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Type 3 DOT Hydrogen Cylinder Market Growth & Forecast [2030]

Global Type 3 DOT Hydrogen Cylinder Market

Name: Growth Market Reports
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Segments - by Capacities (Below 100 L, Between 101-200 L, Between 201-300 L, and More than 300 L), Liner Types (Steel, Aluminium, and Others), Pressure Levels (300-500 bar and more than 500 bar), End-use Industries (Transportation, Industrial Gas & Storage, and Others), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Report ID: EP-1590
Author: Growth Market Reports

Rating: 4.5
Total Reviews: 68

No. Of Pages: 293
Format:

Pub. Date: 12-02-2021
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Report Description

Hydrogen Cylinder Market Outlook:

The global type 3 DOT hydrogen cylinder market was valued at USD 60,421.5 thousand in 2020, and is projected to reach USD 1,18,512.5 thousand by 2028, expanding at a CAGR of 9.8% during the forecast period. Significant focus on key players for development of innovative products is boosting the sales of the global Type 3 DOT Hydrogen Cylinder market.

A type 3 DOT hydrogen cylinder is made from composite material, fiberglass/aramid or carbon fiber with a metal liner of aluminum, steel, or others and is certified under DOT (Department of Transportation). Increasing demand from numerous end-user industries such as industrial gas & storage, automotive, and power coupled with the growing emphasis on hydrogen across the globe is expected to register growth opportunities for the market during the forecast period.

Hydrogen Cylinder Market Dynamics

Growing demand for electricity is anticipated to bolster the demand for fuel cells. These fuel cells primarily use hydrogen for producing electricity. The Paris Agreement, an international treaty to tackle climate change, was signed by more than 195 countries. Nations all over the world are aiming to cut down their carbon emissions and increase investments in clean sources of fuel such as hydrogen.

Moreover, fuel cells have a wide area of applications across multiple sectors such as commercial buildings, industrial buildings, residential buildings, and long-term energy storage for grid in reversible systems. Investments in research activities are being made for cutting down the costs of manufacturing fuel cells such as the alliance of the two companies, Bosch and PowerCell Sweden. This is expected to bolster the growth of the type 3 DOT hydrogen cylinders market, as fuel cells are one of the applications of these cylinders.

Type 3 hydrogen cylinders have hydrogen capacities four times that of type 1 and type 2 hydrogen cylinders. Moreover, they are light in weight, which makes them suitable for lightweight automotive applications that are highly emphasized upon by several governments of various nations. Moreover, type 3 hydrogen vessels do not leave any potential for electrostatic discharge caused by corona discharge or during gas pressure cycles, which gives it an edge over type 4 hydrogen cylinders.

Type 3 hydrogen cylinders have a metal liner, which gives them great thermal conductivity, allowing for more efficient fills and a safer failure mode than a type 4 hydrogen cylinder. These benefits associated with type 3 hydrogen cylinders are anticipated to drive the global type 3 DOT hydrogen cylinders market during the forecast period.

One of the applications of type 3 hydrogen cylinders is fuel cells. While the demand for these fuel cells is on the rise, high costs associated with their production is one of the restraints of the market. Moreover, as of now there is a major deficit in terms of hydrogen infrastructure for production, storage, and transportation. These factors in combination are restraining the growth of market.

Currently the drones industry is on a fast-paced track for growth in countries such as the US, Germany, Japan, and the UK. Hydrogen is commonly used to power drones. Unmanned aerial vehicle uses hydrogen fuel cells and typically have a hydrogen tank attached to it, typically a type 3 one. These drones have multiple applications such as delivery of medicines, food, commercial aerial surveillance, disaster relief, and others. This positive trend of the drones is expected to propel the growth of the Type 3 DOT Hydrogen Cylinder market during the forecast timeline.

