Press release
Hydrogen Storage Tanks and Transportation Market to Hit $4,155 million by 2030 | Worthington Industries, Inc., Plastic Omnium, Hexagon Purus, Tenaris, NPROXX
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.
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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
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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.
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