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.
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: https://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: https://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
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.
For more information: www.grandviewresearch.com
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