Press release
Hydrogen Storage Market is expected to reach USD 5.4 billion by 2021 | Key players are Panasonic, Toshiba, General Motors, H2ME, Air Liquide, Linde AG, Praxair Inc., INOXCVA, VRV S.p.A
According to the research report, The Global Hydrogen Storage Market Size 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.
Hydrogen Storage Market Overview:
The hydrogen storage market is accelerated to have a sustainable growth rate during the forecast period. They are chemical compounds that release hydrogen when heated. Hydrogen stored in the underground is useful in providing grid energy storage for wind power and also provide fuel for transportation such as ships and airplanes.
In the process of liquefaction of the hydrogen, there will be a huge energy loss so there is need of insulated tanks to store the gas. The storage of hydrogen process is completely different as of to prevent from boil-off and as it is very poor density by volume though have higher density by weight. The performance of the hydrogen storage goes with the chemical storage which involve in hydrolysis reactions.
Browse details of 163 numbers of pages research report developed on Hydrogen Storage Market @ https://www.researchcosmos.com/reports/global-hydrogen-storage-materials-market-analysis-with-forecasts-to-2022-growth-opportunities/753726285
Hydrogen Storage Market Growth Drivers and Restraints:
The growing need for consumption of electricity is the main driving factor for the market to grow as it hydrogen storage generates continuous electricity if the fuel is supplied appropriately. In addition, the rising demand from the transportation applications such as buses, trains, submarines, ships and boats is accelerating the growth of the market.
However, the cost for manufacturing of the storage tanks is little expensive, which is declining the growth of the market. The rising technical issues while loading high quantity of the hydrogen gas is remained as a challenging attribute for the developers in this market.
The wide opportunities for the hydrogen storage market lies in the developments of the equipments with the innovative techniques and also implementing hydrogen fuel application globally. The support from the government and also launching strict rules and regulations with the concern of environment safety is also set to surge the growth rate of the market.
Hydrogen Storage Market Regional Analysis:
Regionally, the hydrogen storage market is led by North America. The adoption of the advanced technology in introducing various techniques for storing the gas and also rise in the investments of the government is ascribed to bolster the demand of the market in this region. Asia Pacific is following North America in holding the highest shares of the market with the increase in the consumption rate of the fuels by vehicles. Europe and Middle East & Africa are eventually building the growth rate of this market.
Ask Free Sample of the report @ https://www.researchcosmos.com/request/global-hydrogen-storage-materials-market-analysis-with-forecasts-to-2022-growth-opportunities/753726285
Hydrogen Storage Market Key Players:
Panasonic, Toshiba, General Motors, H2ME, Air Liquide, Linde AG, Praxair Inc., INOXCVA, VRV S.p.A. and Hexagon Composites ASA are some key players in the hydrogen storage market.
Hydrogen Storage Market Segmentation:
By Storage:
• Physical Storage
• Liquid Hydrogen for Space Exploration
• Underground Hydrogen
• Chemical or Material
• Nanoconfinement
• Liquid Organic Hydrogen Carriers
By End User:
• Chemical Industry
• Oil Refining Industry
• Metal Processing Industry
• Transportation and Mobility Sector
By Application:
• Stationary Power
• Portable Power
• Transportation
By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
For any queries, inquire more @ https://www.researchcosmos.com/inquire/global-hydrogen-storage-materials-market-analysis-with-forecasts-to-2022-growth-opportunities/753726285
About Us:
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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Research Cosmos
www.researchcosmos.com
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