Hydrogen Tank Material Trends and Forecast
The future of the global hydrogen tank material market looks promising with opportunities in the automotive & transportation, industrial, chemical, and medical & pharmaceutical markets. The global hydrogen tank material market is expected to grow with a CAGR of 22.9% from 2024 to 2030. The major drivers for this market are growing demand for sustainable energy, rising demand from end-use industries such as automotive and industrial, and governing bodiesÄX%$%X initiatives and strategies for encouraging the use of hydrogen.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Hydrogen Tank Material by Segment
The study includes a forecast for the global hydrogen tank material by material, tank type, end use, and region.
Hydrogen Tank Material Market by Material [Shipment Analysis by Value from 2018 to 2030]:
• Metal
• Carbon Fiber
• Glass Fiber
Hydrogen Tank Material Market by Tank Type [Shipment Analysis by Value from 2018 to 2030]:
• Tank 1
• Tank 2
• Tank 3
• Tank 4
Hydrogen Tank Material Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Automotive & Transportation
• Industrial
• Chemicals
• Medical & Pharmaceuticals
• Others
Hydrogen Tank Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Hydrogen Tank Material Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies hydrogen tank material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hydrogen tank material companies profiled in this report include-
• Worthington Industries
• Luxfer Group
• Hexagon Composites
• Quantum Fuel Systems
• Faber Industries
• Everest Kanto Cylinders
• Avanco Group
• Praxair Technologies
• Tenaris
• Pragma industries
Hydrogen Tank Material Market Insights
Lucintel forecasts that carbon fiber will remain the largest segment over the forecast period because it is used in higher performance and in high-value applications to reduce the weight of fuel systems and vehicles.
Within this market, industrial will remain the largest segment because they need strong and reliable storage systems, like tanks, to store hydrogen.
APAC is expected to witness highest growth over the forecast period.
Features of the Global Hydrogen Tank Material Market
Market Size Estimates: Hydrogen tank material market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Hydrogen tank material market size by material, tank type, end use, and region in terms of value ($B).
Regional Analysis: Hydrogen tank material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different material, tank type, end use, and regions for the hydrogen tank material market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the hydrogen tank material market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for hydrogen tank material market?
Answer: The global hydrogen tank material market is expected to grow with a CAGR of 22.9% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the hydrogen tank material market?
Answer: The major drivers for this market are growing demand for sustainable energy, rising demand from end-use industries such as automotive and industrial, and governing bodiesÄX%$%X initiatives and strategies for encouraging the use of hydrogen.
Q3. What are the major segments for hydrogen tank material market?
Answer: The future of the global hydrogen tank material market looks promising with opportunities in the automotive & transportation, industrial, chemical, and medical & pharmaceutical markets.
Q4. Who are the key hydrogen tank material market companies?
Answer: Some of the key hydrogen tank material companies are as follows:
• Worthington Industries
• Luxfer Group
• Hexagon Composites
• Quantum Fuel Systems
• Faber Industries
• Everest Kanto Cylinders
• Avanco Group
• Praxair Technologies
• Tenaris
• Pragma industries
Q5. Which hydrogen tank material market segment will be the largest in future?
Answer: Lucintel forecasts that carbon fiber will remain the largest segment over the forecast period because it is used in higher performance and in high-value applications to reduce the weight of fuel systems and vehicles.
Q6. In hydrogen tank material market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the hydrogen tank material market by material (metal, carbon fiber, and glass fiber), tank type (tank 1, tank 2, tank 3, and tank 4), end use (automotive & transportation, industrial, chemicals, medical & pharmaceuticals, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Hydrogen Tank Material Market, Hydrogen Tank Material Market Size, Hydrogen Tank Material Market Growth, Hydrogen Tank Material Market Analysis, Hydrogen Tank Material Market Report, Hydrogen Tank Material Market Share, Hydrogen Tank Material Market Trends, Hydrogen Tank Material Market Forecast, Hydrogen Tank Material Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.