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Korea Herald
a day ago
- Automotive
- Korea Herald
Will new Nexo revive shrinking hydrogen mobility push?
Hyundai set to boost hydrogen-driven eco-friendly transition with new fuel cell SUV, but market interest in hydrogen mobility remains low Hyundai Motor is set to launch the fully revamped Nexo as early as this month in Korea, seven years after introducing its sole fuel-cell-powered sport utility vehicle currently on the market. With improved performance and fuel efficiency over its predecessor, the new Nexo is positioned to lead Hyundai's initiative to drive the global transition to hydrogen mobility — a vision first outlined in 1998 by Chung Mong-koo, honorary chair and father of current Chair Chung Euisun. 'Nexo represents the essence of sustainable mobility proposed by Hyundai Motor,' said Chung Yoo-seok, executive vice president of Hyundai Motor, during the vehicle's unveiling at the Seoul Mobility Show in April. 'We will accelerate the expansion of the global hydrogen ecosystem beyond Korea's borders and aim to achieve our annual sales target of 11,000 units.' However, recent market conditions cast uncertainty over the ambitions of the world's leading hydrogen vehicle maker. Declining demand for fuel cells In recent years, Korea's fuel-cell electric vehicle market has declined. According to SNE Research, sales dropped from 10,336 vehicles in 2022 to 3,688 in 2024, marking a 65 percent decrease. This downturn reflects deeper structural challenges for FCEVs, rather than a temporary pause, as the transition to eco-friendly mobility is increasingly driven by battery electric vehicles, experts said. 'Many consumers are still hesitant even about EVs, which are far more familiar,' said an industry source who requested anonymity. 'So it's no surprise that skepticism runs even deeper when it comes to hydrogen.' Limited charging access and high hydrogen fuel prices also remain major hurdles for fuel cell mobility. Korea has around 221 hydrogen stations — more than Japan, the US or Germany — but drivers still face inconvenience when refueling. 'Due to amplified safety concerns, strict regulations have resulted in limited station hours and the placement of stations far from residential areas, even though such risks can be mitigated through multiple layers of safety measures,' said Lee Ho-geun, professor of automotive engineering at Daeduk University. Amid these ongoing challenges, the launch of the new model is expected to have a limited impact on the market. Hyundai sold around 750 FCEVs domestically in the first quarter of 2025, and projections suggest that total annual sales may remain close to last year's levels despite the new launch. The global market also shows limited reason for optimism, with only Hyundai and Toyota currently active in the passenger hydrogen vehicle segment. Worldwide sales of FCEVs dropped from 20,704 sales in 2022 to 12,866 in 2024. The decline appears sharper in the passenger segment because China, which has grown to account for 55 percent of global FCEV sales, remains focused mainly on commercial rather than private vehicles. 'Globally, the eco-friendly vehicle market is still largely driven by government policies, such as subsidies, since automakers have yet to achieve the cost and performance competitiveness needed to rival internal combustion engine models,' said Lee. 'Because many countries want to protect their local industries and lack proprietary hydrogen vehicle technology, they are not actively pursuing policies to adopt these vehicles.' Staunch commitment, but long road ahead Despite the discouraging outlook for hydrogen, Hyundai Motor Group has strengthened its momentum in hydrogen mobility efforts since last year, aiming to retain its leading position in the hydrogen mobility era expected to follow EVs. In 2024, it integrated the fuel cell business of its parts-making unit, Hyundai Mobis, into Hyundai Motor Co. to boost synergy between hydrogen technology and vehicle manufacturing. Separately, the group established an overseeing team to complete the hydrogen business value chain, moving beyond a sole focus on fuel cell production. The group also forged partnerships with rivals Toyota and General Motors to collaborate on hydrogen strategies. 'We will work with global partners and harness our full capabilities across the hydrogen value chain to accelerate the adoption of a hydrogen-powered society,' emphasized the group's Vice Chair Chang Jae-hoon at the World Hydrogen Summit 2025 in Rotterdam, Netherlands, in May. Lee also echoed Hyundai's expansion of cooperation with other companies, saying, 'Hyundai needs to expand the overall market by licensing some basic technologies to other automakers at minimal royalty fees.' However, Kim Pil-su, a car engineering professor at Daelim University, said yearslong efforts are still needed before fuel cell vehicles can become a profitable business. 'The hydrogen mobility sector still faces numerous challenges, including high costs and issues related to hydrogen generation, delivery and storage,' he said, noting that automakers in the US and Europe have abandoned plans to launch fuel-cell passenger cars. 'For hydrogen to be truly eco-friendly (to be widely accepted by countries), it must move beyond heavy reliance on fossil fuels for production. However, mass production through water electrolysis is expected to take over a decade.'
