Gaseous Hydrogen Storage Equipment Trends and Forecast
The future of the global gaseous hydrogen storage equipment market looks promising with opportunities in the chemical, oil refining, general industry, transportation, and metal working markets. The global gaseous hydrogen storage equipment market is expected to grow with a CAGR of 6.6% from 2024 to 2030. The major drivers for this market are growing adoption of hydrogen fuel cell vehicles and increasing investment in hydrogen infrastructure.
• Lucintel forecasts that hydrogen storage cylinder is expected to witness the highest growth over the forecast period.
• Within this market, chemical is expected to witness the highest growth.
• North America is expected to witness highest growth over the forecast period.
Japan, where hydrogen infrastructure is well-established, companies like Toyota and Honda have announced ambitious targets to expand their hydrogen fuel cell vehicle offerings, thereby driving demand for gaseous hydrogen storage equipment. Moreover, JapanÄX%$%Xs government has set aggressive goals to increase hydrogen adoption, including plans to establish hydrogen supply chains and infrastructure networks.
United States, companies such as Plug Power and Air Products have made substantial investments in hydrogen infrastructure and storage solutions. Government support, including funding initiatives and tax incentives, has further spurred market growth.
Europe, countries like Germany and France have unveiled hydrogen strategies aimed at decarbonizing industries and transportation sectors. Companies like Linde and Siemens have announced partnerships and initiatives to develop gaseous hydrogen storage solutions, aligning with the regionÄX%$%Xs ambitious carbon reduction targets.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Gaseous Hydrogen Storage Equipment by Segment
The study includes a forecast for the global gaseous hydrogen storage equipment by type, application, and region.
Gaseous Hydrogen Storage Equipment Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Hydrogen Storage Cylinder
• High Pressure Hydrogen Transportation Equipment
• Stationary High Pressure Hydrogen Storage System
Gaseous Hydrogen Storage Equipment Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemical
• Oil Refining
• General Industry
• Transportation
• Metal Working
Gaseous Hydrogen Storage Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Gaseous Hydrogen Storage Equipment 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 gaseous hydrogen storage equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the gaseous hydrogen storage equipment companies profiled in this report include-
• Air Products
• Kautex
• Tuvsud
• Tenaris
• TNO
Recent Development in the Gaseous Hydrogen Storage Equipment Market
Air Liquide: Air Liquide, a global leader in gases, technologies, and services for industry and health, announced a partnership with Plug Power to build a green hydrogen production facility in the U.S. The facility will produce over 30 tons of green hydrogen per day, supporting the growing demand for clean energy solutions in various industries.
Linde plc: Linde plc, a multinational industrial gases and engineering company, revealed plans to expand its gaseous hydrogen storage equipment portfolio with the introduction of innovative high-pressure hydrogen storage solutions. The new equipment aims to address the increasing demand for efficient hydrogen storage systems in applications such as transportation and industrial processes.
Hydrogenics Corporation: Hydrogenics Corporation, a leading provider of hydrogen generation and fuel cell power modules, announced the development of advanced gaseous hydrogen storage technologies, including novel composite materials and optimized tank designs. These advancements are expected to enhance the efficiency and safety of hydrogen storage systems, accelerating the adoption of hydrogen-based solutions worldwide.
Hexagon Composites ASA: Hexagon Composites ASA, a Norwegian company specializing in composite pressure vessel technology, unveiled its latest line of lightweight and durable gaseous hydrogen storage tanks. These tanks feature advanced carbon fiber materials and innovative design features, offering superior performance and reliability for hydrogen storage applications in various industries.
McPhy Energy: McPhy Energy, a leading developer and manufacturer of hydrogen production, storage, and distribution equipment, announced the launch of a new generation of high-capacity gaseous hydrogen storage systems. The new storage solutions leverage innovative materials and advanced engineering techniques to deliver increased storage capacity, efficiency, and safety for hydrogen storage applications.
Features of the Global Gaseous Hydrogen Storage Equipment Market
Market Size Estimates: Gaseous hydrogen storage equipment market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Gaseous hydrogen storage equipment market size by type, application, and region in terms of value ($B).
Regional Analysis: Gaseous hydrogen storage equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, application, and regions for the gaseous hydrogen storage equipment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the gaseous hydrogen storage equipment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for gaseous hydrogen storage equipment market?
Answer: The global gaseous hydrogen storage equipment market is expected to grow with a CAGR of 6.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the gaseous hydrogen storage equipment market?
Answer: The major drivers for this market are growing adoption of hydrogen fuel cell vehicles and increasing investment in hydrogen infrastructure.
Q3. What are the major segments for gaseous hydrogen storage equipment market?
Answer: The future of the gaseous hydrogen storage equipment market looks promising with opportunities in the chemical, oil refining, general industry, transportation, and metal working markets.
Q4. Who are the key gaseous hydrogen storage equipment market companies?
Answer: Some of the key gaseous hydrogen storage equipment companies are as follows:
• Air Products
• Kautex
• Tuvsud
• Tenaris
• TNO
Q5. Which gaseous hydrogen storage equipment market segment will be the largest in future?
Answer: Lucintel forecasts that hydrogen storage cylinder is expected to witness the highest growth over the forecast period.
Q6. In gaseous hydrogen storage equipment market, which region is expected to be the largest in next 5 years?
Answer: North America 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 gaseous hydrogen storage equipment market by type (hydrogen storage cylinder, high pressure hydrogen transportation equipment, and stationary high pressure hydrogen storage system), application (chemical, oil refining, general industry, transportation, and metal working), 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 Gaseous Hydrogen Storage Equipment Market, Gaseous Hydrogen Storage Equipment Market Size, Gaseous Hydrogen Storage Equipment Market Growth, Gaseous Hydrogen Storage Equipment Market Analysis, Gaseous Hydrogen Storage Equipment Market Report, Gaseous Hydrogen Storage Equipment Market Share, Gaseous Hydrogen Storage Equipment Market Trends, Gaseous Hydrogen Storage Equipment Market Forecast, Gaseous Hydrogen Storage Equipment Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.