Expanding Market Growth for CNG, RNG, and Hydrogen Tanks
Key Ideas
  • The CNG, RNG, and hydrogen tanks market is projected to grow from $2.36 billion in 2024 to $2.62 billion in 2025 with a CAGR of 11.0%, driven by factors like cost competitiveness, energy security concerns, and renewable energy adoption.
  • Anticipated future growth expects the market to reach $3.88 billion by 2029, fueled by green energy regulations, government support, and increased focus on sustainability and climate change.
  • Key market segments include gas type (CNG, hydrogen, RNG), material type (metal, carbon fiber, glass fiber), tank type, and application (fuel tank, transportation tank), each with its subsegments.
  • Leading companies in the market include Worthington Industries Inc., Hexagon Composites ASA, Quantum Fuel Systems LLC, and others, driving innovation and product development in the industry.
The CNG, RNG, And Hydrogen Tanks Market Report by The Business Research Company projects significant growth in the market size from 2025 to 2034. The market has shown substantial progression, with its value increasing from $2.36 billion in 2024 to $2.62 billion in 2025, and a projected growth to $3.88 billion by 2029, fueled by key factors like cost competitiveness, energy security concerns, and a shift towards renewable energy. This growth is driven by various market segments including gas type, material type, tank type, and application, with subsegments adding to the market's diversity. The primary drivers for this market expansion include government initiatives towards green energy, clean fuel adoption, and sustainable energy use. Notable examples include the Russian Government's energy initiatives focusing on clean energy and new nuclear energy. Key market players are spearheading product innovation and technological advancements in tank production, such as Hexagon Agility Inc.'s TITAN 450 modules for CNG/RNG transportation with enhanced capacity and efficiency. Asia-Pacific emerges as a significant revenue-generating region in this market. The future holds promising growth prospects with a focus on environmental regulations, sustainability targets, and advancements in storage technology. The positive sentiment is reflected in the market's anticipation of continuous expansion driven by industry advancements and government support.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2025 AdvanceH2, LLC. All rights reserved.