Hydrogen Cylinder Segmental Outlook

By Capacities

In terms of capacities, the global type 3 DOT hydrogen cylinder market is segmented into below 100 L, between 101-200 L, between 201-300 L, and more than 300 L. The between 201-200 L segment holds a significant share of the market, due to high usage associated with the product in this range. The more than 300 L segment is expected to register growth opportunities, due to increasing industries inclining towards high capacity hydrogen cylinders.

By Liner Types

In terms of liner types, the global type 3 DOT hydrogen cylinder market is segregated into aluminum, steel, and others. Strength and durability associated with aluminum liners support significant share of the segment. Low cost associated with steel supports the significant growth of the segment in the global market. Moreover, increasing R&D pertaining to manufacture of Type 3 DOT Hydrogen Cylinders based on other types of liners is registering growth opportunities for the others segment.

By Pressure Levels

Based on pressure levels, the global type 3 DOT hydrogen cylinder market is classified into between 300 - 500 bar and more than 500 Bar. The more than 500 bar segment holds a significant share of the market, due to increasing preference of customers for compact cylinders in industries.

By End-use Industries

Based on End-use industries, the global Type 3 DOT hydrogen cylinder market is divided transportation, industrial gas and storage, and others. The industrial gas and storage segment holds a significant share of the market due to high demand of hydrogen in multiple industries. Moreover, increasing research & development pertaining to use of hydrogen cylinders in various new vehicles such as drones for transportation of passengers, is expected to boost the growth of transportation segment during the forecast period.

On the other hand, increasing application of type 3 DOT hydrogen cylinders in other industries such as security & surveillance, military, and healthcare is expected to register new growth opportunities for the others segment during the forecast period.

Region Wise Outlook

Based on regions, the global Type 3 DOT Hydrogen Cylinder market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds a significant share of the market, due to high regulations in the region pertaining to use of DOT certified hydrogen cylinders and presence of key players in the region.

Asia Pacific is a promising region for the market. In terms of value, the region constituted 13.5% share of the global market in 2020. The market in this region held a significant share in 2020 and is expected to grow in the coming years, owing to rapid consumption of hydrogen in the region. In terms of value, the market in Asia Pacific is projected to expand at a CAGR of 14.8% during the forecast period.

Key Benefits for Industry Participants & Stakeholders

In-Depth Analysis of Type 3 DOT Hydrogen Cylinder Market
Historical, Current and Projected Market Size in Terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Type 3 DOT Hydrogen Cylinder Market Performance

Segments

By Capacities

Below 100 L
Between 101-200 L
Between 201-300 L
More than 300 L

By Liner Types

Aluminum
Steel
Others

By Pressure Levels

Between 300 - 500 Bar
More than 500 Bar

By End-use Industries

Transportation
Industrial Gas & Storage
Others

By Regions

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Players

Worthington Industries
Steelhead Composites, INC.
AMS Composite Cylinders

Competitive Landscape

Key players in the global Type 3 DOT Hydrogen Cylinder market include Worthington Industries, Steelhead Composites, INC., and AMS Composite Cylinders. These companies are considered as key producers of Type 3 DOT Hydrogen Cylinder based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.

