Global CNG Cylinder Market to Reach USD 5.9 Billion by 2032 at 8.2% CAGR

The CNG Cylinder market is expanding rapidly due to rising adoption of compressed natural gas (CNG) vehicles and increasing focus on cleaner fuels. In 2023, the global CNG cylinder market was valued at USD 2.9 billion, up from USD 2.6 billion in 2022, reflecting a 11.5% year-over-year (YoY) growth. The market is projected to reach USD 5.9 billion by 2032, growing at a CAGR of 8.2% from 2024 to 2032.

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