PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1692595
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1692595
The hydrogen tanks market is estimated at USD 1.37 Billion in 2025 and is projected to reach USD 3.78 Billion by 2030, at a CAGR of 22.5% from 2025 to 2030. The rising emphasis on clean energy and the transition toward an economy built on green hydrogen is greatly impacting the hydrogen tank market. As governments and businesses focus more heavily on sustainability and carbon footprint reduction, hydrogen will not only help decarbonize an array of transportation, industrial, and power sector use cases but is also becoming a preferred solution for storage of clean energy, particularly green hydrogen produced from renewable energy. This demand for hydrogen as an efficient, clean energy carrier, will create demand for safe and efficient storage options, resulting in stimulus for innovation and continued investment in hydrogen tanks developed for high-pressure method storage. Given the multi-faceted infrastructure being designed and built for hydrogen production storage and distribution, the market for hydrogen tanks will continue to expand at a rapid rate.
Scope of the Report | |
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Years Considered for the Study | 2023-2030 |
Base Year | 2024 |
Forecast Period | 2025-2030 |
Units Considered | Value (USD Million), Volume (Units) |
Segments | By Tank Type, By Material Type, By Pressure, By Application, and By Region |
Regions covered | Europe, North America, Asia Pacific, Middle East & Africa, and Latin America |
''In terms of value, above 500 bar pressure accounted for the third-largest share of the overall hydrogen tanks market.''
The hydrogen tank market segment with a pressure exceeding 500 bar is the third largest market segment due to its importance in supporting the efficient and safe storage of hydrogen for higher-demand applications, especially transportation, and some industrial applications. As the consumption of hydrogen grows, especially for fuel cell electric vehicles (FCEVs) and heavy-duty applications such as buses and trucks, the on-board hydrogen tanks for these applications require higher pressure tanks that can store hydrogen as a compact and energy-dense fuel. Pressures of more than 500 bar allows more hydrogen storage within tanks that can be smaller and/or lighter. Storing hydrogen at over 500 bar is important for applications such as ultra-long-range, high-performance vehicles or to meet the higher hygiene standards of some industries.
"During the forecast period, the hydrogen tanks market in North America region is projected to be the third-largest region."
North America ranks as the third largest hydrogen tanks market, supported by increasing investments in hydrogen infrastructure, government support of clean energy initiatives, and emphasis on reducing emissions in industrial and transportation applications. In particular, the US and Canada are experiencing important advancements in hydrogen production, with both governments, as well as the private sector, executing on expanding hydrogen economies. The US is particularly focused on hydrogen for fuel cell vehicles and industrial applications while Canada has emphasized green hydrogen production. The North American market is also supported by a strong automotive industry with major automotive manufacturers investing large dollars in hydrogen fuel cell technology for passenger and commercial vehicles. Demand for hydrogen storage solutions, in turn, increases demand for hydrogen tanks that can support these applications.
Prominent companies Worthington Enterprises (US), Luxfer Group (England), Hexagon Purus (Norway), Quantum Fuel Systems LLC (US), Faber Industrie S.p.A. (Italy), Everest Kanto Cylinder Ltd. (India), Beining Tianhai Industry Co. Ltd. (China), Composite Advanced Technologies, LLC (US), NPROXX (Germany), Tenaris (Luxembourg), OPmobility (France), Umoe Advanced Composites (Norway), CIMC Enric Holdings Limited (China), Doosan Mobility Innovation (South Korea), and Advanced Structural Technologies (US).
Research Coverage
This research report categorizes the hydrogen tanks market By Tank Type (Type 1, Type 2, Type 3, Type 4), By Material Type (Metal, Composite), By Pressure (Below 250 bar, 250 to 500 bar, above 500 bar), by Application (Stationary Storage, Fuel Tank, Transportation), and by Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the hydrogen tanks market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. Product launches, mergers and acquisitions, and recent developments in the hydrogen tanks market are all covered. This report includes a competitive analysis of upcoming startups in the hydrogen tanks market ecosystem.
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall hydrogen tanks market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.