Type 3 DOT Hydrogen Cylinder Market by Key Players

Table Of Content

Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Type 3 DOT Hydrogen Cylinder Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Type 3 DOT Hydrogen Cylinder Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Type 3 DOT Hydrogen Cylinder Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Type 3 DOT Hydrogen Cylinder Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Type 3 DOT Hydrogen Cylinder Market Size & Forecast, 2017-2027
      4.5.1 Type 3 DOT Hydrogen Cylinder Market Size and Y-o-Y Growth
      4.5.2 Type 3 DOT Hydrogen Cylinder Market Absolute $ Opportunity
   4.6 Global Type 3 DOT Hydrogen Cylinder Market: Impact Of Key Regulations
Chapter 5 Global Type 3 DOT Hydrogen Cylinder Market Analysis and Forecast By Capacities
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Capacities
      5.1.2 Basis Point Share (BPS) Analysis By Capacities
      5.1.3 Absolute $ Opportunity Assessment By Capacities
   5.2 Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      5.2.1 Below 100 L
      5.2.2 Between 101-200 L
      5.2.3 Between 201-300 L
      5.2.4 More than 300 L
   5.3 Market Attractiveness Analysis By Capacities
Chapter 6 Global Type 3 DOT Hydrogen Cylinder Market Analysis and Forecast By Liner Types
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Liner Types
      6.1.2 Basis Point Share (BPS) Analysis By Liner Types
      6.1.3 Absolute $ Opportunity Assessment By Liner Types
   6.2 Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      6.2.1 Steel
      6.2.2 Aluminum
      6.2.3 Others
   6.3 Market Attractiveness Analysis By Liner Types
Chapter 7 Global Type 3 DOT Hydrogen Cylinder Market Analysis and Forecast By Pressure Levels
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Pressure Levels
      7.1.2 Basis Point Share (BPS) Analysis By Pressure Levels
      7.1.3 Absolute $ Opportunity Assessment By Pressure Levels
   7.2 Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      7.2.1 Between 300-500 Bar
      7.2.2 More than 500 Bar
   7.3 Market Attractiveness Analysis By Pressure Levels
Chapter 8 Global Type 3 DOT Hydrogen Cylinder Market Analysis and Forecast By End-use Industries
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities By End-use Industries
      8.1.2 Basis Point Share (BPS) Analysis By End-use Industries
      8.1.3 Absolute $ Opportunity Assessment By End-use Industries
   8.2 Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      8.2.1 Transportation
      8.2.2 Industrial Gas and Storage
      8.2.3 Others
   8.3 Market Attractiveness Analysis By End-use Industries
Chapter 9 Global Type 3 DOT Hydrogen Cylinder Market Analysis and Forecast by Region
   9.1 Introduction
      9.1.1 Key Market Trends & Growth Opportunities by Region
      9.1.2 Basis Point Share (BPS) Analysis by Region
      9.1.3 Absolute $ Opportunity Assessment by Region
   9.2 Type 3 DOT Hydrogen Cylinder Market Size Forecast by Region
      9.2.1 North America
      9.2.2 Europe
      9.2.3 Asia Pacific
      9.2.4 Latin America
      9.2.5 Middle East & Africa (MEA)
   9.3 Market Attractiveness Analysis by Region
Chapter 10 Coronavirus Disease (COVID-19) Impact
   10.1 Introduction
   10.2 Current & Future Impact Analysis
   10.3 Economic Impact Analysis
   10.4 Government Policies
   10.5 Investment Scenario
Chapter 11 North America Type 3 DOT Hydrogen Cylinder Analysis and Forecast
   11.1 Introduction
   11.2 North America Type 3 DOT Hydrogen Cylinder Market Size Forecast by Country
      11.2.1 U.S.
      11.2.2 Canada
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 North America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      11.6.1 Below 100 L
      11.6.2 Between 101-200 L
      11.6.3 Between 201-300 L
      11.6.4 More than 300 L
   11.7 Basis Point Share (BPS) Analysis By Capacities
   11.8 Absolute $ Opportunity Assessment By Capacities
   11.9 Market Attractiveness Analysis By Capacities
   11.10 North America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      11.10.1 Steel
      11.10.2 Aluminum
