Hydrogen Cylinder Trends and Forecast
The future of the global hydrogen cylinder market looks promising with opportunities in the storage station and automotive markets. The global hydrogen cylinder market is expected to grow with a CAGR of 6.7% from 2024 to 2030. The major drivers for this market are rapid growth in hydrogen fuel cell vehicles, increasing adoption of hydrogen as a clean energy carrier in various industries, and government initiatives and investments promoting hydrogen infrastructure development.
• Lucintel forecasts that type I is expected to witness the highest growth over the forecast period.
• Within this market, storage station is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Luxfer and Worthington invest in hydrogen cylinders for vehicles.
Germany: Linde and Thyssenkrupp develop hydrogen storage tech.
Japan: Toyota and Mitsubishi work on hydrogen-powered vehicles.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Hydrogen Cylinder by Segment
The study includes a forecast for the global hydrogen cylinder by type, application, and region.
Hydrogen Cylinder Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Type I
• Type II
• Type III
• Type IV
• Type V
Hydrogen Cylinder Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Storage Station
• Automotive
• Others
Hydrogen Cylinder Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Hydrogen Cylinder 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 cylinder companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hydrogen cylinder companies profiled in this report include-
• Linde Group
• Worthington Industries
• Luxfer Gas Cylinders
• MSA
• ECS
• JMC
• Air Liquide
• Henan Saite
• Tianhai
• Ningbo Meike
Recent Development in the Hydrogen Cylinder Market
Luxfer Holdings: Expanding production capacity for lightweight composite hydrogen cylinders.
Worthington Industries: Collaboration with Clean Energy Fuels Corp to develop lightweight hydrogen fuel cylinders for commercial vehicles.
Linde Group: Investing in large-scale liquid hydrogen production facilities to support clean energy transition.
Thyssenkrupp AG: Developing high-pressure hydrogen storage systems for industrial applications.
Toyota Motor Corporation: Introducing hydrogen-powered trucks by 2025, driving demand for hydrogen cylinders.
Mitsubishi Heavy Industries: Working on improving efficiency of hydrogen storage systems to support JapanÄX%$%Xs hydrogen economy goals.
Features of the Global Hydrogen Cylinder Market
Market Size Estimates: Hydrogen cylinder market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Hydrogen cylinder market size by type, application, and region in terms of value ($B).
Regional Analysis: Hydrogen cylinder market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the hydrogen cylinder market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the hydrogen cylinder market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for hydrogen cylinder market?
Answer: The global hydrogen cylinder market is expected to grow with a CAGR of 6.7% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the hydrogen cylinder market?
Answer: The major drivers for this market are rapid growth in hydrogen fuel cell vehicles, increasing adoption of hydrogen as a clean energy carrier in various industries, and government initiatives and investments promoting hydrogen infrastructure development.
Q3. What are the major segments for hydrogen cylinder market?
Answer: The future of the global hydrogen cylinder market looks promising with opportunities in the storage station and automotive markets.
Q4. Who are the key hydrogen cylinder market companies?
Answer: Some of the key hydrogen cylinder companies are as follows:
• Linde Group
• Worthington Industries
• Luxfer Gas Cylinders
• MSA
• ECS
• JMC
• Air Liquide
• Henan Saite
• Tianhai
• Ningbo Meike
Q5. Which hydrogen cylinder market segment will be the largest in future?
Answer: Lucintel forecasts that type I is expected to witness the highest growth over the forecast period.
Q6. In hydrogen cylinder 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 cylinder market by type (type I, type II, type III, type IV, and type V), application (storage station, automotive, 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 Cylinder Market, Hydrogen Cylinder Market Size, Hydrogen Cylinder Market Growth, Hydrogen Cylinder Market Analysis, Hydrogen Cylinder Market Report, Hydrogen Cylinder Market Share, Hydrogen Cylinder Market Trends, Hydrogen Cylinder Market Forecast, Hydrogen Cylinder Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.