Type IV Compressed Gas Tank Market Size & Growth Drivers by 2031

The type IV compressed gas tank market size is expected to reach US$ 8.36 billion by 2031 from US$ 3.39 billion in 2024. The market is anticipated to register a CAGR of 14.09% during 2025–2031.

Type IV Compressed Gas Tank Market Analysis

The Type IV compressed gas tank market is experiencing significant growth, driven by increasing demand for lightweight, high-pressure storage solutions across hydrogen, CNG, and industrial applications.

Type IV Compressed Gas Tank Market Overview

The Type IV compressed gas tanks market is expanding, owing to rising hydrogen use as a clean energy source and lightweight storage requirements in transportation and industrial uses. Type IV composite pressure vessels made of carbon fiber composites are very strong, lightweight weight and resistant to corrosion. They are ideal for storing gas under high pressures.

Type IV Compressed Gas Tank Market: Strategic Insights

Type IV Compressed Gas Tank Market Drivers and Opportunities

Market Drivers:

• Increased Demand from Aerospace and Defense: The lightweight and high-strength design of Type IV compressed gas tanks makes them perfect for aerospace and defense utilization.
• Increased Consumption for Hydrogen Fuel and Energy Storage: Since industries are transitioning to clean energy technologies, Type IV tanks are being widely used to store hydrogen for fuel cell vehicles and renewable energy applications.
• Increased Demand due to Environment Regulations: Governments are promoting lightweight, fuel-efficient, low-emission technologies, which is increasing Demand for Type IV tanks in automotive and industrial applications.
• Advances in Composite Materials: Continuous innovation in carbon fiber and polymer linings is enhancing the performance, safety, and durability of Type IV tanks, which are leading to increased consumption.

Market Opportunities:

• Growth Potential in Electric and Hydrogen Fuel Cell Vehicles: The growing production and sales of hydrogen fuel cell vehicles and electric vehicles with compressed gas storage systems create incredible growth potential. 
• Industrial Applications: Rapid industrialization in developing markets, such as manufacturing and chemical processing, is creating demand for lightweight, high-pressure gas storage. 
• Hydrogen Refueling Infrastructure Development: Growing hydrogen refueling station infrastructure development is creating opportunities for Type IV tanks in hydrogen storage and transport. 
• Technology Partnerships and Collaborations: Collaborations between tank manufacturers, automotive original equipment manufacturers, and energy firms will

  help accelerate adoption in the emerging clean energy and mobility space.

Type IV Compressed Gas Tank Market Report Segmentation Analysis

The type IV compressed gas tank market is categorized into distinct segments to understand its structure, growth prospects, and emerging trends. Below is the standard segmentation approach used in industry reports:

By Gas Type:

• Hydrogen: Hydrogen is emerging as a critical gas type in the Type IV compressed gas tank market due to its growing adoption as a clean and sustainable energy source.
• CNG: CNG is widely used as a cleaner alternative to gasoline and diesel, particularly in commercial fleets, public transit buses, and light-duty vehicles.
• Nitrogen: Type IV compressed gas tanks for nitrogen provide lightweight, corrosion-resistant, high-pressure storage ideal for portable and stationary nitrogen systems.
• RNC: It is gaining traction as a sustainable and carbon-neutral alternative to fossil-based natural gas.
• Other: Includes emerging or less common gases such as oxygen, argon, helium, and specialty gases for medical, aerospace, and industrial uses.

By Capacity:

• Less than 100: It caters primarily to applications requiring lightweight and compact compressed gas storage solutions.
• 100-250: It represents a middle ground, balancing storage volume and portability.
• More than 250: It is tailored for large-scale industrial, commercial, and vehicular applications requiring substantial compressed gas storage.

By Material Type:

• Carbon Fiber
• Glass Fiber
• Others

By Application:

• Automotive and Transportation
• Industrial
• Others

By Geography:

• North America
• Europe
• Asia Pacific
• South & Central America
• Middle East & Africa

The regional trends and factors influencing the Type IV Compressed Gas Tank Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Type IV Compressed Gas Tank Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Type IV Compressed Gas Tank Market Report Scope

Type IV Compressed Gas Tank Market Players Density: Understanding Its Impact on Business Dynamics

The Type IV Compressed Gas Tank Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Type IV Compressed Gas Tank Market Share Analysis by Geography

The demand for Type IV compressed gas tanks in Asia Pacific is rapidly growing due to the increasing prevalence of respiratory diseases, awareness of healthcare, an increasing elderly population, and favorable government support. Additionally, South & Central America and the Middle East and Africa present significant untapped opportunities to create new pathways for healthcare providers to improve access to progressive medical treatment and improve patient outcomes.