Yahoo
27-05-2025
- Business
- Yahoo
Hydrogen Generation Market Share worth $317.39 Billion by 2030 - Exclusive Report by The Research Insights
CHICAGO, May 27, 2025 /PRNewswire/ -- The global Hydrogen Generation Market size is projected to be valued at USD 186.58 billion in 2024 and reach USD 317.39 billion by 2030, growing at a CAGR of 9.3% according to a new report by The Research Insights. The rising need for cleaner fuel alternatives combined with government policies to lower sulfur output from petroleum-based products stimulates market growth. The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Hydrogen Generation Market growth of 9.3% comprises a vast array of, Technology, Application, System, Source, and Geography which are expected to register strength during the coming years. For More Information and To Stay Updated on The Latest Developments in The Global Hydrogen Generation Market Share, Download FREE Sample Pages: Market Overview and Growth Trajectory: Hydrogen Generation Market Growth: According to an exhaustive report by The Research Insights, the Hydrogen Generation Market is experiencing significant growth. The development of several key trends that are influencing the industry landscape. The hydrogen generation market is growing because there is a transition toward sustainable energy solutions that produce low carbon emissions to address potential environmental damage from rising greenhouse gas emissions. FCEVs operate using hydrogen as their fuel source. The demand for clean hydrogen fuel needed to power transport vehicles grow along with the developing need for sustainable transportation across multiple countries. Numerous reports suggest that shifting to a hydrogen-based economy could enable carbon emissions to fall by 99% through fossil fuel replacement. The worldwide pursuit of decarbonization objectives along with a movement toward clean energy sources defines today's energy transition:The global hydrogen generation market is propelled by the increasing worldwide effort for decarbonization alongside a movement toward clean energy sources. Nations across the globe are launching intensive climate policies focused on decreasing greenhouse gas emissions to meet their commitments under the Paris Agreement and achieve their national net-zero goals. Green hydrogen which is generated through renewable energy electrolysis stands as a crucial transition element because of its emission-free nature and capacity to decarbonize challenging sectors like heavy industry and aviation. Large-scale hydrogen strategies with policy incentives, subsidies and pilot project funding are being deployed by governments in Europe, Asia-Pacific and North America to boost production and develop infrastructure. The European Union's Hydrogen Strategy and the U.S. Department of Energy's Hydrogen Shot initiative are both making multi-billion-dollar investments to promote hydrogen as an essential element of clean energy systems. The push for renewable energy solutions and fossil fuel alternatives drives increasing demand for green and blue/gray hydrogen production technologies. For Detailed Hydrogen Generation Market Insights, Visit: The hydrogen generation market expansion is driven by its industrial applications and increasing demand from various end-use sectors:The industrial sector has relied on hydrogen for extended periods while expanding demands from refining and ammonia production, methanol manufacturing and steelmaking now serve as significant market growth drivers. The primary global applications for hydrogen production involve oil refining and chemical manufacturing processes using steam methane reforming (SMR) as the main production method. Due to industrial efforts to find cleaner fuel alternatives to fossil fuels, low-carbon hydrogen shows growing potential as both a feedstock and energy carrier. The steel industry investigates hydrogen-based direct reduction approaches to replace coal in blast furnaces. The production of ammonia for fertilizers and shipping fuel is progressively relying on green hydrogen. The acceleration of industrial decarbonization efforts will lead to a substantial increase in demand for economical and large-scale hydrogen production technologies. Technological Advancements and Economies of Scale:The progress in hydrogen generation technologies especially electrolyzers improves both efficiency and cost-effectiveness which boosts market adoption