      11.10.3 Others
   11.11 Basis Point Share (BPS) Analysis By Liner Types
   11.12 Absolute $ Opportunity Assessment By Liner Types
   11.13 Market Attractiveness Analysis By Liner Types
   11.14 North America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      11.14.1 Between 300-500 Bar
      11.14.2 More than 500 Bar
   11.15 Basis Point Share (BPS) Analysis By Pressure Levels
   11.16 Absolute $ Opportunity Assessment By Pressure Levels
   11.17 Market Attractiveness Analysis By Pressure Levels
   11.18 North America Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      11.18.1 Transportation
      11.18.2 Industrial Gas and Storage
     11.18.3 Others
   11.19 Basis Point Share (BPS) Analysis By End-use Industries
   11.20 Absolute $ Opportunity Assessment By End-use Industries
   11.21 Market Attractiveness Analysis By End-use Industries
Chapter 12 Europe Type 3 DOT Hydrogen Cylinder Analysis and Forecast
   12.1 Introduction
   12.2 Europe Type 3 DOT Hydrogen Cylinder Market Size Forecast by Country
      12.2.1 Germany
      12.2.2 France
      12.2.3 Italy
      12.2.4 U.K.
      12.2.5 Spain
      12.2.6 Russia
      12.2.7 Rest of Europe
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Europe Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      12.6.1 Below 100 L
      12.6.2 Between 101-200 L
      12.6.3 Between 201-300 L
      12.6.4 More than 300 L
   12.7 Basis Point Share (BPS) Analysis By Capacities
   12.8 Absolute $ Opportunity Assessment By Capacities
   12.9 Market Attractiveness Analysis By Capacities
   12.10 Europe Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      12.10.1 Steel
      12.10.2 Aluminum
      12.10.3 Others
   12.11 Basis Point Share (BPS) Analysis By Liner Types
   12.12 Absolute $ Opportunity Assessment By Liner Types
   12.13 Market Attractiveness Analysis By Liner Types
   12.14 Europe Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      12.14.1 Between 300-500 Bar
      12.14.2 More than 500 Bar
   12.15 Basis Point Share (BPS) Analysis By Pressure Levels
   12.16 Absolute $ Opportunity Assessment By Pressure Levels
   12.17 Market Attractiveness Analysis By Pressure Levels
   12.18 Europe Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      12.18.1 Transportation
      12.18.2 Industrial Gas and Storage
      12.18.3 Others
   12.19 Basis Point Share (BPS) Analysis By End-use Industries
   12.20 Absolute $ Opportunity Assessment By End-use Industries
   12.21 Market Attractiveness Analysis By End-use Industries
Chapter 13 Asia Pacific Type 3 DOT Hydrogen Cylinder Analysis and Forecast
   13.1 Introduction
   13.2 Asia Pacific Type 3 DOT Hydrogen Cylinder Market Size Forecast by Country
      13.2.1 China
      13.2.2 Japan
      13.2.3 South Korea
      13.2.4 India
      13.2.5 Australia
      13.2.6 South East Asia (SEA)
      13.2.7 Rest of Asia Pacific (APAC)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Asia Pacific Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      13.6.1 Below 100 L
      13.6.2 Between 101-200 L
      13.6.3 Between 201-300 L
      13.6.4 More than 300 L
   13.7 Basis Point Share (BPS) Analysis By Capacities
   13.8 Absolute $ Opportunity Assessment By Capacities
   13.9 Market Attractiveness Analysis By Capacities
   13.10 Asia Pacific Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      13.10.1 Steel
      13.10.2 Aluminum
      13.10.3 Others
   13.11 Basis Point Share (BPS) Analysis By Liner Types
   13.12 Absolute $ Opportunity Assessment By Liner Types
   13.13 Market Attractiveness Analysis By Liner Types
   13.14 Asia Pacific Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      13.14.1 Between 300-500 Bar
      13.14.2 More than 500 Bar
   13.15 Basis Point Share (BPS) Analysis By Pressure Levels
   13.16 Absolute $ Opportunity Assessment By Pressure Levels
   13.17 Market Attractiveness Analysis By Pressure Levels
   13.18 Asia Pacific Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      13.18.1 Transportation
      13.18.2 Industrial Gas and Storage
      13.18.3 Others
   13.19 Basis Point Share (BPS) Analysis By End-use Industries
