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Hydrogen Tank Material Market by Material Type (Metal, Carbon Fiber, Glass Fiber), Tank Type (Tank 1, Tank 2, Tank 3, Tank 4), End-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Pharmaceuticals), Region - Forecast to 2030

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    Report

  • 213 Pages
  • May 2023
  • Region: Global
  • Markets and Markets
  • ID: 5807236
Description Jump to:

The global hydrogen tank material market is projected to grow from USD 953 million in 2023 to USD 3,988 million by 2030, at a CAGR of 22.7% during the forecast period. The hydrogen tank material market is mainly driven by increasing demand for clean energy, various government initiatives, and rising environmental awareness globally.

Metal segment accounted for the largest share, in terms of value & volume, of the overall hydrogen tank material market

Various metals (steel, aluminum, and metal alloys) are used in the manufacturing of hydrogen tanks. Steel is used in Type 1, Type 2, and Type 3 cylinders. The metal used in hydrogen tanks increases the weight of the hydrogen cylinders, but at the same time it provides adequate protection to the cylinders. For metal and metal-lined cylinders, the life cycle of these depends on the rate of fatigue crack growth. The steel used in hydrogen tanks should have properties that meet the requirements of the finished product. 

Type 3 tank type to grow with second-highest CAGR in hydrogen tank material market in terms of value during forecasted period

Composite materials are used to make Type 3 hydrogen tanks. Materials, such as woven carbon fiber or woven glass fiber are wrapped fully around the metal liners. These seamless metal liners provide about 75% to 90% of the strength to the vessel and act as an inflexible casing to hold the gas, thereby providing extra impact resistance to the product. Type 3 hydrogen tanks are lighter as compared to Type 1 and Type 2 hydrogen tanks, which help in reducing the weight of the fuel system and vehicles, thereby increasing the load-carrying capacity of the vehicles. However, Type 3 hydrogen tanks are more expensive compared to Type 2 and Type 1 hydrogen tanks.

Automotive & transportation industry is expected to grow at a highest CAGR, in terms of both value and volume

Hydrogen tanks have gained wide acceptance in the automotive & transportation industry, because of their high performance and number of performance and advantageous properties, such as low maintenance cost, increase in fuel efficiency, and environmental-friendliness. By 2030, automotive & transportation is expected to be the largest end-use industry of hydrogen tank material market across the world.

Europe is the second-leading hydrogen tank material market in terms of both value and volume

The EU Hydrogen Strategy defines a three-phase approach to developing renewable hydrogen, which can help to decarbonize several sectors across Europe within an integrated energy system. It intends to have 747 hydrogen refueling stations in Europe by 2025. Furthermore, according to the Hydrogen Roadmap Europe prepared for the Fuel Cells and Hydrogen Joint Undertaking, by 2030, FCEVs could account for 1 in 22 passenger vehicles (3.7 million total fleet); 1 in 12 light commercial vehicles (500,000 total fleet); 45,000 trucks and buses, 570 trains, and 3,700 hydrogen fuelling stations in Europe. This is expected to fuel the growth of hydrogen tank material in the region.

Breakdown of Profiles of Primary Interviews:

  • By Company Type: Tier 1 - 60%, Tier 2 - 20%, and Tier 3 - 20%
  • By Designation: C Level - 33%, Director Level - 33%, and Managers - 34%
  • By Region: North America - 20%, Europe - 25%, Asia Pacific (APAC) - 25%, Latin America - 10%, Middle East & Africa (MEA) - 20%

The report provides a comprehensive analysis of the company profiles listed below:

  • Worthington Industries, Inc. (US)
  • Chongqing Polycomp International Corporation (CPIC), (China), 
  • Luxfer Group (England)
  • Hexagon Composites ASA (Norway)
  • Quantum Fuel Systems LLC (US)
  • Faber Industrie SPA (Italy)
  • Everest Kanto Cylinders Ltd. (India)
  • Avanco Group (Germany)
  • Praxair Technologies, Inc. (US)

Research Coverage

This report covers the global hydrogen tank material market and forecasts the market size until 2030. It includes the following market segmentation - Material type (Metal, Glass Fiber, Carbon Fiber), Tank type (Type 1, Type 2. Type 3, Type 4), End-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Pharmaceuticals, and others), and Region (Europe, North America, Asia Pacific, Latin America and Middle East & Africa). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global hydrogen tank material market. 