rates. The development of proton exchange membrane, alkaline, and solid oxide electrolyzers remains active which enhances their conversion efficiency while strengthening durability and their integration with renewable energy systems. CCUS technologies enhance the viability of blue hydrogen by diminishing the carbon footprint of SMR production methods. Investment growth in hydrogen storage facilities as well as distribution networks and refuelling stations leads to strengthened infrastructure for the hydrogen economy. Increased production volumes will enable economies of scale and supply chain improvements to reduce costs and enhance hydrogen's competitiveness across transportation, power generation and residential heating markets. Stay Updated on The Latest Hydrogen Generation Market Trends: Geographical Insights: The hydrogen generation market in 2023 saw the Asia-Pacific region leading with contributions exceeding 35.14% of total revenue. China led this expansion by having numerous refineries which played a major role in boosting hydrogen production usage. The existence of these refineries has played a crucial role in stimulating both innovation and investment within the sector. Japan and Australia's governments are currently investigating green hydrogen production methods to promote sustainable energy practices throughout the region. The hydrogen generation industry throughout North America has experienced continuous growth in recent years due to various applications and technological breakthroughs. The methanol and ammonia production sectors show the fastest growth rates alongside notable expansion in both the United States and Canada during the previous five years. The hydrogen generation industry will experience rapid growth because of technological improvements in fuel cells coupled with its increasing penetration in the European market. The upward trend results from initiatives by the European Commission (EU) which have partnered with Fuel Cells and Hydrogen Joint Undertaking (FCH JU) to sustain this growth. Global Hydrogen Generation Market Segmentation and Geographical Insights: Based on Technology, the hydrogen generation market size is divided into Steam Methane Reforming, Coal Gasification, and Others. The steam methane reforming technology stands out as a highly advanced and mature method of producing hydrogen. Based on Application, the hydrogen generation market share is divided into Methanol production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, and Others. The production of ammonia holds significant revenue potential, accounting for more than 21.0% of market and expected to maintain its lead throughout the forecast period. Based on System, the hydrogen generation market trends is divided into Captive, and Merchant. The merchant generation segment dominated the market, accounting for approximately 60.0% of revenue share. Based on Source, the hydrogen generation market size is divided into Natural Gas, Coal, Biomass, and Water. The natural gas-based hydrogen production accounted for over 72.0% of the total revenue share, underscoring its status as the most cost-effective method of producing hydrogen. The Hydrogen Generation Market Size is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Purchase Premium Copy of Global Hydrogen Generation Market Size and Growth Report (2024-2030) at: Key Players and Competitive Landscape: The Global Hydrogen Generation Market Forecasts is characterized by the presence of several major players, including: Air Liquide International S.A Air Products and Chemicals, Inc Hydrogenics Corporation INOX Air Products Ltd. Iwatani Corporation Linde Plc Matheson Tri-Gas, Inc. Messer SOL Group Tokyo Gas Chemicals Co., Ltd. These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Global Hydrogen Generation Market Recent Developments and Innovations: In November 2024: A SIT Group subsidiary named Hybitat Srl introduced a green hydrogen production and storage solution for home and business applications as well as public installations. The recently sold initial 200 kWh system will be set up in an 18th-century home next year. The system generates hydrogen from surplus solar energy for later electricity conversion or usage as a gas. In October 2024: Adani Group introduced 2.2-2.3% green hydrogen into the natural gas delivered to Shantigram households in Ahmedabad to diminish emissions while working toward its net-zero goals. The