Hydrogen Tanks Market worth $3.78 billion in 2030 - Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., March 25, 2025 /PRNewswire/ -- The report "Hydrogen Tanks Market by Tank Type (Type 1, Type 2, Type 3, Type 4), Material Type (Metal, Composite), Pressure (Below 250 bar 250 to 500 bar, Above 500 bar), Application (Stationary Storage, Fuel Tank, Transportation), & Region - Global Forecast to 2030", size is expected to reach USD 3.78 billion in 2030 from USD 1.37 billion in 2025, at a CAGR of 22.5% from 2025 to 2030.
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120 – Tables
60 – Figures
200 – Pages
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The market for hydrogen tanks is influenced by several primary factors such as the existence of numerous manufacturers, government support, and increased hydrogen production. The rising number of manufacturers around the world is encouraging competition and innovation, and as a result, sophisticated and affordable hydrogen storage technologies are being developed. Government incentives are a key factor through policies and programs for lowering carbon emissions, encouraging clean energy, and advancing hydrogen infrastructure development. These programs entail subsidies, grants, and regulatory policies that facilitate the use of hydrogen technologies. Moreover, the increased production of hydrogen, especially green hydrogen, is fueling the demand for efficient and safe storage facilities to store and transport hydrogen under high pressure. With the pickup of hydrogen uptake in the transportation, industry, and energy sectors, the need for secure, efficient, and long-lasting hydrogen tanks keeps growing, contributing to further market growth.
Type 1 dominated the tank type segment in terms of value in hydrogen tanks market.
Type 1 tanks dominate the hydrogen tank sector due to their ease and durability, as well as their low cost. Type 1 tanks are made entirely of metal (most often steel or aluminum), and they are built to withstand high pressure as all metal tanks are durable and highly trusted. Type 1 tanks are generally the most popular type used for stationary storage, even though they are used for other storage as well. They are preferred in stationary applications for processes, power generation, and hydrogen fueling stations, and their main strength is their ability to have hydrogen safely stored in these applications at the most efficient highest pressures. Within the last few years, they have been the favored solution to industries supporting hydrogen storage needs due to their high use of hydrogen during storage in applications because they offer a large quantity of hydrogen that can be stored over a longer term period for stationary applications, and lightweight advanced materials are not a significant consideration. Additionally, since standard Type 1 tanks are cheaper to manufacture than composite tanks, they offer the least manufacturing cost relative to performance in the industry when compared with composite tanks in applications supporting hydrogen storage and use. These combined factors make Type 1 tanks the most common tank option in the hydrogen tank industry, even when composite tanks are more valued in continuous use applications and stationary storage applications.
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Metal is expected to grow with the second-highest CAGR in terms of value in hydrogen tanks market during the forecasted period.
In the hydrogen tank market, metal segment is expected to have the second largest CAGR because of its better performance, cost, and varied usefulness of applications. Metal tanks are mostly steel or aluminum based, they have a longer durability and can withstand high pressure, which best suits industrial and transport applications. While composite materials are growing in popularity for lighter weight and high strength demands, metal tanks still reign supreme in cost sensitive, and bulk stationary storage environments. As hydrogen storage demand continues to rise across many industries, particularly in developing markets where cost weighs heavy, the metal tank segment can expect high growth as well. The reliability of metal tanks as well as existing and ongoing advances in technology will only continue to provide strong market potential.
The demand for hydrogen tanks in stationary storage dominated the hydrogen tanks market.
The stationary storage segment reflects the largest demand in the hydrogen tank market as it is required for bulk hydrogen storage for industrial use, power generation, and energy storage systems. As hydrogen adoption increases as a cleaner energy source, industries will need reliable long-term options that can store hydrogen at high-pressure for use in manufacturing, chemical production, and use in hydrogen fueling stations. Stationary storage schemes represent a stable, cost-effective method for storing large volumes of hydrogen at facilities that regularly need hydrogen for their operations. Stationary storage systems will also be necessary for balancing the intermittent nature of renewable energy systems, where hydrogen can be stored and produced through electrolysis for use in power generation later. The increasing need for energy storage and therefore hydrogen use in the industry has driven the current and high demand for stationary storage tanks in the hydrogen tank market.
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Europe region accounted for the second-largest hydrogen tank market in terms and both value and volume.
Due to its resolute devotion to sustainability, decarbonization, and developing green hydrogen infrastructure, Europe ranks second, globally, regarding the hydrogen tank market. The European Union has adopted an ambitious climate goal of carbon neutrality by 2050, with hydrogen being viewed as an essential component of this transition. The regional push for investment in green hydrogen production and developing hydrogen refueling infrastructure has significantly increased the demand for hydrogen storage solutions. Germany, France, and Italy are at the forefront of deploying hydrogen for transport, industry, and energy storage and have created a viable hydrogen tank market. Moreover, Europe has developed an established hydrogen ecosystem consisting of key industry players, research initiatives, and pro-hydrogen policies focused on growing the hydrogen tank market. Both renewable energy, and hydrogen-based vehicles (especially fuel cell electric vehicles, or FCEVs), has accelerated the demand for safe and reliable hydrogen storage solutions, placing Europe in a leading position in the international hydrogen tank market.
Key players
Prominent companies include 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), and Tenaris (Luxembourg) among others.
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