Hydrogen Storage Market research report acts as a valued source of information with which businesses can achieve a telescopic view of the current market trends, consumer’s demands and preferences, market situations, opportunities and market status. By using this market report, the general market conditions, existing trends and tendencies in the Hydrogen Storage industry can be unearthed. It helps businesses obtain granular level clarity on current business trends and expected future developments. Moreover, this market research report puts forth thorough overview of the market where it identifies industry trends, determines brand awareness and influence, provides industry insights and offers competitive intelligence.
Global hydrogen storage market is estimated to rise of USD 1150.64 billion by 2026, registering a substantial CAGR of 8.2 % in the forecast period of 2019-2026. This rise in market value can be attributed to the increase in usage of hydrogen storage tanks in transportation application, high demand of low emission fuels, ammonia and methanol.
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Hydrogen storage is the technology for the enhancement and advancement of technology in applications including, stationary power, portable power, and transportation. It has its wide application in chemicals, metal working, general industrial, transportation, stationary power, portable power, and transportation. Rising demand for low emission fuels may act as the major driver in the growth of Hydrogen storage market. On the other side limited availability of hydrogen refueling infrastructure in developed economies may hamper the market.
Few of the major competitors currently working in hydrogen storage market are
Praxair Technology, Inc.
McPhy Energy S.A.
Luxfer Holdings PLC
Hexagon Composites ASA
H Bank Technologies Inc.
Cella Energy Inc.
Other Players Are Sigma-Aldrich Co. LLC, ATM GmbH, Hanwha Chemicals, Eutectix LLC, Pragma Industries, and Ilika Technologies Ltd., Hydrocell, Texaco Ovonic Hydrogen Systems L.L.C.and others. Global hydrogen storage market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of hydrogen storage market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
- Rising demand for low emission fuels
- Rise in demand for ammonia and methanol
- Increased usage of hydrogen storage tanks in transportation application
Key Developments in the Market:
In March 2019, Providence Asset Group, invested $3.5 million in hydrogen storage for renewables with researcher at UNSW Sydney. Propose of this to develop a first-of-its-kind hydrogen storage system that could be cheaper, safer renewable energy for home use
In April 2019, Researcher at Michigan university stated a program to develop hydrogen storage. This will eliminate the energy storage problem in vehicles by use of hydrogen storage
Segmentation: Global Hydrogen Storage Market
Material based Form
North America (U.S., Canada, Mexico)
South America (Brazil, Argentina, Rest of South America)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, Rest of Europe)
Asia-Pacific ( Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific)
Middle East & Africa (South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, Rest of Middle East & Africa)
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