joint venture between Adani Total Gas Ltd and TotalEnergies injects clean produced hydrogen into natural gas pipelines to create heat and power that emits less carbon. In July 2024: Tecnimont Private Limited as Tecnimont's Indian subsidiary and NEXTCHEM have launched the first green hydrogen plant for GAIL (India) Limited at Vijaipur located in Madhya Pradesh. The facility received its award in May 2022 and produces 4.3 Tons of green hydrogen daily through 10 megawatt electrolysers. GAIL achieves a historic achievement by becoming India's first company to operate megawatt-scale green hydrogen production which helps India move towards low-carbon energy solutions. In April 2024: Panasonic's Electric Works Company disclosed plans to introduce a pure hydrogen fuel cell generator known as PH3 to markets in Europe, Australia, and China. A chemical reaction between high-purity hydrogen and oxygen generates power through the generator's operation. Panasonic launched the PH1 5 kW hydrogen business model in 2021 and now continues its expansion beyond Japan through new initiatives. In February 2024: The Haryana-based company Hygenco revealed its plans to establish the first working green hydrogen facility in Hisar, India. The facility creates green hydrogen which generates power while producing no carbon dioxide emissions. This represents a major advancement for India's sustainable energy initiatives. The project intends to help establish a low-carbon economic system within the country. For Region-Specific Market Data, Check Out Brief Sample Pages: Hydrogen Generation Market Report Scope Report Attribute Details Market size value in 2024 USD 186.58 billion Revenue forecast in 2030 USD 317.39 billion Growth rate CAGR of 9.3% from 2024 to 2030 Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends Segments covered By Technology, By Application, By System, By Source, By Region Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa Key companies profiled Linde Plc; Messer; Air Products and Chemicals, Inc; Air Liquide International S.A; INOX Air Products Ltd.; Matheson Tri-Gas, Inc.; SOL Group; Iwatani Corporation; Hydrogenics Corporation; Tokyo Gas Chemicals Co., Ltd.; Taiyo Nippon Sanso Corporation; Teledyne Technologies Incorporated; Hygear; Claind; and Advanced Specialty Gases Inc., among others. Frequently Asked Questions (FAQs): What is the current size of the hydrogen generation market?- The current market size of the hydrogen generation market is USD 186.58 billion in 2024. Who are the leading players in the hydrogen generation market?- The key players in the hydrogen generation market include Linde Plc; Messer; Air Products and Chemicals, Inc; Air Liquide International S.A; INOX Air Products Ltd.; Matheson Tri-Gas, Inc.; SOL Group; Iwatani Corporation; Hydrogenics Corporation; Tokyo Gas Chemicals Co., Ltd.; Taiyo Nippon Sanso Corporation; Teledyne Technologies Incorporated; Hygear; Claind; and Advanced Specialty Gases Inc. What are the major drivers for the hydrogen generation market? - Growing demand for cleaner fuels and the implementation of supportive government policies to decarbonize various sectors are some of the major drivers for the hydrogen generation market. Which is the largest region during the forecasted period in the hydrogen generation market?- Asia Pacific is expected to dominate the hydrogen generation market between 2024–2030, followed by North America and Europe. Which is the largest segment, by technology, during the forecasted period in the hydrogen generation market?- The steam methane reforming (SMR) segment is expected to be the largest market during the forecast period. SMR is a cost- and energy-efficient method of producing hydrogen. It is commonly used due to the easy availability of raw material (methane). These factors are responsible for the growth of the segment. Need A Diverse Region or Sector? Customize Research to Suit Your Requirement: Conclusion: The global hydrogen generation market faces transformation because of increasing clean energy demands and strict emissions regulations along with technological advancements in electrolysis and fuel cell systems. The urgent requirement to reduce carbon emissions from industrial processes and power generation alongside transportation systems has established hydrogen as an essential driver for worldwide energy transition. Financial support for green hydrogen initiatives powered by renewable energy systems