The market for Hydrogen Storage Tanks and Transportation strives to address critical issues in the hydrogen economy. Goals include increasing hydrogen storage capacity, safety, and efficiency as a sustainable energy carrier. The goals include creating advanced storage technologies such as compressed and liquefied hydrogen, as well as enabling seamless transfer to power various sectors and promoting sustainability.
The global hydrogen storage tanks and transportation market is estimated to grow from USD 174 million in 2022 to USD 4,155 million by 2030, at a CAGR of 48.6%
Company Profiles
Hexagon Purus (Norway), NPROXX (Germany), Worthington Industries Inc. (US), Tenaris (US), Plastic Omnium (France), Quantum Fuel Systems LLC. (US), Composite Advanced Technologies, LLC. (US), Pragma Industries (France), Taian Strength Equipments Co., Ltd. (China), Weldship Corporation (US), Umoe Advanced Composite (Japan), Luxfer Gas Cylinders (England), BayoTech (US), Marine Service Noord (Netherlands), Steelhead Composites, Inc. (US), MAHYTEC (France), Doosan Mobility Innovation (South Korea), AMS Composite Cylinders (UK), BNH Gas Tanks LLP (India), Shijiazhuang Enric Gas Equipment Co., Ltd. (China), and CALVERA HYDROGEN (Spain)
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Key Attributes:
Market Dynamics
Drivers
- Rising Demand for Low-Emission Fuels
- Increasing Usage of Hydrogen Storage Tanks in Transportation Applications
- Development of Hydrogen Infrastructure Across Various Countries
Restraints
- Less Efficient Compared with Other Storage Technologies in Terms of Power Storage
- High Cost of Composite Material-based Tanks and Strict Regulatory Approvals
Opportunities
- Increasing Efforts by Governments for Installation of Hydrogen Fueling Stations
- Increasing Government Initiatives to Support Development of Hydrogen Economy
Challenges
- Impact of Fluctuating Oil Prices on Hydrogen Storage Tanks Market
- Trends/Disruptions Impacting Customer Business
- Revenue Shift and New Revenue Pockets for Hydrogen Storage Tanks and Transportation Providers
Case Study Analysis
- Hydrogen-Powered Mine Truck for Anglo American Mine
- Renewable Hydrogen Technology, Electric Hydrogen Partnership Hopes to Repeat Its Success
This research report categorizes the hydrogen storage tanks and transportation market by modular storage, application, tank type, pressure and region.
On the basis of by modular storage:
- Hydrogen Fuel Storage Systems
- Hydrogen Distribution Systems
On the basis of by application:
- Vehicle
- Railway
- Marine
- Stationary Storage
- Trailer for H2 Transportation
On the basis of by tank type:
- Type 1
- Type 2
- Type 3
- Type 4
On the basis of by pressure:
- Below 200 Bar
- 200-500 Bar
- Above 500 Bar
On the basis of region:
- Asia Pacific
- North America
- Europe
- Rest of the World
As the hydrogen economy gathers traction, the competitive landscape of the Hydrogen Storage Tanks and Transportation industry is changing. Air Liquide and Linde, for example, are leveraging their expertise in industrial gas solutions to develop innovative storage and transportation technology. Newcomers, such as Hexagon Purus and Nikola Corporation, are focused on new composite materials and fuel cell integration for storage solutions.
As governments throughout the world pursue decarbonization, the competitive analysis reveals a fluid landscape in which technological innovation and collaboration play critical roles in propelling the hydrogen storage and transportation sector ahead.
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During the projection period, Asia Pacific is expected to be the largest market.
During the projection period, Asia Pacific will be the largest and fastest-growing region in the hydrogen storage tanks and transportation market. The Asia Pacific hydrogen storage tanks and transportation market is expanding as a result of increased production of power for rural areas and green fuel due to increased demand from the petrochemical industry.
