Construction & Industrial

According to a market report by Lucintel, the future of the hydrogen pressure vessel (HPV) market looks promising with opportunities in the mobility and gas storage & distribution applications. The global hydrogen pressure vessel market is expected to reach an estimated $2,612.9 million by 2028 with a CAGR of 26.5% from 2023 to 2028. The major drivers for this market are growing number of hydrogen based vehicles, the growing use of HPV for powering fuel cells, and the emergence of fuel cell based EVs and passenger vehicles.



In this market, towpreg and wet winding are the two major process type segments. Lucintel forecasts that towpreg is expected to witness faster growth over the forecast period as it ensures enhanced component quality, fast winding speed, and shorter curing cycle.



Within this market, mobility is expected to witness higher growth over the forecast period due to the increasing number of electric vehicles (EVs) powered by fuel cells.



APAC will remain the largest region due to rapid industrialization and growing demand for HPV in various end use industries, such as automotive, chemical, and energy sectors, in the region.

Hexagon Purus, Japan Steel Works, Steelhead Composites, FIBA Technologies, and NPROXX are the major suppliers in the global hydrogen pressure vessel market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global hydrogen pressure vessel market by vessel type, process type, application, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Hydrogen Pressure Vessel Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global hydrogen pressure vessel market by vessel type, process type, application, and region, as follows:

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global hydrogen pressure vessel market by vessel type (type-III vessel and type-IV vessel), process type (wet winding and towpreg), application (mobility and gas storage & distribution), 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 five years and what has its impact been on the industry?