$4450
$3560
The type IV compressed gas tank market size is expected to reach US$ 8.36 billion by 2031 from US$ 3.39 billion in 2024. The market is anticipated to register a CAGR of 14.09% during 2025–2031.
Type IV Compressed Gas Tank Market Analysis
The Type IV compressed gas tank market is experiencing significant growth, driven by increasing demand for lightweight, high-pressure storage solutions across hydrogen, CNG, and industrial applications.
Type IV Compressed Gas Tank Market Overview
The Type IV compressed gas tanks market is expanding, owing to rising hydrogen use as a clean energy source and lightweight storage requirements in transportation and industrial uses. Type IV composite pressure vessels made of carbon fiber composites are very strong, lightweight weight and resistant to corrosion. They are ideal for storing gas under high pressures.
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Type IV Compressed Gas Tank Market: Strategic Insights
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Type IV Compressed Gas Tank Market Drivers and Opportunities
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Type IV Compressed Gas Tank Market: Strategic Insights
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Market Drivers:
Increased Demand from Aerospace and Defense:
The lightweight and high-strength design of Type IV compressed gas tanks makes them perfect for aerospace and defense utilization.Increased Consumption for Hydrogen Fuel and Energy Storage:
Since industries are transitioning to clean energy technologies, Type IV tanks are being widely used to store hydrogen for fuel cell vehicles and renewable energy applications.Increased Demand due to Environment Regulations:
Governments are promoting lightweight, fuel-efficient, low-emission technologies, which is increasing Demand for Type IV tanks in automotive and industrial applications.Advances in Composite Materials:
Continuous innovation in carbon fiber and polymer linings is enhancing the performance, safety, and durability of Type IV tanks, which are leading to increased consumption.
Market Opportunities:
Growth Potential in Electric and Hydrogen Fuel Cell Vehicles:
The growing production and sales of hydrogen fuel cell vehicles and electric vehicles with compressed gas storage systems create incredible growth potential.Industrial Applications:
Rapid industrialization in developing markets, such as manufacturing and chemical processing, is creating demand for lightweight, high-pressure gas storage.Hydrogen Refueling Infrastructure Development:
Growing hydrogen refueling station infrastructure development is creating opportunities for Type IV tanks in hydrogen storage and transport.Technology Partnerships and Collaborations:
Collaborations between tank manufacturers, automotive original equipment manufacturers, and energy firms willhelp accelerate adoption in the emerging clean energy and mobility space.
Type IV Compressed Gas Tank Market Report Segmentation Analysis
The type IV compressed gas tank market is categorized into distinct segments to understand its structure, growth prospects, and emerging trends. Below is the standard segmentation approach used in industry reports:
By Gas Type:
Hydrogen:
Hydrogen is emerging as a critical gas type in the Type IV compressed gas tank market due to its growing adoption as a clean and sustainable energy source.CNG:
CNG is widely used as a cleaner alternative to gasoline and diesel, particularly in commercial fleets, public transit buses, and light-duty vehicles.Nitrogen:
Type IV compressed gas tanks for nitrogen provide lightweight, corrosion-resistant, high-pressure storage ideal for portable and stationary nitrogen systems.RNC:
It is gaining traction as a sustainable and carbon-neutral alternative to fossil-based natural gas.Other:
Includes emerging or less common gases such as oxygen, argon, helium, and specialty gases for medical, aerospace, and industrial uses.
By Capacity:
Less than 100:
It caters primarily to applications requiring lightweight and compact compressed gas storage solutions.100-250:
It represents a middle ground, balancing storage volume and portability.More than 250:
It is tailored for large-scale industrial, commercial, and vehicular applications requiring substantial compressed gas storage.
By Material Type:
- Carbon Fiber
- Glass Fiber
- Others
By Application:
- Automotive and Transportation
- Industrial
- Others
By Geography:
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa
Market Report ScopeType IV Compressed Gas Tank Market Share Analysis by Geography
The demand for Type IV compressed gas tanks in Asia Pacific is rapidly growing due to the increasing prevalence of respiratory diseases, awareness of healthcare, an increasing elderly population, and favorable government support. Additionally, South & Central America and the Middle East and Africa present significant untapped opportunities to create new pathways for healthcare providers to improve access to progressive medical treatment and improve patient outcomes.
The type IV compressed gas tank market growth differs in each region due to differences in industrial development, clean energy adoption, and government policies. Below is a summary of market share and trends by region:
1. North America
Market Share:
Has a substantial share of the global marketKey Drivers:
- Increasing investments in hydrogen mobility infrastructure and government incentives for zero-emission vehicles are fueling demand for Type IV tanks.
- Strong presence of leading manufacturers
- Supportive regulatory environment
Trends:
Expansion of hydrogen refueling infrastructure
2. Europe
Market Share:
Has a significant portion of the global type IV compressed gas tank marketKey Drivers:
- Europe’s aggressive decarbonization policies and CO? emission regulations are driving demand for hydrogen fuel cells and natural gas vehicles using lightweight Type IV tanks.
- Strong regulatory and policy framework
- Advanced composite manufacturing capabilities.
Trends:
Growing partnerships between automakers and composite manufacturers.
3. Asia Pacific
Market Share:
Fastest-growing region with dominant market shareKey Drivers:
- Increasing production and sales of hydrogen and natural gas-powered vehicles drive strong demand for lightweight, high-performance Type IV tanks.
