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Hydrogen Energy Storage Market Analysis (2019-2027) – Market Size US$ 21.15 Bn By 2027

January 26, 2020 GMT

Sanjose, CA USA, January 26, 2020 (Wired Release) Credence Research The global market for Hydrogen Energy Storage is valued at US$ 12.96 billion in 2018 and is expected to grow at CAGR by 5.7% over the forecast period from 2019 to 2027.

Growing applications of hydrogen and technological advancement for the storage and use of hydrogen potential are driving the global market for hydrogen energy storage.  Increase the use of hydrogen energy as a fuel estimated to reduce carbon emissions, increase the reliability of supply and reduce the consumption of conventional fossil fuels. New technologies, such as the direct injection of hydrogen into the natural gas pipeline referred to as power-to-gas and the pre-conversion of hydrogen into methane to avoid various blending issues, have a significant impact on the use of hydrogen as a fuel, increasing the demand for storage facilities. Further, at the end of 2018, the global FCEV stocks reached at 11,200 units with around 4,000 sales in the same year. China has produced over 2,000 small trucks. With an increasing number of refuelling stations in Japan, Germany and the United States, sales of FCEV will increase in the coming years. It has a long-term impact on the market for hydrogen energy storage.

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On the contrary, the high capital cost of hydrogen storage and the increasing investment in battery technology are anticipated to constrain the market during the forecast period. Overall, the global market for hydrogen energy storage was US$ 12.96 billion in 2018, with CAGR expected to grow by 5.7% from 2019 to 2027. The projected size of the global market for hydrogen energy storage is estimated at US$ 21.15 billion in 2027.  The overall market for hydrogen energy storage is slightly fragmented in nature and is growing at a moderate rate. Growing government investment has a positive impact on the market.

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[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction to the Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also included]

There has been an increasing global demand for energy supply, which can be met as fuel by hydrogen. This in turn would require the hydrogen storage infrastructure, thus driving the market for Hydrogen Energy Storage. In recent times, the trend towards harvest alternative renewable energy from hydrogen coupled with the growing demand for energy generation and use is supposed to drive the Hydrogen Energy Storage market.

In the context of the North American region, the U.S. Department of Energy (US DOE) had set specific targets for the respective market participants in the automotive industry to focus on research and development with a goal of boosting successful hydrogen storage technical research. The US DOE encouraged the scientific fraternity by establishing the National Hydrogen Storage Project in the U.S., which would concentrate on hydrogen storage as one of its priorities, in order to meet the relevant long-term objectives.

It must be noted that by 2020, the US DOEs Fuel Cell Technologies Office (FCTO) aims to develop onboard automotive hydrogen storage systems thereby creating opportunities to help hydrogen-fuelled vehicle platforms meet the users performance expectations of time-consuming refueling, occupied passenger and cargo space, overall vehicle performance and range. The FCTO has carried out its RD activities to cultivate new hydrogen storage materials and to develop advances in technology for hydrogen storage systems.

Geographic Coverage

North America Hydrogen Energy Storage Market Revenue and Forecast

Europe Hydrogen Energy Storage Market Revenue and Forecast

Asia Pacific Hydrogen Energy Storage Market Revenue and Forecast

Latin America Hydrogen Energy Storage Market Revenue and Forecast

Middle East and Africa Hydrogen Energy Storage Market Revenue and Forecast

Browse Full Report Originally Published by Credence Research at: https://www.credenceresearch.com/report/hydrogen-energy-storage-market

List of Companies Covered:

FuelCell Energy, Inc.

Linde plc

Air Liquide

ITM Power

Air Products and Chemicals, Inc.


Hexagon Composites ASA

Nel ASA.


Mcphy Energy S.A.

and Others

Key questions answered in this report

What was the market size of hydrogen energy storage market in 2018 and forecast up to 2027?

What are the key factors driving the global hydrogen energy storage market?

What are the key market trends and high-growth opportunities observed in the hydrogen energy storage market?

Which is the largest regional market for hydrogen energy storage market?

Which segment will grow at a faster pace? Why?

Which region will drive the market growth? Why?

Which players are leading the hydrogen energy storage market?

What are the key strategies adopted by the leading players operating in the market?

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Research methodology devised for this study:

Our methodology comprises a blend of primary and secondary research for engineering the market size, shares and estimations for global Hydrogen Energy Storage market specific to key segments, and regional segmentation.

Secondary Research

Some of the basic, but most important sources referred during the study included company annual reports, press releases, and relevant documents throwing light upon the recent developments in the global Hydrogen Energy Storage market. Reliable sources such as scientific journals, university research papers and government websites were equally referred for recognizing business opportunities in various geographical markets and market penetration of various products/services. In addition, paid databases were referred to collect information useful for extensive commercial study of the key players operating in Hydrogen Energy Storage market. In case where no data was available on the public domain, we used modeling and estimates to arrive at comprehensive data sets. Secondary research helped to prepare a base for Hydrogen Energy Storage market study.

Primary Research

The extensive secondary research carried out was complemented by extensive primary research to validate data and analysis. Primary research involved telephonic interviews, e-mail interactions as well as face-to-face interviews with leading industry experts.

The participants tracked for primary interviews include:

Vice President/ CEOs

Marketing/product managers

Market intelligence managers

National sales managers

Purchasing managers


Other stakeholders

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