The type IV compressed gas tank market size was valued at US$ 3.39 billion in 2024 and is expected to reach US$ 8.36 billion by 2031; it is estimated to record a CAGR of 14.09% from 2025 to 2031.

The type IV compressed gas tank market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific dominated the market in 2024, followed by North America and Europe, respectively.

Type IV compressed tanks, made primarily from carbon fiber-reinforced polymers, are gaining traction due to their superior strength-to-weight ratio, corrosion resistance, and safety compared to traditional metal-based tanks. The region's strong focus on clean energy and emission reduction targets is influencing the market, especially as governments and industries shift toward alternative fuels such as hydrogen and compressed natural gas (CNG). This transition is especially evident in the transportation sector, where Type IV tanks are adopted for fuel cell electric vehicles (FCEVs), buses, and heavy-duty trucks. In October 2023, the US Government announced a US$ 7 billion funding initiative to support seven regional clean hydrogen hubs under the Bipartisan Infrastructure Law. These hubs intend to build regional hydrogen ecosystems (production, transport, storage, and usage) - strengthening demand for compressed hydrogen storage technologies, including Type IV cylinders.

Type IV compressed tanks market future trend: Type IV compressed gas tanks offer significant weight savings compared to metal tanks (Type I-III), making them attractive in applications such as hydrogen fuel cell vehicles and clean energy infrastructure. Governments are increasingly mandating lower emissions from transport, industrial operations, and energy systems, driving demand for storage systems that support clean fuels such as hydrogen. As these tanks enable more efficient, lighter storage under high pressure, they align well with these regulations.

One example is the EU's regulatory framework for hydrogen-powered vehicles. The previous Regulation (EC) 79/2009 on type-approval of hydrogen vehicles has been replaced (repealed in July 2022) by UN Regulation No. 134, together with Regulation (EU) 2021/535, which imposes stringent safety and material standards for compressed hydrogen storage systems (CHSS). These include requirements for pressure relief systems, material compatibility with hydrogen, and type approval markings for high-pressure containers. Voith Composites has recently achieved UNECE R134 certification for a Type IV hydrogen tank (700 bar, 350 liters), designed for heavy-duty trucks. This result demonstrates compliance with one of the more advanced regulatory benchmarks for safe hydrogen storage in transport vehicles. India's Gas Cylinders Rules (GCR) amendment in 2025 defines updated performance standards for compressed hydrogen gas (CHG) cylinders.

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, and NPROXX B.V. are among the key players profiled during this market study. Several other essential market players were also studied and analyzed to get a holistic view of the global type IV compressed gas tank market and its ecosystem.

The overall type IV compressed gas tank market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the type IV compressed gas tank market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the type IV compressed gas tank market.