PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1463249
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1463249
The global Hydrogen Storage Tanks and Transportation market is estimated to grow from USD 0.3 billion in 2024 to USD 4.4 billion by 2030; it is expected to record a CAGR of 52.4% during the forecast period. Government mandates and incentives promoting renewable energy sources, including hydrogen, drive the demand for hydrogen storage and transportation infrastructure. In regions such as Asia Pacific and Europe there is an increase in the number of fuel cell vehicles. With this rising adoption of fuel cell vehicles, demand for hydrogen stationary storage systems and trailers for hydrogen transportation has increased.
Scope of the Report | |
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Years Considered for the Study | 2020-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD Billion) |
Segments | Hydrogen Storage Tanks and Transportation Market by tank type, pressure, modular storage, material type, application, and Region. |
Regions covered | North America, Europe, Asia Pacific, and RoW. |
"Hydrogen Distribution Systems": The second largest segment of the Hydrogen Storage Tanks and Transportation market, by modular storage "
Based on modular Storage, the Hydrogen Storage Tanks and Transportation market has been segmented into Hydrogen Distribution Systems and Hydrogen Fuel Storage Systems. The Hydrogen Distribution Systems is expected to be the second largest segment during the forecast period. Increasing awareness of hydrogen as a clean energy source, coupled with the demand for zero-emission transportation solutions, drives the adoption of hydrogen-powered vehicles and, consequently, the need for distribution infrastructure.
"By pressure, the above 500 bar segment is expected to be the fastest growing segment during the forecast period."
Based on pressure, the Hydrogen Storage Tanks and Transportation market is segmented into below 200 bars, 200 to 500 bars and Above 500 bars. The above 500 bars segment is expected to be the fastest-growing segment of the Hydrogen Storage Tanks and Transportation market during the forecast period. Advances in tank design, such as conformable tanks and cryogenic tanks, allow for compact and efficient storage of hydrogen at pressures below 500 bars, enhancing market feasibility.
"North America is expected to be the largest region in the Hydrogen Storage Tanks and Transportation market."
North America is expected to be the largest region in the Hydrogen Storage Tanks and Transportation market during the forecast period. The proliferation of hydrogen refueling stations across North America is a pivotal catalyst for the widespread adoption of hydrogen-powered transportation solutions. This growth in refueling infrastructure not only addresses the immediate need for convenient fuel access but also signals confidence in the long-term viability and scalability of hydrogen as a clean energy alternative.
By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3 - 11%
By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
By Region: North America- 10%, Europe- 25%, Asia Pacific- 35%, RoW - 30%
Note: Others include sales managers, engineers, and regional managers.
Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million
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 Hexagon Purus (Norway), Worthington Enterprises (US), Plastic Omnium (France), Tenaris (US), Luxfer Holdings PLC (England). The major strategy adopted by the players includes new product launches, contracts, agreements, partnerships, joint ventures, acquisitions, and investments & expansions.
The report defines, describes, and forecasts the global Hydrogen Storage Tanks and Transportation market by tank type, pressure, modular storage, material type and application, and Region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the Hydrogen Storage Tanks and Transportation market.
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