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CHICAGO, April 11, 2024 /PRNewswire/ -- Hydrogen Storage Tanks and Transportation Market is expected to reach USD 4.4 billion by 2030 from USD 0.3 billion in 2024 at a CAGR of 52.4% during the forecast period according to a new report by MarketsandMarkets™. The global Hydrogen Storage Tanks and Transportation Market is anticipated to grow at a higher level. There are various drivers responsible for the growth of the market such as the government policies and incentives and technological advancements among others. Government policies that encourage renewable energy and reduce carbon emissions, such as subsidies, grants, tax credits, and regulatory frameworks, are critical in encouraging the rise of hydrogen storage tanks and transportation. These incentives promote investment in hydrogen infrastructure, such as storage facilities and transit networks. Continuous improvements in hydrogen storage technologies, such as better tank materials, innovative storage methods (e.g., metal hydrides, chemical hydrogen storage), and improved compression techniques, all help to boost storage capacity, efficiency, and safety. Technological advancements enable the creation of more dependable and cost-effective hydrogen storage technologies, hence propelling market expansion.

With the global market for electrolytic manganese wide open, American Manganese appears well positioned to move into the space with strength.