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Hydrogen Storage Tanks & Transportation Market Size
- Report ID: GMI5699
- Published Date: May 2023
- Report Format: PDF
Hydrogen Storage Tanks & Transportation Market Size
Hydrogen Storage Tanks & Transportation Market size surpassed USD 906.9 million in 2023 and is anticipated to expand at 31.1% CAGR from 2024 to 2032 driven by growing investments in hydrogen fueling infrastructure.
Many governments across the globe are investing heavily in the establishment of hydrogen refueling stations In March 2023, the government also announced another USD 750 million for the advancement of clean hydrogen technologies. Moreover, rapid advancements in hydrogen-fueled vehicles will further create a broad scope for industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Hydrogen Storage Tanks & Transportation Market Size in 2023: | USD 906.9 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 31.1% |
| 2032 Value Projection: | USD 11.1 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 200 |
| Tables, Charts & Figures: | 394 |
| Segments covered: | Material, Tank Type, Pressure, Storage Form, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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A lack of policies and standards in developing economies for the implementation of hydrogen fueling infrastructure may limit hydrogen storage tanks & transportation market expansion. The storage of hydrogen as a gas requires high-pressure tanks, which adds to the overall cost of hydrogen refueling infrastructure. However, many economies across the globe are making investments in increasing the cost-effectiveness of hydrogen storage, which may favor industry growth.
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Hydrogen Storage Tanks & Transportation Market Scope
