Hydrogen Storage Market Forecast to 2024 | Key Vendors are Panasonic, Toshiba, General Motors, Air Liquide, Praxair, Inc, INOXCVA

Rising energy security concerns subject to inefficient plant operations and depleting conventional assets will positively drive the global hydrogen storage market size from 2016 to 2024. In 2017, Israel based GenCell and the U.S. based San Diego Gas & Electric have announced strategic partnership to establish fuel cells to its substations.

Ask for full Toc of the report @ www.gminsights.com/request-toc/upcoming/1245

Technological advancement in addition to growing fuel cell demand will positively pivot the global hydrogen storage market. Growing investments across research and development of fuel cell technology lays ground for industry expansion. In 2017, Kia Motors based in South Korea declared the development of H2 based hybrid automobile fuel cell system driving clean fleet implementation.

Rising global supply security concerns coupled with inclination towards reducing dependence on foreign oil reserves in the U.S. and China will thrust the global hydrogen storage market. In China, declining oil prices have led domestic crude oil producers to lower their investments and production leading to increased imports, escalating the need for effective alternative source.

Based on technology, the global hydrogen storage market can be segmented as liquid hydrogen, compressed gaseous hydrogen, metal hydrides, carbon absorption and microspheres. Liquid H2 is set to grow substantially with global demand for clean and effective energy source. In 2017, European regulators have proposed to replace its conventional coal fired power plant by a H2 powered electrochemical generating station to electrify Longyearbyen. The compressed gaseous hydrogen market is anticipated to grow appreciably with increasing industrialization and rising adaption of fuel cell technology. In 2017, the U.S. based Praxair Inc. and Dow Chemical Co. have signed agreement towards H2 facility, owing to Dow’s Ethylene Production plant in the country.

Metal hydride storage industry is anticipated to grow moderately owing to its ongoing global research and efficient technology. In 2017, the U.S. based National laboratories in collaboration with Sandia National laboratories have developed an efficient H2 storage technology powered by metal hydrides. Carbon absorption is set to witness substantial growth owing to its enhanced technology in comparison to conventional H2 storage technology. In 2017, Researchers at Georgia Tech, have introduced a CHAMP reactor creating H2 integrating carbon absorption technology.

The U.S. hydrogen storage market is predicted to grow prominently due to rigorous research and growing effective and efficient energy source demand. In 2017, Netherland based Royal Dutch Shell Inc. in collaboration with Japanese firm Toyota have proposed set up of H2 fueling systems for cars.

China hydrogen storage market is anticipated to grow substantially owing to growing demand for clean and effective energy. Growing concern towards foreign oil dependency will further augment the industrial outlook. In 2017, the U.S. based Ballard Power System have entered in an agreement with Chinese firm Broad-ocean Motor Co. for manufacture and sales of fuel cells.

In Europe, the growing energy security concerns adhering to increased demand for energy efficient technology which in turn will propel hydrogen storage market. In 2017, Hydrogen mobility Europe, a European car manufacturer unveiled deployment of its latest fuel cell vehicle in France, Germany and UK.

Japan hydrogen storage market depicts significant growth pertaining to rigorous research initiatives adhering to energy security concern. In 2017, regulators have announced to spend USD 400 million on H2 stations and fuel cell subsidies in consideration to Tokyo Olympics in 2020.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1245

The key players operating in hydrogen storage market are namely Panasonic, Toshiba, General Motors, H2ME, Air Liquide, Linde AG, Praxair Inc., INOXCVA, VRV S.p.A., Hexagon Composites ASA characterized with wide Technology offerings. Rigorous research based investments and cost effective technology initiations coupled with mergers and service agreements are the backbone for the Industry within forecast period. In 2017, the U.S. based General Motors and Japanese firm Honda accepted a partnership agreement for a collaborated H2 fuel cell research and manufacture.

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://cmferesearch.com/category/energy-and-power/

This release was published on openPR.