Hydrogen Tube Trailer Market Will be Worth US$ 498.6 Mn by the End of 2026

Posted by aartimurkute on April 20th, 2022

Hydrogen tube trailers have carved a niche for themselves across the renewable energy sector. The use of hydrogen gas and its safe transportation, handling, and logistics are a matter of discussion amongst governments and private entities. Over the recent past, hydrogen tube trailers have proved their worth by efficiently transporting hydrogen gas across the globe at reasonable prices. The growth of hydrogen tube trailer market oscillates around the accelerated global demand for hydrogen fuel across leading industries, hydrogen stations, and transport applications. Unlike conventional pipeline-based hydrogen delivery that involves huge costs and proper pipeline infrastructure, hydrogen tube trailers are pivotal in compressed gaseous hydrogen transportation and are economically ideal for near-term compressed gaseous hydrogen distribution.

World over, the market for hydrogen tube trailers is anticipated to grow at a whopping CAGR of 10.3% during the prophesied period of 2021 - 2026. The market is expected to reach a market worth US$ 498.6 Mn by the end of 2026, growing from a value of US6.3 Mn in 2020.

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Increasing Consumption of Gaseous Hydrogen Provides Thrust to Hydrogen Tube Trailer Market

Year-on-year demand for gaseous hydrogens has surged exceptionally. Oil refineries and petrochemical plants have emerged as major end-users for hydrogen gases. Hydrogen tube trailers foresee an exponential rise in sales due to escalating demand, strong continuous uptake, and robust investments in hydrogen refueling stations. Moreover, compressed hydrogen trailers are very convenient and frugal for the near-term delivery of hydrogen to H2 refueling stations.

On the flip side, emergence of COVID 19 has left a visible impact on hydrogen production graphs, thus, impeding market growth. The hydrogen industry underwent a major logistics supply chain crisis that precipitates a sharp decline in hydrogen manufacturing. As a ray of hope for vendors, the hydrogen tube trailer market is sprightly restoring its growth and competitiveness at the back of growing hydrogen demand across the green energy sector.

Europe Dominates the Regional Segment for Hydrogen Tube Trailer Market; Asia Pacific to Follow the Suit

Europe takes precedence in the worldwide hydrogen tube trailers market. The region is rapidly advancing towards powering vehicles with optimal utilization of fuel cell-based technologies. Fuel-cell deployment is synchronous to the demand for hydrogen gas in the EU region. Furthermore, demand for pure hydrogen is mainly attributed to oil refining and chemical production in Europe, summing up to 70 Mt per year.

By the end of the forecast period, Asia Pacific is projected to advance to the forefront of the hydrogen tube trailer market. Moreover, hydrogen tube trailer segment is set to garner soaring investments for transportation of gaseous compressed hydrogen from generation sites to refueling stations. In Japan and China, the market for hydrogen tube trailers is likely to offer huge opportunities to deploy proven business models, capital, and innovative ideas.

Key Vendors Capitalize on Providing Premium Transportation Services

Key companies partaking in the hydrogen tube trailer market across the globe are Linde AG, Air Liquide, Roberts Oxygen Company, Inc., Air Products and Chemicals, Inc., Hexagon Composites ASA, Calvera, FIBA Technologies, Inc, Zhejiang Rein Gas Equipment Co., Ltd., Matar Srl. Air Products and Chemicals, Inc. Amongst these, Air Products and Chemicals, Inc. provides gaseous hydrogen tube trailers of up to 142–300 kg/trailer capacity and 2,400 PSIG pressure. Additionally, these companies offer transportation services for liquid hydrogen as well.

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