LONDON, April 12, 2022 (GLOBE NEWSWIRE) -- Up from 71.1 MT recorded in 2015, global hydrogen demand reached 90 MT in 2020, which clearly indicates the momentous expansion of hydrogen space. While the renewable energy targets are all set to elevate the prospects of green fuel alternatives soon by 2030, hydrogen tube trailers are expected to witness a heavy demand growth in global market. Robust year-over-year increase in hydrogen fuel cell vehicle sales predominantly drives global hydrogen tube trailer market.
Estimated for revenue of over US$498 Mn by the end of 2026, global hydrogen tube trailer market will exhibit impressive growth of 10.3% during 2021 – 2026, forecasts a new report of Fairfield Market Research. Europe will remain the global leader through 2026. Although the planned hydrogen refuelling stations faced a major setback in their phase-wide development amid the initial months of COVID-19 pandemic, the key end users, i.e., logistics firms were back in action and are pushing hydrogen tube tailers market to regain momentum.
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Economical Costs to Pave the Way for Hydrogen Tube Trailers Against Conventional Pipelines
Logistics continues to be the mainstay of the hydrogen fuel pathway. Hydrogen tube trailers play a crucial role in economical transportation of compressed gaseous hydrogen than that by pipeline-based delivery. Hydrogen tube trailers will thus garner preference on the back of higher costs associated with pipeline-based hydrogen delivery, and inadequate pipeline infrastructure. Rising adoption of hydrogen tube trailers for near-term distribution/delivery of compressed gaseous hydrogen is projected to significantly support market growth. Compressed hydrogen trailers will remain sought-after for their cost efficiency when it comes to near-term distribution of gaseous hydrogen to refuelling stations, says the report.
While hydrogen tube trailer market currently records a majority of gains from the key end-use industries like petrochemical, and refinery, several other segments have been gradually showing signs of contributing their bits to global hydrogen consumption volume. Increasing hydrogen demand from transportation, grid injection, synfuel, and ammonia fuel industries is likely to favour market growth over the forecast period.
Investments in Hydrogen Refuelling Stations to Uphold Hydrogen Tube Trailer Prospects
Besides expediting demand from industrial sector, the hydrogen landscape is reaping a substantial benefit out of the surging investments in hydrogen refuelling stations. There has been a notable rise in the number of hydrogen fuel cell vehicles over the recent past, which caused a sharp increase in the number of hydrogen stations as well. The key nations have even set targets for hydrogen refuelling station deployments to be met by the end of 2030. The US aims for more than 7,000 stations, whereas Europe eyes the establishment of around 3,700 new refuelling stations. The top Asian markets, i.e., China, and Japan target the deployment of 500, and 900 stations respectively. With this, there would be over 12,200 hydrogen refuelling stations worldwide, pointing to a huge opportunity approaching hydrogen tube trailer market in the near future.
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However, thriving market prospects of electric vehicles (EVs) is likely to be a roadblock facing hydrogen tube trailer market in long term. Moreover, the challenge will grow intense for hydrogen tube trailer market as the costs of Li-ion batteries see a consistent fall, thereby leading to bringing down the overall manufacturing costs of EVs. On the other hand, as hydrogen-fuelled vehicles tend to place themselves over EVs with superior driving range, and faster refilling, opportunities will continue to arise for hydrogen tube trailer developers, and transportation service providers.
Global Hydrogen Tube Trailer Market: Key Players
The report sheds light on some of the most influential players participating in the global hydrogen tube trailer space. The report provides readers with thorough strategic, and financial profiling of some of the key companies, including 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, and Teledyne Technologies.
REPORT SCOPE & SEGMENTATION:
| REPORT FEATURES | DETAILS |
| Type Coverage | • Modular Tube Trailer • Intermediate Trailer • Jumbo Tube Trailer |
| Application Type | • Hydrogen Fuel Station • Industrial |
| Geographical Coverage | • North America • Europe • Asia Pacific • Latin America • Middle East & Africa |
| 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 Highlights | Key Market Indicators, Macro-micro economic impact analysis, Technological Roadmap, Key Trends, Driver, Restraints, and Future Opportunities & Revenue Pockets, Porter’s 5 Forces Analysis, PEST Analysis, Historical Trend (2018-2019), Price Trend Analysis- 2018-2026, Market Estimates and Forecast, Market Dynamics, Industry Trends, Competition Landscape, Category, Region, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply Chain) |
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