Global Hydrogen Storage Tanks and Transportation Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Hydrogen storage is distributed constantly in pipelines or shipment wise by ships, railway, and trucks. A storage system is necessary for all batch transportation, and pipes can also be used as pressures storage systems. Of all chemical fuels, hydrogen has the highest thermal efficiency per weight. The key factors driving the market growth is rising demand of low emission fuels, growing utilization of hydrogen in fuel cell operated vehicles, and rapid globalization and industrialization that are anticipated to support the market growth during forecast period.
Low-emission fuels contain liquid and gaseous bio - fuels and hydrogen-derived fuels. They are crucial in the carbon reduction of energy systems in sectors like heavy industrial and long-distance transportation where other solutions, like direct electrification, are impracticable or expensive. Only approximately 1% of the world's total final energy consumption in 2021 was fueled by low-emission fuels according to IEA. Moreover, tighter environmental laws regarding the use of cleaner, low-emission fuels, and strict engine manufacturer specifications are also expected to increase the demand for hydrogen gas during the forecast period. The next set of emission restrictions, which are similar to Euro V requirements, are expected to be implemented in China in 2018 while India plans to implement Bharat Stage VI regulations in 2020. The demand for cleaner fuels is anticipated to increase dramatically over the course of the projection period as a result of a sharp 10% increase in automotive sales in the Asia Pacific area, the development of high-quality cars, and shifting customer fuel spending patterns. Additionally, growing efforts for installation of hydrogen fueling stations is anticipated to create the lucrative opportunities for the market during forecast period. However, high cost of composite material-based tank and regulatory approvals stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Hydrogen Storage Tanks and Transportation Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the dominating region across the world in terms of market share, owing to the rising demand in fertilizers, chemical, and refinery industries. Whereas, North America is also anticipated to exhibit highest growth rate over the forecast period, owing to factors such as growing demand for hydrogen storage and transportation in oil refinery would create lucrative growth prospects for the Hydrogen Storage Tanks and Transportation market across Asia Pacific region.
Major market players included in this report are:
- 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)
Recent Developments in the Market:
- In May 2022, NPROXX announced the launch of hydrogen storage tank which can power trucks and lorries. It contains two big diameter tanks that are placed one on top of the other to provide a capacity of approximately 1200 litres at 700 bar pressure.
Global Hydrogen Storage Tanks and Transportation Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Type, End-User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Gas Hydrogen
- Liquid Hydrogen
- Solid Hydrogen
By End-User:
- Chemical
- Oil & Gas
- Transportation
- Metalworking
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Hydrogen Storage Tanks and Transportation Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Hydrogen Storage Tanks and Transportation Market, by Type, 2019-2029 (USD Billion)
- 1.2.3. Hydrogen Storage Tanks and Transportation Market, by End-user, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Hydrogen Storage Tanks and Transportation Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Hydrogen Storage Tanks and Transportation Market Dynamics
- 3.1. Hydrogen Storage Tanks and Transportation Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising demand of low emission fuels
- 3.1.1.2. Rapid globalization and industrialization
