Hydrogen Tube Trailer Market Revenue Poised to Attain Revenue Worth US$498.6 Mn by 2026 | Fairfield Market Research Highlights Emphasis on Fuelling Stations
According to Fairfield Market Research, The Global Hydrogen Tube Trailer Market Was Valued at US$ 276.3 Mn in 2020 And is Anticipated to Be Worth US$498.
London, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Hydrogen holds massive untapped potential as a fuel, and commercialization of hydrogen as a mainstream fuel would address the most concerning global issues, i.e., fossil fuel consumption, and greenhouse gas emissions. With the auto world eyeing fruitful commercialization of electric vehicles (EVs) running on hydrogen fuel cell, a reliable hydrogen conveyance framework will remain in the limelight. This will be a major growth influencer for hydrogen tube trailer market. Exhibiting 10.3% growth between 2021 and 2026, global hydrogen tube trailer market is expected to reach the valuation of US$498.6 Mn. Fairfield Market Research in its recent report states that mounting hydrogen consumption by refineries, and petrochemical industries further offers a heavy impetus to hydrogen tube trailer market. The report also highlights that the augmenting capital investments in hydrogen refuelling stations clearly point to a massive opportunity approaching for trailers that would experience extensive adoption for hydrogen delivery.
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Key Research Insights
Compressed hydrogen trailers are anticipated to be the most preferred type given the cost efficiency, especially for near-term gaseous hydrogen transport to refuelling stations
Modular tube trailers dominant with over 66% market share, while jumbo trailers emerge more lucrative
Hydrogen refuelling stations remain the top area of application
Refinery, and petrochemical industries continue to be the prime end user segments, whereas synfuel, grid injection, transportation, and ammonia fuel are rapidly emerging as the next important hydrogen consuming segments favouring market growth
Insights into Segmental Analysis
With estimations about the world housing more than 12,000 hydrogen refuelling stations in the near future, the report projects refuelling stations to remain the dominant category in hydrogen tube trailer market. Substantial growth in demand coming in from industrial sector has been pushing capital investments in hydrogen refuelling stations. The key economies worldwide have set their hydrogen fuelling station targets to be met by 2030. This is likely to boost the growth of the top application segment in hydrogen tube trailer market, i.e., hydrogen refuelling stations. Research finds that the US eyes over 7,000 stations, while Europe targets more than 3,500 new stations by 2030. China has set a target of 500 refuelling stations, whereas Japan eyes the establishment of 900 new stations by 2030 end. On the other hand, type-wise analysis of hydrogen tube trailer market affirms dominance of modular trailers with more than 66% share in total market valuation. However, the report also indicates a more profitable opportunity that resides in jumbo tube trailers that possess greater hydrogen carrying capacity over that of the former. The segment is likely to exhibit more than 11% growth in demand through 2026, says the report.
Key Report Highlights
Hydrogen tube trailers will most likely gain ground on the back of expensive costs that are associated with conventional, pipeline-based hydrogen delivery infrastructure
Opportunities abound in EV space as hydrogen fuel cell-powered EVs are perceived as preferable over Li-ion battery EVs on the back of their faster refilling, and desirable driving range
Worldwide hydrogen demand that reached nearly 90 MT in the year 2020 points to the exceptionally momentous growth of global hydrogen space. Y-o-Y rise in hydrogen fuel cell vehicles, and elevating prospects of hydrogen as a green fuel alternative are likely to accentuate the need for hydrogen tube trailers
Insights into Regional Analysis
The study marks presence of over 80 new online hydrogen refuelling stations in 2019, whereas the Europe alone is expecting an addition of 3,700 new hydrogen refuelling stations by the end of 2030. Moreover, the year 2020 witnessed pure hydrogen demand to reach 90 MT, and chemical manufacturers and oil refiners registered a majority of consumption. The report reveals in its regional analysis of the market that nearly 80% of the overall hydrogen tube trailer market value is concentrated collectively in Europe, and Asia Pacific. Germany will continue to be at the forefront banking on the leading German trailer manufacturers. While Europe, and North America are touted as the markets nearing maturity, hydrogen tube trailer market of Asia Pacific is yet to mature due to the relatively superficial penetration of hydrogen tube trailers across the Asian subcontinent. Japan, China, and South Korea will reportedly spearhead Asia Pacific’s hydrogen tube trailer market, whereas Australia, and India have also been reflecting strong indications of developing lucrative markets post-2020. On the other hand, North America follows Europe, and Asia Pacific, and is also projected to demonstrate strong growth of nearly 10.3% through 2026 end. Led by the US, the hydrogen tube trailer market here will primarily benefit from the estimated growth in the number of refuelling stations, i.e., more than 7,000 new stations by 2030.
Top Companies in Global Hydrogen Tube Trailer Market
Among the prominent players that are likely to steer the competition landscape of global hydrogen tube trailer market, the report has covered some, to reveal the remarkable strategic developments and strategic profiling that hold measurable influence on the performance of market. Some of the profiled players include Xebec Adsorption, Hydrogenics Corporation, Air Products and Chemicals, Inc., Praxair, Inc., Air Liquide S.A., INOX Air Products Ltd., Messer Group GmbH, Linde AG, Iwatani Corporation, Nuvera Fuel Cells, Taiyo Nippon Sanso Corporation, Ally Hitech Co. Ltd, Caloric Anlagenbau, Nel ASA, Plug Power, Baosteel Gases, Teledyne Technologies, and Gulf Cryo.
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REPORT SCOPE
Report Attributes | Details | |
Base Year | 2020 |
|
Forecast Year | 2021 – 2026 | |
Market Size in 2020 | US$276.3 Mn | |
Estimated Market Size in 2026 | US$498.6 Mn | |
CAGR | 10.3% |
|
Key Players | Air Products and Chemicals, Inc., Hydrogenics Corporation, Praxair, Inc., INOX Air Products Ltd., Air Liquide S.A., Messer Group GmbH, Iwatani Corporation, Linde AG, Nuvera Fuel Cells, Caloric Anlagenbau, Taiyo Nippon Sanso Corporation, Ally Hitech Co. Ltd, Xebec Adsorption, Nel ASA, Plug Power, Gulf Cryo, Baosteel Gases, Teledyne Technologies | |
Market Segmentation
Type Coverage
Modular Tube Trailer
Intermediate Trailer
Jumbo Tube Trailer
Application Type
Hydrogen Fuel Station
Industrial
Geographical Coverage
North America
Europe
Latin America
Middle East & Africa
Asia Pacific
Leading Companies
Air Liquide
Linde AG
Air Products and Chemicals, Inc.
Roberts Oxygen Company, Inc.
Calvera
Hexagon Composites ASA
Zhejiang Rein Gas Equipment Co., Ltd.
FIBA Technologies, Inc
Matar Srl.
Weldship Corporation
Composite Advanced Technologies, LLC.
Report Inclusions
Market Estimates and Forecast
Market Dynamics
Industry Trends
Competition Landscape
Type-wise Analysis
Application-wise Analysis
Region-wise Analysis
Country-wise Analysis
Key Trends Analysis
COVID-19 Impact Analysis
About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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