Hydrogen fuel cell vehicles have become an important development direction of new energy vehicles due to their high energy conversion efficiency and pollution-free characteristics. Gas cylinder for hydrogen storage is one of the key components of hydrogen fuel cell vehicle. So far, lined composite gas cylinders have been widely used due to their good leakage-proof capability for hydrogen. With the demand for lightweight and high hydrogen storage density for on-board application, linerless composite gas cylinder (Type V cylinder) for hydrogen storage has drawn more and more attention. This paper analyzed the advantages, application status and development trend of Type V gas cylinder for hydrogen storage towards the direction of high-pressure, lightweight, low-cost and long-life. Based on the reports of existing Type V gas cylinder and other relevant linerless composite pressure equipment, challenges in developing Type V gas cylinder for hydrogen storage were summarized, including composite material selection, design and manufacture procedure. Meanwhile, in view of higher safety requirements for on-board hydrogen storage, this paper further discussed safety assurance methods for qualification tests, damage detection techniques and relevant standards.