   13.20 Absolute $ Opportunity Assessment By End-use Industries
   13.21 Market Attractiveness Analysis By End-use Industries
Chapter 14 Latin America Type 3 DOT Hydrogen Cylinder Analysis and Forecast
   14.1 Introduction
   14.2 Latin America Type 3 DOT Hydrogen Cylinder Market Size Forecast by Country
      14.2.1 Brazil
      14.2.2 Mexico
      14.2.3 Rest of Latin America (LATAM)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Latin America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      14.6.1 Below 100 L
      14.6.2 Between 101-200 L
      14.6.3 Between 201-300 L
      14.6.4 More than 300 L
   14.7 Basis Point Share (BPS) Analysis By Capacities
   14.8 Absolute $ Opportunity Assessment By Capacities
   14.9 Market Attractiveness Analysis By Capacities
   14.10 Latin America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      14.10.1 Steel
      14.10.2 Aluminum
      14.10.3 Others
   14.11 Basis Point Share (BPS) Analysis By Liner Types
   14.12 Absolute $ Opportunity Assessment By Liner Types
   14.13 Market Attractiveness Analysis By Liner Types
   14.14 Latin America Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      14.14.1 Between 300-500 Bar
      14.14.2 More than 500 Bar
   14.15 Basis Point Share (BPS) Analysis By Pressure Levels
   14.16 Absolute $ Opportunity Assessment By Pressure Levels
   14.17 Market Attractiveness Analysis By Pressure Levels
   14.18 Latin America Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      14.18.1 Transportation
      14.18.2 Industrial Gas and Storage
      14.18.3 Others
   14.19 Basis Point Share (BPS) Analysis By End-use Industries
   14.20 Absolute $ Opportunity Assessment By End-use Industries
   14.21 Market Attractiveness Analysis By End-use Industries
Chapter 15 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Analysis and Forecast
   15.1 Introduction
   15.2 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Market Size Forecast by Country
      15.2.1 Saudi Arabia
      15.2.2 South Africa
      15.2.3 UAE
      15.2.4 Rest of Middle East & Africa (MEA)
   15.3 Basis Point Share (BPS) Analysis by Country
   15.4 Absolute $ Opportunity Assessment by Country
   15.5 Market Attractiveness Analysis by Country
   15.6 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Market Size Forecast By Capacities
      15.6.1 Below 100 L
      15.6.2 Between 101-200 L
      15.6.3 Between 201-300 L
      15.6.4 More than 300 L
   15.7 Basis Point Share (BPS) Analysis By Capacities
   15.8 Absolute $ Opportunity Assessment By Capacities
   15.9 Market Attractiveness Analysis By Capacities
   15.10 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Market Size Forecast By Liner Types
      15.10.1 Steel
      15.10.2 Aluminum
      15.10.3 Others
   15.11 Basis Point Share (BPS) Analysis By Liner Types
   15.12 Absolute $ Opportunity Assessment By Liner Types
   15.13 Market Attractiveness Analysis By Liner Types
   15.14 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Market Size Forecast By Pressure Levels
      15.14.1 Between 300-500 Bar
      15.14.2 More than 500 Bar
   15.15 Basis Point Share (BPS) Analysis By Pressure Levels
   15.16 Absolute $ Opportunity Assessment By Pressure Levels
   15.17 Market Attractiveness Analysis By Pressure Levels
   15.18 Middle East & Africa (MEA) Type 3 DOT Hydrogen Cylinder Market Size Forecast By End-use Industries
      15.18.1 Transportation
      15.18.2 Industrial Gas and Storage
      15.18.3 Others
   15.19 Basis Point Share (BPS) Analysis By End-use Industries
   15.20 Absolute $ Opportunity Assessment By End-use Industries
   15.21 Market Attractiveness Analysis By End-use Industries
Chapter 16 Competition Landscape
   16.1 Type 3 DOT Hydrogen Cylinder Market: Competitive Dashboard
   16.2 Global Type 3 DOT Hydrogen Cylinder Market: Market Share Analysis, 2020
   16.3 Company Profiles (Details - Overview, Financials, Developments, Strategy)
      16.3.1 Worthington Industries
      16.3.2 Steelhead Composites, INC
      16.3.3 AMS Composite Cylinders

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