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Hydrogen Storage Tanks & Transportation Market Trends

Report ID: GMI5699
Published Date: May 2023
Report Format: PDF

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Hydrogen Storage Tanks & Transportation Market Trends

Focused efforts towards limiting carbon emissions worldwide are emerging as a key trend driving hydrogen storage tanks & transportation market development. For instance, the European Parliament is taking various steps toward mitigating CO2 emissions, including the adoption of the European Climate Law, which increases the EU’s net GHG emission reduction target by at least 55% by 2030. Such initiatives are likely to increase demand for clean energy solutions such as hydrogen, and in turn, foster industry growth of the hydrogen storage tanks & transportation.

Authors: Ankit Gupta, Abhishek chopra

Frequently Asked Questions (FAQ) :

The market size of hydrogen storage tanks & transportation was reached USD 906.9 million in 2023 and is projected to register 31.1% CAGR during 2024 to 2032, owing to surging investments in hydrogen fueling infrastructure.

The 200 – 500 bar hydrogen storage tanks & transportation industry surpassed over USD 260 million in 2022, on account of increasing investments by the government in the aerospace industry globally.

Asia Pacific hydrogen storage tanks & transportation sector is estimated to amass USD 5.5 billion by 2032, due to increasing focus of government towards clean energy in the region.

Some of the leading hydrogen storage tanks & transportation business participants are Umoe Advanced Composites, Pragma Industries, Tenaris, Composite Advanced Technologies, LLC., Plastic Omnium, Weldship Corporation, and Quantum Fuel Systems LLC, among others.