Global Hydrogen Energy Storage Market (2022 to 2027) - Growing Commercialization of Power-To-Gas Technologies Presents Opportunities

DUBLIN, Oct. 3, 2022 /PRNewswire/ -- The "Global Hydrogen Energy Storage Market by State (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial), Region - Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The global hydrogen energy storage market is projected to reach USD 119.2 Billion by 2027 from an estimated market size of USD 13.8 Billion in 2022, at a CAGR of 54.0% during the forecast period.

The market has a promising growth potential due to several factors, including the role of hydrogen energy storages playing in carbon emission reduction and Increase in fuel cell based electric vehicles and hydrogen storage infrastructure are driving the hydrogen energy storage market.

Gas: The fastest growing segment of hydrogen energy storage market, by state

Hydrogen as a gas is colorless, highly flammable, and the lightest of all other elements. It is used in the production of synthetic ammonia and methanol, in petroleum refining, in the hydrogenation of organic materials, and in rocket fuels. Hydrogen has the highest energy per mass of any fuel. However, its low ambient temperature density results in a low energy per unit volume, therefore requiring the development of advanced storage methods, which have a potential for higher energy density.

Compression: The fastest growing segment of hydrogen energy storage market, by technology

Compression segment of hydrogen energy storage market will be the fastest growing segment during forecast period. Compression segment majorly caters end users like industrial sectors. Compression is easy and cost-efficient hydrogen storage via compression technology is likely to generate its demand in the hydrogen energy storage market.

Transportation: The fastest growing segment of hydrogen energy storage market, by application

Transportation segment of hydrogen energy storage market will be the fastest growing segment during forecast period. Fuel cell vehicle applications include the use of fuel cells in forklift trucks and other goods handling vehicles, such as airport baggage trucks, light duty vehicles (LDVs), such as cars and vans, buses and trucks, trains and trams, ferries, and smaller boats. Focusing on decarbonizing transportation sector will drive market growth.

Europe: The fastest-growing region in the hydrogen energy storage market

The Europe region is projected to be the fastest-growing market during the forecast period. The growth of the Europe hydrogen energy storage market is expected to be driven by Increase in fuel cell based electric vehicles and hydrogen storage infrastructure.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Market
4.2 Market, by Region
4.3 Europe Market, by End-user and Country
4.4 Market, by State
4.5 Market, by Application
4.6 Market, by End-user

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased Demand for Hydrogen in Industrial Sector
5.2.1.2 Rising Demand for Hydrogen in Stationary and Mobile Power Applications
5.2.1.3 Development of Hydrogen Infrastructure Across Various Countries
5.2.2 Restraints
5.2.2.1 High Capital Costs Associated with Hydrogen Energy Storage
5.2.3 Opportunities
5.2.3.1 Growing Commercialization of Power-To-Gas Technologies
5.2.3.2 Increasing Demand for Hydrogen as Vehicle Fuel
5.2.3.3 Rising Government Initiatives to Support Development of Hydrogen Economy
5.2.4 Challenges
5.2.4.1 Increasing Investments in Battery Storage Technologies
5.2.4.2 Technical Challenges Related to Production of Energy from Hydrogen
5.3 Impact of COVID-19
5.4 Trends/Disruptions Impacting Customers' Businesses
5.4.1 Revenue Shift and New Revenue Pockets in Market
5.5 Pricing Analysis
5.5.1 Indicative Pricing Analysis
5.6 Value Chain Analysis
5.7 Technology Analysis
5.8 Trade Analysis
5.9 Key Conferences & Events, 2022-2023
5.10 Market Map
5.11 Innovations & Patent Registration
5.12 Case Study Analysis
5.12.1 with Renewable Hydrogen Technology, the Electric Hydrogen Partnership Hopes to Repeat Its Success
5.13 Tariffs and Regulatory Framework
5.14 Porter's Five Forces Analysis
5.15 Key Stakeholders & Buying Criteria

6 Hydrogen Energy Storage Market, by State
6.1 Introduction
6.2 Gas
6.2.1 Storing Hydrogen in Gas Form is Cost Efficient
6.3 Liquid
6.3.1 Liquid Hydrogen Has High Energy Density and Wide Industrial Applications
6.4 Solid
6.4.1 Large Quantities of Hydrogen Can be Stored in Smaller Volumes in Solid Form

7 Hydrogen Energy Storage Market, by Technology
7.1 Introduction
7.2 Compression
7.2.1 Compression is Easy and Cost-Efficient Hydrogen Storage Technology
7.3 Liquefaction
7.3.1 Higher Volumetric Storage and Fewer Evaporation Losses to Foster Demand for Liquefaction
7.4 Material Based
7.4.1 Higher Hydrogen Storage Capacity and Greater Reliability of Material-Based Hydrogen Storage Technology are Likely to Drive Its Demand
7.4.2 Metal Hydrides
7.4.2.1 Metal Hydrides Facilitate On-Site Storage of Hydrogen for Extended Period of Time
7.4.3 Carbon Absorption
7.4.3.1 High Interaction Force Between Carbon Atom and Hydrogen Molecule Provides Effective Hydrogen Energy Storage

8 Hydrogen Energy Storage Market, by Application
8.1 Introduction
8.2 Stationary Power
8.2.1 Adoption of Hydrogen Fuel Cells for Back-Up Power Generation During Grid Outages to Boost Market Growth
8.3 Transportation
8.3.1 Focus on Decarbonizing Transportation Sector to Drive Market Growth

9 Hydrogen Energy Storage Market, by End-user
9.1 Introduction
9.2 Electric Utilities
9.2.1 Growing Renewable Power Generation to Drive Demand for Hydrogen Energy Storage Systems
9.3 Industrial
9.3.1 Rising Applications of Hydrogen in Chemicals Industry to Foster Demand for Hydrogen Storage Systems
9.4 Commercial
9.4.1 Use of Hydrogen for Commercial Space Heating to Drive Commercial Segment

10 Regional Analysis

11 Competitive Landscape
11.1 Overview
11.2 Share Analysis of Key Players, 2021
11.3 Market Evaluation Framework
11.4 Segmental Revenue Analysis of Top Market Players
11.5 Recent Developments
11.5.1 Deals
11.5.2 Others
11.6 Competitive Leadership Mapping
11.6.1 Star
11.6.2 Emerging Leader
11.6.3 Pervasive
11.6.4 Participant
11.7 Start-Up/Sme Evaluation Quadrant, 2021
11.7.1 Progressive Company
11.7.2 Responsive Company
11.7.3 Dynamic Company
11.7.4 Starting Block
11.8 Competitive Benchmarking

12 Company Profiles
12.1 Key Players
12.1.1 Siemens Energy
12.1.2 Linde plc
12.1.3 Engie
12.1.4 Air Liquide
12.1.5 Air Products Inc.
12.1.6 Chart Industries
12.1.7 Nel Asa
12.1.8 Hexagon Purus
12.1.9 Fuelcell Energy Inc.
12.1.10 Itm Power
12.1.11 Hydrogenious Lohc Technologies
12.1.11.1 Business and Financial Overview
12.1.12 Genh2
12.1.13 Hygear
12.1.14 Hps Home Power Solutions GmbH
12.1.15 Hydrogen in Motion
12.2 Other Players
12.2.1 Pragma Industries
12.2.2 Inox India Pvt Ltd
12.2.3 Cockerill Jingli Hydrogen
12.2.4 Plug Power
12.2.5 Mcphy Energy S.A.

13 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/9xm4uv

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