is speeding up the transition away from fossil-derived hydrogen toward sustainable energy solutions. The utilization of hydrogen technology is growing quickly in ammonia production as well as oil refining, heavy-duty transportation, and energy storage systems. Integrating hydrogen with smart grid systems and renewable infrastructure demonstrates how hydrogen contributes to the development of resilient economies with lower carbon footprints. Hydrogen needs continuous development in scalable production methods alongside cost-effective processes and advanced storage solutions to achieve its full potential. Hydrogen generation technologies will serve as essential foundations for future energy systems within comprehensive net-zero strategies and worldwide climate commitments. The report from The Research Insights, therefore, provides several stakeholders— governments, energy and utility companies, industrial gas suppliers, regulatory bodies, and environmental agencies—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities. With projected growth to US$ 317.39 billion by 2030, the Global Hydrogen Generation Market represents a significant opportunity for green technology startups, renewable energy developers, electrolysis equipment manufacturers, automotive OEMs focusing on fuel cell vehicles, and venture capital firms, can position themselves for success in this dynamic and evolving market landscape. Check out more related studies published by The Research Insights: Hydrogen Storage Market: According to a new report by The Research Insights, over the forecast period we anticipate substantial expansion in demand for sustainable hydrogen storage systems. The emphasis on alternative energy sources that provide dependable eco-friendly solutions compared to conventional fossil fuels will drive the worldwide market's progress. Green Hydrogen Market: The worldwide green hydrogen market is expected to grow substantially because multiple elements are driving this expansion. With a market size of USD 11.86 billion reported in 2025 the global green hydrogen market expects to achieve a strong compound annual growth rate (CAGR) of 38.5% from 2025 through 2030. The swift market growth stems from renewable energy sources like wind and solar power powering electrolysis which turns water into hydrogen. Hydrogen Fueling Station Market: The global hydrogen fueling station market size is projected to hit USD 832.5 million by 2024 and expand at an annual growth rate of 25.2% between 2024 and 2030. The increasing requirement for zero-emission vehicles from both governments and consumers who want to replace traditional gasoline and diesel cars acts as a primary growth catalyst. Browse More related reports on Energy & Power Industry Market Reports – About Us: The Research Insights provides thoroughly conducted research which is backed up by real-time statistics and data. Our experts are eager to help you with any information required under the sun. The key to our success is keeping abreast with the markets, industries, and ever-changing consumer trends that matter. Our market research professionals have in-depth knowledge and expertise across various domains that includes IT and Telecom, Emerging Technologies, Consumer Offerings, Manufacturing and Others. We are committed to reviewing the scope and procedure of the research studies that you select and provide you with an accurate guidance in order to assist you in taking the correct business decisions. Contact Us:If you have any queries about this report or if you would like further information, please contact us: Contact Person: Kaushik RoyE-mail: sales@ +1-312-313-8080Press Release: Latest News: | | Logo: View original content to download multimedia: SOURCE The Research Insights Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Hydrogen Tanks Market Forecast Report 2025-2030: Burgeoning Opportunities in Growing Adoption in Military and Defense Sectors, & Emergence of Lightweight Composite Material-based Hydrogen Tanks
