Hydrogen Tube Trailer Market Size Worth USD 557.5 Million, Globally, by 2030 at a CAGR of 7.3%

Hydrogen Tube Trailer Market to Reach USD 557.5 Million by 2030; FIBA Technologies Entered an Agreement with AGP Helium to Provide its Super Jumbo Trailers


Pune, India., July 31, 2023 (GLOBE NEWSWIRE) -- The global hydrogen tube trailer market size was valued at USD 319.2 million in 2022. The market is anticipated to expand from USD 340.6 million in 2023 to USD 557.5 million by 2030, exhibiting a CAGR of 7.3% over the estimated period. The surge is due to the rising adoption of composite tube trailers by hydrogen producers for efficient transportation and storage. Fortune Business Insights™ provides this information in its research report, titled “Hydrogen Tube Trailer Market, 2023-2030”.

Drivers & Restraints-

Soaring Hydrogen Demand across Numerous Industries to Impel Industry Expansion

The global hydrogen tube trailer market growth is being impelled by the increasing production and consumption of hydrogen across various industries. These include mobility, aviation, hydrogen fueling, refineries, shipping, and petrochemical industries.

However, tube trailers have limited hydrogen carrying capacity. This may hamper industry expansion to some extent.

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Report Highlights:

Report Coverage Details
Forecast Period 2023-2030
Forecast Period 2023 to 2030 CAGR 7.3%
2030 Value Projection USD 557.5 Million
Base Year 2022
Market Size in 2023 USD 340.6 Million
Historical Data for 2019-2021
No. of Pages 144


Competitive Landscape-

Key Players Ink Partnership Deals to Increase Geographical Footprint

Major companies are focused on adopting a series of strategic initiatives for strengthening the positions of their businesses. These include partnerships, merger agreements, and the rollout of new products. These strategies are being adopted for the expansion of product reach and increasing the geographical footprint.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/hydrogen-tube-trailer-market-106975

Segments-

Modular Tube Segment to Gain Traction Owing to Flexibility of Transporting Hydrogen

On the basis of type, the market for hydrogen tube trailer is segregated into intermediate tube, modular tube, and jumbo tube. The modular tube segment dominated the market in 2022 and is expected to exhibit substantial expansion over the projected period. The expansion is due to the increasing product adoption and scalable and efficient transportation.

Industrial Use Segment to Register Commendable Surge Impelled by Increasing Adoption in Numerous Processes

Based on application type, the market is divided into industrial use and hydrogen fuel station. The industrial use segment held a dominant share in the market and is set to register appreciable growth over the study period. The growth is propelled by the soaring adoption of hydrogen as a feedstock in numerous industrial processes.

Based on geography, the market for hydrogen tube trailer is fragmented into Asia Pacific, Europe, North America, and the rest of the world.

Segmentation  By Type
  • Modular Tube
  • Intermediate Tube
  • Jumbo Tube
By Application Type
  • Hydrogen Fuel Station
  • Industrial Use


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Regional Insights-

Asia Pacific to Emerge as Leading Region Impelled by Growing Clean Energy Demand

The Asia Pacific hydrogen tube trailer market share is expected to record appreciable expansion over the projected period. The region dominated the market in 2022 owing to considerable progress in the development of hydrogen infrastructure.

The Europe market is estimated to depict lucrative growth over the study period. The surge is driven by soaring government investments focused on the adoption of clean energy.

Report Coverage:

The report offers a comprehensive analysis of the vital trends propelling industry expansion over the forecast period. It further gives an insight into the key drivers, restraints, and the steps taken by various companies for strengthening the positions of their businesses. These data have been provided after extensive research from credible sources. 

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A list of prominent Hydrogen Tube Trailer manufacturers operating in the global market:

  • FIBA Technologies, Inc. (U.S.)
  • Hexagon Purus ASA (Norway)
  • Composite Advanced Technologies, LLC. (U.S.)
  • Linde plc (Ireland)
  • Weldship Corporation (U.S.)
  • H2 Hauler (Australia)
  • Air Liquide (France)
  • Nishal Enterprises Pvt. Ltd. (India)
  • Air Products and Chemicals, Inc. (U.S.)
  • CALVERA Hydrogen (Spain)
  • ILJIN Hysolus CO., LTD. (South Korea)

COVID-19 Impact:

Market Value Impacted by Decline in Hydrogen Demand on Account of Disruption in Industrial Activities

The pandemic resulted in travel restrictions, lockdown measures, and a decrease in manufacturing activities. The disruptions impacted the delivery and production of tube trailers and their components. The coronavirus pandemic also affected industrial activities in numerous sectors such as aerospace, automotive, and energy. The decreased hydrogen demand amid the pandemic slowed tube trailers’ adoption for transportation.