The type IV compressed gas tank market growth differs in each region due to differences in industrial development, clean energy adoption, and government policies. Below is a summary of market share and trends by region:

1. North America

• Market Share: Has a substantial share of the global market
• Key Drivers:

• • Increasing investments in hydrogen mobility infrastructure and government incentives for zero-emission vehicles are fueling demand for Type IV tanks.
  • Strong presence of leading manufacturers
  • Supportive regulatory environment
• Trends: Expansion of hydrogen refueling infrastructure

2. Europe

• Market Share: Has a significant portion of the global type IV compressed gas tank market
• Key Drivers:

• • Europe’s aggressive decarbonization policies and CO₂ emission regulations are driving demand for hydrogen fuel cells and natural gas vehicles using lightweight Type IV tanks.
  • Strong regulatory and policy framework
  • Advanced composite manufacturing capabilities.
• Trends: Growing partnerships between automakers and composite manufacturers.

3. Asia Pacific

• Market Share: Fastest-growing region with dominant market share
• Key Drivers:

• Increasing production and sales of hydrogen and natural gas-powered vehicles drive strong demand for lightweight, high-performance Type IV tanks.
• Government initiatives for clean energy transition
• Expanding industrial and energy applications

Trends:

4. Middle East and Africa

• Market Share: Although small, it is growing quickly
• Key Drivers:

• Countries such as Saudi Arabia and the UAE are investing in hydrogen and clean fuel projects, increasing the demand for composite cylinders.
• Industrial Expansion
• Infrastructure Development.

• Trends: Focus on Safety and Efficiency.

5. South & Central America

• Market Share: Growing market with steady progress
• Key Drivers:
  • The growing demand for compressed natural gas (CNG) and liquefied petroleum gas (LPG) in residential, commercial, and industrial applications is propelling the adoption of Type IV composite cylinders.
  • Regulatory Support:
  • Infrastructure Development

• Trends: Adoption of Lightweight Materials.

Type IV Compressed Gas Tank Market Players Density: Understanding Its Impact on Business Dynamics

High Market Density and Competition

Competition is intense due to the presence of major global players such as Hexagon Composites ASA, Luxfer Holdings PLC, Quantum Fuel Systems, Faber Industrie SpA, Everest Kanto Cylinder Ltd, Dragerwerk AG & Co KGaA, CIMC Enric Holdings Ltd, Time Technoplast Ltd, NPROXX B.V

This high level of competition urges companies to stand out by offering:

• Smart Monitoring Systems.
• Efficient Manufacturing
• High durability and performance
• Innovative design and technology integration

Opportunities and Strategic Moves

• Implementing IoT solutions allows real-time monitoring of cylinder performance, enabling predictive maintenance and enhancing overall operational efficiency.
• Growing focus on recyclable and bio-based composite materials is driving interest in sustainable storage solutions.

Disclaimer: The companies listed above are not ranked in any particular order.

Other companies analyzed during the course of research:

1. Plastic Omnium
2. Worthington Industries, Inc.
3. NPROXX
4. Quantum Fuel Systems LLC
5. Faber Industrie S.p.A.
6. CIMC Enric Holdings Limited
7. Doosan Mobility Innovation
8. Iljin Composites
9. Avanco Group
10. Ullit S.A.
11. Toyota Motor Corporation
12. Faurecia (a FORVIA company)
13. Mahytec Sarl

Type IV Compressed Gas Tank Market News and Recent Developments

• Dräger announced its participation in the São Paulo Congress, Apr 2025: Dräger announced the demonstration of Vista 300 at COPA SAESP 2025. Dräger announced its participation in the São Paulo Congress of Anesthesiology (COPA SAESP 2025), where it would demonstrate its latest innovation in patient monitoring: the Vista 300.
• Quantum Fuel Systems (Quantum) launched its next-generation CNG Back-of-Cab Fuel Storage System, Apr 2025: Quantum Fuel Systems (Quantum), a vertically-integrated leader in gaseous energy storage systems, launched its next-generation CNG Back-of-Cab Fuel Storage System—Q-Cab 190—at the Advanced Clean Transportation (ACT) Expo from April 28 – May 1, 2025. Engineered for heavy-duty trucks, Q-Cab 190 achieves a capacity of 190 DGE (diesel gallon equivalent).

Type IV Compressed Gas Tank Market Report Coverage and Deliverables

The "Type IV Compressed Gas Tank Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Type IV Compressed Gas Tank Market size and forecast at global, regional, and country levels for key market segments covered under the scope
• Type IV Compressed Gas Tank Market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Real-time Location Systems Market For Healthcare analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the type IV compressed gas tank market
• Detailed company profiles