According to Cognitive Market Research, the global Composite Cylinder market size will be USD 912.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 365.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 273.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 209.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 45.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 18.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
The Type I is the fastest growing segment of the Composite Cylinder industry