Notable Industry Development: 

  • January 2023 – FIBA Technologies inked an agreement with AGP Helium. Under the contract, FIBA would provide its Super Jumbo Tube Trailers to AGP. 

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Table of Content:

  • Introduction
    • Research Scope
    • Market Segmentation
    • Research Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Trends
  • Key Insights
    • Key Industry Developments - Mergers, Partnerships, and Collaborations
    • Latest Technological Advancements
    • Porters Five Forces Analysis
    • Impact of COVID-19
  • Global Hydrogen Tube Trailer Market Analysis, Insights and Forecast, 2019-2030
  • 5.1 Key Findings / Definition
  • 5.2. Market Analysis, Insights and Forecast - By Type
    • 5.2.1. Modular Tube
    • 5.2.2. Intermediate Tube
    • 5.2.3. Jumbo Tube
  • 5.3. Market Analysis, Insights and Forecast - By Application Type
    • 5.3.1. Hydrogen Fuel Station
    • 5.3.2. Industrial Use
  • 5.4. Market Analysis, Insights and Forecast - By Region
    • 5.4.1. North America
    • 5.4.2. Europe
    • 5.4.3. Asia Pacific
    • 5.4.4. Rest of World
  • North America Hydrogen Tube Trailer Market Analysis, Insights and Forecast, 2019-2030
    • Market Analysis, Insights and Forecast - By Type
      • Modular Tube
      • Intermediate Tube
      • Jumbo Tube
    • Market Analysis, Insights and Forecast - By Application Type
      • Hydrogen Fuel Station
      • Industrial Use
    • Market Analysis, Insights and Forecast - By Country
      • U.S.
        • Market Analysis, Insights and Forecast - By Type
      • Canada
        • Market Analysis, Insights and Forecast - By Type
      • Mexico
        • Market Analysis, Insights and Forecast - By Type
  • Europe Hydrogen Tube Trailer Market Analysis, Insights and Forecast, 2019-2030
    • Market Analysis, Insights and Forecast - By Type
      • Modular Tube
      • Intermediate Tube
      • Jumbo Tube
    • Market Analysis, Insights and Forecast - By Application Type
      • Hydrogen Fuel Station
      • Industrial Use
    • Market Analysis, Insights and Forecast - By Country
      • U.K.
        • Market Analysis, Insights and Forecast - By Type
      • Germany
        • Market Analysis, Insights and Forecast - By Type
      • France
        • Market Analysis, Insights and Forecast - By Type
      • Rest of Europe
        • Market Analysis, Insights and Forecast - By Type
  • Asia Pacific Hydrogen Tube Trailer Market Analysis, Insights and Forecast, 2019-2030
    • Market Analysis, Insights and Forecast - By Type
      • Modular Tube
      • Intermediate Tube
      • Jumbo Tube
    • Market Analysis, Insights and Forecast - By Application Type
      • Hydrogen Fuel Station
      • Industrial Use
    • Market Analysis, Insights and Forecast - By Country
      • China
        • Market Analysis, Insights and Forecast - By Type
      • India
        • Market Analysis, Insights and Forecast - By Type
      • Japan
        • Market Analysis, Insights and Forecast - By Type
      • South Korea
        • Market Analysis, Insights and Forecast - By Type
      • Rest of Asia Pacific
        • Market Analysis, Insights and Forecast - By Type
  • Rest of World Hydrogen Tube Trailer Market Analysis, Insights and Forecast, 2019-2030
    • Market Analysis, Insights and Forecast - By Type
      • Modular Tube
      • Intermediate Tube
      • Jumbo Tube
    • Market Analysis, Insights and Forecast - By Application Type
      • Hydrogen Fuel Station
      • Industrial Use
  • Competitive Analysis
    • Key Industry Developments
    • Global Market Ranking Analysis (2022)
    • Competitive Dashboard
    • Comparative Analysis - Major Players
    • Company Profiles (Overview, Products & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability)
      • FIBA Technologies, Inc.
      • Hexagon Purus ASA
      • Composite Advanced Technologies, LLC.
      • Linde plc
      • Weldship Corporation
      • H2 Hauler
      • Air Liquide
      • Nishal Enterprises Pvt. Ltd.
      • Air Products and Chemicals, Inc.
      • CALVERA Hydrogen
      • ILJIN Hysolus CO., LTD.

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