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.
View summary of this report @ 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
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/power-generation-and-storage
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
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Germany
o
RoE
·
Asia Pacific
o
India
o
China
o
RoAPAC
·
CSA
·
MEA
Access press release of this report - http://www.grandviewresearch.com/press-release/global-hydrogen-storage-market
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