The global hydrogen storage market size
is expected to reach USD 6.47 billion by 2025, according to a new report by
Grand View Research, Inc. Favorable government regulations from U.S. DoE for
producing alternative energy as fuel is expected to drive the market over the
forecast period. Growing population and disposable income is projected to
propel the market growth over the coming years.
Rising concern for the production cost of
hydrogen is projected to be a major challenge for demand. Increasing need for
energy supply in power & energy sectors is anticipated to drive the growth
for hydrogen storage systems. Rising focus to generate energy from renewable
sources is expected to augment the market positively.
The shift in trend towards producing alternative
renewable energy from fuel cells, oxygen, and hydrogen is projected to propel
the market. Increasing demand for power consumption on account of rapid
urbanization and industrialization is anticipated to drive H2 storage over the
coming years.
Companies such as Cella Energy Ltd and
Eutectix LLC have tie-ups with hydrogen generation and automobile companies
local for the distribution of hydrogen storage. Most of the companies have
adopted partnership strategies with Defense & Aerospace to enhance the
hydrogen storage technology.
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http://www.grandviewresearch.com/industry-analysis/hydrogen-storage-market
http://www.grandviewresearch.com/industry-analysis/hydrogen-storage-market
Further key Findings From the Study Suggest:
· Physical based segment dominated the
hydrogen storage type in 2015 accounting for over 72.6% of the global
industry
· Increased demand of hydrogen as compressed
gas and liquid hydrogen is expected to boost the physical hydrogen storage
market
· Technologies such as metal hydrides,
adsorbent, and chemical hydrogen storage among others are used to store
hydrogen as material based
· Stationary segment is expected to be the
largest hydrogen storage application by 2025 accounting for over 75.5% of the
global industry.
· Increasing demand for stored hydrogen in
power, energy, transportation, fuelling stations, and electronic sectors is
anticipated to augment the market growth
· Asia Pacific regional segment is expected
to grow at a significant rate of 5.9% over the forecast period owning to
growing demand for H2 and
fuel cells
· Rising investment in hydrogen storage
materials, development and R&D of technologies is expected to propel the
market over the coming years
Grand View Research has segmented the
hydrogen storage market on the basis of type, application, and region:
Type Outlook By Revenue (USD Million,
2014-2025)
·
Physical Based
·
Material Based
Application Outlook By Revenue (USD
Million, 2014 - 2025)
·
Stationary Power
·
Portable Power
·
Transportation
Regional Outlook By Revenue (USD Million,
2014-2025)
·
North America
·
Europe
·
Asia Pacific
·
CSA
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
