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
Based on Type
On-Board and On-Site
Based on Application
Portable Power and Transportation
Middle East and Africa (MEA)
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