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall hydrogen tank material market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

  • Analysis of key drivers (Increased use of hydrogen tank material in automotive & transportation industry), restraints (High cost of composite material-based tanks and regulatory approvals), opportunities (Emergence of lightweight composite material-based hydrogen tanks), and challenges (Impact of fluctuating oil prices) influencing the growth of the hydrogen tank material market
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the hydrogen tank material market
  • Market Development: Comprehensive information about lucrative markets - the report analyses the hydrogen tank material market across varied regions 
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the hydrogen tank material market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like include Worthington Industries, Inc. (US), Luxfer Group (England), Hexagon Composites ASA (Norway), Quantum Fuel Systems LLC (US), Faber Industrie SPA (Italy), Everest Kanto Cylinders Ltd. (India), Avanco Group (Germany), Praxair Technologies, Inc. (US), among others in the hydrogen tank material market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.3 Market Scope
Figure 1 Hydrogen Tank Material Market Segmentation
1.3.1 Regions Covered
1.3.2 Years Considered
1.4 Currency Considered
1.5 Unit Considered
1.6 Limitations
1.7 Stakeholders
1.8 Impact of Recession

2 Research Methodology
2.1 Research Approach
Figure 2 Hydrogen Tank Material Market: Research Design
2.2 Base Number Calculation
2.2.1 Approach 1: Supply-Side Analysis
2.2.2 Approach 2: Demand-Side Analysis
2.3 Impact of Recession
2.4 Forecast Number Calculation
2.4.1 Supply-Side
2.4.2 Demand-Side
2.4.3 Secondary Data
2.4.3.1 Key Data from Secondary Sources
2.4.4 Primary Data
2.4.4.1 Key Data from Primary Sources
2.4.4.2 Primary Interviews with Top Hydrogen Tank Material Manufacturers
2.4.4.3 Breakdown of Primary Interviews
2.4.4.4 Key Industry Insights
2.5 Market Size Estimation
2.5.1 Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.5.2 Top-Down Approach
Figure 4 Top-Down Approach
2.6 Data Triangulation
Figure 5 Hydrogen Tank Material Market: Data Triangulation
2.7 Factor Analysis
2.8 Assumptions
2.9 Market Growth Rate Assumptions/Growth Forecast
2.10 Limitations
2.11 Risks Associated with Hydrogen Tank Material Market

3 Executive Summary
Figure 6 Metal Segment Dominated Overall Hydrogen Tank Material Market in 2022
Figure 7 Type 1 Tank Type Segment Accounted for Largest Market Share in 2022
Figure 8 Industrial Segment Accounted for Largest Share of Hydrogen Tank Material Market
Figure 9 Asia-Pacific Led Hydrogen Tank Material Market in 2022

4 Premium Insights
4.1 Attractive Opportunities for Players in Hydrogen Tank Material Market
Figure 10 Significant Growth Expected in Hydrogen Tank Material Market Between 2023 and 2030
4.2 Hydrogen Tank Material Market, by Tank Type and Region
Figure 11 Type 1 Tank Type and Asia-Pacific Were Largest Markets in 2022
4.3 Hydrogen Tank Material Market, by Material Type
Figure 12 Metal Segment Dominated Market in 2022
4.4 Hydrogen Tank Material Market, by End-Use Industry
Figure 13 Industrial Segment Dominated Market in 2022
4.5 Hydrogen Tank Material Market Growth, by Key Country
Figure 14 China to be Fastest-Growing Hydrogen Tank Material Market, (2023-2030)

