Scienza e Tecnologia
Carbon Composite Hydrogen Tanks Market Size to Reach US$ 3.0 Billion in 2026, Says Stratview Research
Hydrogen can be physically stored in gaseous form or liquid form. In gaseous form, hydrogen is stored in high-pressure tanks under 350-700 bar of working pressure. Carbon composite hydrogen tanks include type III and Type IV tanks, made by using carbon fiber. Type III tank has a metal liner (aluminum or steel) with a full-composite overwrap, whereas Type IV is a complete carbon fiber made tank having an inner liner made of polyamide or polyethylene plastic.
With rapidly increasing emissions from the transportation sector and other applications, economies across the globe are actively implementing stringent standards and mandates supporting environment preservation. The transportation sector generates a quarter of human-induced CO2 emissions. As the predicament becomes even more daunting, the focus is gradually shifting towards alternative technologies that rely less on fossil fuels, bringing electric vehicles into limelight.
E-mobility is at the juncture of bringing in a revolution in the automotive industry. Battery electric vehicles, plug-in hybrid vehicles, and fuel cell electric vehicles are gaining traction among customers with full tilt. During their entire lifecycle, FCEVs can reduce CO2 emissions by 30% as compared to conventional gasoline vehicles as they do not require large batteries whose production is energy and resource intensive. .
The global EV production stood at 7 Million units in 2019 of which FCEVs accounted for <1% share. In 2020, the exponentially growing market faced an unforeseen hurdle – the COVID19 pandemic. Even though the market managed to dodge incurring any losses, it experienced softened growth in the dreadful year. .
: https://www.stratviewresearch.com/toc/1415/carbon-composite-hydrogen-tanks-market.html
Based on the application type, , driven by the most sought-after FCEVs. Major fuel cell cars on the road incessantly adding momentum to the market are Toyota Mirai, Hyundai Nexo, and Honda Clarity. Despite the pandemic, the transportation carbon composite hydrogen tanks market was flooded with several contracts signed by Hexagon Composites ASA, ILJIN Composites, Plastic Omnium, and Luxfer Holdings PLC.
Based on the tank type, . The major markets for type IV are Japan and South Korea and for type III, China remains the leading market. The key advantages offered by type IV tanks are weight reduction, corrosion-free, fatigue resistance, high storage density, and low total cost of ownership.
None of the regions logged any decline in 2020 but recorded a slowdown in growth. . All three major FC passenger vehicles including Toyota Mirai ( Japan ), Hyundai Nexo ( South Korea ), and Honda Clarity ( Japan ), are manufactured in the region. China , the largest truck producer, also has an avid focus on the development of fuel cell MHCVs. Ceaseless investments and development of several policies towards the adoption of clean energy are underway in Europe , cushioning the region's impressive growth in the next few years.
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The supply chain of this market comprises raw material suppliers, tank manufacturers, and OEMs. . Formation of long-term contracts, application development, and long-term partnerships are some of the key strategies adopted by the major players to gain a competitive edge in the market.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the global carbon composite hydrogen tanks market and has segmented the market in four ways, keeping in mind the interest of all the stakeholders across the value chain. Following are the four ways in which the market is segmented:
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