Hydrogen Storage Market Set to Witness an Uptick during 2019 to 2025


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 hydrogen storage market. Increasing demand for power consumption on account of rapid urbanization and industrialization is anticipated to drive H2 storage over the coming years.
Key players operating in this industry include Cella Energy Inc., Hexagon Composites ASA, American Elements, Sigma-Aldrich Co. LLC, ATM GmbH, Hanwha Chemicals, Eutectix LLC, H Bank Technology Inc., Pragma Industries, and Ilika Technologies Ltd.
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https://www.grandviewresearch.com/industry-analysis/hydrogen-storage-market/request/rs4
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.
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 H2and fuel cells
  • Rising investment in hydrogen storage materials, development and R&D of technologies is expected to propel the market over the coming years
Increasing demand for green power is expected to positively influence the market growth. Different methods used to store H2 are high-pressure tanks, cylinders, liquid hydrogen, nanotube adsorption, metal hydrides and many more. Rising cost concerns for storing H2 is expected to negatively influence the market growth over the coming years.
Growing demand for applications including portable power, stationary power, and transportation is projected to boost the market over the next nine years. Increasing developments for fuel vehicles is expected to drive the transportation sector. Technological developments by the companies for improving the density to enhance the storing capacity are expected to act favorably for hydrogen storage market participants. Companies have adopted merger and agreement strategies with retailers to strengthen the market presence globally.
The physical based segment accounted for the largest share in 2015 and was valued at USD 2,903.07 million in 2015. Physical based type is used majorly to store in liquid or gaseous form. Compressed gas storage is widely used for onboard automotive systems. Increasing demand for transportation and bulk storage is expected to boost the market.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-hydrogen-storage-market
Grand View Research has segmented the hydrogen storage market on the basis of type, application:
Hydrogen Storage Type Outlook (Revenue, USD Million, 2014-2025)
  • Physical Based
  • Material Based
Hydrogen Storage Application Outlook (Revenue, USD Million, 2014 - 2025)
  • Stationary Power
  • Portable Power
  • Transportation
The stationary power segment accounted for the largest share in 2015 and was valued at USD 3,011.03 million in 2015. Increasing demand for H2 for electricity as generators is expected to spur the industry growth over the forecast period. Stationary power application is widely used in airports, data centers, grocery stores, hospitals, retail, homes, telecommunications networks, businesses, and utilities among others.
Transportation segment is expected to be the fastest growing market over the forecast period. Increasing production of fuel cell vehicles is anticipated to augment the hydrogen storage market growth over the forecast period. Growing advantages of H2 fuel cells in reducing greenhouse emissions is expected to witness significant industry growth over the forecast period.
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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