- 3.1.1.3. Growing utilization of hydrogen in fuel cell operated vehicles
- 3.1.2. Market Challenges
- 3.1.2.1. High cost of composite material-based tank and regulatory approvals
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing efforts for installation of hydrogen fuel stations
Chapter 4. Global Hydrogen Storage Tanks and Transportation Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Hydrogen Storage Tanks and Transportation Market, by Type
- 6.1. Market Snapshot
- 6.2. Global Hydrogen Storage Tanks and Transportation Market by Type, Performance - Potential Analysis
- 6.3. Global Hydrogen Storage Tanks and Transportation Market Estimates & Forecasts by Type 2019-2029 (USD Billion)
- 6.4. Hydrogen Storage Tanks and Transportation Market, Sub Segment Analysis
- 6.4.1. Gas Hydrogen
- 6.4.2. Liquid Hydrogen
- 6.4.3. Solid Hydrogen
Chapter 7. Global Hydrogen Storage Tanks and Transportation Market, by End-user
- 7.1. Market Snapshot
- 7.2. Global Hydrogen Storage Tanks and Transportation Market by End-user, Performance - Potential Analysis
- 7.3. Global Hydrogen Storage Tanks and Transportation Market Estimates & Forecasts by End-user 2019-2029 (USD Billion)
- 7.4. Hydrogen Storage Tanks and Transportation Market, Sub Segment Analysis
- 7.4.1. Chemical
- 7.4.2. Oil & Gas
- 7.4.3. Transportation
- 7.4.4. Metalworking
- 7.4.5. Others
Chapter 8. Global Hydrogen Storage Tanks and Transportation Market, Regional Analysis
- 8.1. Hydrogen Storage Tanks and Transportation Market, Regional Market Snapshot
- 8.2. North America Hydrogen Storage Tanks and Transportation Market
- 8.2.1. U.S. Hydrogen Storage Tanks and Transportation Market
- 8.2.1.1. Type breakdown estimates & forecasts, 2019-2029
- 8.2.1.2. End-user breakdown estimates & forecasts, 2019-2029
- 8.2.2. Canada Hydrogen Storage Tanks and Transportation Market
- 8.3. Europe Hydrogen Storage Tanks and Transportation Market Snapshot
- 8.3.1. U.K. Hydrogen Storage Tanks and Transportation Market
- 8.3.2. Germany Hydrogen Storage Tanks and Transportation Market
- 8.3.3. France Hydrogen Storage Tanks and Transportation Market
- 8.3.4. Spain Hydrogen Storage Tanks and Transportation Market
- 8.3.5. Italy Hydrogen Storage Tanks and Transportation Market
- 8.3.6. Rest of Europe Hydrogen Storage Tanks and Transportation Market
- 8.4. Asia-Pacific Hydrogen Storage Tanks and Transportation Market Snapshot
- 8.4.1. China Hydrogen Storage Tanks and Transportation Market
- 8.4.2. India Hydrogen Storage Tanks and Transportation Market
- 8.4.3. Japan Hydrogen Storage Tanks and Transportation Market
- 8.4.4. Australia Hydrogen Storage Tanks and Transportation Market
- 8.4.5. South Korea Hydrogen Storage Tanks and Transportation Market
- 8.4.6. Rest of Asia Pacific Hydrogen Storage Tanks and Transportation Market
- 8.5. Latin America Hydrogen Storage Tanks and Transportation Market Snapshot
- 8.5.1. Brazil Hydrogen Storage Tanks and Transportation Market
- 8.5.2. Mexico Hydrogen Storage Tanks and Transportation Market
- 8.5.3. Rest of Latin America Hydrogen Storage Tanks and Transportation Market
- 8.6. Rest of The World Hydrogen Storage Tanks and Transportation Market
Chapter 9. Competitive Intelligence
- 9.1. Top Market Strategies
- 9.2. Company Profiles
- 9.2.1. Hexagon Purus (Norway)
- 9.2.1.1. Key Information
- 9.2.1.2. Overview
- 9.2.1.3. Financial (Subject to Data Availability)
- 9.2.1.4. Product Summary
- 9.2.1.5. Recent Developments
- 9.2.2. NPROXX (Germany)
- 9.2.3. Worthington Industries Inc. (US)
- 9.2.4. Tenaris (US)
- 9.2.5. Plastic Omnium (France)
- 9.2.6. Quantum Fuel Systems LLC. (US)
- 9.2.7. Composite Advanced Technologies, LLC. (US)
- 9.2.8. Pragma Industries (France)
- 9.2.9. Taian Strength Equipments Co., Ltd. (China)
- 9.2.10. Weldship Corporation (US)
Chapter 10. Research Process
- 10.1. Research Process
- 10.1.1. Data Mining
- 10.1.2. Analysis
- 10.1.3. Market Estimation
- 10.1.4. Validation
- 10.1.5. Publishing
- 10.2. Research Attributes
- 10.3. Research Assumption