Press release
Global Hydrogen Storage Market Significant Demand by 2022 | Top Companies are Air Liquide, H Bank Technology, The Linde Group, Hexagon Composites ASA, Praxair Technology, Cella Energy Limited, Pragma Industries, VRV S.P.A, McPhy Energy S.A., and Eutectix
Hydrogen storage is an important technology from the point of view of the successful commercialization of vehicles using hydrogen as a fuel and its acceptance on the market. As a result, the growing market for hydrogen-based vehicles is expected to boost demand in the hydrogen market. However, a major technical obstacle is to load adequate quantities of hydrogen on board in different types of vehicles, meeting all the needs of the user like safety, cost, performance of the vehicle and driving without leaving room for passengers has been a big challenge as it could be a restriction for the hydrogen storage market in the future.
Global Hydrogen Storage Market Size
The Global Hydrogen Storage Market should reach nearly USD 5.4 billion by 2021 from USD 3.6 billion in 2016 growing at a compound annual growth rate (CAGR) of 8.1% from 2016 to 2021.
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Drivers and Restraints:
There is growing trend in global demand for energy supply, which could be met with hydrogen as fuel. This in turn would require the hydrogen storage infrastructure, which would stimulate the hydrogen storage market. It is expected that the trend to harvest renewable energy from hydrogen in recent times, coupled with growing demand for energy production and use will boost the hydrogen storage market. It is expected that the growing demand for energy and subsequent hydrogen demand as a fuel to partially meet energy needs in the future will drive the hydrogen storage market in forecasted years. However, as the costs of hydrogen production increase as a result, the hydrogen storage market may be hindered.
Geographic Segmentation:
On the basis of geography, Global Hydrogen Storage Market is segmented into regions such as North America, Latin America, Europe, Middle East and Africa and Asia Pacific. The Asia-Pacific region is expected to dominate the global hydrogen storage market and experience significant growth over the forecast period. Developing markets in China and India are the main reason for Asia-Pacific dominance in the global market. The North American market is expected to follow the Asia Pacific and experience moderate growth over the forecast period. Europe, Latin America, the Middle East and Africa are expected to follow North America during the forecast period.
Key Players in Global Hydrogen Storage Market:
Important players in Global Hydrogen Storage Market include Air Liquide, H Bank Technology Inc., The Linde Group, Hexagon Composites ASA, Praxair Technology, Inc., Cella Energy Limited, Pragma Industries, VRV S.P.A, McPhy Energy S.A., and Eutectix LLC among others.
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Scope of the report:
The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.
The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.
What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.
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Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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