As demand for green hydrogen rises, hydrogen tanks become crucial for storage in transportation, industrial, and power sectors. North America emerges as the third-largest market, with strong investment in infrastructure and clean energy. Above 500 bar pressure tanks are integral for high-demand applications like FCEVs. Major players like Worthington Enterprises and Hexagon Purus are leading innovation. The report details market drivers, challenges, product developments, and competitive strategies. Hydrogen Tanks Market Dublin, May 12, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Tanks Market by Tank Type (Type 1, Type 2, Type 3, Type 4), Material Type (Metal, Composite), Pressure (Below 250 Bar 250 to 500 Bar, Above 500 Bar), Application (Stationary Storage, Fuel Tank, Transportation), & Region - Global Forecast to 2030" has been added to offering. The hydrogen tanks market is set to soar, with an estimated valuation of USD 1.37 Billion in 2025, projected to reach USD 3.78 Billion by 2030, growing at a CAGR of 22.5% from 2025 to 2030. The report offers a thorough examination of growth influencers such as key drivers, constraints, challenges, and opportunities. It provides an in-depth analysis of industry players, detailing their business strategies, solutions, product launches, mergers, acquisitions, partnerships, and agreements. This extends to assessing the competitive landscape, aiding both market leaders and new entrants in formulating effective go-to-market strategies and understanding the market pulse. This surge is largely driven by the global pivot toward clean energy and the expanding green hydrogen economy. As governments and businesses emphasize sustainability and carbon reduction, hydrogen emerges as a premier solution for decarbonizing transportation, industrial, and power sectors. Its role as an efficient clean energy carrier is particularly pronounced in the push for green hydrogen storage solutions, spurring innovation and investments in high-pressure hydrogen tank storage techniques. Above 500 bar pressure hydrogen tanks hold significant market share. The demand for hydrogen tanks capable of withstanding pressures over 500 bar is substantial, especially given their role in high-demand applications like transportation and industry. As fuel cell electric vehicles (FCEVs) and heavy-duty applications such as buses and trucks become more prevalent, there's a pressing need for high-pressure tanks. Storing hydrogen at such pressures ensures a compact, energy-dense fuel source, crucial for ultra-long-range vehicles and industries with stringent standards. North America: A key region in the hydrogen tanks market. North America stands as the third largest regional market, propelled by heightened investments in hydrogen infrastructure and significant governmental support for clean energy initiatives. The US and Canada are leading advancements in hydrogen production, with their respective focuses on fuel cell vehicles and green hydrogen production. The region's robust automotive industry, with key players funneling investments into hydrogen fuel cell technologies, amplifies the demand for advanced hydrogen storage solutions. Key Insights Offered: Analysis of market drivers, including the rising demand for fuel cell electric vehicles and clean energy, along with challenges such as the high cost of composite-based tanks. Insights into upcoming technological innovations and service launches in the hydrogen tanks sector. Market development trends across regions, highlighting lucrative markets and investment opportunities. Comprehensive competitive assessment of key industry players, focusing on growth strategies and offerings. Key Attributes: Report Attribute Details No. of Pages 243 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $1.37 Billion Forecasted Market Value (USD) by 2030 $3.78 Billion Compound Annual Growth Rate 22.5% Regions Covered Global Market Dynamics Drivers Growing Demand for Clean Energy Solutions Increasing Demand for Hydrogen Fuel-Cell Vehicles Growing Government Investments & Initiatives Restraints High Cost of Composite-based Tanks Safety Concerns and Regulations Opportunities Growing Adoption of Hydrogen Tanks in Military and Defense Sector Emergence of Lightweight Composite Material-based Hydrogen Tanks Challenges Lack of Hydrogen Refueling Stations Capital-Intensive Production Case Studies Swagelok and Luxfer Gas Cylinders Collaborated for Hydrogen Fuel Solutions Nproxx's Innovative Hydrogen Storage Solutions to Revolutionize Public Transportation Worthington Enterprises Partnered with Stokota to Design and Manufacture Compressed Hydrogen Transport Technology Company Profiles Worthington Enterprises Luxfer Gas Cylinders Hexagon Purus Quantum Fuel Systems LLC Faber Industrie S.P.A. Everest Kanto Cylinder Ltd. Beijing Tianhai Industry Co. Ltd. Composites Advanced Technologies, LLC (Catec Gases) Nproxx Tenaris Opmobility Umoe Advanced Composites Cimc Enric Holdings Limited Doosan Mobility Innovation Advanced Structural Technologies Bnh Gas Tanks Calvera Hydrogen Mahytec Steelhead Composites, Inc. Bayotech Ecs Composite Advanced Material Systems Co. Vako GmbH & Co. KG Alsafe Company Voith GmbH & Co. KGaA For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Hydrogen Tanks Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
