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Hydrogen Energy Storage Market by State (Liquid, Gas, Solid), Storage Technology (Compression, Liquefaction, Material based), End-User (Industrial, Commercial, Utilities), and Region - Global Forecast to 2024

Hydrogen Energy Storage Market by State (Liquid, Gas, Solid), Storage Technology (Compression, Liquefaction, Material based), End-User (Industrial, Commercial, Utilities), and Region - Global Forecast to 2024

The hydrogen energy storage market is expected to reach USD 18.2 billion by 2024, at a CAGR of 5.8% from 2019 to 2024
The global hydrogen energy storage market is projected to reach USD 18.2 billion by 2024 from an estimated USD 13.7 billion in 2019, at a CAGR of 5.8% during the forecast period. There is an increase in demand for hydrogen in chemical industry and demand for hydrogen in the stationary and portable power. Hydrogen energy storage technology has opportunities such as growing commercialization of power-to-gas technologies and demand for hydrogen as fuel in vehicles.

“Gas state of hydrogen energy storage dominate the global market”
The gas segment of hydrogen energy storage market is expected to be the largest market, by state , during the forecast period. Multiple methods are available to store hydrogen as a compressed gas such as, pressure tanks, underground storage, and line packing. Storing hydrogen gas via compression is an easiest and cost effective method as compared to liquefaction of hydrogen, which is the reason for its high demand in the hydrogen energy storage market globally.

“Compression segment hydrogen energy storage dominate the global market “
The compression, by storage technology is estimated to be the fastest-growing during the forecast period. This growth is attributed as compressed hydrogen gas storage is the simplest solution because only compressor and a pressure vessel equipment is required to store it and hence its demand is increasing in the hydrogen energy storage market globally.

“North America to lead the global hydrogen energy storage market in terms of growth rate.”
The hydrogen energy storage market in North America is projected to grow at the fastest rate during the forecast period. The major reason for the growth in this region is attributed to rise in fuel cell applications, tight regulations with regard to emission control, and use of cleaner fuels. Furthermore, growing demand for hydrogen powered fuel cells is also likely to drive the market in this region.

Besides North America , Europe was one of the largest markets for hydrogen energy storage. The demand for hydrogen energy storage in Europe is mainly driven by increase in fuel cell-based electric vehicles and hydrogen storage infrastructure.

Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier I-55%, Tier II-30%, and Tier III-15%
By Designation: C-Level-60%, Director Level-20%, and Others-20%
By Region: North America - 40%, Europe- 30%, Asia Pacific- 15%, Middle East & Africa- 10%, South America-5%

Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017; Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3: <USD 500 million.

The global hydrogen energy storage market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen energy storage are Hydrogenics(Canada), ITM Power(UK), Hexagon Composites(Norway), Worthington Industries(US), Linde(UK), Nel Hydrogen(Norway), Plug Power(US), Chart Industries(US), Air Liquide(France), Air Products and Chemicals(US) and Hydrogenious(Germany)

