Hydrogen Tank Material 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 - Global Forecast to 2030

1. Hydrogen Tank Material Market worth $3,988 million by 2030 - Exclusive Report by MarketsandMarkets™

2. Scope of The Report
By Material Type
The research report categorizes the Hydrogen Tank Material Market to forecast the revenues and
analyse the trends in each of the following subsegments :
• Metal
• Carbon Fiber
• Glass Fiber
And More…
• Automotive & Transportation
• Industrial
• Chemicals
• Medical & Pharmaceuticals
By End-Use Industry
Browse in-depth TOC on “Hydrogen Tank Material Market”
163 - Tables
52 - Figures
212 - Pages

3. Key Segments & Report Highlights
Automotive & transportation industry is expected to grow at a highest CAGR,
in terms of both value and volume.
Type 1 segment dominated the hydrogen tank material market in 2022.
Industrial end-use segment dominated the hydrogen tank material ma
rket in 2022.
Asia Pacific is expected to be the largest market for hydrogen tank
material market during the forecast period.
Carbon fiber material segment is projected to dominate the global h
ydrogen tank material market during the forecast period.
1
2
3
4
5

4. Hydrogen Tank Material Market Growth Rate
Hydrogen Tank Material Market Dynamics -
Drivers: Rising environmental awareness to increase hydrogen tank materials demand
Restraints: High cost of composite material-based tanks and regulatory approvals
Opportunities: Emergence of lightweight composite material-based hydrogen tanks
Challenges: Impact of fluctuating oil prices
Carbon Fiber to account for the largest market share in terms of both value and volume by 2030
Tank 4 type to be the fastest growing tank type of hydrogen tank material market
Asia Pacific held the largest market share and is expected to witness the highest CAGR in the hydrogen tank material market
2030
Market Size of
$953 Million
Market Size of
$3988 Million
2022

5. Infographics Repots

6. Key Vendors
• 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)
Vendors in Hydrogen Tank Material Market Industry
View Report Here - https://www.marketsandmarkets.com/Market-Reports/hydro
gen-tank-material-market-61709332.html

7. Regions :
• North America
• APAC
• Europe
• Latin America
• MEA

8. Recent Developments in Hydrogen Tank Material Market Industry
1. In October 2022, Worthington Industries entered into a Partnership with Innovair Group to bring the b
est quality cylinders to Canada.
2. In October 2022, Hexagon Purus and Lhyfe companies has got into a collaboration project for product
ion of green and renewable hydrogen for transportation and industrial applications.
3. In July 2022, Rev1 Ventures Partners with Worthington Industries to accelerate advancements in sust
ainability technology, smart manufacturing. Worthington to provide individual investments, up to $10
million, to propel emerging technologies that align with Worthington’s vision and enable the company
to better serve current and future markets.
4. In July 2021, Luxfer Gas Cylinders partnered with Octopus Hydrogen to make heavy goods transport
ation and the aviation industries cleaner and greener by delivering green hydrogen to the sectors whi
ch cannot be decarbonized by batteries alone, mainly aviation and heavy-duty road vehicles.
5. In March 2021, The Worthington Industries subsidiary SCI was acquired by Luxfer Group in full. The g
oal of this transaction is to strengthen Luxfer Group's capacity for expanding hydrogen and CNG gas
potential.

9. Research Coverage
This report covers the global hydrogen tank material market and forecasts the mar
ket 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), En
d-use Industry (Automotive & Transportation, Industrial, Chemicals, Medical & Ph
armaceuticals, and others), and Region (Europe, North America, Asia Pacific, Lati
n America and Middle East & Africa). Porter’s Five Forces Analysis, along with the
drivers, restraints, opportunities, and challenges, have been discussed in the repo
rt. It also provides company profiles and competitive strategies adopted by the ma
jor players in the global hydrogen tank material market.

10. Reasons to buy the Hydrogen Tank Material Market Report
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers f
or 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 u
nderstand 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 (Hig
h 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 n
ew product & service launches in the hydrogen tank material market
• Market Development: Comprehensive information about lucrative markets – the report analyses the hydrogen tank mate
rial market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developm
ents, and investments in the hydrogen tank material market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading play
ers like include Worthington Industries, Inc. (US), Luxfer Group (England), Hexagon Composites ASA (Norway), Quantu
m 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.

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