Hydrogen Storage Market - Global Industry Analysis

Hydrogen Storage Market

Hydrogen Storage Market by Form (Physical-Based and Material-Based) and by Application (Stationary Power, Portable Power, and Transportation): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2026

Published Date: 19-Jun-2019 Category: Chemical & Materials Report Format : PDF Pages: 110 Report Code: ZMR-4230 Status : Published

Global hydrogen storage market expected to reach USD 1,131 million by 2026, at a CAGR of around 8.3% between 2019 and 2026. The global hydrogen storage market is expected to witness substantial growth over the forecast time period, owing to the growing concerns related to environmental protection.

Description

The report covers a forecast and an analysis of the hydrogen storage market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2026 based on revenue (USD Million). The study includes drivers and restraints of the hydrogen storage market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the hydrogen storage market on a global level.

In order to give the users of this report a comprehensive view of the hydrogen storage market, we have included a detailed value chain analysis. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the hydrogen storage market has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

Global Hydrogen Storage Market

The study provides a decisive view of the hydrogen storage market by segmenting it based on form, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2026. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The report covers a detailed competitive outlook including the market share and company profiles of various key participants operating in the global hydrogen storage market.

The key players operating in the global hydrogen storage market are Luxfer Holdings, Worthington Industries, Praxair, Hydrogenious Technologies, Pragma Industries, HBank Technology, Air Liquide, Hexagon Composites, Linde, Cella Energy Limited, VRV, Eutectix, and McPhy Energy.

This report segments the global hydrogen storage market into:

Global Hydrogen Storage Market: Form Analysis

  • Physical-Based
  • Material-Based

Global Hydrogen Storage Market: Application Analysis

  • Stationary Power
  • Portable Power
  • Transportation

Global Hydrogen Storage Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • Middle East and Africa

Table Of Content

Methodology

Free Analysis

Hydrogen storage is a technology that is vital for successful commercialization of automobiles that use hydrogen as a fuel. The global hydrogen storage market is expected to witness substantial growth over the forecast time period, owing to the growing concerns related to environmental protection. Rising global energy consumption and increasing demand for oil and natural gas are leading to excessive use of these naturally occurring, limited sources. Hydrogen is a well-recognized and accepted as an alternative energy source. Hydrogen is the third most common element present on the earth. It is the most efficient energy source among all fuels and is a cleaner apart from being a zero-carbon emitting energy source. Its only byproduct is water. Hydrogen storage is extremely important for using hydrogen as an alternate energy source. Hydrogen carries the maximum energy per mass among all other fuels. However, its low atmosphere temperature density generates less energy per unit volume. Thus, the development of efficient storage methods with the potentiality for high energy delivery is highly required. However, the high production cost of hydrogen storage tanks may limit the global hydrogen storage market. Alternatively, technological advancements in the manufacturing of storage vessels and growing advantages of hydrogen fuel cells in scaling down greenhouse emissions will positively influence the global hydrogen storage market.

Based on form, the global hydrogen storage market is bifurcated into physical-based and material-based. Physical-based type is generally used to store hydrogen in liquid or gaseous forms. Material-based type includes storage of metal hydrides, sorbent materials, and chemical hydrogen. Storing hydrogen in liquid form involves cryogenics, as the boiling point of hydrogen is extremely low. Metal hydrides are the most feasible hydrogen storage materials, as they can be easily deployed in a variety of applications, such as heat pumps, thermal storages, etc. Chemical hydrogen storage materials are usually compounds that have strong covalent bonds of hydrogen in their structure. Sorbent materials store hydrogen by the method of adsorption. In terms of application, the hydrogen storage market includes stationary power, portable power, and transportation.

Global Hydrogen Storage Market

The Asia Pacific region is anticipated to dominate the global hydrogen storage market in the future, owing to the emerging markets in China and India. The North American hydrogen storage market is expected to grow notably over the forecast time period, owing to the growing demand for refined hydrogen by the flourishing automobile sector.

The key players operating in the global hydrogen storage market are Luxfer Holdings, Worthington Industries, Praxair, Hydrogenious Technologies, Pragma Industries, HBank Technology, Air Liquide, Hexagon Composites, Linde, Cella Energy Limited, VRV, Eutectix, and McPhy Energy.

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