Research Coverage:
The report defines, describes, and forecasts the global hydrogen energy storage market, by state, storage technology, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the hydrogen energy storage market.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • DEFINITION
    • MARKET SCOPE
      • MARKET SEGMENTATION
      • REGIONAL SCOPE
    • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • LIMITATIONS
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • SCOPE
    • MARKET SIZE ESTIMATION
      • DEMAND-SIDE ANALYSIS
      • FORECAST
      • SUPPLY-SIDE ANALYSIS
  • EXECUTIVE SUMMARY
    • Table HYDROGEN ENERGY STORAGE MARKET SNAPSHOT
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE HYDROGEN ENERGY STORAGE MARKET
    • HYDROGEN ENERGY STORAGE MARKET, BY REGION
    • NORTH AMERICAN HYDROGEN ENERGY STORAGE MARKET, BY STATE & COUNTRY
    • HYDROGEN ENERGY STORAGE MARKET, BY STORAGE TECHNOLOGY
    • HYDROGEN ENERGY STORAGE MARKET, BY END-USER
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
        • Table INITIAL INVESTMENT COST OF HYDROGEN ENERGY STORAGE
      • OPPORTUNITIES
      • CHALLENGES
  • HYDROGEN ENERGY STORAGE MARKET, BY STATE
    • INTRODUCTION
      • Table HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
    • GAS
      • MULTIPLE COST-EFFECTIVE METHODS TO STORE HYDROGEN AS A GAS VIA COMPRESSION ARE LIKELY TO DRIVE ITS DEMAND IN THE HYDROGEN ENERGY STORAGE MARKET
        • Table GAS: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • LIQUID
      • HIGHER ENERGY DENSITY AND WIDE INDUSTRIAL APPLICATIONS OF LIQUID HYDROGEN ARE LIKELY TO FOSTER ITS DEMAND IN HYDROGEN ENERGY STORAGE MARKET
        • Table LIQUID: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • SOLID
      • LARGE QUANTITIES OF HYDROGEN CAN BE STORED IN SMALLER VOLUMES-THIS IS LIKELY TO DRIVE ITS DEMAND
        • Table SOLID: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • HYDROGEN ENERGY STORAGE MARKET, BY STORAGE TECHNOLOGY
    • INTRODUCTION
      • Table HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
    • COMPRESSION
      • EASY AND COST-EFFICIENT HYDROGEN STORAGE VIA COMPRESSION IS LIKELY TO GENERATE ITS DEMAND IN THE HYDROGEN ENERGY STORAGE MARKET
        • Table COMPRESSION: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • LIQUEFACTION
      • HIGHER VOLUMETRIC STORAGE WITH FEWER EVAPORATION LOSSES IS LIKELY TO FOSTER THE DEMAND FOR LIQUEFACTION HYDROGEN STORAGE TECHNOLOGY
        • Table LIQUEFACTION: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • MATERIAL BASED
      • HIGHER HYDROGEN STORAGE CAPACITY AND GREATER RELIABILITY OF MATERIAL-BASED HYDROGEN STORAGE TECHNOLOGY ARE LIKELY TO DRIVE ITS DEMAND
        • Table MATERIAL BASED: HYDROGEN ENERGY STORAGE TECHNOLOGY MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • HYDROGEN ENERGY STORAGE MARKET, BY END-USER
    • INTRODUCTION
      • Table HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
    • UTILITIES
      • GROWING DEMAND FOR POWER GENERATION THROUGH RENEWABLE ENERGY SOURCES IS LIKELY TO DRIVE ITS DEMAND IN HYDROGEN ENERGY STORAGE MARKET
        • Table UTILITIES: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • INDUSTRIAL
      • INCREASING APPLICATIONS OF HYDROGEN ENERGY STORAGE IN THE CHEMICAL INDUSTRY & OIL REFINERIES ARE LIKELY TO FOSTER ITS DEMAND IN INDUSTRIAL SECTOR
        • Table INDUSTRIAL: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • COMMERCIAL
      • FUEL CELL BASED TRANSPORT AND USE OF HYDROGEN FOR COMMERCIAL SPACE HEATING ARE EXPECTED TO DRIVE THE COMMERCIAL SEGMENT
        • Table COMMERCIAL: HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
  • HYDROGEN ENERGY STORAGE MARKET, BY REGION
    • INTRODUCTION
      • Table GLOBAL HYDROGEN ENERGY STORAGE MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
    • NORTH AMERICA
      • BY STATE
        • Table NORTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
      • BY STORAGE TECHNOLOGY
        • Table NORTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
      • BY END-USER
        • Table NORTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • BY COUNTRY
        • Table NORTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • US
        • Table US: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table US: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • CANADA
        • Table CANADA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table CANADA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • MEXICO
        • Table MEXICO: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table MEXICO: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
    • EUROPE
      • BY STATE
        • Table EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
      • BY STORAGE TECHNOLOGY
        • Table EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
      • BY END-USER
        • Table EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • BY COUNTRY
        • Table EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • FRANCE
        • Table FRANCE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table FRANCE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • GERMANY
