The
global hydrogen storage market size is expected to reach
USD 6.47 billion by 2025, according to a new report by Grand View Research,
Inc. Favorable government regulations from U.S. DoE for producing alternative
energy as fuel is expected to drive the market over the forecast period.
Growing population and disposable income is projected to propel the market
growth over the coming years.
Rising
concern for the production cost of hydrogen is projected to be a major
challenge for demand. Increasing need for energy supply in power & energy
sectors is anticipated to drive the growth for hydrogen storage systems. Rising
focus to generate energy from renewable sources is expected to augment the
market positively.
 |
| U.S. hydrogen storage market revenue by application, 2014-2025, (USD Million) |
The
shift in trend towards producing alternative renewable energy from fuel cells,
oxygen, and hydrogen is projected to propel the market. Increasing demand for
power consumption on account of rapid urbanization and industrialization is
anticipated to drive H2 storage over the coming years.
Companies
such as Cella Energy Ltd and Eutectix LLC have tie-ups with hydrogen generation
and automobile companies local for the distribution of hydrogen storage. Most
of the companies have adopted partnership strategies with Defense &
Aerospace to enhance the hydrogen storage technology.
Browse full
research report on Hydrogen Storage Market: www.grandviewresearch.com/industry-analysis/hydrogen-storage-market
Further
Key Findings From the Study Suggest:
- Physical based segment dominated the hydrogen
storage type in 2015 accounting for over 72.6% of the global
industry
- Increased demand of hydrogen as compressed gas
and liquid hydrogen is expected to boost the physical hydrogen storage
market
- Technologies such as metal hydrides, adsorbent,
and chemical hydrogen storage among others are used to store hydrogen as
material based
- Stationary segment is expected to be the
largest hydrogen storage application by 2025 accounting for over 75.5% of
the global industry.
- Increasing demand for stored hydrogen in power,
energy, transportation, fuelling stations, and electronic sectors is
anticipated to augment the market growth
- Asia Pacific regional segment is expected to
grow at a significant rate of 5.9% over the forecast period owning to
growing demand for H2 and fuel cells
- Rising investment in hydrogen storage
materials, development and R&D of technologies is expected to propel
the market over the coming years
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the hydrogen storage market on the
basis of type, application, and region:
Type
Outlook By Revenue (USD Million, 2014-2025)
- Physical
Based
- Material
Based
Application
Outlook By Revenue (USD Million, 2014 - 2025)
- Stationary
Power
- Portable
Power
- Transportation
Regional
Outlook By Revenue (USD Million, 2014-2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- RoE
- Asia
Pacific
- India
- China
- RoAPAC
- CSA
- MEA
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-hydrogen-storage-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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