CNG, RNG and Hydrogen Tanks

Global CNG, RNG and Hydrogen Tanks Market to Reach US$5.1 Billion by 2030

The global market for CNG, RNG and Hydrogen Tanks estimated at US$2.9 Billion in the year 2024, is expected to reach US$5.1 Billion by 2030, growing at a CAGR of 10.0% over the analysis period 2024-2030. Metal Tanks, one of the segments analyzed in the report, is expected to record a 11.7% CAGR and reach US$2.4 Billion by the end of the analysis period. Growth in the Glass Fiber Tanks segment is estimated at 9.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$785.8 Million While China is Forecast to Grow at 13.9% CAGR

The CNG, RNG and Hydrogen Tanks market in the U.S. is estimated at US$785.8 Million in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 13.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.0% and 8.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.9% CAGR.

Global CNG, RNG, and Hydrogen Tanks Market – Key Trends & Drivers Summarized

Why Is the Market for CNG, RNG, and Hydrogen Tanks Growing Rapidly?

The demand for Compressed Natural Gas (CNG), Renewable Natural Gas (RNG), and Hydrogen Tanks is on the rise, driven by the global transition toward cleaner fuel alternatives. Governments worldwide are aggressively promoting the adoption of low-emission fuels, leading to increased investments in infrastructure for CNG, RNG, and hydrogen fuel storage. Stringent environmental regulations, carbon neutrality targets, and growing consumer awareness regarding greenhouse gas (GHG) emissions have also led to a substantial surge in demand. In addition, advancements in tank manufacturing technologies, such as lightweight composite materials and enhanced safety mechanisms, have contributed to the increased feasibility of widespread adoption. A significant trend shaping the market is the shift towards renewable natural gas (RNG) and green hydrogen as sustainable alternatives to conventional fossil fuels. RNG, derived from organic waste, is gaining traction, especially in the transportation sector, due to its near-zero carbon footprint. Meanwhile, hydrogen is emerging as a key component of the clean energy ecosystem, supported by declining costs of electrolysis and innovations in hydrogen storage. Consequently, industry players are focusing on developing high-pressure storage solutions capable of meeting safety and efficiency standards.

What Are the Innovations in Tank Technology and Materials?

The advancement in composite tank technologies has been a game-changer in the storage of CNG, RNG, and hydrogen. Traditionally, metal tanks were used, but they were heavy and inefficient for high-pressure gas storage. The development of Type III and Type IV composite tanks, which use carbon fiber-reinforced polymer (CFRP) and thermoplastic liners, has led to improved performance characteristics, including higher pressure endurance, reduced weight, and longer lifespans. These innovations are particularly critical in the automotive, aerospace, and industrial sectors, where lightweight solutions are necessary for optimal fuel efficiency. Furthermore, modular storage solutions have become increasingly popular, enabling easier scalability for refueling stations and transportation fleets. Hydrogen storage, in particular, presents unique challenges due to its lower energy density per volume, necessitating cryogenic storage and metal hydride-based solutions. Several industry leaders are investing in next-generation solid-state hydrogen storage technologies, which promise greater energy density, improved safety, and cost-effectiveness. As manufacturing techniques evolve, production costs of these advanced tanks are gradually declining, making adoption more economically viable across multiple industries.

Which Sectors Are Driving the Demand for Advanced Fuel Tanks?

The transportation sector is at the forefront of demand for CNG, RNG, and hydrogen tanks, primarily due to the growing adoption of alternative-fuel vehicles. The push toward zero-emission mobility, stringent fuel efficiency norms, and government incentives have accelerated the deployment of hydrogen fuel cell vehicles (FCEVs), compressed natural gas (CNG) buses, and RNG-powered heavy-duty trucks. Countries like the United States, Germany, China, and Japan have announced ambitious hydrogen mobility plans, fueling investments in high-capacity, lightweight tank solutions. Additionally, the marine and aviation industries are exploring hydrogen-based propulsion systems, necessitating robust hydrogen storage infrastructures. Power generation is another key area witnessing increased adoption, as industries look toward hydrogen as an energy carrier for grid balancing and backup power solutions. The rise of green hydrogen projects backed by large-scale investments from governments and private players is further bolstering demand for advanced hydrogen storage tanks. Beyond transportation and energy, industrial applications such as manufacturing, chemical processing, and metal refining rely on hydrogen as a feedstock. The shift towards low-carbon production processes has led to an uptick in hydrogen consumption, necessitating the deployment of high-pressure storage and distribution solutions. In parallel, RNG is increasingly being integrated into natural gas pipelines, requiring specialized storage solutions for effective distribution.

What Are the Key Growth Drivers of This Market?

The growth in the CNG, RNG, and Hydrogen Tanks market is driven by several factors, including technological advancements, regulatory mandates, and increased infrastructure investments. The transition to cleaner fuels, backed by government subsidies and carbon pricing mechanisms, is significantly accelerating the demand for efficient gas storage solutions. Additionally, innovations in fuel cell technology, hydrogen refueling stations, and RNG processing facilities are further catalyzing market expansion. Consumer behavior is also shifting towards sustainability, prompting automakers, fleet operators, and energy companies to invest in greener alternatives. The rise of public-private partnerships in developing hydrogen corridors and CNG/RNG fueling networks is another crucial driver. Falling costs of renewable energy and electrolyzers are making hydrogen production more affordable, directly impacting the storage tank market by increasing adoption across multiple industries. Moreover, rising investments in R&D and strategic collaborations among key market players are leading to improved storage efficiencies and cost reductions. For instance, the development of liquid organic hydrogen carriers (LOHCs) and solid-state hydrogen storage solutions is poised to revolutionize the industry. As global efforts towards carbon neutrality and energy security intensify, the demand for CNG, RNG, and hydrogen tanks is expected to witness an upward trajectory, setting the stage for robust market expansion by 2030.

SCOPE OF STUDY:

The report analyzes the CNG, RNG and Hydrogen Tanks market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Material Type (Metal Tanks, Glass Fiber Tanks, Carbon Fiber Tanks); Tank Type (Type 1 Tanks, Type 2 Tanks, Type 3 Tanks, Type 4 Tanks); Gas Type (CNG Tanks, RNG Tanks, Hydrogen Gas Tanks); Application (Fuel Tank Application, Transportation Tank Application)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 34 Featured) -

• Agility Fuel Solutions
• Avanco Group
• Beijing Tianhai Industry Co. Ltd.
• CIMC Enric Holdings Limited
• Doosan Mobility Innovation Co. Ltd.
• Everest Kanto Cylinders Ltd.
• Faber Industrie SpA
• FIBA Technologies Inc.
• Hexagon Composites ASA
• Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
• Luxfer Group
• NPROXX B.V.
• Praxair Technologies Inc.
• Quantum Fuel Systems LLC
• Rama Cylinders Private Limited
• Sahuwala Cylinders Ltd.
• Steelhead Composites Inc.
• Ullit SA
• Worthington Industries, Inc.
• Xinyi Beijing Tianhai Industry Co. Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

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APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

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Reciprocal and Bilateral Trade & Tariff Impact Analyses:

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JAPAN
INDIA
176 OTHER COUNTRIES.

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