Press release
Hydrogen Storage Tanks and Transportation Market to Hit $4,155 million by 2030 | Worthington Industries, Inc., Plastic Omnium, Hexagon Purus, Tenaris, NPROXX
According to a new market research report, the hydrogen storage tanks and transportation market is expected to grow from an estimated in USD 174 million in 2022 to USD 4,155 million by 2030, at a CAGR of 48.6% during the forecast period. Abundant availability of biomass and demand for off-grid power for rural electrification is expected to drive the market.
A few major players that have a wide regional presence dominate the hydrogen storage tanks and transportation market. The leading players in the hydrogen storage tanks and transportation market include Worthington Industries, Inc. (US), Plastic Omnium (France) , Hexagon Purus (Norway), Tenaris (US), NPROXX (Germany) and others.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=191929668
Increased efforts for installation of hydrogen fueling stations
According to IEA, there were a total of 540 hydrogen refueling stations (HRS) in the world as of 2020. Germany's H2Mobility program is supporting the adoption of fuel cell vehicles by developing fueling stations, which in turn, opens up opportunities for the deployment of hydrogen storage tanks. Moreover, Europe's Hydrogen for Innovative Vehicles (HyFIVE) project aims to expand its hydrogen fuel cell network, developing stations in Italy, the UK, Austria, and Denmark. Additionally, major automobile players, such as Honda (Japan), Toyota (Japan), and Nissan (Japan), are forming joint agreements with gas companies to develop a 100-station hydrogen highway within Japan. Indian Oil (India) is the largest hydrogen producer in India and aims to build a strong hydrogen distribution network. The company has invested USD 40 million in a demonstration project for hydrogen fuel cell vehicles.
Asia Pacific to be fastest-growing hydrogen storage tanks and transportation market during forecast period
In this report, the hydrogen storage tanks and transportation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe and Rest of the World (ROW). North America is a significant contributor to the hydrogen storage tanks and transportation market in the current scenario owing to the rapidly increasing cost-competitiveness of storage tank technology, which enable consumers to have access to clean fuel.
This research report categorizes the hydrogen storage tanks and transportation market by modular storage, application, tank type, pressure and region.
On the basis of by modular storage:
Hydrogen Fuel Storage Systems
Hydrogen Distribution Systems
On the basis of by application:
Vehicle
Railway
Marine
Stationary Storage
Trailer for H2 Transportation
On the basis of by tank type:
Type 1
Type 2
Type 3
Type 4
On the basis of by pressure:
Below 200 Bar
200-500 Bar
Above 500 Bar
On the basis of region:
Asia Pacific
North America
Europe
Rest of the World
Ask Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=191929668
Recent Developments
In October 2022, Hexagon Purus and Lhyfe collaborated for the production of green and renewable hydrogen for transportation and industrial applications.
In May 2022, NPROXX launched a hydrogen storage tank that can power trucks and lorries. It has two large diameter tanks stacked on each side to deliver a total of about 1200 liters of volume at 700 bar pressure.
In October 2021, Worthington Industries entered a partnership with Van Hool to provide an onboard fueling system and cylinders designed and manufactured by Worthington Industries for public transport.
In November 2020, Tenaris and Nel Hydrogen entered into a partnership to provide a hydrogen truck refueling network for California. They develop hydrogen technologies, supplying high-pressure solutions for hydrogen storage to be installed by Shell at Long Beach.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
A few major players that have a wide regional presence dominate the hydrogen storage tanks and transportation market. The leading players in the hydrogen storage tanks and transportation market include Worthington Industries, Inc. (US), Plastic Omnium (France) , Hexagon Purus (Norway), Tenaris (US), NPROXX (Germany) and others.
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=191929668
Increased efforts for installation of hydrogen fueling stations
According to IEA, there were a total of 540 hydrogen refueling stations (HRS) in the world as of 2020. Germany's H2Mobility program is supporting the adoption of fuel cell vehicles by developing fueling stations, which in turn, opens up opportunities for the deployment of hydrogen storage tanks. Moreover, Europe's Hydrogen for Innovative Vehicles (HyFIVE) project aims to expand its hydrogen fuel cell network, developing stations in Italy, the UK, Austria, and Denmark. Additionally, major automobile players, such as Honda (Japan), Toyota (Japan), and Nissan (Japan), are forming joint agreements with gas companies to develop a 100-station hydrogen highway within Japan. Indian Oil (India) is the largest hydrogen producer in India and aims to build a strong hydrogen distribution network. The company has invested USD 40 million in a demonstration project for hydrogen fuel cell vehicles.
Asia Pacific to be fastest-growing hydrogen storage tanks and transportation market during forecast period
In this report, the hydrogen storage tanks and transportation market has been analyzed for five regions, namely, Asia Pacific, North America, Europe and Rest of the World (ROW). North America is a significant contributor to the hydrogen storage tanks and transportation market in the current scenario owing to the rapidly increasing cost-competitiveness of storage tank technology, which enable consumers to have access to clean fuel.
This research report categorizes the hydrogen storage tanks and transportation market by modular storage, application, tank type, pressure and region.
On the basis of by modular storage:
Hydrogen Fuel Storage Systems
Hydrogen Distribution Systems
On the basis of by application:
Vehicle
Railway
Marine
Stationary Storage
Trailer for H2 Transportation
On the basis of by tank type:
Type 1
Type 2
Type 3
Type 4
On the basis of by pressure:
Below 200 Bar
200-500 Bar
Above 500 Bar
On the basis of region:
Asia Pacific
North America
Europe
Rest of the World
Ask Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=191929668
Recent Developments
In October 2022, Hexagon Purus and Lhyfe collaborated for the production of green and renewable hydrogen for transportation and industrial applications.
In May 2022, NPROXX launched a hydrogen storage tank that can power trucks and lorries. It has two large diameter tanks stacked on each side to deliver a total of about 1200 liters of volume at 700 bar pressure.
In October 2021, Worthington Industries entered a partnership with Van Hool to provide an onboard fueling system and cylinders designed and manufactured by Worthington Industries for public transport.
In November 2020, Tenaris and Nel Hydrogen entered into a partnership to provide a hydrogen truck refueling network for California. They develop hydrogen technologies, supplying high-pressure solutions for hydrogen storage to be installed by Shell at Long Beach.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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