Hydrogen Storage Tanks and Transportation Market

The hydrogen storage tanks and transportation market is projected to grow from USD 295.5 million in 2026 to USD 2,280.6 million by 2031, at a CAGR of 50.5%.  This rapid growth can largely be attributed to the fast-paced global shift toward using hydrogen as a key source of fuel. Hydrogen is becoming a major energy source for industries and sectors that are difficult to decarbonize. This has stimulated an increasing need for the safe, efficient, and high-performance storage and transportation of hydrogen. Millennia of innovation and progress in various sectors have led to the use of hydrogen storage tanks designed for the storage, transfer, and consumption of hydrogen in the fields of transport, industry, and energy, as well as vehicles and transportation systems such as tube trailers and liquid hydrogen.

The market is witnessing significant momentum from the rapid deployment of hydrogen-powered buses, trucks, railways, marine vessels, and stationary storage systems, particularly across Asia Pacific, Europe, and North America. The expansion of hydrogen refueling infrastructure, commercialization of fuel cell electric vehicles (FCEVs), and growing adoption of hydrogen in industrial decarbonization are creating sustained demand for advanced Type III and Type IV composite tanks and cryogenic liquid hydrogen storage systems. At the same time, technological advancements in carbon fiber composites, lightweight pressure vessels, and liquid hydrogen transportation are improving storage efficiency, reducing system weight, and lowering lifecycle costs, making hydrogen storage solutions increasingly viable for large-scale commercial deployment.

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Key players in the global hydrogen storage tanks and transportation market include Hexagon Purus (Norway), Plastic Omnium (France), Toyoda Gosei (Japan), Tenaris (Luxembourg), Luxfer Holdings PLC (UK), Rheinmetall AG (Germany), Everest Kanto Cylinder Ltd. (India), NPROXX (Netherlands), Quantum Fuel Systems LLC (US), Composite Advanced Technologies, LLC (US), UMOE Advanced Composites (Norway), FORVIA H2 Mobility (France), Steelhead Composites, Inc. (US), Hanwha Cimarron (US), Doosan Mobility Innovation (South Korea), AMS Composite Cylinders (China), BNS Composite Cylinders (China), and BHI Gas Tanks (India). These companies are strengthening their market positions through product innovation, strategic partnerships, manufacturing capacity expansions, acquisitions, and long-term supply agreements. Their focus is on developing lightweight, high-pressure hydrogen storage solutions that support the growing demand from fuel cell vehicles, hydrogen refueling infrastructure, industrial gas transportation, and stationary energy storage applications.

Recent developments show how quickly the industry is commercializing. In March 2025, Hexagon Purus landed a contract with Mitsubishi Fuso Truck and Bus Corporation to supply hydrogen storage systems for fuel cell electric trucks in Japan. FORVIA is building its range of Type IV composite hydrogen storage systems for commercial vehicles. Meanwhile, NPROXX is increasing production of high-pressure composite tanks to meet the growing demand from the mobility and industrial sectors. Hanwha Cimarron has expanded its hydrogen storage options for transportation and aerospace applications. Rheinmetall AG is also growing its hydrogen technology range by investing in hydrogen storage systems. These efforts are speeding up technological progress and aiding the global shift toward a hydrogen-based energy economy.

Hexagon Purus

Hexagon Purus is a leading provider of zero-emission mobility and clean energy solutions, specializing in hydrogen storage systems, battery systems, vehicle integration, and hydrogen distribution infrastructure. The company develops high-pressure composite cylinders, complete hydrogen storage systems, battery packs, and hydrogen transportation solutions for fuel cell electric vehicles (FCEVs), heavy-duty trucks, buses, rail, marine, and aerospace applications. In the Hydrogen Storage Tanks and Transportation market, Hexagon Purus offers Type IV high-pressure composite hydrogen storage cylinders, complete onboard storage systems, hydrogen distribution modules, tube trailers, and mobile hydrogen transport solutions. The company has manufacturing facilities across Europe, North America, and Asia, enabling it to serve global OEMs and hydrogen infrastructure developers. Hexagon Purus continues to strengthen its market position through strategic partnerships, product innovation, and capacity expansion. In March 2025, the company secured a contract to supply hydrogen storage systems for Mitsubishi Fuso Truck and Bus Corporation's fuel cell electric trucks in Japan, reinforcing its presence in the heavy-duty hydrogen mobility market.

NPROXX

NPROXX is a global manufacturer of high-pressure composite pressure vessels and hydrogen storage systems for mobility, industrial, and energy applications. The company specializes in the design and production of Type III and Type IV composite cylinders for hydrogen storage, serving applications such as passenger vehicles, buses, trucks, railways, marine vessels, stationary energy storage, and hydrogen transportation. In the hydrogen storage tanks and transportation market, NPROXX provides lightweight high-pressure hydrogen storage systems, onboard fuel storage solutions, transport modules, and industrial storage cylinders. Headquartered in the Netherlands, the company operates manufacturing and engineering facilities in Europe and North America and collaborates with leading automotive OEMs, industrial gas companies, and hydrogen infrastructure providers. NPROXX continues to expand its manufacturing capabilities and product portfolio to address the growing demand for hydrogen mobility and clean energy infrastructure, with ongoing investments in advanced composite technologies and large-scale production of high-pressure hydrogen storage systems.

Market Ranking

The hydrogen storage tanks and transportation market is very competitive. The top five players are Hexagon Purus (Norway), Plastic Omnium (France), Tenaris (Luxembourg), Luxfer Holdings PLC (UK), and NPROXX (Netherlands). Together, they hold a significant share of the global market. Competition stems from ongoing product innovation, improvements in lightweight composite storage technologies, collaborations with automotive manufacturers and hydrogen infrastructure developers, and investments in expanding manufacturing capacity. Hexagon Purus has built a strong global presence with its wide range of Type IV hydrogen storage systems and transportation solutions. Plastic Omnium is enhancing its position with advanced onboard hydrogen storage systems for fuel cell vehicles. Tenaris uses its experience in steel tubular products to support high-pressure hydrogen storage and transportation infrastructure. Luxfer Holdings PLC is a key supplier of high-pressure composite cylinders for mobility and industrial uses. NPROXX is continually expanding its production for Type III and Type IV composite pressure vessels that serve transportation, stationary storage, and industrial gas markets.

As the adoption of hydrogen grows in mobility, industry, and energy sectors, market players are focusing more on technology innovation, partnerships, and geographic expansion. They aim to strengthen their competitive positions and meet the rising demand for hydrogen storage and transportation solutions.

Related Reports:

Hydrogen Storage Tanks and Transportation Market by Modular Storage (Fuel Storage, Distribution Systems), Tank Type (Type I, II, III, IV), Application (Vehicles, Railways, Marine, Stationary Storage, Trailer), Pressure and Region - Global Forecast to 2031

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