Press release
Hydrogen Storage Market Size, Share, Growth and Trends, Outlook 2024-2031
Hydrogen Storage Market || 2024-2031
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Market Dynamics:
Energy security and environmental concern are driving the market growth
The drive towards a sustainable energy economy and the substantial rise in global energy consumption have necessitated a shift to alternative energy sources like hydrogen. According to the International Oil and Gas Producers (IOGP) Global Production Report 2019, global oil demand in 2018 was 30% higher than in 2000, and natural gas demand increased by 60% over the same period. This surge highlights the increasing strain on traditional energy sources and underscores the potential of hydrogen as a viable green energy alternative.
Hydrogen, when stored efficiently, offers a higher energy density compared to its gaseous state, making it a promising solution for meeting growing energy demands. The environmental impact of consuming oil and natural gas-including pollution and the contribution to global warming through greenhouse gas emissions-has further accelerated the push towards cleaner fuels.
Government regulations aimed at reducing carbon emissions have spurred interest in hydrogen, particularly for onboard storage in zero-emission vehicles.
This regulatory shift, coupled with the need for cleaner energy sources, is driving innovation in hydrogen storage technologies and is expected to significantly influence market growth in the forecasted period.
Segment Covered in Hydrogen Storage Market:
By Type: Physical-Based storage, Material-Based Storage.
By Application: Transportation, Chemicals, Oil refining, Metal Working.
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Key players involved in Hydrogen Storage Market:
• Linde plc
• Air Liquide
• H Bank Technology Inc.
• Hexagon Composites ASA
• Cella Energy Limited
• Praxair Technology Inc.
• VRV SPA
• Pragma Industries
• Eutectix LLC
• McPhy Energy SA
*Note:
• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.
Regional Analysis:
The Hydrogen Storage Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Hydrogen Storage Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.
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Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
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