Carbon Composite Hydrogen Tanks Market Overview
Carbon Composite Hydrogen Tanks Market is expected to grow at a CAGR of 9.8 % during the forecast period. Carbon Composite Hydrogen Tanks Market is expected to reach US$ 5.34 Bn. in 2030 from US$ 2.77 Bn. in 2023.
Hydrogen can be physically stored as a gas or as a liquid. In gaseous form, hydrogen is stored in high-pressure tanks with 350-700 bar working pressure. Type III and Type IV carbon composite hydrogen tanks are built of carbon fibre.
The Type III tank features a metal liner (aluminum or steel) with a full composite overwrap, whereas the Type IV tank is entirely built of carbon fibre with an inner liner made of polyamide or polyethylene plastic.
The transportation industry’s demand for alternative fuel vehicles, such as CNG, RNG, and hydrogen fuels, is predicted to rise due to strict environmental legislation, government incentives for alternative fuels, and advancements in fueling infrastructure. However, due to COVID-19, sales of natural and energy cell vehicles have decreased, resulting in a decrease in demand for CNG, RNG, and hydrogen tanks.
Carbon Composite Hydrogen Tanks Market Report Scope and Research Methodology
The Carbon Composite Hydrogen Tanks Market is majorly influenced by governmental policies and support emphasizing the importance of clean fuel in the public transportation sector. A reduction in the price of carbon fibres is expected to boost the demand for type 3 and type 4 tanks.
A key driver of the Carbon Composite Hydrogen Tanks Market is the increasing tax incentive for CNG vehicles and infrastructure. Tax breaks have been extended or enhanced in several regions, including APAC and North America.
To access more details regarding this research, visit the following webpage:https://www.stellarmr.com/report/req_sample/Carbon-Composite-Hydrogen-Tanks-Market/553
Carbon Composite Hydrogen Tanks Market Regional Insights
Europe is expected to witness the highest growth during the projected period. Toyota Mirai (Japan), Hyundai Nexo (South Korea), and Honda Clarity (Japan) are the region’s three primary FC passenger vehicles. Continuous investments and the development of many regulations aimed at promoting sustainable energy are underway throughout Europe, helping to cushion the region’s strong growth in the coming years.
Asia-Pacific, including countries like China and India, the world’s largest truck manufacturers, has also heavily invested in developing fuel cell MHCVs. Hydrogen-powered cars are more prevalent in countries such as South Korea and Japan, where their respective governments have offered subsidies for these vehicles and have also provided finance for building the necessary infrastructure.
Carbon Composite Hydrogen Tanks Market Segmentation
Based on Gas Type, Carbon Composite Hydrogen Tanks Market is segmented into CNG, RNG, and Hydrogen. In terms of value and volume of the CNG gas segment dominated the Carbon Composite Hydrogen Tanks market. This is due to increased awareness of CNG gas in comparison to other gases, as well as the fact that using CNG in fuel tanks and transportation tanks is less harmful than using hydrogen gas. Globally, more importance is given to the environment, and climate activists worldwide are now promoting the use of environment-friendly fuels.
Carbon Composite Hydrogen Tanks Market Key Players
Iljin Composites (Wanju-gun, South Korea)
Toyota Motor Corporation (Aichi, Japan)
Hexagon Composites (Alesund, Norway)
Luxfer Holdings (United Kingdom)
Worthington Industries (Ohio, United States)
Quantum Fuel Systems (California, United States)
NPROXX (Limburg, Netherlands)
Faber Industries (Fabriano, Italy)
Steelhead Composites (Colorado, United States)
Faurecia (Nanterre, France)
To Learn More About This Study, Please Click Here:https://www.stellarmr.com/report/Carbon-Composite-Hydrogen-Tanks-Market/553
Key questions answered in the Carbon Composite Hydrogen Tanks Market are:
- What is Carbon Composite Hydrogen Tanks?
- What was the Carbon Composite Hydrogen Tanks market size in 2023?
- What is the growth rate of the Carbon Composite Hydrogen Tanks Market?
- Which are the factors expected to drive the Carbon Composite Hydrogen Tanks market growth?
- What are the different segments of the Carbon Composite Hydrogen Tanks Market?
- What growth strategies are the players considering to increase their presence in Carbon Composite Hydrogen Tanks?
- What are the upcoming industry applications and trends for the Carbon Composite Hydrogen Tanks Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Carbon Composite Hydrogen Tanks Market?
- What segments are covered in the Carbon Composite Hydrogen Tanks Market?
- Who are the leading companies and what are their portfolios in Carbon Composite Hydrogen Tanks Market?
- What segments are covered in the Carbon Composite Hydrogen Tanks Market?
- Who are the key players in the Carbon Composite Hydrogen Tanks market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
About Stellar Market Research:
Stellar Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
Contact Stellar Market Research:
S.no.8, h.no. 4-8 Pl.7/4, Kothrud,
Pinnac Memories Fl. No. 3, Kothrud, Pune,
Pune, Maharashtra, 411029
Our Trending Report:
Liver Cancer Diagnostics Market https://www.stellarmr.com/report/Liver-Cancer-Diagnostics-Market/268
Acute Lymphocytic Leukemia Therapeutics Market https://www.stellarmr.com/report/Acute-Lymphocytic-Leukemia-Therapeutics-Market/281
Circulating Tumor Cells Market https://www.stellarmr.com/report/Circulating-Tumor-Cells-Market/287
Psychedelic Drugs Market https://www.stellarmr.com/report/Psychedelic-Drugs-Market/296
Oxytocin Market https://www.stellarmr.com/report/Oxytocin-Market/321
