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According to the latest research, the global Hydrogen Pressure Vessels market size was valued at USD 594.46 million in 2022 and is expected to expand at a CAGR of 19.22% during the forecast period, reaching USD 1706.94 million by 2028.
The hydrogen pressure vessel is a closed container used to store hydrogen, which can withstand a certain pressure load, and its materials include metal and non-metal materials. According to different materials, hydrogen pressure vessels are divided into metal bottles (Type I), metal liner fiber hoop wound bottles (Type II), metal liner fiber fully wound bottles (Type III), and non-metal liner fiber wound bottles (Type IV) 4 types.
Increased demand for low-emission fuels
Low-emission fuels include liquid and gaseous biofuels - hydrogen and hydrogen-derived fuels. They play an important role in decarbonizing energy systems where other measures such as direct electrification are difficult or costly to implement, such as heavy industry and long-distance transport sectors. Hydrogen is one of the cleanest burning transportation fuels available. It contains less carbon than other fossil fuels and therefore produces less carbon dioxide emissions. Hydrogen production has increased over the years. In addition, stricter environmental regulations regarding the use of cleaner, lower-emission fuels, and stringent engine manufacturer specifications are expected to further drive the demand for hydrogen over the forecast period. Rising demand for hydrogen is expected to drive the hydrogen pressure vessel market growth.
Composite-based hydrogen pressure vessels are costly
The market for composites and end-user industries is highly competitive. In this case, all decisions are based on commercial considerations. The two most common business factors are capital expenditures (CAPEX) and operating expenses (OPEX). The high prices of raw materials and the high expenditure required in the manufacturing process lead to reduced economies of scale. Therefore, cost-effective design and production techniques are required to achieve overall economies of scale. Carbon fiber and fiberglass are highly capital-intensive and many potential players are not motivated to enter the market due to the high cost of entry. The cost of carbon fiber and glass fiber as the main raw materials of Type III and Type IV is very high, which finally increases the total cost of Type III and Type IV.
Region Overview:
In 2022, the share of the Hydrogen Pressure Vessels market in North America stood at23.40%.
Company Overview:
ILJIN Hysolus CO., LTD. is one of the major players operating in the Hydrogen Pressure Vessels market, holding a share of 12.85% in 2023.
Segmentation Overview:
As for product types, the Type IV segment held the largest market share in 2022.
Application Overview:
By application, the Industrials segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Hydrogen Pressure Vessels industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Hydrogen Pressure Vessels. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Hydrogen Pressure Vessels Market Report Include:
Market Size Estimates: Hydrogen Pressure Vessels market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Hydrogen Pressure Vessels market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Hydrogen Pressure Vessels market
Segment Market Analysis: Hydrogen Pressure Vessels market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Hydrogen Pressure Vessels market situations and prospects in major and top regions and countries
Hydrogen Pressure Vessels Market
Hydrogen Pressure Vessels Industry Chain: Hydrogen Pressure Vessels market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Hydrogen Pressure Vessels Industry News, Policies by regions
Hydrogen Pressure Vessels Industry Porters Five Forces Analysis
Key players in the global Hydrogen Pressure Vessels market are covered in Chapter 2:
CTC
Toyota
NPROXX
Iljin
Luxfer Group
Mahytec (HENSOLDT)
Worthington Industries, Inc.
CLD
Faurecia
Zhangjiagang Furui Hydrogen Power Equipment Co., Ltd.
Hexagon Composites ASA
Plastic Omnium
Quantum Fuel Systems
Faber Industrie S.P.A.
In Chapter 6 and Chapter 9, on the basis of types, the Hydrogen Pressure Vessels market from 2018 to 2028 is primarily split into:
Type I
Type II
Type III
Type IV
In Chapter 7 and Chapter 10, on the basis of applications, the Hydrogen Pressure Vessels market from 2018 to 2028 covers:
Industrials
Automotive
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Hydrogen Pressure Vessels market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Hydrogen Pressure Vessels industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Hydrogen Pressure Vessels market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Hydrogen Pressure Vessels industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Hydrogen Pressure Vessels market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Hydrogen Pressure Vessels market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Hydrogen Pressure Vessels market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
The hydrogen pressure vessel is a closed container used to store hydrogen, which can withstand a certain pressure load, and its materials include metal and non-metal materials. According to different materials, hydrogen pressure vessels are divided into metal bottles (Type I), metal liner fiber hoop wound bottles (Type II), metal liner fiber fully wound bottles (Type III), and non-metal liner fiber wound bottles (Type IV) 4 types.
