CNG, RNG, and Hydrogen Tanks Market Size By Gas Type (Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG)), By Material Type (Metal, Carbon Fiber, Glass Fiber), and Regional Forecasts, 2023 - 2030

Report Overview

The CNG, RNG, and Hydrogen Tanks Market was valued at 3.16 billion in 2022 and expected to grow at CAGR of 9.6% over forecast period.

The growing demand for clean and sustainable energy solutions in the transportation and industrial sectors is driving the global Compressed Natural Gas (CNG), Renewable Natural Gas (RNG), and Hydrogen Tanks market. Sringent environmental regulations and a push to reduce greenhouse gas emissions have fueled interest in CNG and RNG as low-carbon fuel alternatives, while hydrogen is gaining traction as a versatile energy carrier for fuel cell vehicles and a variety of industrial applications.

Furthermore, government incentives and investments in infrastructure development, advancements in tank technologies to improve storage and safety, and a broader global focus on reducing reliance on fossil fuels all contribute to the market's growth.

Gas Type Outlook

Based on Gas Type, the CNG, RNG, and Hydrogen Tanks Market are segmented into Compressed Natural Gas (CNG), Hydrogen, Renewable Natural Gas (RNG). CNG segment accounted for largest share in 2022. A combination of environmental, economic, and regulatory factors drive the Compressed Natural Gas (CNG) market. CNG is an appealing alternative to conventional fossil fuels, particularly in the transportation sector, as governments and industries seek cleaner and more sustainable energy sources. Increased adoption has resulted from the need to reduce greenhouse gas emissions, lower fuel costs, and achieve energy security.

CNG, RNG, and Hydrogen Tanks Market, By Gas Type, 2022

The Renewable Natural Gas (RNG) market is being driven by a confluence of environmental concerns, renewable energy goals, and regulatory measures. RNG, produced from organic waste sources like landfills, wastewater treatment plants, and agricultural residues, offers a carbon-neutral alternative to traditional natural gas. Governments, corporations, and consumers are increasingly committed to reducing greenhouse gas emissions, making RNG an attractive solution for decarbonizing the energy and transportation sectors. Supportive policies, renewable energy mandates, and financial incentives have facilitated the growth of RNG production and infrastructure, aligning with the broader shift towards sustainable and eco-friendly energy sources, thus propelling the RNG market.

Material Type Outlook

Based on Material Type, CNG, RNG, and Hydrogen Tanks Market is segmented into Metal, Carbon Fiber, Glass Fiber. Metal accounted for largest share in 2022. Metal Compressed Natural Gas (CNG), Renewable Natural Gas (RNG), and Hydrogen Tanks is primarily driven by the growing adoption of alternative fuels and the transition to cleaner energy sources. As the world seeks to reduce carbon emissions and combat climate change, there is increasing demand for the storage and transportation of CNG, RNG, and hydrogen, with metal tanks offering durability and safety in these applications.

Government policies and incentives aimed at promoting sustainable energy solutions, technological advancements in tank design, and the expansion of infrastructure for refueling and distribution are further accelerating the growth of the market. The metal tanks sector is also benefiting from a broader global commitment to decarbonisation and a transition away from fossil fuels, making it a vital component of the emerging clean energy ecosystem.

The global transition to a hydrogen-based economy and the increasing emphasis on clean energy solutions are driving the Hydrogen Tanks market. Because of its potential to decarbonize various sectors, hydrogen is gaining popularity as a versatile energy carrier for fuel cell vehicles, industrial applications, and energy storage.

Regional Outlook

Middle East & Africa is emerged as leading market for CNG, RNG, and Hydrogen Tanks Market in 2022. The Middle East and Africa CNG, RNG, and Hydrogen Tanks market is primarily influenced by a number of factors, including the region's abundant natural gas reserves, a growing emphasis on sustainable energy sources, and a push for energy diversification and security. Middle Eastern countries are using their natural gas resources to promote the use of compressed natural gas (CNG) as a cleaner fuel alternative, while RNG provides opportunities for waste-to-energy conversion. Hydrogen is gaining traction as part of global decarbonization efforts, particularly in the desalination industry and as a potential export commodity.

The market for CNG, RNG, and Hydrogen Tanks in Europe is primarily driven by the continent's strong commitment to sustainability, stringent environmental regulations, and a shift toward cleaner energy sources. CNG is becoming more popular as a low-carbon fuel for transportation and industrial applications, while RNG is critical to circular economy initiatives. Hydrogen is gaining traction as a versatile energy carrier for a variety of industries, particularly in fuel cell vehicles and renewable energy integration.

Robust government support, investments in infrastructure, and collaborative efforts among European nations to reduce greenhouse gas emissions are propelling the growth of these tank markets. Europe's emphasis on reducing fossil fuel dependence, mitigating climate change, and fostering energy security positions CNG, RNG, and hydrogen tanks as essential components in the region's sustainable energy transition.

CNG, RNG, and Hydrogen Tanks Market Report Scope

CNG, RNG, and Hydrogen Tanks Market Segmentation

Gas Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Compressed Natural Gas (CNG)
• Hydrogen
• Renewable Natural Gas (RNG)

Material Type Outlook (Revenue, USD Billion, 2018 - 2030)

• Metal
• Carbon Fiber
• Glass Fiber

CNG, RNG, and Hydrogen Tanks Market, Regional Outlook

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• UK
• Spain
• Russia
• France
• Italy

Asia Pacific

• China
• Japan
• India
• South Korea
• Australia

CSA

• Brazil
• Argentina

MEA

• UAE
• Saudi Arabia
• South Africa