The global gas carrier & storage pressure vessels market is projected to witness a growth rate of 19.6% annually from 2024 to 2031, with an anticipated size of US$ 3.9 billion by 2031, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the global gas carrier & storage pressure vessels market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
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Market Size in 2031 (billion US$) |
3.9 |
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Growth (CAGR) |
19.6% during 2024-2031 |
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Forecast Period |
2024-2031 |
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Trend Period |
2018-2022 |
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Base Year |
2023 |
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Number of Segments Covered |
3 |
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Number of Tables & Graphs |
100+ |
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Country-Level Market Assessment |
20 |
Segment Insights on the Gas Carrier & Storage Pressure Vessels Market:
The global gas carrier & storage pressure vessels market is segmented based on fuel type, pressure vessel type, and region.
Based on fuel type - The market is segmented into CNG, LNG, RNG, hydrogen, and other fuels. Hydrogen is set to dominate market spending and be the fastest-growing segment in the gas carrier and storage pressure vessel market due to its rising role in clean energy, transportation, and industrial applications. Increasing investments in hydrogen storage infrastructure, refueling stations, and transportation networks are driving demand for high-pressure vessels and gas carriers. The expansion of hydrogen-powered vehicles, industrial usage, and large-scale energy storage further accelerates this growth. Advancements in composite pressure vessel technology and cryogenic storage, along with strong government support and funding, are making hydrogen a key player in the future energy landscape.
Based on pressure vessel type - The market is segmented into type I vessel, type II vessel, type III vessel, and type IV vessel. Type IV pressure vessels are expected to dominate the market due to their lightweight design, superior mass efficiency (127% more than Type I), and lower operating costs. Their corrosion resistance extends their lifespan, reducing maintenance expenses. With growing demand for clean energy like hydrogen and RNG, and the expansion of vehicle refueling infrastructure, these vessels provide an efficient and cost-effective solution for gas storage and transportation. Their advantages make them the preferred choice as industries shift toward sustainable energy solutions.
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Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is expected to be the largest and fastest-growing market for gas carriers and storage pressure vessels in the coming years. This growth outlook is majorly attributed to the following–
Gas Carrier & Storage Pressure Vessels Market Drivers:
Some of the key drivers listed in the report are given below.
· Industries are increasingly shifting toward hydrogen and CNG storage solutions as part of the global push for cleaner energy alternatives.
· Stricter emission regulations are driving the need for lightweight, high-pressure storage systems that can help reduce environmental impact
· The growing use of alternative fuels in transportation is boosting demand for efficient and reliable storage options. Innovations in composite materials are also making these systems safer and more durable.
· Furthermore, rising investments in energy storage infrastructure, especially for renewable energy projects and industrial gas applications, are contributing to the expansion of this market.
Top Companies in the Gas Carrier & Storage Pressure Vessels Market:
Stratview Research has identified the following companies as the top market players:
What Deliverables Will You Get in this Report?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Gas Carrier & Storage Pressure Vessels Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional, and country-level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Who are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirements? |
10% free customization |
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
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It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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