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 15 Drivers, Restraints, Opportunities, and Challenges in Hydrogen Tank Material Market
5.2.1 Drivers
5.2.1.1 Increasing Demand for Clean Energy
5.2.1.2 Government Investments and Initiatives
Table 1 Government Initiatives and Strategies to Promote Usage of Hydrogen
5.2.1.3 Increasing Demand from Automotive, Industrial, and Other End-Use Industries
5.2.1.4 Rising Environmental Awareness
Table 2 Global Sales of Ng Vehicles, by Region, 2021
5.2.2 Restraints
5.2.2.1 Limited Availability of Hydrogen Refueling Infrastructure in Developed Economies
5.2.2.2 High Cost of Composite Material-Based Tanks and Regulatory Approvals
5.2.3 Opportunities
5.2.3.1 Development of Lightweight Transportation Tanks
5.2.3.2 Emergence of Lightweight Composite Material-Based Hydrogen Tanks
5.2.4 Challenges
5.2.4.1 Development of Electric Cars
5.2.4.2 Fluctuating Oil Prices
5.3 Porter's Five Forces Analysis
Figure 16 Hydrogen Tank Material Market: Porter's Five Forces Analysis
5.3.1 Bargaining Power of Buyers
5.3.2 Bargaining Power of Suppliers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Intensity of Competitive Rivalry
Table 3 Hydrogen Tank Material Market: Porter's Five Forces Analysis
5.4 Supply Chain Analysis
Table 4 Hydrogen Tank Material Market: Companies and Their Role in Ecosystem
5.5 Pricing Analysis
5.5.1 Average Selling Price, by End-Use Industries (Key Players)
Figure 17 Average Selling Price of Key Players for Top 3 End-Use Industries (Usd/Kg)
Table 5 Average Selling Price of Key Players, by End-Use Industry (Usd/Kg)
5.6 Average Selling Price, by Material Type
Figure 18 Average Selling Price for Different Material Types (Usd/Kg)
5.7 Average Selling Price, by Tank Type
Figure 19 Average Selling Price Based on Tank Types (Usd/Kg)
5.8 Average Selling Price Trend
Table 6 Average Selling Price Trend in Hydrogen Tank Material Market, by Region
5.9 Key Stakeholders & Buying Criteria
5.9.1 Key Stakeholders in Buying Process
Figure 20 Influence of Stakeholders on Buying Process for Top 3 End-Use Industries
Table 7 Influence of Stakeholders on Buying Process for Top 3 End-Use Industries
5.9.2 Buying Criteria
Figure 21 Key Buying Criteria for Top 3 End-Use Industries
Table 8 Key Buying Criteria for Top 3 End-Use Industries
5.10 Technology Analysis
5.11 Ecosystem: Hydrogen Tank Material Market
5.12 Value Chain Analysis
Figure 22 Value Chain Analysis: Hydrogen Tank Material Market
5.13 Case Study Analysis
5.14 Trends and Disruptions Impacting Customers’ Businesses
5.15 Key Markets for Import/Export
5.15.1 China
5.15.2 Italy
5.15.3 US
5.15.4 Ukraine
5.16 Tariff and Regulations
5.16.1 US
5.16.2 Japan
5.16.3 Europe
5.16.4 China
5.16.5 Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 Rest of the World: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.17 Hydrogen Tank Material Market: Optimistic, Pessimistic, and Realistic Scenarios
Table 13 Hydrogen Tank Material Market: CAGR (By Value) in Optimistic, Pessimistic, and Realistic Scenarios
5.17.1 Optimistic Scenario
5.17.2 Pessimistic Scenario
5.17.3 Realistic Scenario
5.17.4 Standards in Hydrogen Tank Material Market
Table 14 Current Standard Codes for Automotive Composites
Table 15 Current Standard Codes for Hydrogen Cylinders
5.18 Patent Analysis
5.18.1 Introduction
5.18.2 Methodology
5.18.3 Document Type
Table 16 Hydrogen Tank Material Market: Global Patents
Figure 23 Global Patent Analysis, by Document Type
Figure 24 Global Patent Publication Trend: 2012-2022
5.18.4 Insights
5.18.5 Legal Status of Patents
Figure 25 Hydrogen Tank Material Market: Legal Status of Patents
5.18.6 Jurisdiction Analysis
Figure 26 Global Jurisdiction Analysis
5.18.7 Top Applicants' Analyses
Figure 27 China Petroleum & Chem Corp. Registered Highest Number of Patents
5.18.8 Patents by China Petroleum & Chem Corp.
5.18.9 Patents by Sinopec Engineering Group Co.
5.18.10 Top 10 Patent Owners (Us) in Last 10 Years
5.19 Key Conferences & Events
Table 17 Detailed List of Conferences & Events Related to Hydrogen Tank Material Market, 2023-2024

