD 2.60 billion by 2031, according to a newly listed industry report from ResearchAndMarkets.com. The outlook points to rising demand for lighter storage systems as a key factor supporting expansion across the compressed natural gas value chain.
The report highlights Type 3 CNG tanks as an important growth segment. These tanks are typically associated with lower weight compared with more traditional options, making them increasingly relevant as vehicle makers and fleet operators look for storage solutions that can improve efficiency and support broader natural gas adoption.
Material trends are also central to the market outlook, with glass fiber composites identified as an area set for strong expansion. On the end-use side, medium-duty vehicles and fuel tank applications are expected to contribute meaningfully to future demand, reflecting continued interest in CNG across commercial transport and related mobility uses.
Regionally, the Middle East and Africa stand out as markets with notable growth potential over the forecast period. Overall, the report suggests that advances in lightweight tank design, along with demand from vehicle applications, will remain major themes shaping the global CNG tanks market through 2031.