Increased demand for low-emission fuels
Low-emission fuels include liquid and gaseous biofuels - hydrogen and hydrogen-derived fuels. They play an important role in decarbonizing energy systems where other measures such as direct electrification are difficult or costly to implement, such as heavy industry and long-distance transport sectors. Hydrogen is one of the cleanest burning transportation fuels available. It contains less carbon than other fossil fuels and therefore produces less carbon dioxide emissions. Hydrogen production has increased over the years. In addition, stricter environmental regulations regarding the use of cleaner, lower-emission fuels, and stringent engine manufacturer specifications are expected to further drive the demand for hydrogen over the forecast period. Rising demand for hydrogen is expected to drive the hydrogen pressure vessel market growth.
Composite-based hydrogen pressure vessels are costly
The market for composites and end-user industries is highly competitive. In this case, all decisions are based on commercial considerations. The two most common business factors are capital expenditures (CAPEX) and operating expenses (OPEX). The high prices of raw materials and the high expenditure required in the manufacturing process lead to reduced economies of scale. Therefore, cost-effective design and production techniques are required to achieve overall economies of scale. Carbon fiber and fiberglass are highly capital-intensive and many potential players are not motivated to enter the market due to the high cost of entry. The cost of carbon fiber and glass fiber as the main raw materials of Type III and Type IV is very high, which finally increases the total cost of Type III and Type IV.
Region Overview:
In 2022, the share of the Hydrogen Pressure Vessels market in North America stood at23.40%.
Company Overview:
ILJIN Hysolus CO., LTD. is one of the major players operating in the Hydrogen Pressure Vessels market, holding a share of 12.85% in 2023.
Segmentation Overview:
As for product types, the Type IV segment held the largest market share in 2022.
Application Overview:
By application, the Industrials segment occupied the biggest share from 2018 to 2022.
This report elaborates on the market size, market characteristics, and market growth of the Hydrogen Pressure Vessels industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of Hydrogen Pressure Vessels. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global Hydrogen Pressure Vessels Market Report Include:
Market Size Estimates: Hydrogen Pressure Vessels market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: Hydrogen Pressure Vessels market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Hydrogen Pressure Vessels market
Segment Market Analysis: Hydrogen Pressure Vessels market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: Hydrogen Pressure Vessels market situations and prospects in major and top regions and countries
Hydrogen Pressure Vessels Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.Hydrogen Pressure Vessels Industry Chain: Hydrogen Pressure Vessels market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
Hydrogen Pressure Vessels Industry News, Policies by regions
Hydrogen Pressure Vessels Industry Porters Five Forces Analysis
Key players in the global Hydrogen Pressure Vessels market are covered in Chapter 2:
CTC
Toyota
NPROXX
Iljin
Luxfer Group
Mahytec (HENSOLDT)
Worthington Industries, Inc.
CLD
Faurecia
Zhangjiagang Furui Hydrogen Power Equipment Co., Ltd.
Hexagon Composites ASA
Plastic Omnium
Quantum Fuel Systems
Faber Industrie S.P.A.
In Chapter 6 and Chapter 9, on the basis of types, the Hydrogen Pressure Vessels market from 2018 to 2028 is primarily split into:
Type I
Type II
Type III
Type IV
In Chapter 7 and Chapter 10, on the basis of applications, the Hydrogen Pressure Vessels market from 2018 to 2028 covers:
Industrials
Automotive
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global Hydrogen Pressure Vessels market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the Hydrogen Pressure Vessels industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of Hydrogen Pressure Vessels market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the Hydrogen Pressure Vessels industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on Hydrogen Pressure Vessels market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the Hydrogen Pressure Vessels market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed Hydrogen Pressure Vessels market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
