The universal Hydrogen Storage business report gives market definition in the form of market driving factors and market restraints which helps estimating the demand of particular product depending on several aspects. This market research report comprises of extensive study about different market segments and regions, emerging trends along with major drivers, challenges and opportunities in the market. This credible report evaluates the common business tactics adopted by top players. It also interprets the growth outlook of the global market. Under competitive analysis section, major key players existing in the market are mentioned along with various details such as company profiles, their market share analysis, and their different strategies which make them thrive in the market.

 


A data triangulation method is used in the entire Hydrogen Storage market report which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. To generate premium market research report, marketing management must be aware of the minds of their target markets, their feelings, their preferences, their attitudes, convictions and value systems with a formalised and managerial approach. This market research report offers CAGR value fluctuation in percentage during the forecast period of 2022-2029 for the market. An influential Hydrogen Storage report studies the global market status and forecast, categorizes the global market size (value & volume) by key players, type, application, and region.

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Hydrogen storage refers to the technology utilized to improve and progress technology in areas such as fixed electricity, portable power, and transportation. In addition to other industries, hydrogen storage finds extensive use in chemicals, metalworking, general industry, transportation, fixed power, portable power, and transportation.

Data Bridge Market Research analyzes that the global hydrogen storage market, which was USD 15.68 billion in 2022, would rocket up to USD 28.70 billion by 2030, and is expected to undergo a CAGR of 7.85% during the forecast period. “Physical form” dominates the form segment of the market as in atmospheric pressure, a cryogenic liquid can be used to physically store hydrogen.  As it offers a more portable and secure storage solution, cryogenic hydrogen storage is superior to compressed storage.

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.

Market Definition

Electricity is stored as hydrogen via hydrogen energy storage, a type of chemical energy storage. Water is electrolyzed to generate hydrogen, which is then kept in medium- or large-sized containers depending on the requirements. Both fuel cells and combustion engines may use gas to create energy. The three common forms in which hydrogen energy is stored are liquid, solid, and gaseous. High-pressure tanks are needed to store hydrogen in its gaseous state; on the other hand, liquid hydrogen can only be stored at cryogenic temperatures. In fuel cell technology for stationary power and transportation purposes, hydrogen storage is frequently utilized.

Some of the major players operating in the global hydrogen storage market are:

  • Air Liquide (France)
  • Linde plc (Ireland)
  • Praxair Technology, Inc. (U.S.)
  • Worthington Industries (U.S.)
  • McPhy Energy S.A. (France)
  • Luxfer Holdings PLC (U.K.)
  • Hexagon Composites ASA (Norway)
  • H Bank Technologies Inc. (Taiwan)
  • Inoxwind (India)
  • VRV S.r.L. (Italy)
  • Cella Energy (U.K.)
  • American Elements (U.S.)
  • Sigma-Aldrich Co. (Germany)
  • Hanwha Solutions/Chemical Corporation (Singapore)
  • Eutectix (U.S.)
  • Pragma Industries (France)
  • Ilika (U.K.)
  • Fosroc, Inc. (India)

Recent Development

  • In May 2022, Air Products, OQ, and ACWA Power entered a cooperative development agreement for a worldwide hydrogen-based ammonia manufacturing facility in Oman.
  • In March 2022, a combined venture between Air Liquide and Lotte Chemical aimed to expand the hydrogen supply chain for the mobility sectors.
  • In December 2021, Together, Howden, and Chart Industries created an advanced hydrogen solution with Chart's hydrogen products using Howden's gas compression technology.

Opportunity

  • Demand for hydrogen gas rises as the number of fuel cell applications rises  

The development of technology, the rise in the demand for hydrogen storage to meet growing market demand, and an increase in market R&D efforts are expected to extend profitable opportunities to the market players from 2023 to 2030. In addition, growth in the production of low-weight storage tanks for use in transportation will further expand the future market growth. 

Hydrogen Storage Market Scope

The global hydrogen storage market is segmented into three notable segments based on form, type, and end-user. The growth amongst these segments will help you analyze meager 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.

Form

  • Physical Form
  • Compressed gas
  • Cold/Cryo Compressed
  • Liquid Hydrogen
  • Material-based Form
  • Adsorbent
  • Liquid Organic
  • Interstitial Hydride
  • Complex Hydride
  • Chemical Hydrogen

Type

  • Cylinder
  • Merchant/Bulk
  • Onsite
  • On-board

End-User

  • Chemical
  • Oil Refining
  • General Industry
  • Transportation
  • Metal Working

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Global Hydrogen Storage Market Regional Analysis/Insights

The global hydrogen storage market is analyzed and market size insights and trends are provided by country, form, type, and end-user as referenced above.

The countries covered in this market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2023-2030. The rising demand for fuels with low emissions is expected to enhance market growth.

Major TOC of the Hydrogen Storage Market Report
• INTRODUCTION
• MARKET SEGMENTATION
• MARKET OVERVIEW
• EXECUTIVE SUMMARY
• PREMIUM INSIGHTS
• Integrated Passive Device Market
• COMPANY PROFILE
• COMPONENT MANUFACTURER
• CONCLUSION
• QUESTIONNAIRE
• RELATED REPORTS

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