6 Hydrogen Tank Material Market, by Tank Type
6.1 Introduction
Figure 28 Type 1 Tank Type Dominated Hydrogen Tank Material Market
Table 18 Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 19 Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
6.2 Type 1
6.2.1 Used for Storage and Transportation of Hydrogen
Figure 29 Asia-Pacific to Register Highest Growth in Type 1 Hydrogen Tanks
6.2.2 Type 1: Hydrogen Tank Material Market, by Region
Table 20 Type 1: Hydrogen Tank Material Market, by Region, 2021-2030 (Unit)
Table 21 Type 1: Hydrogen Tank Material Market, by Region, 2021-2030 (USD Thousand)
6.3 Type 2
6.3.1 Lightweight Property Driving Demand from Applications
Figure 30 Asia-Pacific to Dominate Type 2 Hydrogen Tank Material Market
6.3.2 Type 2: Hydrogen Tank Material Market, by Region
Table 22 Type 2: Hydrogen Tank Material Market, by Region, 2021-2030 (Unit)
Table 23 Type 2: Hydrogen Tank Material Market, by Region, 2021-2030 (USD Thousand)
6.4 Type 3
6.4.1 High Strength and Extra Impact Resistance
6.4.2 Type 3: Hydrogen Tank Material Market, by Region
Table 24 Type 3: Hydrogen Tank Material Market, by Region, 2021-2030 (Unit)
Table 25 Type 3: Hydrogen Tank Material Market, by Region, 2021-2030 (USD Thousand)
6.5 Type 4
6.5.1 Light But Also Costly
6.5.2 Type 4: Hydrogen Tank Material Market, by Region
Table 26 Type 4: Hydrogen Tank Material Market, by Region, 2021-2030 (Unit)
Table 27 Type 4: Hydrogen Tank Material Market, by Region, 2021-2030 (USD Thousand)

7 Hydrogen Tank Material Market, by Material Type
7.1 Introduction
Figure 31 Carbon Fiber Material Type to Dominate Hydrogen Tank Material Market
Table 28 Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 29 Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
7.2 Metal
7.2.1 Cheapest and Most Widely Used Raw Material
Figure 32 Asia-Pacific to Register Fastest Growth in Metal-Based Hydrogen Tanks
7.2.2 Metal Hydrogen Tanks Market, by Region
Table 30 Metal Hydrogen Tanks Market, by Region, 2021-2030 (Unit)
Table 31 Metal Hydrogen Tanks Market, by Region, 2021-2030 (USD Thousand)
7.3 Carbon Fiber
7.3.1 Applications in High-End Applications
Figure 33 Asia-Pacific to Dominate Carbon Fiber-Based Hydrogen Tanks Market
7.3.2 Carbon Fiber Hydrogen Tanks Market, by Region
Table 32 Carbon Fiber Hydrogen Tanks Market, by Region, 2021-2030 (Units)
Table 33 Carbon Fiber Hydrogen Tanks Market, by Region, 2021-2030 (USD Thousand)
7.4 Glass Fiber
7.4.1 15%-20% Lighter Than Traditional Steel
Figure 34 Asia-Pacific to Dominate Glass Fiber Hydrogen Tanks Market
7.4.2 Glass Fiber Hydrogen Tanks Market, by Region
Table 34 Glass Fiber Hydrogen Tanks Market, by Region, 2021-2030 (Unit)
Table 35 Glass Fiber Hydrogen Tanks Market, by Region, 2021-2030 (USD Thousand)

