Detroit, April 12, 2025 — The global automotive pressure vessels market is projected to reach USD 6.9 billion by 2031, expanding at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031, according to new insights from Stratview Research.
As automakers shift toward cleaner fuel alternatives such as hydrogen and compressed natural gas (CNG), demand for high-performance, lightweight pressure vessels is accelerating worldwide.
Contents
Key Market Highlights
| Metric | Detail |
|---|---|
| Market Size (2031) | USD 6.9 Billion |
| CAGR (2024–2031) | 7.5% |
| Segments Covered | 4 |
| Country-Level Insights | 20+ |
| Charts and Tables | 100+ |
Stratview Research’s latest report offers in-depth insights into emerging trends, market segmentation, regional forecasts, and the competitive landscape of the automotive pressure vessels market.
Segment Insights: Growth Drivers by Type and Vehicle Category
By Pressure Vessel Type:
- Type I vessels continue to dominate due to their low cost and durability, widely used in CNG and LNG vehicles, especially across developing regions.
- Type IV vessels, known for their lightweight composite materials and high-pressure capacity, are expected to grow fastest, driven by the expanding hydrogen fuel cell vehicle (FCV) segment.
By Vehicle Type:
- Passenger cars are leading the adoption of pressure vessels, supported by rising fuel prices and stricter emissions standards.
- Fuel cell vehicles represent the fastest-growing segment, as manufacturers invest in cleaner, high-pressure fuel storage technologies.
By Fuel Type:
- Hydrogen emerges as the most promising fuel segment, with its growing use in FCVs and government policies pushing for zero-emission transportation.
- Advancements in high-pressure hydrogen storage and expanding refueling infrastructure are key enablers of growth.
Regional Analysis: Asia-Pacific Leads Global Market
The Asia-Pacific region is forecasted to remain the largest and most dynamic market for automotive pressure vessels through 2031, led by:
- China, India, Japan, and South Korea, all investing heavily in clean fuel infrastructure.
- The region’s dominance in the global natural gas vehicle (NGV) fleet, especially in China and India.
Other Notable Markets:
- Europe: Strong demand for Type I pressure vessels due to established CNG infrastructure.
- North America: Increasing adoption of Type III and Type IV composite vessels, particularly in hydrogen-powered fleets.
Key Growth Drivers
- Rising demand for alternative fuel vehicles, especially those powered by hydrogen and CNG.
- Stricter global emission regulations are pushing automakers toward lightweight, fuel-efficient pressure vessel technologies.
- Material innovations, such as carbon fiber-reinforced polymers, enhance performance while reducing weight.
- Rapid adoption of hydrogen FCVs, particularly in public transport and logistics fleets.
Leading Companies in the Automotive Pressure Vessels Market
Top players identified in the report include:
- Hexagon Composites ASA
- Worthington Industries, Inc.
- Luxfer Holdings PLC
- Cylinders Holding Group
- Everest Kanto Cylinder Ltd.
- Beijing Tianhai Industry Co., Ltd.
- ILJIN Composites Co., Ltd.
- Quantum Fuel Systems LLC
- Sinoma Science & Technology Co., Ltd.
- CIMC ENRIC Holdings Limited
- Forvia SE
These companies form a robust supply chain across raw materials, manufacturing, and OEM integration for pressure vessel solutions.
Conclusion
The automotive pressure vessels market is poised for strong growth, driven by the clean energy transition and the global push for sustainable mobility. As automakers, governments, and infrastructure providers invest in zero-emission technologies, the demand for advanced fuel storage solutions like Type IV pressure vessels will surge across global markets.
