Global Hydrogen Tank Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hydrogen Tank Valve Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Valves are devices used to control the flow of fluids. A hydrogen tank valve is a type of valve that is used for hydrogen at very low temperatures or high pressures in hydrogen storage. Hydrogen tank valves are widely used in the production, filling, storage, transportation and consumption of hydrogen.

Market Overview:

The latest research study on the global Hydrogen Tank Valve market finds that the global Hydrogen Tank Valve market reached a value of USD 185.28 million in 2022. It’s expected that the market will achieve USD 921.29 million by 2028, exhibiting a CAGR of 30.65% during the forecast period.

Under the goal of carbon neutrality, the development of clean energy hydrogen energy industry is in full swing. Because of its application in all aspects of the hydrogen energy industry chain, hydrogen tank valves are also ushering in a period of development. Hydrogen tank valves are widely used in emerging fields such as vehicle-mounted storage & hydrogen supply systems, fuel cell power systems, and hydrogen fueling station systems. The increasing demand for hydrogen tank valves in the downstream market has promoted the sustainable development of the industry.

1 Drivers

1.1 Hydrogen tank valve application in the automotive sector brings new growth to the market.

Hydrogen energy plays a vital role in supporting international commitments to achieve carbon neutrality by 2050 and global efforts to implement the Paris Agreement. In the automotive mobility sector, the hydrogen cycle is an effective way to decarbonize heavy traffic and achieve zero-emission mobility. Green hydrogen is produced using electricity from renewable sources (water, sun and wind) and is therefore climate-friendly and virtually emission-free. Hydrogen tank valves involved in this field include hydrogen refueling stations, on-board hydrogen supply systems and fuel cells.

1.2 Hydrogen tank valve has potential market in aviation industry.

The aviation industry aims to become carbon neutral starting in 2050, and to achieve this goal, aviation companies are committed to weaning themselves away from fossil fuels and developing new energy pathways to power the aircraft of the future. Achieving carbon neutrality will require a new aviation energy ecosystem, with significant investment, collaboration and technology development focused on green hydrogen, such as hydrogen to power aircraft, helicopters, urban air mobility vehicles (UAM) and other unmanned aerial vehicles Platform runs.

2 Challenges

2.1 Hydrogen tank valves have strict quality and industry standard requirements.

The hydrogen medium is special (small molecule, easy to permeate, hydrogen embrittlement, explosive, etc.), and the quality requirements for the valve are very high. The product needs to meet major international standards and regulations such as EC 79/2009 and HGV 3.1. Hydrogen can cause material degradation, such as embrittlement, and can also degrade surface treatments. Therefore, the correct material selection is very important, such as choosing austenitic stainless steel with a relatively high price. From the perspective of supply chain safety management, users of hydrogen tank valves will favor brands with a certain brand foundation that can meet the needs of large-scale procurement.

Region Overview:

In 2021, the share of the Hydrogen Tank Valve market in Asia Pacific stood at 80.81%.

Company Overview:

GFI Control Systems
GFI Control Systems develops and globally sells hydrogen (H2) and natural gas (CNG) systems and components for on-road and off-road transportation and industrial applications. Since 1992, GFI has been a global leader in high quality, high featured and often customized alternative fuel components and systems for many automotive, truck, bus and industrial OEM’s.

OMB Saleri

OMB Saleri is a technologically advanced mechanical Company in Brescia which produces valves for gas (LPG, methane, hydrogen), used in the automotive industry.

GFI Control Systems is one of the major players operating in the Hydrogen Tank Valve market, holding a share of 20.07% in 2022.

GFI Control Systems, OMB Saleri, Swagelok, MAGNET-SCHULTZ, Metatron are the five key players in the global Hydrogen Tank Valve market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global market in the past 5 years.

Segmentation Overview:

Cylinder Port Valve
The hydrogen cylinder port valve is usually designed for the hydrogen supply system of the high-pressure cylinder to control the output of hydrogen in the high-pressure cylinder to ensure the safety of the system.

Pressure Reducing Valve

The pressure reducing valve is the key component of the hydrogen supply system, which is in the long-term working condition of high pressure to low pressure. Once the sealing fails, the pressure of the pipeline can be continuously boosted, then the safety valve is opened, and the hydrogen supply system works abnormally.

Ball Valve

Ball valves are a common component found in hydrogen systems, used to start and stop the flow of hydrogen from one direction to the next.

Others

There are other types of valves such as needle valves and check valves for hydrogen tank valves.

Application Overview:

Hydrogen Fueling Station
A hydrogen fueling station is a storage or filling station for hydrogen, and valves for hydrogen tanks prevent the system from exceeding operating limits and help keep the system in a stable operating mode.

Automobile Assembly Plant

Automobile assembly plants produce and install hydrogen fuel cells, and hydrogen tank valves, as key components of the system, play a vital role in ensuring the safe and stable operation of various systems.

Key Companies in the global Hydrogen Tank Valve market covered in Chapter 3:

Rotarex
Schrader Pacific
FURUI Valve
Hamai Industries
MAGNET-SCHULTZ
OMB Saleri
Metatron
KITZ Corporation
SUNWISE
Swagelok
MAGFI Control Systems

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydrogen Tank Valve market from 2018 to 2029 is primarily split into:

Cylinder Port Valve
Pressure Reducing Valve
Ball Valve
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hydrogen Tank Valve market from 2018 to 2029 covers:

Hydrogen Fueling Station
Automobile Assembly Plant
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)