Data Bridge Market Research analyses that the Hydrogen Energy Storage Market which was USD 17.50 billion in 2022, is expected to reach USD 70.89 billion by 2030, growing at a CAGR of 19.11% during the forecast period of 2023 to 2030.
Industry Analysis
The essential factors contributing to the growth of the hydrogen energy storage market in the forecast period of 2023 to 2020 include the rising sustainable energy services growing is prevailing the need for hydrogen energy storage. Therefore, people are preferring hydrogen storage in place of fossil fuel. The rising use in commercial, industrial, and residential sectors for various applications is significantly contributing to the market’s growth.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Hydrogen energy storage is the system that stores large quantities of hydrogen. The storage is done in solution-mined salt domes, excavated rock caverns, and others. Hydrogen storage has major use in transportation, metalworking, general industrial, chemicals, stationary, and others for the storage of hydrogen. The increasing installation of renewable energy globally leads to rising GHG emissions which will further increase the demand for hydrogen storage energy systems. Furthermore, hydrogen storage systems are used in utility and oil refining.
Global Hydrogen Energy Storage Market Scope
The hydrogen energy storage market is segmented on the basis of technology, physical state, application, end use and storage type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
Physical Based
Compression
Liquefaction
Material Based
Liquid Hydrogen
Metal Hydrides
Carbon Absorption
Underground Salt Caverns
Physical State
Solid
Liquid
Gas
Application
Stationary Power
Transportation
Portable Power
Power Generation
Chemicals
Metal Working
Utility
Oil Refining
General Industry
New Energy Automobile
Aerospace
Others
End Use
Commercial
Industrial
Residential
Storage type
Stationary Storage
Physical Storage
Chemical Storage
Others
Cylinder
Merchant/Bulk
Onsite
On-Board
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Global Hydrogen Energy Storage Market Regional Analysis/Insights
The hydrogen energy storage market is analysed and market size insights and trends are provided by technology, physical state, application, end use and storage type as referenced above.
The countries covered in the hydrogen energy storage market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hydrogen storage market due to increasing demand for H2fuel cells for the use in fuelling stations and rise in the demand for refined hydrogen in the North America region is significantly contributing for the market’s growth.
Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 due to the impact of productivity improvements. The emerging countries in Asia-Pacific region are adopting various foreign equipment in the hydrogen storage which improves the production efficiency. Along with the rising use in stationary power, transportation and portable power are significantly increasing the market’s growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Hydrogen Energy Storage Market Share Analysis
The hydrogen energy storage market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hydrogen energy storage market.
Some of the major players operating in the hydrogen energy storage market are:
· Siemens Energy (Germany)
· Linde plc (Ireland)
· ENGIE SA. (France)
· Air Liquide (France)
· Air Products and Chemicals, Inc. (U.S.)
· Nel ASA (Norway)
· Chart Industries (U.S.)
· GENH2 (U.S.)
· Hexagon Purus (Norway)
· FuelCell Energy, Inc. (U.S.)
· ITM Power PLC (U.K.)
· McPhy Energy S.A. (France)
· Hydrogenious LOHC Technologies (Germany)
· HyGear (Netherlands)
· Cockerill Jingli Hydrogen. (China)
· PRAGMA INDUSTRIES (France)
· Plug Power Inc. (U.S.)
· INOX India Limited (India)
· Home Power Solutions (Germany)
· Hydrogen In Motion Inc. (Canada)
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MAJOR TOC OF THE REPORT
Ø Chapter One: Introduction
Ø Chapter Two: Market Segmentation
Ø Chapter Three: Market Overview
Ø Chapter Four: Executive Summary
Ø Chapter Five: Premium Insights
Ø Chapter Six: Global Hydrogen Energy Storage Market by Product & Procedure type
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