- Government initiatives for clean energy transition
- Expanding industrial and energy applications
Trends:
Localization of composite material manufacturing and tank assembly.4. Middle East and Africa
Market Share:
Although small, it is growing quicklyKey Drivers:
- Countries such as Saudi Arabia and the UAE are investing in hydrogen and clean fuel projects, increasing the demand for composite cylinders.
- Industrial Expansion
- Infrastructure Development.
Trends:
Focus on Safety and Efficiency.
5. South & Central America
Market Share:
Growing market with steady progressKey Drivers:
- The growing demand for compressed natural gas (CNG) and liquefied petroleum gas (LPG) in residential, commercial, and industrial applications is propelling the adoption of Type IV composite cylinders.
- Regulatory Support:
- Infrastructure Development
Trends:
Adoption of Lightweight Materials.
Type IV Compressed Gas Tank Market Players Density: Understanding Its Impact on Business Dynamics
High Market Density and Competition
Competition is intense due to the presence of major global players such as Hexagon Composites ASA, Luxfer Holdings PLC, Quantum Fuel Systems, Faber Industrie SpA, Everest Kanto Cylinder Ltd, Dragerwerk AG & Co KGaA, CIMC Enric Holdings Ltd, Time Technoplast Ltd, NPROXX B.V
This high level of competition urges companies to stand out by offering:
- Smart Monitoring Systems.
- Efficient Manufacturing
- High durability and performance
- Innovative design and technology integration
Opportunities and Strategic Moves
- Implementing IoT solutions allows real-time monitoring of cylinder performance, enabling predictive maintenance and enhancing overall operational efficiency.
- Growing focus on recyclable and bio-based composite materials is driving interest in sustainable storage solutions.
Disclaimer: The companies listed above are not ranked in any particular order.
Other companies analyzed during the course of research:
- Plastic Omnium
- Worthington Industries, Inc.
- NPROXX
- Quantum Fuel Systems LLC
- Faber Industrie S.p.A.
- CIMC Enric Holdings Limited
- Doosan Mobility Innovation
- Iljin Composites
- Avanco Group
- Ullit S.A.
- Toyota Motor Corporation
- Faurecia (a FORVIA company)
- Mahytec Sarl
Type IV Compressed Gas Tank Market News and Recent Developments
Dräger announced its participation in the São Paulo Congress, Apr 2025:
Dräger announced the demonstration of Vista 300 at COPA SAESP 2025. Dräger announced its participation in the São Paulo Congress of Anesthesiology (COPA SAESP 2025), where it would demonstrate its latest innovation in patient monitoring: the Vista 300.Quantum Fuel Systems (Quantum) launched its next-generation CNG Back-of-Cab Fuel Storage System, Apr 2025:
Quantum Fuel Systems (Quantum), a vertically-integrated leader in gaseous energy storage systems, launched its next-generation CNG Back-of-Cab Fuel Storage System—Q-Cab 190—at the Advanced Clean Transportation (ACT) Expo from April 28 – May 1, 2025. Engineered for heavy-duty trucks, Q-Cab 190 achieves a capacity of 190 DGE (diesel gallon equivalent).
Type IV Compressed Gas Tank Market Report Coverage and Deliverables
The "Type IV Compressed Gas Tank Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Type IV Compressed Gas Tank Market size and forecast at global, regional, and country levels for key market segments covered under the scope
- Type IV Compressed Gas Tank Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Real-time Location Systems Market For Healthcare analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the type IV compressed gas tank market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Challenges include:
High Cost: High costs, safety concerns, complex manufacturing, and limited hydrogen infrastructure.
AI and ML are revolutionizing the type IV compressed gas tank by:
Enhanced Composite Design: AI and ML algorithms process extensive FEA simulation data to optimize composite material designs, including complex geometries of Type IV hydrogen storage vessels.
Major players include Hexagon Composites ASA, Luxfer Holdings PLC, CIMC Enric Holdings Ltd, Faber Industrie SpA, and Time Technoplast Ltd.
Top trends include:
1. Advanced Composite Materials
2. Modular Tank Designs
3. Smart Monitoring Systems
As of 2024, the global type IV compressed gas tank market is valued at ~US$3.39 billion. It is projected to reach US$8.36 billion by 2031, growing at a compound annual growth rate (CAGR) of 14.09% during the forecast period from 2025 to 2031.
While Asia Pacific and North America currently dominate, Europe, South & Central America, and the Middle East & Africa are expected to expand rapidly due to government incentives and growing demand for hydrogen.
The Hydrogen Type IV compressed gas tank segment is experiencing significant growth in the Type IV compressed gas tank market due to growing adoption of fuel cell vehicles, renewable energy storage, and safety innovations.
1. Increased Demand from Aerospace and Defense: The lightweight and high-strength design of Type IV compressed gas tanks makes them perfect for aerospace and defense utilization.
2. Increased Consumption for Hydrogen Fuel and Energy Storage: Since industries are transitioning to clean energy technologies, Type IV tanks are being widely used to store hydrogen for fuel cell vehicles and renewable energy applications.
The List of Companies - Type IV compressed gas Tank Market
- Hexagon Composites ASA
- Luxfer Holdings PLC
- Quantum Fuel Systems
- Faber Industrie SpA
- Everest Kanto Cylinder Ltd
- Dragerwerk AG & Co KGaA
- CIMC Enric Holdings Ltd
- Time Technoplast Ltd
- NPROXX B.V
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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