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Global Hydrogen Storage Market Size, Share, Development, Growth and Demand Forecast to 2026 - Industry Insights by Form of Storage (Physical, Material-based), by Application (Stationary Power, Portable Power and Transportation)

08-13-2019 01:01 PM CET | Energy & Environment

Press release from: Power & Energy -P&S Intelligence

Global Hydrogen Storage Market Size, Share, Development,

The increasing demand for low-emission fuels and rising adoption of hydrogen storage tanks in the transportation sector are two of the key factors contributing to the growth of the hydrogen storage market. In 2016, the market generated revenue of $477.7 million, and it is expected to attain a size of $991.7 million by 2026, progressing at a CAGR of 7.6% during 2016–2026 (forecast period). Hydrogen storage is a technology, essential for the development of hydrogen and fuel cell technologies in applications such as portable power, stationery power, and transportation.

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Based on type of storage, the hydrogen storage market is categorized into cylinder, on-board, on-site, and merchant/bulk. Out of these, during the historical period (2012–2015), the cylinder category dominated the market in terms of revenue, and it is predicted to maintain its dominance during the 2016–2026 period. This is attributed to the rising demand for cylinder-based hydrogen from the food, metal working, and electronics sectors. Gaseous hydrogen is mainly stored in cylinders at 150–200 bar pressure and under ambient temperature of 298 K.
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Asia-Pacific standing as the largest market for hydrogen storage solutions

Asia-Pacific (APAC) led the hydrogen storage market in terms of value, and China was the largest revenue generator within the region during the historical period. The U.S. was the major revenue generator in the North American market, while Germany led the market in the European region. Saudi Arabia dominated the Middle Eastern and African (MEA) market, while Brazil accounted for the largest revenue share in South America

The key players in the hydrogen storage market include Linde AG, Air Liquide S.A., Worthington Industries Inc., Praxair Inc., HBank Technologies Inc., McPhy Energy S.A., VRV S.p.A., Hexagon Composites ASA, and INOXCVA.

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Contracts and agreements have been the major developments in the global hydrogen storage market in recent years. Worthington Industries Inc., Praxair Inc., and Linde AG are some of the companies that signed new agreements for the development of hydrogen storage technologies around the world.

Table of Content

Chapter 1. Research Scope and Methodology

1.1 Market Definition

1.2 Research Scope

1.2.1 Market Segmentation by Form of Storage

1.2.2 Market Segmentation by Type of Storage

1.2.3 Market Segmentation by Application

1.2.4 Market Segmentation by Region

1.3 Research Methodology and Sources

Chapter 2. Executive Summary

2.1 Key Findings

2.2 Research Summary

Chapter 3. Market Outlook

3.1 Introduction

3.2 Trends in the Hydrogen Storage Market

3.2.1 Increasing Focus on R&D for Development of Hydrogen Storage Technology

3.2.2 Increasing Adoption of Hydrogen Storage in Solid Form

3.3 Opportunities in the Hydrogen Storage Market

3.3.1 Increasing Government Initiatives for Promoting the Use of Hydrogen Storage Technologies

3.4 Factors Driving Growth of the Market and their Impact on Market Forecast

3.4.1 Growing Demand for Low Emission Fuels

3.4.2 Increasing Consumption of Ammonia and Methanol Worldwide

3.4.3 Rising Use of Hydrogen Storage Tanks in Transportation Sector

3.4.4 Impact Analysis of Drivers on Market Forecast

3.5 Factors Hindering Growth of the Market and their Impact on Market Forecast

3.5.1 Higher Costs

3.5.2 Limited Availability of Hydrogen Refuelling Stations

3.5.3 Impact Analysis of Restraints on Market Forecast

Chapter 4. Global Hydrogen Storage Market

4.1 Global Hydrogen Storage Market, by Form of Storage

4.1.1 Physical Hydrogen Storage

4.1.2 Material-Based Hydrogen Storage

4.2 Global Hydrogen Storage Market, by Type of Storage

4.2.1 Cylinder Hydrogen Storage

4.2.2 Merchant/Bulk Hydrogen Storage

4.2.3 On-Board Hydrogen Storage

4.2.4 On-Site Hydrogen Storage

4.3 Global Hydrogen Storage Market, by Application

4.3.1 Stationary Power

4.3.2 Portable Power

4.3.3 Transportation

4.4 Global Hydrogen Storage Market, by Region

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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