8 Hydrogen Tank Material Market, by End-Use Industry
8.1 Introduction
Figure 35 Automotive & Transportation Industry to Dominate Hydrogen Tank Material Market During Forecast Period
Table 36 Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 37 Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
8.2 Automotive & Transportation
8.2.1 Fastest-Growing End-Use Industry of Hydrogen Tanks
Figure 36 Asia-Pacific to Register Highest CAGR in Automotive & Transportation End-Use Industry
8.2.2 Hydrogen Tank Material Market in Automotive & Transportation End-Use Industry, by Region
Table 38 Hydrogen Tank Material Market in Automotive & Transportation End-Use Industry, by Region, 2021-2030 (Unit)
Table 39 Hydrogen Tank Material Market in Automotive & Transportation End-Use Industry, by Region, 2021-2030 (USD Thousand)
8.3 Industrial
8.3.1 High Usage of Type 1 and Type 2 Hydrogen Tanks
Figure 37 Asia-Pacific to Dominate Hydrogen Tank Material Market in Industrial Sector
8.3.2 Hydrogen Tank Material Market in Industrial End-Use Industry, by Region
Table 40 Hydrogen Tank Material Market in Industrial End-Use Industry, by Region, 2021-2030 (Unit)
Table 41 Hydrogen Tank Material Market in Industrial End-Use Industry, by Region, 2021-2030 (USD Thousand)
8.4 Chemicals
8.4.1 Asia-Pacific to be Largest Market
8.4.2 Hydrogen Tank Material Market in Chemicals End-Use Industry, by Region
Table 42 Hydrogen Tank Material Market in Chemicals End-Use Industry, by Region, 2021-2030 (Unit)
Table 43 Hydrogen Tank Material Market in Chemicals End-Use Industry, by Region, 2021-2030 (USD Thousand)
8.5 Medical & Pharmaceuticals
8.5.1 Growing Applications of Hydrogen Tanks due to Technological Advancements
8.5.2 Hydrogen Tank Material Market in Medical & Pharmaceuticals End-Use Industry, by Region
Table 44 Hydrogen Tank Material Market in Medical & Pharmaceuticals End-Use Industry, by Region, 2021-2030 (Unit)
Table 45 Hydrogen Tank Material Market in Medical & Pharmaceuticals End-Use Industry, by Region, 2021-2030 (USD Thousand)
8.6 Others
8.6.1 Hydrogen Tank Material Market in Other End-Use Industries, by Region
Table 46 Hydrogen Tank Material Market in Other End-Use Industries, by Region, 2021-2030 (Unit)
Table 47 Hydrogen Tank Material Market in Other End-Use Industries, by Region, 2021-2030 (USD Thousand)

