Hydrogen Tube Trailer Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Hydrogen Tube Trailer Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021 - 2026)

Evidently, greenhouse gas (GHG) emissions, and fossil fuels have a prolonged impact on the ecosystem. To this end, tremendous efforts are being made to achieve net zero targets and save fossil fuels, in turn scaling the use of hydrogen-based fuels. In this regard, the global hydrogen tube trailer market holds promising growth prospects for upcoming years. Accelerated demand for hydrogen from petrochemical industries and refineries is further creating headways for hydrogen tube trailer market expansion. Significant investments are being made in the direction of refuelling stations. In this scenario, the need for trailers is likely to soar with the growing requirement for hydrogen delivery, translating into a substantial business opportunity.

Fairfield Market Research foresees the presence of lucrative opportunities floating across the global hydrogen tube trailer market. As compared to the US$276.3 Mn valuation in 2020, the global hydrogen tube trailer market is thriving to raise its worth to US$498.6 Mn in 2026, maturing at a whopping CAGR of 10.3% during the projected years of 2021 and 2026.

Major Trends Bolstering Global Hydrogen Tube Trailer Market Growth

80% of the global hydrogen tube trailer market was garnered by Europe and Asia Pacific in the year 2020. Anticipating current trends, 3,700 hydrogen refuelling stations are expected to be added in Europe

Over the projection timeline, North America exhibits steady growth prospects with a projected growth of 10.3% CAGR from 2020 to 2026

The market recorded a worldwide demand for 90 million tons of hydrogen in 2020, in contrast to 71.1 million tons in 2015, clearly a 26.5% rise from 2015 to 2020

Significance of Hydrogen Tube Trailers in Conveyance Framework Bodes Well for Market

An operational hydrogen transportation infrastructure, with extensive security and accommodation, similar to present-day gas networks, powers the commercialisation of hydrogen fuel cell EVs. Moreso, an efficient hydrogen transportation framework is responsible for coming up with distinguishing pathways for hydrogen fuel creation. In addition, hydrogen needs to be transported in different actual states, for instance - vaporous hydrogen, fluid hydrogen, and a myriad of conceivable strong or fluid hydrogen transporters. Potentially, conveyance pathways constitute numerous parts such as pipelines, liquefiers, vaporous cylinder trailers, cryogenic fluid trucks, blowers, and stockpiling vessels. In the entire process, hydrogen tube trailers instrumentally facilitate the transit of hydrogen from the production site to the delivery destination.

Hydrogen Tube Trailer Market Stable in Europe, and Asia Pacific on Account of Massive Hydrogen Refuelling Stations

Based on region, Asia Pacific and Europe demonstrates significant growth prospects in the global hydrogen tube trailer market. The market in Asia Pacific is yet to mature, however, with greater penetration of hydrogen tube trailers it is likely to prosper in the coming years. China and Japan are leading economies in the regional market. Furthermore, India and Australia are key markets attracting players to establish their facilities. North America, on the other hand, is following the trail set by Europe and the Asia Pacific. The market in the region is flourishing with the anticipated establishment of 7,100 H2 refuelling stations by 2030 in the U.S.

Key Market Players

The most prominent players in the global hydrogen tube trailer market include Roberts Oxygen Company, Inc., Linde AG, Air Products and Chemicals, Inc., Air Liquide, Hexagon Composites ASA, Calvera, FIBA Technologies, Inc, Zhejiang Rein Gas Equipment Co., Ltd., Matar Srl., and Air Products and Chemicals, Inc. provides transportation services for liquid as well as gaseous hydrogen.

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