Carbon Composite Pressure Vessels Market to Reach USD 5.9 Billion by 2031, Says Stratview Research

The Carbon Composite Pressure Vessels Market refers to high-strength, lightweight carbon fiber-reinforced polymer pressure vessels designed for high-pressure storage and transport applications in sectors such as transportation and gas carrier & storage. The market is forecast to reach USD 5.9 billion by 2030, growing at a CAGR of 18.6% during 2025-2031, driven mainly by the shift toward alternative fuel and clean energy technologies, where lightweight composite vessels support fuel efficiency and emissions targets for hydrogen fuel cell and CNG/LNG applications.

Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. The report evaluates detailed segmentation by pressure vessel type, application type, gas type, process type, and geographic regions, offering strategic insights for stakeholders seeking to understand market dynamics and opportunities.

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Market Statistics

• Market size (2024): USD 1.7 billion
• Forecast value (2030): USD 5.9 billion
• CAGR: 18.6% during 2025-2031
• Forecast period: 2025-2031
• Base year: 2024
• Total number of segments: 5
• Tables & figures: 100+
• Country-Level Market Assessment: 20

Market Segmentation

Market Segmentation by Pressure Vessel Type, Application Type, Gas Type, Process Type, and Region.
• By Pressure Vessel Type: Type III Pressure Vessels; Type IV Pressure Vessels.
• By Application Type: Transportation; Gas Carrier & Storage; Life Support; Recreation; Other Applications.
• By Gas Type: CNG/LNG; RNG; Hydrogen; Other Gases.
• By Process Type: Towpreg; Wet Winding.
• By Region: North America; Europe; Asia-Pacific; Rest of the World.

Segment Analysis

In the pressure vessel type category, Type IV pressure vessels are the dominant segment in terms of market value, as they offer superior weight savings (approximately 30% of steel) and enhanced performance for automotive and industrial applications, which supports broader adoption across transportation and clean energy sectors. Type III vessels currently lead in volume due to existing production-established base, but Type IV's technological advantages and fuel efficiency benefits are expected to capture increasing share, underscoring the need for manufacturers to scale Type IV production capabilities to capture future value.

For application type, transportation constitutes the dominant segment because hydrogen storage tanks for fuel cell vehicles (FCVs) and CNG tanks are increasingly used as OEMs and governments push for low-emission transportation solutions. Gas carrier & storage holds substantial share driven by infrastructure development for hydrogen and compressed gas distribution. These dynamics suggest that suppliers focusing on transportation and storage solutions position themselves to benefit from long-term energy transition investments.

Within gas type, CNG/LNG collectively hold a dominant position given their established use in mass-transit and commercial vehicles around the world. Hydrogen is the fastest-growing gas type as hydrogen infrastructure investments expand and more countries adopt hydrogen roadmaps to decarbonize transport and industrial sectors. This transition highlights the need for strategic positioning in hydrogen vessel manufacturing to capture future growth.

Under process type, wet winding is the dominant manufacturing process due to lower costs and high production efficiency compared with dry winding, making it the preferred choice for many high-volume providers. Towpreg (dry winding) is gaining attraction for high-quality and bulk hydrogen tank production, indicating that process innovation investments can yield advantages in emerging hydrogen applications.

Regional Insights

Asia-Pacific dominated the carbon composite pressure vessels market in 2024 driven by strong deployment of fuel cell electric vehicles and leadership in FCEV production in countries like China, Japan, and South Korea, where government support and industrial activity reinforce growth. Key manufacturers and regional energy strategies position Asia-Pacific as a central hub for vessel demand.
Europe is a fast-growing region due to increased focus on hydrogen adoption in light-duty and commercial fleets and favorable regulatory frameworks promoting clean energy initiatives, which collectively bolster vessel demand.

Market Drivers

• Rapid shift toward alternative fuel vehicles supporting demand for lightweight, high-pressure storage vessels.
• Rising fuel cell electric vehicle (FCEV) production driven by emission regulations and expanding OEM capacity.
• Increasing investment in clean energy infrastructure including hydrogen refueling networks.
• Expansion of hydrogen economy initiatives across global markets propelling long-term adoption.
• Broader adoption of carbon composite vessels across industries due to superior strength-to-weight ratio and corrosion resistance.

Top Companies in the Market

• Hexagon Composites ASA
• Luxfer Holdings PLC
• Worthington Industries, Inc.
• Iljin Composites Co., Ltd.
• FORVIA
• Quantum Fuel Systems LLC
• Steelhead Composites, INC.
• NPROXX B.V.
• Faber Industrie SpA

FAQs - Carbon Composite Pressure Vessels Market

1. What will be the global carbon composite pressure vessels market size by 2031?
The global carbon composite pressure vessels market is expected to reach approximately USD 5.9 billion by 2031, reflecting increased investment in alternative fuel and clean energy technologies that require lightweight, high-strength pressure storage solutions.

2. Which application segments are attracting the most investment in this market?
Transportation and gas carrier & storage applications lead investment, as they are directly linked to growth in fuel cell electric vehicles and bulk gas distribution infrastructure, which require advanced carbon composite vessels.

3. Why is the Asia-Pacific region significant for carbon composite pressure vessels?
Asia-Pacific dominates due to robust FCEV production, extensive adoption of alternative fuel initiatives, and supportive government policies in major markets like China, South Korea, and Japan.

4. What role does hydrogen play in shaping the carbon composite pressure vessels market?
Hydrogen gas type is rapidly emerging because global energy transition strategies include hydrogen as a key component of future low-emission fuel mixes, increasing demand for high-pressure composite storage solutions.

5. How do process technologies impact market competitiveness?
Wet winding leads currently due to lower cost and production efficiency, while towpreg (dry winding) is gaining ground for high-quality hydrogen tanks, indicating that process innovation can provide competitive advantages.

Related Links:

Aircraft Fastener Coatings Market: https://ivebo.co.uk/read-blog/189617
Aircraft Forging Market: https://sway.cloud.microsoft/U1igt0nXtAD3Zppn
Aircraft Galley Equipment Market: https://vintfint.com/blogs/86317/Aircraft-Galley-Equipment-Market-Is-Likely-to-Experience-a-Strong
Aircraft Investment Casting Market: https://ingnews.exblog.jp/35229238/

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