        • Table GERMANY: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table GERMANY: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • RUSSIA
        • Table RUSSIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table RUSSIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • UK
        • Table UK: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table UK: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • REST OF EUROPE
        • Table REST OF EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table REST OF EUROPE: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
    • ASIA PACIFIC
      • BY STATE
        • Table ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
      • BY STORAGE TECHNOLOGY
        • Table ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
      • BY END-USER
        • Table ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • BY COUNTRY
        • Table ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • AUSTRALIA
        • Table AUSTRALIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table AUSTRALIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • CHINA
        • Table CHINA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table CHINA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • INDIA
        • Table INDIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table INDIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • JAPAN
        • Table JAPAN: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table JAPAN: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • REST OF ASIA PACIFIC
        • Table REST OF ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table REST OF ASIA PACIFIC: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
    • MIDDLE EAST & AFRICA
      • BY STATE
        • Table MIDDLE EAST & AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
      • BY STORAGE TECHNOLOGY
        • Table MIDDLE EAST & AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
      • BY END-USER
        • Table MIDDLE EAST & AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • BY COUNTRY
        • Table MIDDLE EAST & AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • SOUTH AFRICA
        • Table SOUTH AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table SOUTH AFRICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • SAUDI ARABIA
        • Table SAUDI ARABIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table SAUDI ARABIA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
    • SOUTH AMERICA
      • BY STATE
        • Table SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
      • BY STORAGE TECHNOLOGY
        • Table SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STORAGE TECHNOLOGY, 2017-2024 (USD MILLION)
      • BY END-USER
        • Table SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • BY COUNTRY
        • Table SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • BRAZIL
        • Table BRAZIL: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table BRAZIL: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • ARGENTINA
        • Table ARGENTINA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table ARGENTINA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
      • REST OF SOUTH AMERICA
        • Table REST OF SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY STATE, 2017-2024 (USD MILLION)
        • Table REST OF SOUTH AMERICA: HYDROGEN ENERGY STORAGE MARKET SIZE, BY END-USER, 2017-2024 (USD MILLION)
  • COMPETITIVE LANDSCAPE
    • INTRODUCTION
    • MARKET SHARE ANALYSIS
    • COMPETITIVE SCENARIO
      • Table DEVELOPMENTS BY KEY PLAYERS IN THE MARKET, JANUARY 2015-AUGUST 2019
      • NEW PRODUCT DEVELOPMENTS
      • CONTRACTS & AGREEMENTS
      • MERGERS & ACQUISITIONS
      • INVESTMENTS & EXPANSIONS
      • PARTNERSHIPS
    • COMPETITIVE LEADERSHIP MAPPING
      • VISIONARY LEADERS
      • INNOVATORS
      • DYNAMIC
      • EMERGING
  • COMPANY PROFILE
    • AIR LIQUIDE
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • CHART INDUSTRIES
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT
      • MNM VIEW
    • HEXAGON COMPOSITES
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • MNM VIEW
    • ITM POWER
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • NEL HYDROGEN
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • PLUG POWER
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
    • WORTHINGTON INDUSTRIES
      • OVERVIEW
      • OFFERINGS
      • SWOT ANALYSIS
      • MNM VIEW
    • HYDROGENICS
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • LINDE
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • HYDROGENIOUS LOHC TECHNOLOGIES
      • BUSINESS OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
    • INOXCVA
      • OVERVIEW
      • OFFERINGS
    • AIR PRODUCTS AND CHEMICALS
      • OVERVIEW
      • OFFERINGS
      • MNM VIEW
    • MCPHY ENERGY
      • OVERVIEW
      • OFFERINGS
      • RECENT DEVELOPMENTS
    • FUELCELL ENERGY
      • OVERVIEW
      • OFFERINGS
    • PRAGMA INDUSTRIES
    • GRZ TECHNOLOGIES
    • H2GO POWER
    • AREVA H2GEN
    • HYDROGEN IN MOTION
    • HYDROCELL
  • APPENDIX
    • INSIGHTS OF INDUSTRY EXPERTS
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

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