The global Hydrogen Storage Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Hydrogen Storage Market is anticipated to reach USD 6.47 billion by 2025. Hydrogen storage is a key technology for the development of fuel and hydrogen cell technologies in applications comprising portable power, transportation, and stationary power.
Key Players:
- Cella Energy Ltd
- Hexagon Composites ASA
- American Elements
- Sigma-Aldrich Co. LLC.
- ATM GmbH
- Hanwha Chemicals
- Eutectix LLC
- H Bank Technology Inc.
- Pragma Industries
- Ilika Technologies Ltd.
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Growth Drivers:
The factors that propel the growth of the hydrogen storage market include surge in the consumption of oil across the globe, increase in the demand for transportation fuels, decline of global crude oil quality, and strict environmental standards for the production of cleaner fuels. On the other hand, there are factors that may hamper the growth of the market including restricted accessibility of hydrogen refilling infrastructure in the emerging economies. Hydrogen storage industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The important trend observed in the hydrogen storage industry is increasing focus on R&D for the growth of hydrogen storage technology. In recent times, the U.S., India, and England have been progressively focusing on R&D activities that could support the technological improvements in hydrogen and fuel cell technologies.
Type Outlook:
- Physical Based
- Material Based
The “Physical” segment led the hydrogen storage market in 2016 and is anticipated to maintain its dominance by 2025. The key factor that may attributed to the growth of market includes high demand across various applications.
Application Outlook:
- Stationary Power
- Portable Power
- Transportation
The “Transportation” segment led the hydrogen storage industry in 2016 and is anticipated to maintain its dominance by 2025. The key factor that may attributed to the growth of market includes increasing demand for hydrogen powered fuel cell vehicles in North America and Europe.
Type Of Storage Outlook:
- On-board, Merchant/bulk
- Cylinder
- On-site
The “Cylinder” segment led the hydrogen storage industry in 2016 and is anticipated to maintain its dominance by 2025. The key factor that may attributed to the growth of market includes increase in demand for end-use applications, such as food, electronics industries and metal working.
Regional Outlook:
Asia-Pacific accounted for the major share of the Hydrogen Storage Market Size in 2017 and will continue to lead in the forecast period. The factors that could be attributed to the growth include strong requirement for ammonia and methanol from emerging nations, such as India, China and Malaysia and increasing demand forH2 and fuel cells. Asia-Pacific is likely to be followed by the North American region.
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