Hydrogen is emerging as an energy carrier to better manage and store excess electricity generated through sustainable solar and wind systems. The development of hydrogen fuel cells for mobility applications is gaining traction, and with the various public and private sector initiatives to propel hydrogen mobility come immense growth opportunities for fuel cell trucks. Incentives are available for fleets, especially during the initial transition period, to offset high vehicle prices, infrastructure installation, and hydrogen costs.
One of the major challenges in promoting fuel cell trucks is onboard hydrogen storage, especially in high quantity for long-haul transport. Unlike diesel tanks, hydrogen tanks need to maintain a specific pressure for supply to the fuel cell stacks. Hydrogen is generally stored in the gaseous state at either 350 bar or 750 bar, and in liquid state at cryogenic temperature of -253°C. Manufacturers of hydrogen storage tanks traditionally supply products for stationary and aerospace use, but some companies are aggressively establishing themselves with options to suit different vehicle platforms.
Carbon composite is the prevalent material used for lightweight, high-strength hydrogen storage tanks. Companies with expertise in materials and the manufacture of carbon composites are exploring hydrogen mobility business opportunities.
Europe is aggressively pursuing hydrogen vehicles as a solution for carbon neutrality. Hydrogen Europe, a consortium of 62 heavy trucking stakeholders, has pledged to deploy up to 100,000 heavy-duty trucks beginning in 2030. Leading manufacturers in Europe have announced plans for fuel cell truck development, so hydrogen tank manufacturers have significant business opportunities in the tank supply value chain. Technological leadership, financial prowess, and a robust supply chain are essential for these companies to be competitive.
The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in an industry and benchmarks them across 10 criteria on the
Frost Radar™, where the leading companies in the industry are then positioned.
Author: Jagadesh Chandran

Strategic Imperative
Strategic Imperative (continued)
Growth Environment
Frost Radar™: European Hydrogen Fuel Tank Manufacturers for Commercial Vehicles
Frost Radar™: Competitive Environment
Faber Industrie SpA
Faurecia
Hexagon Composites ASA
Luxfer Holdings
NPROXX
Plastic Omnium
Worthington Industries
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Frost Radar™: Benchmarking Future Growth Potential
Frost Radar™: Benchmarking Future Growth Potential
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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| Deliverable Type | Frost Radar |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Jagadesh Chandran |
| Industries | Automotive |
| WIP Number | PC8C-01-00-00-00 |
| Keyword 1 | hydrogen fuel vehicles |
| Keyword 2 | hydrogen fuel cell vehicles |
| Keyword 3 | hydrogen fuel cell trucks |
| Is Prebook | No |
| GPS Codes | 9800-A6,9807-A6,9B01-A6,9963-A6,9882-A6 |
Frost Radar™: European Manufacturers of Hydrogen Fuel Tanks for Commercial Vehicles, 2021
A Benchmarking System to Spark Companies to Action—Innovation that Fuels New Deal Flow and Growth Pipelines
23-Nov-2021
Europe
Frost Radar
