Hydrogen Storage Tanks and Transportation Market by Modular Storage (Fuel Storage, Distribution Systems), Application (Vehicles, Railways, Marine, Stationary Storage, Trailers), Tank Type (Type 1, 2, 3, 4), Pressure and Region - Global Forecast to 2030

Hydrogen Storage Tanks and Transportation Market by Modular Storage (Fuel Storage, Distribution Systems), Application (Vehicles, Railways, Marine, Stationary Storage, Trailers), Tank Type (Type 1, 2, 3, 4), Pressure and Region - Global Forecast to 2030

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.

“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.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

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.

Research Coverage:

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.

Key Benefits of Buying the Report

Government initiatives at the national and international levels amplify the impact of investment on the Hydrogen Storage Tanks and Transportation market. Robust policy frameworks, often accompanied by financial incentives, subsidies, and regulatory support, encourage widespread adoption of Hydrogen Storage Tanks and Transportation. Factors such as high initial cost and lack of infrastructure restrain the growth of the market. The growing energy transition towards renewable energy sources and rapid urbanization are expected to present lucrative opportunities for the players operating in the Hydrogen Storage Tanks and Transportation.

Product Development/ Innovation: The Hydrogen Storage Tanks and Transportation market is witnessing significant product development and innovation, driven by the growing demand for environmentally friendly, safe and sustainable products. Companies are investing in developing advanced Hydrogen Storage Tanks and Transportation technologies for various applications.

Market Development: Hexagon Purus secured an order from a significant European Original Equipment Manufacturer (OEM). The order pertains to the delivery of a mobile 700-bar hydrogen refueling station, showcasing Hexagon Purus's pivotal role in advancing hydrogen infrastructure..

Market Diversification: Hexagon Purus successfully raised USD 0.10 billion in capital, facilitating the expansion of its manufacturing capabilities to meet the demand for zero-emission mobility and hydrogen infrastructure solutions.

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include Hexagon Purus (Norway), Worthington Enterprises (US), Plastic Omnium (France), Tenaris (US), Luxfer Holdings PLC (US), among others in the Hydrogen Storage Tanks and Transportation market.