Hydrogen Tank Global Research Report 2024: Market Size, Price, Competitive Landscape and Regional Analysis, Forecast to 2030

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "Hydrogen Tank- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.
 
A hydrogen tank is a container or a vessel used to store hydrogen in its gaseous or liquid form. Sometimes they are also referred to as hydrogen cylinders, cartridges or canisters. Depending on the pressure and temperature of storage the container must fulfil various tedious physical requirements, and therefore the art and science of designing and manufacturing hydrogen tanks has a long history of innovation. Hydrogen fuel tanks are used in all kinds of applications involving the use or generation of hydrogen such as fuel cell and electrolyzer systems, rockets and space flight. A hydrogen fuel tank is usually part of a hydrogen storage system.
 
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 Hydrogen storage tanks are containers designed to safely store and transport hydrogen gas under high pressure. These vessels are an important component of hydrogen storage and distribution systems and are used in a variety of applications including hydrogen fuel cell vehicles, industrial processes, energy storage and aerospace.

The primary function of a hydrogen storage tank is to maintain the pressure of hydrogen for efficient storage and transportation while ensuring safety. Hydrogen is typically stored at high pressure to maximize its energy density, which makes it more suitable for a variety of applications.

These vessels are built with materials and designs that can withstand high pressures, often using high-strength metals such as carbon steel, stainless steel, or aluminum alloys. These containers undergo rigorous testing and certification processes to ensure their integrity and safety under a wide range of operating conditions.

Hydrogen storage tanks must also be equipped with features such as pressure relief valves, rupture discs and other safety mechanisms to prevent overpressure conditions and mitigate risks associated with hydrogen handling, including embrittlement and hydrogen embrittlement.



According to the new market research report "Hydrogen Tank- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030", published by QYResearch, the global Hydrogen Tank market size is projected to reach USD 1.67 billion by 2030, at a CAGR of 14.4% during the forecast period.

 According to QYResearch Top Players Research Center, the global key manufacturers of Hydrogen Tank include Hexagon Purus, Faurecia, Iljin Hysolus, Toyota, Zhangjiagang Furui Hydrogen Power Equipment Co., Ltd., Faber Industrie, Quantum Fuel Systems, Luxfer Group, Worthington Industries, NPROXX, etc. In 2023, the global top 10 players had a share approximately 58.0% in terms of revenue.

In terms of product application, currently Automotive is the largest segment, hold a share of 53.5%.

In terms of product application, currently Automotive is the largest segment, hold a share of 53.5%.

Market Drivers:

Hydrogen storage tanks for hydrogen storage are very important in the automotive industry for fuel cell electric vehicles (FCEVs), which combine hydrogen with oxygen in an electrolysis reaction to produce energy. A by-product of this process is water; therefore, FCEVs are emission-free. FCEV technology is being used in industrial and commercial vehicles, and its emissions-free operation makes it an important target for governments seeking to mitigate climate change.

Compact, reliable, safe, and cost-effective hydrogen storage is a key challenge for the widespread commercialization of fuel cell electric vehicles (FCEVs) and other hydrogen fuel cell applications. As with any vehicle powered by non-gasoline fuels, one of the challenges is infrastructure. In the United States, the number of hydrogen refueling stations is relatively small relative to the land area (most are located in California), and in Europe, Japan, and South Korea, there are slightly more hydrogen refueling stations. Gas stations notwithstanding, anyone in the market for an FCEV has three options: Toyota Mirai, Hyundai Nexo and Honda Clarity. They have ranges of 400, 380 and 360 miles respectively and cost about $68,000 (including a $15,000 fuel credit), but affordable onboard hydrogen storage remains a key hurdle.



Restraint:

Market conditions are driving up the cost of many raw materials, with buyers currently being hit by rising prices for a variety of products.

Raw material prices continue to rise, and manufacturers face a host of challenges in the supply chain. As prices continue to rise, manufacturers are still dealing with two supply chain headwinds that have plagued the industry throughout the pandemic: slowing supplier deliveries and slowing labor availability.

As the military conflict between Russia and Ukraine intensifies, it threatens to disrupt global supply chains that are recovering from the effects of the COVID-19 pandemic. With Russia bearing the brunt of Western sanctions imposed on it over the Ukraine invasion, including cutting off many Russian banks from the interbank payments system SWIFT, the ongoing conflict could hit industries that rely on supplies of raw materials, particularly industrial commodities, from Russia.

All of this could lead to a new wave of shortages in a world that is gradually recovering from the impact of the pandemic. It could also lead to higher prices, affecting entire industries and households at a time when inflation is a major concern around the world.



Trends:

As costs continue to fall, companies in many countries are unable to adapt to this trend, resulting in declining profit margins and gradual withdrawal from the market. On the contrary, Chinese companies continue to stand out, accounting for more than half of the global share.

High-pressure hydrogen storage and transportation has experienced Type I, Type II, Type III, and Type IV development. Its hydrogen storage pressure continues to increase and its hydrogen storage capacity continues to improve. Currently, IV type hydrogen storage bottles are used, with a hydrogen storage pressure of 70MPa. Europe, the United States, Japan, South Korea and other places have matured and have certain applications. Although in our country but globally, supercharging has always been the development direction of this technology, which depends on the development of new materials and new technologies.

 
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
 
The Hydrogen Tank market is segmented as below:
By Company
    Hexagon Purus
    Faurecia
    Iljin Hysolus
    Toyota
    Zhangjiagang Furui Hydrogen Power Equipment Co., Ltd.
    Faber Industrie
    Quantum Fuel Systems
    Luxfer Group
    Worthington Industries
    NPROXX
    CTC
    Plastic Omnium
    Iwatani
    Mahytec (HENSOLDT)
 
Segment by Type
    Type I
    Type II
    Type III
    Type IV
 
Segment by Application
    Automotive
    Hydrogen Refueling Stations
    Hydrogen Transportation
    Others
 
Each chapter of the report provides detailed information for readers to further understand the Hydrogen Tank market:
Chapter 1: Introduces the report scope of the Hydrogen Tank report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Hydrogen Tank manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Hydrogen Tank market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5:  Sales, revenue of Hydrogen Tank in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6:  Sales, revenue of Hydrogen Tank in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
 
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Hydrogen Tank competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Hydrogen Tank comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Hydrogen Tank market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
 
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