9 Hydrogen Tank Material Market, by Region
9.1 Introduction
Table 48 Hydrogen Tank Material Market, by Region, 2021-2030 (Unit)
Table 49 Hydrogen Tank Material Market, by Region, 2021-2030 (USD Thousand)
9.2 North America
9.2.1 Impact of Recession
Figure 38 North America: Hydrogen Tank Material Market Snapshot
9.2.2 North America: Hydrogen Tank Material Market, by Material Type
Table 50 North America: Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 51 North America: Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
9.2.3 North America: Hydrogen Tank Material Market, by Tank Type
Table 52 North America: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 53 North America: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
9.2.4 North America: Hydrogen Tank Material Market, by End-Use Industry
Table 54 North America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 55 North America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.2.5 North America: Hydrogen Tank Material Market, by Country
Table 56 North America: Hydrogen Tank Material Market, by Country, 2021-2030 (Unit)
Table 57 North America: Hydrogen Tank Material Market, by Country, 2021-2030 (USD Thousand)
9.2.5.1 US
9.2.5.1.1 Largest Market in North America
9.2.5.1.2 US: Hydrogen Tank Material Market, by End-Use Industry
Table 58 US: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 59 US: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.2.5.2 Canada
9.2.5.2.1 Improving Demand from Industrial and Automobile Industries to Boost Market
9.2.5.2.2 Canada: Hydrogen Tank Material Market, by End-Use Industry
Table 60 Canada: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 61 Canada: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3 Europe
9.3.1 Impact of Recession
Figure 39 Europe: Hydrogen Tank Material Market Snapshot
9.3.2 Europe: Hydrogen Tank Material Market, by Material Type
Table 62 Europe: Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 63 Europe: Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
9.3.3 Europe: Hydrogen Tank Material Market, by Tank Type
Table 64 Europe: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 65 Europe: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
9.3.4 Europe: Hydrogen Tank Material Market, by End-Use Industry
Table 66 Europe: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 67 Europe: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5 Europe: Hydrogen Tank Material Market, by Country
Table 68 Europe: Hydrogen Tank Material Market, by Country, 2021-2030 (Unit)
Table 69 Europe: Hydrogen Tank Material Market, by Country, 2021-2030 (USD Thousand)
9.3.5.1 Germany
9.3.5.1.1 Largest Market in Europe
9.3.5.1.2 Germany: Hydrogen Tank Material Market, by End-Use Industry
Table 70 Germany: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 71 Germany: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5.2 Italy
9.3.5.2.1 Efforts to Reduce Carbon Emissions from Automobile & Transportation Industries to Boost Market
9.3.5.2.2 Italy: Hydrogen Tank Material Market, by End-Use Industry
Table 72 Italy: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 73 Italy: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5.3 France
9.3.5.3.1 Fuel and Energy Efficiency Plan to Boost Market
9.3.5.3.2 France: Hydrogen Tank Material Market, by End-Use Industry
Table 74 France: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 75 France: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5.4 UK
9.3.5.4.1 Changes in Climate Change Regulations to Boost Market
9.3.5.4.2 UK: Hydrogen Tank Material Market, by End-Use Industry
Table 76 UK: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 77 UK: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5.5 Netherlands
9.3.5.5.1 Plans to Improve Hydrogen-Based Vehicles and Refueling Infrastructure to Boost Market
9.3.5.5.2 Netherlands: Hydrogen Tank Material Market, by End-Use Industry
Table 78 Netherlands: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 79 Netherlands: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.3.5.6 Rest of Europe
9.3.5.6.1 Rest of Europe: Hydrogen Tank Material Market, by End-Use Industry
Table 80 Rest of Europe: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 81 Rest of Europe: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.4 Asia-Pacific
9.4.1 Impact of Recession
Figure 40 Asia-Pacific: Hydrogen Tank Material Market Snapshot
9.4.2 Asia-Pacific: Hydrogen Tank Material Market, by Material Type
Table 82 Asia-Pacific: Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 83 Asia-Pacific: Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
9.4.3 Asia-Pacific: Hydrogen Tank Material Market, by Tank Type
Table 84 Asia-Pacific: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 85 Asia-Pacific: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
9.4.4 Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry
Table 86 Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 87 Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.4.5 Asia-Pacific: Hydrogen Tank Material Market, by Country
Table 88 Asia-Pacific: Hydrogen Tank Material Market, by Country, 2021-2030 (Unit)
Table 89 Asia-Pacific: Hydrogen Tank Material Market, by Country, 2021-2030 (USD Thousand)
9.4.5.1 South Korea
9.4.5.1.1 Development of Hydrogen and Fuel Cell-Based Vehicles to Boost Market
9.4.5.1.2 South Korea: Hydrogen Tank Material Market, by End-Use Industry
Table 90 South Korea: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 91 South Korea: Hydrogen Tank Material, by End-Use Industry, 2021-2030 (USD Thousand)
9.4.5.2 China
9.4.5.2.1 Carbon Neutrality Targets to Drive Hydrogen as Major Energy Source
9.4.5.2.2 China: Hydrogen Tank Material Market, by End-Use Industry
Table 92 China: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 93 China: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.4.5.3 India
9.4.5.3.1 Changes in Regulations in Favor of Hydrogen as Fuel to Boost Market
9.4.5.3.2 India: Hydrogen Tank Material Market, by End-Use Industry
Table 94 India: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 95 India: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.4.5.4 Japan
9.4.5.4.1 National Hydrogen Strategies to Achieve Emission Reduction Targets to Boost Market
9.4.5.4.2 Japan: Hydrogen Tank Material Market, by End-Use Industry
Table 96 Japan: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 97 Japan: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.4.5.5 Rest of Asia-Pacific
9.4.5.5.1 Rest of Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry
Table 98 Rest of Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 99 Rest of Asia-Pacific: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.5 Middle East & Africa
9.5.1 Impact of Recession
9.5.2 Middle East & Africa: Hydrogen Tank Material Market, by Material Type
Table 100 Middle East & Africa: Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 101 Middle East & Africa: Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
9.5.3 Middle East & Africa: Hydrogen Tank Material Market, by Tank Type
Table 102 Middle East & Africa: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 103 Middle East & Africa: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
9.5.4 Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry
Table 104 Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 105 Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.5.5 Middle East & Africa: Hydrogen Tank Material Market, by Country
Table 106 Middle East & Africa: Hydrogen Tank Material Market, by Country, 2021-2030 (Unit)
Table 107 Middle East & Africa: Hydrogen Tank Material Market, by Country, 2021-2030 (USD Thousand)
9.5.5.1 South Africa
9.5.5.1.1 Net-Zero Emission Target by 2050 to Influence Market
9.5.5.1.2 South Africa: Hydrogen Tank Material Market, by End-Use Industry
Table 108 South Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 109 South Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.5.5.2 UAE
9.5.5.2.1 Use of Hydrogen as Energy Source to Drive Market
9.5.5.2.2 UAE: Hydrogen Tank Material Market, by End-Use Industry
Table 110 UAE: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 111 UAE: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.5.5.3 Rest of Middle East & Africa
9.5.5.3.1 Rest of Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry
Table 112 Rest of Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 113 Rest of Middle East & Africa: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.6 Latin America
9.6.1 Impact of Recession
9.6.2 Latin America: Hydrogen Tank Material Market, by Material Type
Table 114 Latin America: Hydrogen Tank Material Market, by Material Type, 2021-2030 (Unit)
Table 115 Latin America: Hydrogen Tank Material Market, by Material Type, 2021-2030 (USD Thousand)
9.6.3 Latin America: Hydrogen Tank Material Market, by Tank Type
Table 116 Latin America: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (Unit)
Table 117 Latin America: Hydrogen Tank Material Market, by Tank Type, 2021-2030 (USD Thousand)
9.6.4 Latin America: Hydrogen Tank Material Market, by End-Use Industry
Table 118 Latin America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 119 Latin America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.6.5 Latin America: Hydrogen Tank Material Market, by Country
Table 120 Latin America: Hydrogen Tank Material Market, by Country, 2021-2030 (Unit)
Table 121 Latin America: Hydrogen Tank Material Market, by Country, 2021-2030 (USD Thousand)
9.6.5.1 Brazil
9.6.5.1.1 Need for Cleaner Transportation Fuels to Drive Market
9.6.5.1.2 Brazil: Hydrogen Tank Material Market, by End-Use Industry
Table 122 Brazil: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 123 Brazil: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.6.5.2 Mexico
9.6.5.2.1 Changing Energy Dependence to Greener Alternatives to Drive Market
9.6.5.2.2 Mexico: Hydrogen Tank Material Market, by End-Use Industry
Table 124 Mexico: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 125 Mexico: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)
9.6.5.3 Rest of Latin America
9.6.5.3.1 Rest of Latin America: Hydrogen Tank Material Market, by End-Use Industry
Table 126 Rest of Latin America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (Unit)
Table 127 Rest of Latin America: Hydrogen Tank Material Market, by End-Use Industry, 2021-2030 (USD Thousand)

