According to a research report “Hydrogen Storage Tanks and Transportation Market by Modular Storage (Fuel Storage, Distribution), Application (Vehicles, Rail, Marine, Stationary Storage, Trailers), Tank Type (Type 1, Type 2, Type 3, Type 4), Pressure and Region – Global Forecast to 2030″ published by MarketsandMarkets, the global hydrogen storage tanks and transportation market is estimated to be valued at USD 174 million in 2022 (estimated year) and is projected to reach USD 4,155 million by 2030 (forecast year); growing at a CAGR of 48.6% during the forecast period.
The hydrogen storage tanks and transportation market has promising growth potential due to the rising deployment and use of biofuel.
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Fixed-bed gasifier segment expected to dominate hydrogen storage tanks and transportation market, by gasifier, during the forecast period
The fixed-bed gasifier segment holds the largest share of the hydrogen storage tanks and transportation market. The large market share can be attributed to the increasing number of deployments of gasifier for small scale applications such as electricity generation and biochar in Asia Pacific and Africa.
Forest waste to witness fastest growth rate in hydrogen storage tanks and transportation market, by source, during forecast period
The hydrogen storage tanks and transportation market, by product, is divided into agricultural waste, forest waste, municipal waste and animal waste, wherein forest waste accounts for the largest share. Municipal waste is second fastest growing segment during the forecast period, the growth is attributed to increase in government initiatives on waste to energy projects.
Asia Pacific to be fastest-growing hydrogen storage tanks and transportation market during forecast period
In this report, the hydrogen storage tanks and transportation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe and Rest of the World (ROW). North America is a significant contributor to the hydrogen storage tanks and transportation market in the current scenario owing to the rapidly increasing cost-competitiveness of storage tank technology, which enable consumers to have access to clean fuel.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of a few of the top players in the hydrogen storage tanks and transportation market.
A few of the key players include Worthington Industries, Inc. (US), Plastic Omnium (France), Hexagon Purus (Norway), Tenaris (US), NPROXX (Germany), and others. The leading players are adopting various strategies to increase their share in the hydrogen storage tanks and transportation market.
The Hydrogen storage tanks and transportation market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen storage tanks and transportation market are Worthington Industries, Inc. (US), Plastic Omnium (France), Hexagon Purus (Norway), Tenaris (US), NPROXX (Germany).
