MARKET INTRODUCTION
Hydrogen energy storage is the process in which the surplus of energy created by renewables during low energy demand periods is used to power electrolysis. The process helps in increasing the efficiency of sustainable energy supply systems in the electric grid, transportation fuels, and gas pipeline systems. North America is likely to witness high demand for hydrogen energy storage on account of the increasing use of hydrogen gas in oil refineries and chemical industries in the region. Additionally, stringent regulations and a rise in fuel cell applications are likely to promote the growth of the hydrogen energy storage market.
MARKET DYNAMICS
The global hydrogen energy storage market is anticipated to grow rapidly in the forecast period owing to driving factors such as rising demand for hydrogen in the chemical industry coupled with demand in portable and stationary power applications. However, High capital costs may hamper the growth of the hydrogen energy storage market during the forecast period. On the other hand, hydrogen as a fuel for vehicles is expected to showcase significant growth opportunities for the hydrogen energy storage market in the coming years.
MARKET SCOPE
The "Global Hydrogen Energy Storage Market Analysis to 2028" is a specialized and in-depth study of the energy and power industry with a special focus on the global market trend analysis. The report aims to provide an overview of hydrogen energy storage market with detailed market segmentation by form, storage technology, end user and geography. The global hydrogen energy storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading hydrogen energy storage market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global hydrogen energy storage market is segmented on the basis of form, storage technology, and end user. Based on form, the market is segmented as solid, liquid, and gas. On the basis of the storage technology, the market is segmented as liquefaction, compression, and material based. The market on the basis of the end user is classified as utilities, commercial, and industrial.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global hydrogen energy storage market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The hydrogen energy storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting hydrogen energy storage market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South & Central America after evaluating political, economic, social and technological factors affecting the hydrogen energy storage market in these regions.
MARKET PLAYERS
The reports cover key developments in the hydrogen energy storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from hydrogen energy storage market are anticipated to lucrative growth opportunities in the future with the rising demand for hydrogen energy storage in the global market. Below mentioned is the list of few companies engaged in the hydrogen energy storage market.
The report also includes the profiles of key hydrogen energy storage companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, key developments in the past five years.
- Air Products and Chemicals, Inc.
- Chart Industries, Inc.
- FuelCell Energy, Inc.
- GRZ Technologies Ltd.
- H2GO Power
- Linde PLC
- McPhy Energy S.A.
- Nel ASA
- Plug Power Inc.
- Pragma Industries
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.