12-05-2025
- Business
- Yahoo
Hydrogen Tanks Market Forecast Report 2025-2030: Burgeoning Opportunities in Growing Adoption in Military and Defense Sectors, & Emergence of Lightweight Composite Material-based Hydrogen Tanks
As demand for green hydrogen rises, hydrogen tanks become crucial for storage in transportation, industrial, and power sectors. North America emerges as the third-largest market, with strong investment in infrastructure and clean energy. Above 500 bar pressure tanks are integral for high-demand applications like FCEVs. Major players like Worthington Enterprises and Hexagon Purus are leading innovation. The report details market drivers, challenges, product developments, and competitive strategies. Hydrogen Tanks Market Dublin, May 12, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Tanks Market by Tank Type (Type 1, Type 2, Type 3, Type 4), Material Type (Metal, Composite), Pressure (Below 250 Bar 250 to 500 Bar, Above 500 Bar), Application (Stationary Storage, Fuel Tank, Transportation), & Region - Global Forecast to 2030" has been added to offering. The hydrogen tanks market is set to soar, with an estimated valuation of USD 1.37 Billion in 2025, projected to reach USD 3.78 Billion by 2030, growing at a CAGR of 22.5% from 2025 to 2030. The report offers a thorough examination of growth influencers such as key drivers, constraints, challenges, and opportunities. It provides an in-depth analysis of industry players, detailing their business strategies, solutions, product launches, mergers, acquisitions, partnerships, and agreements. This extends to assessing the competitive landscape, aiding both market leaders and new entrants in formulating effective go-to-market strategies and understanding the market pulse. This surge is largely driven by the global pivot toward clean energy and the expanding green hydrogen economy. As governments and businesses emphasize sustainability and carbon reduction, hydrogen emerges as a premier solution for decarbonizing transportation, industrial, and power sectors. Its role as an efficient clean energy carrier is particularly pronounced in the push for green hydrogen storage solutions, spurring innovation and investments in high-pressure hydrogen tank storage techniques. Above 500 bar pressure hydrogen tanks hold significant market share. The demand for hydrogen tanks capable of withstanding pressures over 500 bar is substantial, especially given their role in high-demand applications like transportation and industry. As fuel cell electric vehicles (FCEVs) and heavy-duty applications such as buses and trucks become more prevalent, there's a pressing need for high-pressure tanks. Storing hydrogen at such pressures ensures a compact, energy-dense fuel source, crucial for ultra-long-range vehicles and industries with stringent standards. North America: A key region in the hydrogen tanks market. North America stands as the third largest regional market, propelled by heightened investments in hydrogen infrastructure and significant governmental support for clean energy initiatives. The US and Canada are leading advancements in hydrogen production, with their respective focuses on fuel cell vehicles and green hydrogen production. The region's robust automotive industry, with key players funneling investments into hydrogen fuel cell technologies, amplifies the demand for advanced hydrogen storage solutions. Key Insights Offered: Analysis of market drivers, including the rising demand for fuel cell electric vehicles and clean energy, along with challenges such as the high cost of composite-based tanks. Insights into upcoming technological innovations and service launches in the hydrogen tanks sector. Market development trends across regions, highlighting lucrative markets and investment opportunities. Comprehensive competitive assessment of key industry players, focusing on growth strategies and offerings. Key Attributes: Report Attribute Details No. of