Adopting hydrogen as an energy carrier represents an important step towards a more sustainable future in energy production and utilisation on an industrial scale. Owing to the importance of hydrogen as an energy carrier, it is paramount to design and manufacture efficient storage systems that can cope with the chemical properties of hydrogen and can ensure a sustainable utilisation of hydrogen. In this paper the focus is on type IV gaseous hydrogen (H₂) storage tanks covered with a carbon fibre reinforced plastic (CFRP) layer, and in this respect, a life cycle analysis (LCA) modelling in Simapro will be conducted for this type of tank. Afterwards we will perform an LCA sensitivity analysis under the scenarios that the tank’s CFRP layer is replaced, firstly by a glass fibre reinforced plastic (GFRP) layer and, secondly, by a basalt fibre reinforced plastic (BFRP) layer. The results of our LCA for the type IV H₂ storage tank show that, during the life cycle of this tank, the use stage has the biggest climate impact, followed by the manufacturing and disposal stages. The results of our LCA sensitivity analysis reveal the following: CFRP tanks exhibit the highest environmental impact throughout their whole life cycle when compared to GFRP and BFRP tanks because during the manufacturing process, manufacturing of carbon fibres will generate more CO₂ emissions and have more energy demands than glass and basalt fibres. During the life cycle of each type of tank, more non-renewable energy is consumed than renewable energy.