Solid Hydrogen Transportation Equipment Trends and Forecast
The future of the global solid hydrogen transportation equipment market looks promising with opportunities in the chemical, oil refining, general industry, transportation, and metal working markets. The global solid hydrogen transportation equipment market is expected to grow with a CAGR of 13.6% from 2024 to 2030. The major drivers for this market are increasing need for sustainable and clean energy sources, growing adoption of fuel cell electric vehicles, and rising need for reduced greenhouse gas emissions.
• Lucintel forecasts that hydrogen storage alloy equipment is expected to witness the higher growth over the forecast period.
• Within this market, chemical is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States: The US has seen significant strides in solid hydrogen transportation equipment, with companies like Plug Power setting ambitious targets for hydrogen fuel cell deployment in heavy-duty trucks. Government initiatives include funding for hydrogen infrastructure expansion to support these endeavors.
Japan: Japanese firms like Toyota are driving innovation in solid hydrogen transportation, aiming to commercialize fuel cell trucks by 2030. The government has pledged support for hydrogen infrastructure development, with a focus on achieving carbon neutrality by 2050.
Germany: GermanyÄX%$%Xs commitment to decarbonization has led to substantial investments in solid hydrogen transportation technology. Companies like Bosch are actively developing hydrogen fuel systems for trucks, aligning with the governmentÄX%$%Xs targets for expanding the hydrogen economy and reducing emissions in the transportation sector.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Solid Hydrogen Transportation Equipment by Segment
The study includes a forecast for the global solid hydrogen transportation equipment by type, application, and region.
Solid Hydrogen Transportation Equipment Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Hydrogen Storage Alloy Equipment
• Carbonaceous Material Adsorption Equipment
• Others
Solid Hydrogen Transportation Equipment Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemical
• Oil Refining
• General Industry
• Transportation
• Metal Working
• Others
Solid Hydrogen Transportation Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Solid Hydrogen Transportation 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 solid hydrogen transportation equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the solid hydrogen transportation equipment companies profiled in this report include-
• Whole Win Materials
• Hyfun
• JMC
• GKN Powder Metallurgy
• JSW
Recent Development in the Solid Hydrogen Transportation Equipment Market
IHI Corporation: IHI Corporation, a Japanese heavy industry manufacturer, is developing a new design for a high-efficiency solid hydrogen transport vessel. This vessel is expected to have a larger capacity and longer range compared to existing designs, making it more suitable for long-distance transportation of solid hydrogen.
Kawasaki Heavy Industries: Kawasaki Heavy Industries, a Japanese multinational corporation, is testing a prototype solid hydrogen truck with a range of 400 kilometers. This is a significant development as it demonstrates the feasibility of using solid hydrogen for long-distance trucking applications.
Praxair: Praxair, a multinational industrial gas company, is partnering with Hyundai to develop hydrogen-powered trucks for the North American market. This collaboration is expected to accelerate the development and deployment of hydrogen fuel cell trucks in North America.
Air Liquide: Air Liquide, a French multinational industrial gas company, is investing €20 million in a new hydrogen liquefaction unit in France. This investment will help to support the development of a hydrogen economy by increasing the availability of low-carbon hydrogen.
Features of the Global Solid Hydrogen Transportation Equipment Market
Market Size Estimates: Solid hydrogen transportation equipment market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Solid hydrogen transportation equipment market size by type, application, and region in terms of value ($B).
Regional Analysis: Solid hydrogen transportation equipment 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 solid hydrogen transportation equipment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the solid hydrogen transportation equipment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for solid hydrogen transportation equipment market?
Answer: The global solid hydrogen transportation equipment market is expected to grow with a CAGR of 13.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the solid hydrogen transportation equipment market?
Answer: The major drivers for this market are increasing need for sustainable and clean energy sources, growing adoption of fuel cell electric vehicles, and rising need for reduced greenhouse gas emissions.
Q3. What are the major segments for solid hydrogen transportation equipment market?
Answer: The future of the solid hydrogen transportation equipment market looks promising with opportunities in the chemical, oil refining, general industry, transportation, and metal working markets.
Q4. Who are the key solid hydrogen transportation equipment market companies?
Answer: Some of the key solid hydrogen transportation equipment companies are as follows:
• Whole Win Materials
• Hyfun
• JMC
• GKN Powder Metallurgy
• JSW
Q5. Which solid hydrogen transportation equipment market segment will be the largest in future?
Answer: Lucintel forecasts that hydrogen storage alloy equipment is expected to witness the higher growth over the forecast period.
Q6. In solid hydrogen transportation equipment 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 solid hydrogen transportation equipment market by type (hydrogen storage alloy equipment, carbonaceous material adsorption equipment, and others), application (chemical, oil refining, general industry, transportation, metal working, 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 Solid Hydrogen Transportation Equipment Market, Solid Hydrogen Transportation Equipment Market Size, Solid Hydrogen Transportation Equipment Market Growth, Solid Hydrogen Transportation Equipment Market Analysis, Solid Hydrogen Transportation Equipment Market Report, Solid Hydrogen Transportation Equipment Market Share, Solid Hydrogen Transportation Equipment Market Trends, Solid Hydrogen Transportation Equipment Market Forecast, Solid Hydrogen Transportation Equipment Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.