Press release
Increasing Use of Hydrogen Storage Tanks in Transportation Sector Driving Hydrogen Storage Market
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Geographically, Asia-Pacific (APAC) held the largest share of the hydrogen storage market in the past and is predicted to dominate the market in the coming years as well. North America is expected to witness the fastest growth in the near future, along with APAC. This is due to the rising requirement for hydrogen-powered cars, which is driven by the availability of proper hydrogen filling infrastructure and strict government regulations in the U.S. The hydrogen storage market in the U.S. is expected to dominate the market in the coming years.
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A key trend in the hydrogen storage market is the rising focus on research & development (R&D) for advancements in the hydrogen storage technology. In recent years, India, the U.S., and the U.K. have been increasingly focusing on R&D activities in order to ensure the development of adequate hydrogen storage for onboard light-duty vehicles, portable power applications, and material-handling equipment. In addition to this, the National Renewable Energy Laboratory, in collaboration with the U.S. Department of Energy, is increasingly focusing on the development of high performance and cost-effective fuel cell and hydrogen technologies.
Market Size Breakdown by Segment
The Hydrogen Storage Market report offers comprehensive market segmentation analysis along with market estimation for the period 2012-2026.
Based on Form
Physical
Material-Based
Based on Type
Cylinder
Merchant/Bulk
On-Board and On-Site
Based on Application
Stationary Power
Portable Power and Transportation
Geographical Analysis
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Russia
Asia-Pacific (APAC)
Japan
China
India
South Korea
Indonesia
Australia
South America
Brazil
Chile
Middle East and Africa (MEA)
Saudi Arabia
Kuwait
Oman
South Africa
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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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