Press release
Hydrogen Storage Industry sector | Key M & A, FY Q2 2025 | Global Forecast & Trends | Leading Companies - Hexagon Composites ASA, Cella Energy Limited, Praxair Technology Inc., VRV SPA, Pragma Industries
Hydrogen Storage Industry
Storing hydrogen as a gas requires high-pressure tanks ranging from 350 to 700 bar. Currently, most automakers use this method, as it allows fuel cell vehicles to carry sufficient hydrogen to travel approximately 500-600 km on a single fill-up.
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Latest M&A
Q1 and Q2 2025 saw strong hydrogen sector deal flow, with 41 deals including M&A, venture financing, and partnerships; storage-specific activity focused on project acquisition, expansion of composite tank manufacturing (notably by Hexagon Purus, Luxfer, and Worthington), and new alliances for underground storage capability.
Notable international players like ITOCHU Corporation, Nel Hydrogen, Norwegian Hydrogen, and Aker Horizons were involved in hydrogen value chain integration, combining generation, storage, and distribution assets for competitive advantage.
The trend is shifting towards more small- and mid-sized project M&A and greater regional diversification, with Europe, North America, and Asia-Pacific leading in active pipeline deals.
Key Players:
Air Liquide, Linde plc, H Bank Technology Inc., Hexagon Composites ASA, Cella Energy Limited, Praxair Technology Inc., VRV SPA, Pragma Industries, Eutectix LLC, and McPhy Energy SA
Investments
Investments are focused on: (1) High-pressure composite tank (Type 4) manufacturing, (2) large-scale underground hydrogen storage demonstration projects (notably in Germany and China for salt caverns and depleted gas fields), and (3) pipeline and port-side hydrogen storage infrastructure to enable import/export and mobility applications.
Major new funding rounds include Sinopec's $690 million hydrogen-focused venture capital and the Indian government's National Green Hydrogen Mission with $2.4 billion allocated to scale storage alongside green hydrogen production.
Growth Forecast Projected:
The Global Hydrogen Storage Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Research Process:
Both primary and secondary data sources have been used in the global Hydrogen Storage Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.
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Key Segments:
By Type: (Physical-Based storage, Material-Based Storage)
By Application: (Transportation, Chemicals, Oil refining, Metal Working),
Regional Analysis for Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Latest News
Germany launched its largest hydrogen storage demonstration project at Storag Etzel in Lower Saxony (May 2025).
India advanced tank and composite material R&D for mobility and grid storage under the Green Hydrogen Mission, with Indian Oil's 10,000 tonne/year green hydrogen plant at Panipat pushing storage technology commercialization.
Hexagon Purus secured major contracts for European public transport and U.S. aerospace, maintaining global competitiveness despite market volatility.
Underground hydrogen storage (UHS) in salt caverns and depleted fields is gaining momentum, with new pilot projects in Europe, the U.S., and China..
Benefits of the Report:
Chapter 1: Sets the stage by outlining the report's coverage, summarizing key market segments by region, product type, and application. Presents a snapshot of market sizes, growth potential across segments, and anticipated industry evolution both short and long term.
Chapter 2: Highlights pivotal market insights and uncovers the most significant emerging trends driving change within the industry.
Chapter 3: Offers an in-depth look at the competitive landscape among Hydrogen Storage producers, including revenue shares, strategic moves, and recent mergers and acquisitions.
Chapter 4: Presents comprehensive profiles of the market's key players, delving into details such as revenue, profit margins, product portfolios, and company milestones.
Chapters 5 & 6: Analyze Hydrogen Storage revenue at both regional and country levels, providing quantitative breakdowns of market sizes, growth opportunities, and development prospects worldwide.
Chapter 7: Focuses on different market segments by type, examining their individual sizes and potential, guiding readers toward high-impact, untapped market areas.
Chapter 8: Explores segmentation by application, evaluating industry growth potential in various downstream markets and pinpointing promising sectors for expansion.
Chapter 9: Provides a thorough review of the industry's supply chain mapping out both upstream and downstream activities.
Chapter 10: Concludes with a summary of the report's key findings and highlights the most critical takeaways for industry stakeholders.
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FAQ's
Q: How fast is the Hydrogen Storage Market growing?
A: The Market is on an impressive growth trajectory, expected to expand at a High CAGR from 2025 to 2032
Key Industry Developments
High-pressure, lightweight composite tanks (Type 4, 700+ bar) are now widely used in heavy-duty vehicles, buses, aerospace applications, and distributed industrial storage.
Hydrogen storage solutions are increasingly incorporating AI, sensors, and advanced process control to enhance safety, enable real-time leak detection, and improve operational efficiency.
The Asia-Pacific region, particularly China, Japan, and India, is rapidly becoming a hub for hydrogen storage manufacturing and innovation, while Europe is focusing on underground hydrogen storage (UHS) and large-scale grid storage solutions.
Regulatory efforts are emphasizing the development of storage infrastructure near ports to support hydrogen trade routes and imports.
Research and development continue to tackle challenges in geological hydrogen storage, including material interactions, containment, pressure cycling, and maintaining hydrogen purity in subsurface environments.
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