HydrogenEnergy Storage Market is expected to gain market growth in the forecast periodof 2021 to 2028. Data Bridge Market Research analyses the hydrogen energystorage market to account to USD 18.95 billion growing at a CAGR of 5.20% inthe above-mentioned forecast period. Increase in use of stored hydrogen forstationary and backup power application has been directly impacting the growthof hydrogen energy storage market.
Hydrogen energy storage is a process in which renewableenergy residue at low energy demand times is used to enable electrolysis. Thisprocess helps to increase the efficiency of the sustainable
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The major players covered in the hydrogenenergy storage market report are:
Hydrogenious LOHC Technologies, Air Products &Chemicals, Air Liquide, Chart Industries, Plug Power, Nel ASA., Linde plc,Worthington Industries, Hexagon Composites ASA, ITM Power, Cummins Inc., Ilika,Pragma Industries, HBank Technologies Inc., Inoxcva, GRZ Technologies, McPhyEnergy, NEL Hydrogen, INOX Group, VRV S.P.A, Luxfer Holdings PLC among otherdomestic and global players. Market share data is available for Global, NorthAmerica, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and SouthAmerica separately. DBMR analysts understand competitive strengths and providecompetitive analysis for each competitor separately.
By State
(Liquid, Gas and Solid), Storage Technology (Compression,Liquefaction and Material Based), End-User (Industrial, Commercial andUtilities),
Application (Stationary Power,Portable Power and Transportation), Storage type (Stationary Storage, PhysicalStorage and Chemical Storage)
grid power supply systems, motor fuels, and plumbingsystems. North America is likely to see higher demand for hydrogen energy storage dueto increased use of hydrogen gas in oil refineries andchemical industries in the region. In addition, stricter regulations and increasedfuel cell activity are likely to encourage the growth of a hydrogen energystorage market.
Increasing applications of hydrogen across severalsectors is a main driver for hydrogen energy storage market. Growing demand forproducing hydrogen from electrolysis using surplus renewable power is also adriver for the hydrogen energy storage market. Declining cost of renewablepower generation from solar and wind energy is also an opportunity for thegrowth of hydrogen energy storage market. Stored hydrogen demand in severalend-use applications including fuel cell vehicles, grid services, andtelecommunication services is also an opportunity for the market.
The low density of hydrogen is a challenge for hydrogenenergy storage market. However, high capital cost of hydrogen storage andgrowing investment in the battery technology is a restraint in growth ofhydrogen energy storage market during the forecast period of 2021-2028.
This hydrogen energy storage market report providesdetails of new recent developments, trade regulations, import export analysis,production analysis, value chain optimization, market share, impact of domesticand localised market players, analyses opportunities in terms of emergingrevenue pockets, changes in market regulations, strategic market growthanalysis, market size, category market growths, application niches anddominance, product approvals, product launches, geographic expansions,technological innovations in the market. To gain more info on Data BridgeMarket Research hydrogen energy storage market contact us for an AnalystBrief, ourteam will help you take an informed market decision to achieve market growth.
In July 2018, Air Liquide and the Chinese startup STNE(Shanghai Sinotran New Energy Automobile Operation CO., LTD.), have signed anagreement to expedite the rollout of hydrogen-powered electric truck fleets inChina. Air Liquide has provided STNE with its expertise in the intact hydrogensupply chain, from production and storage to distribution, to stimulate thestartup’s development. STNE intends to operate a fleet of up to 7,500 trucksand to operate a network of around 25 hydrogen stations by 2020.
Hydrogen EnergyStorage Market Scope and Market Size
Hydrogen energy storage market is segmented on the basisof state, storage technology, end-user, application and storage type. Thegrowth amongst these segments will help you analyse meagre growth segments inthe industries, and provide the users with valuable market overview and marketinsights to help them in making strategic decisions for identification of coremarket applications.
· Basedon state, the hydrogen energy storage market is segmented into liquid, gas andsolid.
· Basedon storage technology, the hydrogen energy storage market is segmented intocompression, liquefaction and material based.
· Basedon end-user, the hydrogen energy storage market is segmented into industrial,commercial and utilities.
· Hydrogenenergy storage market has also been segmented based on application, intostationary power, portable power and transportation.
· Basedon storage type, the hydrogen energy storage market is segmented intostationary storage, physical storage and chemical storage.
Hydrogen EnergyStorage Market Country Level Analysis
Hydrogen energy storage market is analysed and marketsize insights and trends are provided by country, state, storage technology,end-user, application and storage type as referenced above.
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The countries covered in the hydrogenenergy storage market report are:
U.S., Canada and Mexico in North America, Germany,France, U.K., Netherlands, Switzerland, Belgium,Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India,South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines,Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E,Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part ofMiddle East and Africa (MEA), Brazil, Argentina and Rest of South America aspart of South America.
The country section of the hydrogen energy storage marketreport also provides individual market impacting factors and changes inregulation in the market domestically that impacts the current and futuretrends of the market. Data points such as consumption volumes, production sitesand volumes, import export analysis, price trend analysis, cost of rawmaterials, down-stream and upstream value chain analysis are some of the majorpointers used to forecast the market scenario for individual countries. Also,presence and availability of global brands and their challenges faced due tolarge or scarce competition from local and domestic brands, impact of domestictariffs and trade routes are considered while providing forecast analysis ofthe country data.
Competitive Landscapeand Global Hydrogen Energy Storage Market Share Analysis
Hydrogen energy storage market competitive landscapeprovides details by competitor. Details included are company overview, companyfinancials, revenue generated, market potential, investment in research anddevelopment, new market initiatives, global presence, production sites and facilities,production capacities, company strengths and weaknesses, product launch,product width and breadth, application dominance. The above data pointsprovided are only related to the companies’ focus related to hydrogen energystorage market.
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