10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
Figure 41 Market Share of Top Companies in Hydrogen Tank Material Market
10.3 Market Ranking
Figure 42 Ranking of Top Five Players in Hydrogen Tank Material Market
10.4 Market Evaluation Framework
Table 128 Hydrogen Tank Material Market: Deals, 2018-2022
Table 129 Hydrogen Tank Material Market: Others, 2018-2022
Table 130 Hydrogen Tank Material Market: New Product Developments, 2018-2022
10.5 Revenue Analysis of Top Market Players
10.6 Company Evaluation Matrix
Table 131 Company Product Footprint
Table 132 Company End-Use Industry Footprint
Table 133 Company Region Footprint
10.6.1 Stars
10.6.2 Pervasive Players
10.6.3 Participants
10.6.4 Emerging Leaders
Figure 43 Hydrogen Tank Material Market (Global): Competitive Leadership Mapping, 2022
10.6.5 Strength of Product Portfolio
Figure 44 Product Portfolio Analysis of Top Players in Hydrogen Tank Material Market
10.6.6 Business Strategy Excellence
Figure 45 Business Strategy Excellence of Top Players in Hydrogen Tank Material Market
10.7 Start-Ups/Small and Medium-Sized Enterprises (Smes) Evaluation Matrix
10.7.1 Progressive Companies
10.7.2 Responsive Companies
10.7.3 Dynamic Companies
10.7.4 Starting Blocks
Figure 46 Hydrogen Tank Material Market: Small and Medium-Sized Enterprises Mapping, 2022

