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Hydrogen Storage Tanks & Transportation Market Trends

Report ID: GMI5699
Published Date: Dec 2024
Report Format: PDF

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Hydrogen Storage Tanks & Transportation Market Trends

Increased investment in hydrogen infrastructure, along with the ongoing global decarbonization efforts will foster the business landscape. Innovations in high-pressure composite tanks and cryogenic storage solutions are enhancing safety and cost-efficiency, addressing key industry challenges. Additionally, the development of hydrogen corridors and pipelines underscores the growing commitment to establishing robust hydrogen supply chains. These trends indicate a promising trajectory for the market as it adapts to the rising demand for clean energy solutions.

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

The market size of hydrogen storage tanks & transportation reached USD 1.3 billion in 2024 and is set to grow at a 28% CAGR from 2025 to 2034, driven by the growing adoption of hydrogen-powered vehicles.

The 200 – 500 bar segment is expected to grow at a rate of over 27% through 2034, led by government investments in the aerospace sector and the expanding application of hydrogen technology in fuel cell vehicles.

The U.S. market is set to reach over USD 1.8 billion by 2034, fueled by federal support, innovations in storage and transportation systems, and the development of hydrogen hubs and infrastructure.

The key players in the industry include BayoTech, Composite Advanced Technologies, Doosan Mobility Innovation, ECS GmbH & Co. KG, Hensoldt, Hexagon Purus, Luxfer Gas Cylinders, Mahytec, Marine Service Noord, NPROXX, Plastic Omnium, Pragma Industries, Quantum Fuel Systems, Steelhead Composites, Tenaris, Umoe Advanced Composites, Weldship Corporation, and Worthington Industries.