Pune 11 April 2023: The “Hydrogen Storage Market” was USD 15.43 Bn in 2022 and is expected to grow at a CAGR of 7.97 percent to reach USD 26.40 Bn by 2029 during the forecast period. The Hydrogen Storage Market report is published by Maximize Market Research and is available in the market.
Hydrogen Storage Market Scope and Research Methodology
The Hydrogen Storage Market report provides a thorough analysis of segments and sub-segments in local, global and regional markets. The report focuses on how drivers, restraints, and macro variables affect local, global and regional Systems of Hydrogen Storage markets. The report contains a comprehensive analysis of the global Hydrogen Storage System market’s trends, forecasts, and monetary values. The report includes primary and secondary collection techniques with qualitative and quantitative approaches for the analysis of the Hydrogen Storage market. The Hydrogen Storage market report includes aspects of the industry with key players such as market leaders, market followers and new entrants. The bottom-up approach was used in the report for Hydrogen Storage market estimation. The segment-wise analysis of the Hydrogen Storage Market is divided into Physical State, Technology, Type of Storage and Application.
The report provides a thorough analysis of the demand projections, market trends, and micro and macro factors Hydrogen Storage market. The report covers the factors that are driving and restricting the Hydrogen Storage market’s growth. The report uses analytical methodologies such as Porter’s five forces analysis and PESTLE of the Hydrogen Storage Market to provide market insights. The report involves an analysis of current Hydrogen Storage market trends as well as forecasts for the years.
Hydrogen Storage Market Dynamics
Hydrogen is widely used in many industrial verticals such as food, plastics, metals, chemicals and power generation. It is also used to minimize carbon emissions and large-scale energy conversion applications. As a result, increasing demand for hydrogen storage in several industries helps to drive the market. The Hydrogen Storage Market is driven by the increase in demand for transportation fuels, rising storage of hydrogen storage tanks in transport applications and increasing initiatives by the government for the establishment of energy–saving hydrogen infrastructure. An increase in the adoption of hydrogen storage as a substitute for fossil fuels by end-users is the factor that influences the Hydrogen Storage Market.
During the forecast period, the market growth is expected to be restrained by the lack of availability of hydrogen refueling infrastructure in developed economies and he high capital cost of keeping the liquid from vaporizing.
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Hydrogen Storage Market Regional Insights
In 2022, Asia Pacific dominated the largest market share for the Hydrogen Storage Market and is expected to continue its dominance with a 7.89 percent CAGR, during the forecast period. The regional market is driven by the increasing need for energy, the growing population and the growth in industrial sectors.
The strong demand for ammonia and methanol from developing countries such as India, China and Malaysia and subsidies by the government for the manufacturing of hydrogen-powered fuel cell vehicles in Japan and South Korea are the influencing factors for the regional growth of the Hydrogen Storage Market.
Hydrogen Storage Market Segmentation
By Physical State
- Compression
- Liquefaction
- Material Based
By Technology
- Compression
- Liquefaction
- Material Based
By Type of Storage
- Cylinder
- Merchant
- On-Site
- On-Board
By Application
- Chemicals
- Oil Refining
- Industrial
- Transportation
- Metal Working
Hydrogen Storage Market Key Players Include:
- Pragma Industries (France)
- Areva S.A. (France)
- Mcphy Energy S.A (France)
- Air Liquide S.A. (France)
- Hydrogenious Technologies (Germany)
- Sigma-Aldrich Co.-Merck Group (Germany)
- Sigma-Aldrich Co.-Merck Group (Germany)
- Luxfer Holdings Plc (UK)
- Oy Hydrocell Ltd. (Finland)
- Linde plc (Ireland)
- Hexagon Composites ASA (Norway)
- Air Products and Chemicals, Inc. (US)
- Worthington Industries, Inc. (US)
- Plug Power Inc. (US)
- General Motors (US)
- Praxair S.T. Technology, Inc. (US)
- American Elements (US)
- ADA Technologies, Inc. (US)
- Panasonic (Japan)
- Toshiba Corporation (Japan)
- INOXCVA (India)
- Hbank Technologies Inc. (Taiwan)
- Hanwha Solutions Chemical Devision (South Korea)
- Hydrexia (Australia)
Table of Content for Global Hydrogen Storage Market:
- Global Hydrogen Storage Market: Research Methodology
- Global Hydrogen Storage Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Hydrogen Storage Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Hydrogen Storage Market Segmentation
- Global Market, by Physical State (2021-2029)
- Global Market, by Technology (2021-2029)
- Global Market, by Type of Storage (2021-2029)
- Global Market, by Application (2021-2029)
- Regional Hydrogen Storage Market (2022-2029)
- Regional Market, by Physical State (2021-2029)
- Regional Market, by Technology (2021-2029)
- Regional Market, by Type of Storage (2021-2029)
- Regional Market, by Application (2021-2029)
- Regional Market, by Country (2021-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis of the Physical State, Technology, Type of Storage, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
Key questions answered in the Hydrogen Storage Market are:
- What is Hydrogen Storage?
- What was the Hydrogen Storage market size in 2021?
- What is the growth rate of the Hydrogen Storage Market?
- Which are the factors expected to drive the Hydrogen Storage market growth?
- What are the different segments of the Hydrogen Storage Market?
- What are the factors restraining the growth of the Hydrogen Storage Market?
- What is the demand pattern of the Hydrogen Storage Market?
- What are the upcoming industry applications and trends for the Hydrogen Storage Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Hydrogen Storage Market?
- Who are the leading companies and what are their portfolios in Hydrogen Storage Market?
- What major challenges could the Hydrogen Storage Market face in the future?
- What segments are covered in the Hydrogen Storage Market?
- Who are the key players in the Global Hydrogen Storage market?
- What are the upcoming industry applications and trends for the Hydrogen Storage Market?
Maximize Market Research is leading Energy & Power and research firm, has also published the following reports:
Hydrogen Energy Storage Market – The market size is expected to reach USD 22.34 Bn by 2029 at a CAGR of 7.90 percent during the forecast period. The market is driven by the increasing demand for producing hydrogen from electrolysis by surplus renewable power and the declining cost of renewable power generation from wind and solar energy.
Hydrogen Compressor Market – The market size is expected to reach USD 2.37 Bn by 2029 at a CAGR of 5.79 percent during the forecast period. The market is driven by the increasing demand for hydrogen compressors in the mobility sector and the capitalization of hydrogen compression technologies by emerging companies.
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