Pages 243 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $1.37 Billion Forecasted Market Value (USD) by 2030 $3.78 Billion Compound Annual Growth Rate 22.5% Regions Covered Global Market Dynamics Drivers Growing Demand for Clean Energy Solutions Increasing Demand for Hydrogen Fuel-Cell Vehicles Growing Government Investments & Initiatives Restraints High Cost of Composite-based Tanks Safety Concerns and Regulations Opportunities Growing Adoption of Hydrogen Tanks in Military and Defense Sector Emergence of Lightweight Composite Material-based Hydrogen Tanks Challenges Lack of Hydrogen Refueling Stations Capital-Intensive Production Case Studies Swagelok and Luxfer Gas Cylinders Collaborated for Hydrogen Fuel Solutions Nproxx's Innovative Hydrogen Storage Solutions to Revolutionize Public Transportation Worthington Enterprises Partnered with Stokota to Design and Manufacture Compressed Hydrogen Transport Technology Company Profiles Worthington Enterprises Luxfer Gas Cylinders Hexagon Purus Quantum Fuel Systems LLC Faber Industrie S.P.A. Everest Kanto Cylinder Ltd. Beijing Tianhai Industry Co. Ltd. Composites Advanced Technologies, LLC (Catec Gases) Nproxx Tenaris Opmobility Umoe Advanced Composites Cimc Enric Holdings Limited Doosan Mobility Innovation Advanced Structural Technologies Bnh Gas Tanks Calvera Hydrogen Mahytec Steelhead Composites, Inc. Bayotech Ecs Composite Advanced Material Systems Co. Vako GmbH & Co. KG Alsafe Company Voith GmbH & Co. KGaA For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Hydrogen Tanks Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
09-05-2025
- Automotive
- The Star
Hydrogen refuel station to drive clean energy R & D
Fuel of the future: Chang (second from right) and Rezal Khairi (fourth from right) attending the launch of the MHRS in Putrajaya. — ART CHEN/The Star PUTRAJAYA: Malaysia has taken significant steps towards a clean energy future by introducing the Mobile Hydrogen Refuelling Station (MHRS) development project to drive innovation in the hydrogen-based mobility sector, it was revealed. The RM15mil pilot project, located at Precinct 2 here, is capable of supplying 50kg of hydrogen daily through the small-scale station. Science, Technology and Innovation Minister Chang Lih Kang said the MHRS not only boosted R&D in hydrogen and fuel cell technology, it also supported the national target of achieving zero carbon emission by 2050. 'There are no hydrogen-powered vehicles in Malaysia, but we have hydrogen fuel cell electric vehicle (FCEV) suppliers. 'Basic infrastructure for FCEV refuelling should be created to accelerate the adoption of hydrogen as a fuel in the transportation and mobility sector,' he told a press conference after launching the MHRS here yesterday, Bernama reported. The project is supported by the Science, Technology and Innovation Ministry (Mosti) through the National Nanotechnology Centre (NNC) and NanoMalaysia Bhd (NMB), in collaboration with PETRONAS Technology Ventures Sdn Bhd (PTVSB), Sime UMW, UMW Toyota Motor Sdn Bhd (UMWT) and the Malaysian Green Technology and Climate Change Corp (MGTC). NMB, as the asset administrator representing Mosti, will operate the MHRS station and test site for new technologies to explore long-term commercial opportunities. PTVSB supplies hydrogen and oversees the station's engineering, procurement, construction and commissioning (EPCC) while Sime UMW and UMWT will provide three Toyota Mirai hydrogen-powered vehicles and offer essential operational and maintenance services. Chang said the MHRS will play the role of educating the public on the current status of hydrogen technology and demonstrating that hydrogen can now be used as a fuel for vehicles. 'But we need to create the ecosystem first, as we are starting from scratch. We don't have the users and the supply but we are targeting that by 2030, there will be FCEVs on Malaysian roads,' he said. NMB chief executive officer Dr Rezal Khairi Ahmad said the MHRS would be a catalyst for clean energy infrastructure and pave the way for investments and innovation as well as strengthen Malaysia's position as a regional hub for hydrogen technology. 'Under the leadership of Mosti, NMB will continue to leverage the full potential of the MHRS in close collaboration with local authorities, stakeholders and industry players to make Putrajaya the starting point for the country's hydrogen-powered mobility transformation,' he said.