11 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View)*
11.1 Key Companies
11.1.1 Worthington Industries, Inc.
Table 134 Worthington Industries, Inc.: Company Overview
Figure 47 Worthington Industries, Inc.: Company Snapshot
Table 135 Worthington Industries Inc.: New Product/Technology Development
Table 136 Worthington Industries Inc: Deals
11.1.2 Luxfer Group
Table 137 Luxfer Group: Company Overview
Figure 48 Luxfer Group: Company Snapshot
Table 138 Luxfer Group: New Product/Technology Developments
Table 139 Luxfer Group: Deals
11.1.3 Hexagon Composites Asa
Table 140 Hexagon Composites Asa: Company Overview
Figure 49 Hexagon Composites Asa: Company Snapshot
Table 141 Hexagon Composites Asa: Deals
Table 142 Hexagon Composites Asa: Others
11.1.4 Quantum Fuel Systems LLC
Table 143 Quantum Fuel Systems LLC: Company Overview
Table 144 Quantum Fuel Systems LLC: Deals
11.1.5 Faber Industrie S.P.A.
Table 145 Faber Industrie S.P.A.: Company Overview
Table 146 Faber Industrie S.P.A.: Other Developments
11.1.6 Everest Kanto Cylinder Ltd.
Table 147 Everest Kanto Cylinder Ltd.: Company Overview
Figure 50 Everest Kanto Cylinder Ltd.: Company Snapshot
11.1.7 Avanco Group
Table 148 Avanco Group: Company Overview
11.1.8 Praxair Technology Inc.
Table 149 Praxair Technology Inc.: Company Overview
11.1.9 Beijing Tianhai Industry Co. Ltd.
Table 150 Beijing Tianhai Industry Co. Ltd.: Company Overview
11.1.10 Composites Advanced Technologies, LLC (Catec Gases)
Table 151 Composites Advanced Technologies, LLC (Catec Gases): Company Overview
11.1.11 Nproxx
Table 152 Nproxx: Company Overview
Table 153 Nproxx: New Product/Technology Developments
Table 154 Nproxx: Deals
11.1.12 Tenaris
Table 155 Tenaris: Company Overview
Figure 51 Tenaris: Company Snapshot
Table 156 Tenaris: New Product/Technology Developments
Table 157 Tenaris: Deals
11.1.13 Pragma Industries
Table 158 Pragma Industries: Company Overview
Table 159 Pragma Industries: Deals
11.1.14 Plastic Omnium
Table 160 Plastic Omnium: Company Overview
Figure 52 Plastic Omnium: Company Snapshot
Table 161 Plastic Omnium: Deals
11.1.15 Umoe Advanced Composites
Table 162 Umoe Advanced Composites: Company Overview
Table 163 Umoe Advanced Composites: Deals
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View Might Not be Captured in Case of Unlisted Companies.
11.2 Other Players
11.2.1 Doosan Mobility Innovation
11.2.2 Ams Composite Cylinders
11.2.3 Bnh Gas Tanks Llp
11.2.4 Shijiazhuang Enric Gas Equipment Co., Ltd.
11.2.5 Calvera Hydrogen
11.2.6 Mahytec
11.2.7 Steelhead Composites Inc.
11.2.8 Marine Service Nord

12 Appendix
12.1 Discussion Guide
12.2 Knowledgestore: The Subscription Portal
12.3 Customization Options

Companies Mentioned

  • AMS Composite Cylinders
  • Avanco Group
  • Beijing Tianhai Industry Co. Ltd.
  • BNH Gas Tanks Llp
  • Calvera Hydrogen
  • Composites Advanced Technologies, LLC (Catec Gases)
  • Doosan Mobility Innovation
  • Everest Kanto Cylinder Ltd.
  • Faber Industrie S.P.A.
  • Hexagon Composites Asa
  • Luxfer Group
  • Mahytec
  • Marine Service Nord
  • Nproxx
  • Plastic Omnium
  • Pragma Industries
  • Praxair Technology Inc.
  • Quantum Fuel Systems LLC
  • Shijiazhuang Enric Gas Equipment Co., Ltd.
  • Steelhead Composites Inc.
  • Tenaris
  • UMOE Advanced Composites
  • Worthington Industries, Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages213
PublishedMay 2023
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 953 Million
Forecasted Market Value ( USD ) by 2030 $ 3988 Million
Compound Annual Growth Rate19.6%
Regions CoveredGlobal
No. of Companies Mentioned23

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