The hydrogen storage tanks and transportation market in the US witnessed substantial market growth owing to the growing adoption of fuel cell applications, stricter pollution control rules, and a preference for cleaner fuel. Policies are also being developed to explore and promote the use of clean fuels such as hydrogen for various energy applications. For example, in the US, the Hydrogen and Fuel Cell Technical Advisory Committee (HTAC) was formed under Section 807 of the Energy Policy Act of 2005 to give technical and programmatic advice to the Energy Secretary on the Department of Energy’s (DOE) hydrogen research.
Some of the top companies in the US market include Worthington Enterprises, Tenaris, Quantum Fuel Systems LLC, Composite Advanced Technologies, LLC., and WELDSHIP. Worthington Enterprises is one of the leading providers of hydrogen storage tanks; they offer pressure cylinders for CNG, LPG, hydrogen, oxygen, and other industrial gases. They are highly recognized for innovative technologies and energy-efficient products. The firm is the leading value-added steel processor, offering consumers a diverse portfolio of goods and services for the automotive, construction, and agriculture industries. The other giant in the hydrogen storage tanks and transportation world is Tenaris, which manufactures, sells, and services steel pipes, tubes, and other associated products and services for the global energy industry, as well as other industrial applications. The company’s manufacturing system spans 16 countries, encompassing steelmaking, pipe rolling and forming, heat treatment, threading, and finishing. Tenaris manufactures sucker rods and oil & gas production accessories at locations in Argentina, Brazil, Mexico, Romania, and the US.
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These companies are focusing on research and development activities for new and innovative hydrogen storage tanks to be developed that can cater to consumer demand in the market while maintaining strong market footprints. For instance, in June 2023, Tenaris broadened its THera product range by introducing a new linear storage system for hydrogen. This innovative storage solution offers increased capacity, ranging from 5 to 100 tons, with a design optimized for high-pressure applications. The THera technology, developed by Tenaris, ensures flexibility and long-term safety in hydrogen storage systems. Additionally, Worthington Enterprises launched a bundle, Max9 Bundle. The new Max9 Bundle features a distinctive steel frame as well as a new cylinder configuration that boosts storage capacity by nearly a quarter while maintaining the traditional bundle footprint in December 2020.
The key factors driving the growth of the US market include the government’s ongoing implementation of regulations and policies to reduce the carbon footprint, coupled with increasing investments in hydrogen infrastructure. The primary drivers of growth in the hydrogen storage tanks and transportation market in the US are rising motor vehicle emissions, the need for cleaner transportation fuels (lower sulfur), an increase in merchant hydrogen gas due to insufficient captive capacities, and the availability of heavy crude oil for processing. In the US, annual hydrogen production is around 10 million metric tons. More than 50 refineries have the capacity to produce hydrogen on-site. One of the most important levers for unlocking the hydrogen economy is the ability to produce large amounts of low-carbon hydrogen at a reasonable cost. The US is well-positioned to produce low-cost, low-carbon hydrogen due to its abundant natural gas supply, enormous carbon storage capacity, and low-cost renewable and nuclear power.
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The US wants to reach net-zero emissions by 2050 and transition to a 100% green energy economy. The California government will invest USD 20 million per year until 100 public hydrogen refueling stations (HRS) are operational. The state of California plans to install 200 HRS by 2025, 1,000 HRS, and 1,000,000 FCEVs by 2030. Based on surveys of auto manufacturers, the California Air Resources Board predicts that 27,000 FCEVs will be installed in California by 2023 and 48,900 by 2026. As a result, an increase in FCEVs and HRS is expected to drive growth in the hydrogen storage tanks and transportation markets in the US.