Liquid Hydrogen Storage Tank Market size was valued at USD 1.2 Billion in 2024 and is projected to reach USD 3.5 Billion by 2033, exhibiting a CAGR of 12.5% from 2026 to 2033.
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South Korea's Liquid Hydrogen Storage Tank Market: Industry Requirements and Growth
South Korea is rapidly advancing its liquid hydrogen storage tank market, driven by the nation's commitment to a hydrogen-based economy. The government's "Hydrogen Economy Roadmap," initiated in 2019, aims to position South Korea as a global leader in hydrogen technology. This includes plans to build 70 liquid hydrogen fueling stations by 2030 and integrate clean hydrogen into 7.1% of the country's energy mix by 2036.
Major South Korean conglomerates are investing heavily in hydrogen infrastructure. For instance, Samsung C&T has developed a design for the world's largest liquefied hydrogen storage tank, with a capacity of 40,000 cubic meters, capable of holding 2,800 tons of liquid hydrogen—sufficient to fuel over 500,000 hydrogen vehicles. This design has received certification from Det Norske Veritas (DNV), underscoring its technical viability.
In the maritime sector, collaborations between companies like Hylium Industries, KRISO, and POSCO have led to the approval of liquid hydrogen fuel tanks made from advanced stainless steel materials. These developments are crucial for integrating hydrogen fuel into shipping and other marine applications.
Furthermore, South Korea's regulatory environment is evolving to support hydrogen storage and transportation. The Ministry of SMEs and Startups, in partnership with Gangwon Province, is demonstrating technologies for liquid hydrogen storage and transport, aiming to establish safety standards and infrastructure to accelerate commercialization.
The market for liquid hydrogen storage tanks is poised for significant growth. As of 2023, the global market was valued at approximately $1.8 billion and is projected to expand at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2030. South Korea's proactive investments and technological advancements position it to capture a substantial share of this expanding market.
In summary, South Korea's liquid hydrogen storage tank market is experiencing robust growth, underpinned by strategic government initiatives, substantial private sector investments, and technological innovations. These efforts are setting the stage for South Korea to emerge as a leader in the global hydrogen economy.
Get an In-Depth Research Analysis of the South Korea Liquid Hydrogen Storage Tank Market Size And Forecast [2025-2032]
Kawasaki
Chart
Chiyoda Coporation
Linde Engineering
Gardner Cryogenics
Hydrogenious Technologies
Cryofab
GUOFUHEE
Hynertech
Changchun Zhiyuan
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Liquid Hydrogen Storage Tank Market
Above Ground Storage Tanks
Below Ground Storage Tanks
Mobile Storage Tanks
Fixed Storage Tanks
Small Capacity Tanks (up to 5000 liters)
Medium Capacity Tanks (5000 to 20,000 liters)
Large Capacity Tanks (above 20,000 liters)
Aerospace
Energy Sector
Automotive
Industrial Applications
Research and Development
Stainless Steel
Aluminum
Carbon Steel
Composite Materials
Vacuum Insulated Storage
Advanced Insulation Technologies
Traditional Storage Technologies
Modular Storage Solutions
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Liquid Hydrogen Storage Tank Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Liquid Hydrogen Storage Tank Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Liquid Hydrogen Storage Tank Market, By Type
6. South Korea Liquid Hydrogen Storage Tank Market, By Application
7. South Korea Liquid Hydrogen Storage Tank Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Liquid Hydrogen Storage Tank Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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