Press release
Hydrogen Energy Storage Market Expands to $21.73 Billion by 2029
What Is The Projected Market Size Of The Global Hydrogen Energy Storage Market And Its Growth Rate?
The Hydrogen Energy Storage market has shown a steady increase in size and is projected to continue expanding:
* The market grew from $16.36 billion in 2024 to $17.19 billion in 2025 at a compound annual growth rate (CAGR) of 5.1%.
* The market is forecasted to grow to $21.73 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%.
What Is Driving The Growth In The Hydrogen Energy Storage Market?
The Hydrogen Energy Storage Market is experiencing significant growth, propelled by the expanding aerospace industry. Hydrogen energy storage serves as a clean, efficient energy source for propulsion and power generation in this sector, leading to emission reduction and extended flight durations for aircraft and spacecraft. For instance, Airbus SE, a Netherlands-based aerospace corporation, delivered 661 commercial aircraft to 84 customers in 2022, representing an increase of 8% from the 611 units sold in 2021.
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Who Are the Key Players Driving Hydrogen Energy Storage Market Growth?
Key players operating in the Hydrogen Energy Storage market include:
* Air Liquide
* Plug Power Inc.
* Worthington Industries
* Cummins Inc.
* Linde plc
* Chart Industries Inc.
* Hexagon Composites Nel
* Hydrogenious LOHC Technologies GmbH
* INOXCVA
* Air Products and Chemicals Inc
* H Bank Technologies Inc.
* McPhy Energy SAS
* Luxfer Holdings PLC
* Pragma Industries
* GRZ Technologies SA
* ITM Power plc.
* SunFire GmbH
* Svante Technologies
* Ricardo plc
* Johnson Matthey
* Ionomr Innovations Inc.
* Siemens AG
* FuelCell Energy Inc.
* H2go Power Ltd.
* HyTech Power LLC
* Varea LLC
* ElektrikGreen Inc.
* Redeem Solar Technologies GmbH
* Neom Green Hydrogen Company (NGHC)
What Are The Key Trends In The Hydrogen Energy Storage Market?
Key trends in the Hydrogen Energy Storage Market include:
* Emergence of hydrogen electrolyzers
* Expanding hydrogen infrastructure
* Advancements in hydrogen storage technologies
* Rising usage of hydrogen as a grid balancer
What Are The Segments Of The Global Hydrogen Energy Storage Market?
The Hydrogen Energy Storage market is divided into:
1) By Storage Technology: Compression, Liquefaction, Material Based
2) By State: Liquid, Gas, Solid
3) By End User: Commercial, Industrial, Utilities
Which Region Leads The Hydrogen Energy Storage Market?
In 2024, North America was the largest region in the hydrogen energy storage market. The report covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Hydrogen Energy Storage Market Global Market Report?
- Market Size Analysis: Analyze the Hydrogen Energy Storage Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hydrogen Energy Storage Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hydrogen Energy Storage Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hydrogen Energy Storage Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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