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Hydrogen Storage Tanks Market Trends

Report ID: GMI5664
Published Date: May 2023
Report Format: PDF

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Hydrogen Storage Tanks Market Trends

The rapid industrial growth worldwide along with the higher government spending on infrastructure development are likely to drive the industry growth. The influx of various supportive government policies in emerging economies has offered a significant boost for the expansion of energy-intensive industries (EIIs). The strong presence of environmental regulations, policy interventions, trade facilitation are also enabling respective governments to match the increasing domestic demand to enter the international markets, thereby spurring the business statistics.

Authors: Ankit Gupta, Abhishek chopra

Frequently Asked Questions (FAQ) :

The market size of hydrogen storage tank surpassed USD 223.2 million in 2023 and is projected to register around 39.5% CAGR through 2032, due to the surging number of investments in hydrogen fueling infrastructure worldwide.

Carbon fiber hydrogen storage tanks industry size reached USD 85 million in 2022 and will expand through 2032 owing to the surging need for withstanding high pressures and strength.

The Asia Pacific hydrogen storage tanks industry will exceed USD 2.3 billion by 2032 on account of the growing investments in storage technologies in the region.

Plastic Omnium, Mahytec, Doosan Mobility Innovation, Hexagon Purus, NPROXX, Umoe Advanced Composites, Worthington Industries Inc., HENSOLDT, Quantum Fuel Systems LLC. are some leading hydrogen storage tank firms.