Hydrogen can be physically stored either as a gas or as a liquid. Gaseous hydrogen is stored in high pressure hydrogen storage tanks at working pressure of 35 MPa or 70 MPa. Carbon fiber composite hydrogen storage tanks, including Type III and IV cylinders, are manufactured with carbon fiber. Type III cylinders are metal lined (aluminum or steel) and a full composite package, while Type IV cylinders are hydrogen storage tanks made from a complete carbon fiber material lined with polyamide or polyethylene plastic.
As global CO2 emissions from the transport sector and other applications grow rapidly, economies around the world are actively enforcing stringent environmental standards and regulations. The transport sector contributes a quarter of anthropogenic CO2 emissions. The introduction of electric vehicles comes as people turn to alternative technologies that rely less on fossil fuels as living conditions get tougher.
Electric transportation is revolutionizing the automobile industry. Pure electric vehicles, hybrid electric vehicles, hydrogen fuel cell vehicles, are trying to win the favor of customers. Over the life cycle of the vehicle, fuel-cell vehicles can reduce CO2 emissions by 30 percent compared to conventional gasoline vehicles because they do not require large batteries, the production of which is an energy and resource-intensive industry. For hydrogen storage, manufacturers of hydrogen fuel cell vehicles prefer composite pressure vessels.
- Influences of COVID -19
Hydrogen fuel cell vehicles account for less than 1% of the 7 million electric vehicles produced worldwide in 2019, but the market for hydrogen vehicles is growing exponentially. However, in 2020, due to the impact of the COVID-19 pandemic, although the market tries every means to avoid losses, the market growth trend is greatly reduced. Since 2021, the market has shown an accelerating trend, with professionals predicting that the market will reach an unprecedented $3 billion by 2026.
Class Analysis
- Market share by application type
Depending on the type of application, the hydrogen energy market can be subdivided into transportation, gas storage & distribution, etc. Driven by the most popular hydrogen fuel cell vehicles, the transportation sector held an unshakable market position throughout our study period. The Toyota Mirai, Hyundai Nexo and Honda Clarity are the leading hydrogen fuel cell vehicles on the global market. Despite the COVID-19 pandemic, Hexagon Composites ASA, ILJIN Composites, Plastic Omnium and Luxfer Holdings PLC are among the companies that have gained market share in the composite hydrogen storage tank market.
- Order market share is divided by hydrogen storage tank type
Based on the type of hydrogen storage tank, we have divided the market into Type III and IV tanks. Type IV cylinders are expected to remain dominant through 2026, while Type III cylinders are expected to grow at an even faster rate over the next five years. The main markets for type IV cylinders are Japan and Korea. The main market for Type III cylinders is China. The main benefits of Type IV cylinders are: reduced weight, corrosion free, fatigue resistance, high storage density, and low cost of ownership.
- By region
In 2020, market growth around the world did not decline, but there was a slowdown. The Asia-Pacific region is expected to maintain its market dominance until 2026, while Europe is likely to experience the highest market growth within the forecast period. The world's three largest hydrogen fuel cell vehicles are all manufactured in the Asia-Pacific region. China, the world's largest truck maker, is focusing on hydrogen fuel cell heavy trucks. In Europe a number of policies and investments have been made to lay the foundation for high growth in the years ahead.
The article source: International New Energy Network
Post time: Jun-04-2021