Market Analysis: Global Hydrogen Storage Market
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.
Market Definition: Global Hydrogen Storage Market
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.
- Rising demand for low emission fuels
- Rise in demand for ammonia and methanol
- Increased usage of hydrogen storage tanks in transportation application
- Limited availability of hydrogen refuelling infrastructure in developed economies
Segmentation: Global Hydrogen Storage Market
- Physical Form
- Material based Form
- Oil refining
- General industry
- Metal working
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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
Competitive Analysis: Global Hydrogen Storage Market
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.
Key Market Competitors: Global Hydrogen Storage Market
Few of the major competitors currently working in hydrogen storage market are Air Liquide, Linde plc, Praxair Technology, Inc., Worthington Industries, McPhy Energy S.A., Luxfer Holdings PLC, Hexagon Composites ASA, H Bank Technologies Inc., INOX Group, VRV S.p.A. Cella Energy Inc., American Elements, 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.
Research Methodology: Global Hydrogen Storage Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved