According to The Insight Partners' research, the North America Type IV Compressed Gas Tank Market was valued at US$ 955.2 Million in 2024 and is expected to reach US$ 2,315.9 Million by 2031, registering a CAGR of 13.9% from 2025 to 2031.
Stricter emissions and environmental regulations, and higher pressure ratings & improved operational performance are among the critical factors attributed to drive the North America type IV compressed gas tank market.
Type IV compressed gas tanks offer significant weight savings compared to metal tanks (Type I-III), making them attractive in applications such as hydrogen fuel cell vehicles and clean energy infrastructure. Governments are increasingly mandating lower emissions from transport, industrial operations, and energy systems, driving demand for storage systems that support clean fuels such as hydrogen. As these tanks enable more efficient, lighter storage under high pressure, they align well with these regulations.
One example is the EU's regulatory framework for hydrogen-powered vehicles. The previous Regulation (EC) 79/2009 on type-approval of hydrogen vehicles has been replaced (repealed in July 2022) by UN Regulation No. 134, together with Regulation (EU) 2021/535, which imposes stringent safety and material standards for compressed hydrogen storage systems (CHSS). These include requirements for pressure relief systems, material compatibility with hydrogen, and type approval markings for high-pressure containers.
Voith Composites has recently achieved UNECE R134 certification for a Type IV hydrogen tank (700 bar, 350 liters), designed for heavy-duty trucks. This result demonstrates compliance with one of the more advanced regulatory benchmarks for safe hydrogen storage in transport vehicles. India's Gas Cylinders Rules (GCR) amendment in 2025 defines updated performance standards for compressed hydrogen gas (CHG) cylinders. New clauses require conformity with international standards, such as UN R134 or equivalent codes, as well as valve performance under burst-pressure conditions and stricter definitions that distinguish between bulk and non-bulk storage. These changes are intended to ensure safety and reduce leaks and potential emissions.
Stricter emissions and environmental regulations are forcing increased safety, material, certification, and performance demands in compressed gas storage. Type IV tanks are designed to meet or exceed the requirements of newer regulations. As regulations continue to evolve (especially around hydrogen's role in decarbonizing transport and energy), the demand for Type IV tanks is likely to strengthen.
On the contrary, the high cost of materials & manufacturing hampers the growth of the North America type IV compressed gas tank market.
North America Type IV Compressed Gas Tank Market Segmentation Analysis:
- By Gas Type, the North America Type IV Compressed Gas Tank Market is segmented into Hydrogen, CNG, Nitrogen, RNG, and Others. The CNG segment is projected to expand at a CAGR of 13.5% during 2025 - 2031.
- By Capacity, the North America Type IV Compressed Gas Tank Market is segmented into Less than 100, 100-250, and More than 250. The 100-250 segment is projected to expand at a CAGR of 14.3% during 2025 - 2031.
- By Material Type, the North America Type IV Compressed Gas Tank Market is segmented into Carbon Fiber, Glass Fiber, and Others. The Carbon Fiber segment is projected to expand at a CAGR of 14.4% during 2025 - 2031.
- By Application, the North America Type IV Compressed Gas Tank Market is segmented into Automotive and Transportation, Industrial, and Others. The Automotive and Transportation segment is projected to expand at a CAGR of 13.6% during 2025 - 2031.
- By Automotive and Transportation Application, the North America Type IV Compressed Gas Tank Market is segmented into Light Duty, Medium Duty, and Heavy Duty. The Medium Duty segment is projected to expand at a CAGR of 14.0% during 2025 - 2031.
By country, the North America Type IV Compressed Gas Tank Market is categorized into the US, Canada and Mexico. The US is projected to expand at a CAGR of 13.9% during 2025 - 2031.
Key players operating in the Type IV Compressed Gas Tank Market are Dragerwerk AG & Co KGaA, CIMC Enric Holdings Ltd, Hexagon Composites ASA, Time Technoplast Ltd, Quantum Fuel Systems, Luxfer Holdings PLC, Faber Industrie SpA, Everest Kanto Cylinder Ltd, NPROXX B.V., among others.
In April 2025, CIMC-Hexagon, a joint venture company of CIMC Enric Holdings Limited and Hexagon Purus producing hydrogen cylinders and systems solutions for mobility and infrastructure applications in China and Southeast Asia, delivered its first batch of Type IV high-pressure hydrogen cylinders for use in Hexagon Purus' hydrogen distribution modules in Europe. CIMC-Hexagon has obtained European TPED (Transportable Pressure Equipment Directive) certification, allowing for the delivery of hydrogen storage solutions to the European market.
In November 2024, Hexagon Agility, a leading global provider of clean fuel solutions for commercial vehicles and bulk gas transportation, expanded its assembly and installation capacity in Rialto, California. This is in response to the increasing demand for compressed (renewable) natural gas (CNG/RNG) within the heavy-duty truck and refuse segments.
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