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Hydrogen Storage Tanks & Transportation Market Analysis
- Report ID: GMI5699
- Published Date: May 2023
- Report Format: PDF
Hydrogen Storage Tanks & Transportation Market Analysis
The industry share from the carbon fibers segment will observe a growth rate of over 31% till 2032. Carbon fiber demonstrates superior corrosion resistance and has a high strength-to-weight ratio. Moreover, carbon fiber tanks also have the potential to store hydrogen at high pressure when compared to traditional metal-based counterparts. Additionally, the material helps capture hydrogen in a compact space, making it lightweight.
The hydrogen storage tanks & transportation market from the 200 – 500 bar segment surpassed USD 350 million in 2023. The 200-500 bar pressure for hydrogen storage tanks & transportation is ideal for the aerospace industry. Rising investments by governments in developed and developing economies in the aerospace industry are accelerating sector growth. However, the growing demand for hydrogen tanks and transportation can also be credited to expanding the scope of hydrogen technology in FCVs and high-pressure industrial operations.
Asia Pacific hydrogen storage tanks & transportation industry size is estimated to surpass USD 5.7 billion by 2032. Growing government focus on clean energy has increased product uptake in the region. As per the World Economic Forum, in the financial year 2021-22, India made an investment of around USD 14.5 billion in renewable energy, up by 125% as compared with the financial year 2020-21.
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Hydrogen Storage Tanks & Transportation Market Scope
