Hydrogen Tank Material Market

Hydrogen Tank Material Market worth $3,988 million by 2030

The report "Hydrogen Tank Material Market by Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Tank 1, Tank 2, Tank 3, Tank 4), End-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Pharmaceuticals), Region - Global Forecast to 2030", MarketsandMarkets: The hydrogen tank material market size is projected to reach USD 3,988 million by 2030, registering a CAGR of 22.7% from 2023 to 2030. The global hydrogen tank material market is projected to grow from USD 953 million in 2023 to USD 3,988 million by 2030, at a CAGR of 22.7% during the forecast period. Hydrogen tanks are getting widely used for storage and transportation of hydrogen gas having applications in multiple end-use industries such as automotive & transportation, industrial, chemicals, medical & pharmaceuticals, and many others.

Browse 163 market data Tables and 52 Figures spread through 212 Pages and in-depth TOC on "Hydrogen Tank Material Market by Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Tank 1, Tank 2, Tank 3, Tank 4), End-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Pharmaceuticals), Region - Global Forecast to 2030"
View detailed Table of Content here -https://www.marketsandmarkets.com/Market-Reports/hydrogen-tank-material-market-61709332.html

Carbon fiber material segment is projected to dominate the global hydrogen tank material market during the forecast period.

The hydrogen tank material market has been segmented based on the material type into metal, carbon fiber, and glass fiber. In 2022, metal segment dominated the market. During forecasted years, carbon fiber segment is expected to show significant growth and expected to dominate the market by 2030. Carbon fiber tanks are categorized into Type 3 or Type 4 tanks. In high-value applications and for higher performance, carbon fiber composite materials are used to produce hydrogen tanks.

Type 1 segment dominated the hydrogen tank material market in 2022.

The hydrogen tank material market is segmented on the basis of tank types as Type 1, Type 2, Type 3, and Type 4. Type 1 tanks are dominantly used in light-duty vehicles, whereas the Type 2, Type 3, and Type 4 are mainly employed in the medium-duty vehicles and heavy-duty vehicles. Type 4 segment is projected to be the fastest-growing segment, owing to the growth of the natural gas-powered vehicles in the automotive industry.

Industrial end-use segment dominated the hydrogen tank material market in 2022.

Various end-use industries such as automotive & transportation, industrial, chemicals, medical & pharmaceuticals, and others. In terms of value, industrial segment dominated the market in 2022. Hydrogen tanks are used diversely in various industrial applications, due to their properties, such as durability, and fuel efficiency. This dominance is due to high demand of hydrogen tanks in various applications such as metal processing, petroleum refining, and many more.

Asia Pacific is expected to be the largest market for hydrogen tank material market during the forecast period

Asia Pacific is the largest as well as the fastest growing market for hydrogen tank material. The significant growth of hydrogen tank material market is due to growing demand from automotive & transportation, chemicals, industrial, and other end-use industries. The presence of a large number of NGVs in the region is also fueling the market for hydrogen tank material in the region.

The key players in the market include Worthington Industries, Inc., (US), Luxfer Group (England), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC (US), Faber Industrie SPA (Italy), Everest Kanto Cylinders Ltd. (India), Avanco Group (Germany), Praxair Technologies, Inc. (US), and others. These manufacturers have been adapting different organic and inorganic developmental strategies over the past five years for their market growth.

Don’t miss out on business opportunities in Hydrogen Tank Material Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]

Hydrogen Tank Material Market Size,  Share & Growth Report
Report Code
CH 8664
PR Published ON
5/29/2023
Choose License Type
BUY NOW
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Hydrogen Tank Material Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status
...

Digital Virtual Assistant - MarketsandMarkets

Home