According to our latest study on "Type IV Compressed Gas Tank Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Offering, Technology, Application, Facility Type," 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. As countries across the region, particularly China, Japan, South Korea, and India, work toward reducing their carbon emissions and dependence on fossil fuels, the demand for advanced fuel storage solutions, such as Type IV tanks, is rising. These tanks are increasingly used in hydrogen fuel cell vehicles, natural gas vehicles (NGVs), and stationary energy storage systems. In May 2023, Chinas State Power Investment Corporation (SPIC) pledged a significant investment in hydrogen and fuel cell vehicle technologies. Over the next years, it has committed to deploying fuel cell systems, supporting the hydrogen mobility chain. Chinas governments commitment to reducing carbon emissions has led to strong policy support for hydrogen and natural gas-based transportation systems. In 2023, the Changzhou Hydrogen Bay industrial zone (in Jiangsu) was formally launched to build a full hydrogen energy industrial chain (production, storage, transport). It brought in multiple hydrogen-related projects with over 1.315?billion yuan in investment. In April 2025, Air Liquide launched Chinas first 300-bar hydrogen filling center in Shanghai, capable of refueling over 1,000 medium- to heavy-duty trucks per day. This push into higher-pressure hydrogen refuelling supports the need for advanced high-pressure tanks. Further, heavy investments in fuel cell electric vehicles (FCEVs), especially buses and commercial trucks, boost the demand for lightweight and high-pressure gas tanks

Governments in the region are investing heavily in hydrogen infrastructure and promoting the use of hydrogen-powered transportation. This trend is creating a strong demand for Type IV tanks, which are ideal for high-pressure hydrogen storage due to their composite structure. The commercial transportation sector in the region is undergoing a transition, with logistics and fleet companies adopting CNG and hydrogen-powered trucks and buses to comply with stricter emissions regulations, boosting the adoption of Type IV tanks. In May 2024, SK EandS, based in South Korea, completed the worlds largest liquefied hydrogen plant in Incheon, with a capacity to produce 30,000 tons of hydrogen annually. The company also began planning refueling station networks and hydrogen mobility infrastructure. In May 2025, Sinopec established a 5 billion yuan (approximately US$ 690 million) venture capital fund targeting the hydrogen value chain, including core equipment, materials, and proprietary technologies. The company has built 11 hydrogen supply centers and 144 refueling stations nationwide, expanding infrastructure that will depend on high?performance composite tanks.

The rapid industrialization and urbanization across emerging economies are increasing energy consumption and prompting a shift to cleaner, more efficient energy solutions. Technological advancements and local manufacturing capabilities in countries such as China and South Korea are reducing production costs and improving supply chain efficiency for composite pressure vessels. These developments are making Type IV tanks more accessible and economically viable for a wider range of applications. As sustainability becomes a regional priority, APAC is poised to remain a significant growth hub for Type IV compressed gas tanks over the coming years.

Key Findings of Type IV Compressed Gas Tank Market Study:

The type IV compressed gas tank market is segmented into gas type, capacity, material type, and application. Based on gas type, the global type IV compressed gas tank market is segmented into Hydrogen, CNG, Nitrogen, RNG, and Others. The hydrogen segment held the largest share of the type IV compressed gas tank market in 2024. Capacity is segmented into Less than 100, 100-250 and More than 250. The 100-250 segment held the largest share of the type IV compressed gas tank market in 2024. By geography, the type IV compressed gas tank market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.

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 in the type IV compressed gas tank market report. Several other major players were studied and analyzed during the type IV compressed gas tank market analysis to get a holistic view of the market and its ecosystem. The type IV compressed gas tank market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current type IV compressed gas tank market trends and their foreseeable impact during the forecast period.

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