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Government Initiatives Drive Hydrogen Energy Storage Industry - P&S Intelligence
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Hydrogen energy storage solutions are projected to experience extensive acceptance in the future, owing to reasons, including growing concentration on substitute energy sources, rising expenditure in fuel cell and hydrogen technologies, solid government support, and a hike in the electricity demand.
In the past few years, the U.K., India, the U.S., and several other countries have been increasingly concentrating on research and development activities that would support technological advancement in hydrogen and fuel cell technologies.
In 2022, North America had a considerable market share, and the U.S. was the largest buyer in the continent. The requirement for these solutions is increasing, because of the surging need for hydrogen-powered vehicles motivated by the readiness of hydrogen-filling infrastructure and strict government guidelines in the U.S. on the usage of less-emission-producing cars.
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Hence, growing concentration on substitute energy sources, rising expenditure in fuel cell and hydrogen technologies, and several rules by the government to support hydrogen energy storage, such factors will contribute to the market growth.
Browse more reports:
Hydrogen Market Report - https://www.psmarketresearch.com/press-release/hydrogen-market
Industrial Gases Market Report - https://www.psmarketresearch.com/press-release/global-industrial-gases-market
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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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