Hydrogen Energy Storage Market (CAGR of 5.7%): Future Prospects, Size and Competitive Analysis 2019 – 2027

The global Hydrogen Energy Storage market is worth US$ 12.96 Bn in 2018 and expected to grow at a CAGR of 5.7% during the forecast period from 2019 to 2027.

Market Insights

“Rising investment in green energy technology is driving”

Growing applications of hydrogen and advancement in technology to store and utilize hydrogen potential are driving the global hydrogen energy storage market.  Increasing the adoption of hydrogen energy as fuel estimated to reduce carbon emission, increasing the reliability of supply, and reduce consumption of conventional fossil fuels. New technologies such as direct injection of hydrogen into the natural gas pipeline referred to as power-to-gas and pre-conversion of hydrogen to methane to avoid various blending issues have a large impact on the application of hydrogen as a fuel; thereby increasing the demand for storage facilities. Further, at the end of 2018, the global FCEV stocks reached at 11,200 units with around 4,000 sales in the same year. China produced over 2000 small trucks. With an increasing number of refueling stations in Japan, Germany, and the U.S. there will be growing sales of FCEV in the coming years. Thereby, influencing the hydrogen energy storage market in the long run.

On the contrary, the high capital cost of hydrogen storage and growing investment in the battery technology expected to restrain the market during the forecast period. Overall, the global hydrogen energy storage market was US$ 12.96 Bn in 2018 and expected to grow at a CAGR of 5.7% from 2019 to 2027. In 2027, the projected size of the global hydrogen energy storage market is estimated at US$ 21.15 Bn.

The overall hydrogen energy storage market is slightly fragmented in nature and it is growing at moderate rate. The growing investment from the government is influencing the market in a positive manner.

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Industrial Developments

  • In March 2019, the U.S. Department of Energy (DOE) announced about US$ 31 million funding to the H2@Scale concept for affordable and reliable large scale hydrogen generation, transport, storage and utilization across multiple sectors and industries of the U.S. This new funding from the government expected to strengthen energy security, resiliency, and strong domestic economy of the U.S.
    • In January 2020, the California Energy Commission (CEC) tabled over US$ 11 million for customer-centric electrolytic hydrogen storage. To have 100% clean energy and diversion of longer duration storage technologies in the state, this funding expected to boom the hydrogen energy storage market in the region.

Key Market Movements:

  • Globally, the hydrogen energy storage market is growing at a CAGR of 5.7% for the period from 2019 to 2027.
    • Based on state, hydrogen energy storage market is segmented into gas, liquid and solid. As storing hydrogen in gas form is the easiest and cost-effective method, the gas segment captured the major share of the market in 2018.
    • Based on storage technology, compression segment expected to register the highest CAGR during the forecast period. The growth of this segment is attributed to the simplest method of storing using compressor and pressure vessel.

List of Companies Covered:

  • FuelCell Energy, Inc.
    • Linde plc
    • Air Liquide
    • ITM Power
    • Air Products and Chemicals, Inc.
    • Hydrogenics
    • Hexagon Composites ASA
    • Nel ASA.
    • PLUG POWER INC.
    • Mcphy Energy S.A.
    • and Others

Key questions answered in this report

  • What was the market size of hydrogen energy storage market in 2018 and forecast up to 2027?
  • What are the key factors driving the global hydrogen energy storage market?
  • What are the key market trends and high-growth opportunities observed in the hydrogen energy storage market?
  • Which is the largest regional market for hydrogen energy storage market?
  • Which segment will grow at a faster pace? Why?
  • Which region will drive the market growth? Why?
  • Which players are leading the hydrogen energy storage market?
  • What are the key strategies adopted by the leading players operating in the market?

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ToC:

  1. Preface
    1.1. Report Description
    1.1.1. Purpose of the Report
    1.1.2. Target Audience
    1.1.3. USP and Key Offerings
    1.2. Research Scope
    1.3. Research Methodology
    1.3.1. Phase I – Secondary Research
    1.3.2. Phase II – Primary Research
    1.3.3. Phase III – Expert Panel Review
    1.3.4. Approach Adopted
    1.3.4.1. Top-Down Approach
    1.3.4.2. Bottom-Up Approach
    1.3.5. Assumptions
    1.4. Market Segmentation
  2. Executive Summary
    2.1. Market Snapshot: Global Hydrogen Energy Storage (HES) Market
    2.2. Global HES Market, by State, 2018 (US$ Bn)
    2.3. Global HES Market, by Storage Technology, 2018 (US$ Bn)
    2.4. Global HES Market, by Storage Type, 2018 (US$ Bn)
    2.5. Global HES Market, by End-use, 2018 (US$ Bn)
    2.6. Global HES Market, by Geography, 2018 (US$ Bn)
  3. Market Dynamics
    3.1. Introduction
    3.1.1. Global HES Market Value, 2017 – 2027, (US$ Bn)
    3.2. Market Dynamics
    3.2.1. Market Drivers
    3.2.2. Market Restraints
    3.3. Attractive Investment Proposition, by Geography, 2018
    3.4. Market Positioning of Key Players, 2018
    3.4.1. Major Strategies Adopted by Key Players
  4. Global Hydrogen Energy Storage (HES) Market, by State , 2017 – 2027 (US$ Bn)
    4.1. Overview
    4.2. Gas
    4.3. Liquid
    4.4. Solid
  5. Global Hydrogen Energy Storage (HES) Market, by Storage Technology, 2017 – 2027 (US$ Bn)
    5.1. Overview
    5.2. Compression
    5.3. Liquefaction
    5.4. Material based
  6. Global Hydrogen Energy Storage (HES) Market, by Storage Type, 2017 – 2027 (US$ Bn)
    6.1. Overview
    6.2. Chemical Storage
    6.3. Physical Storage
    6.4. Stationary Storage
  7. Global Hydrogen Energy Storage (HES) Market, by End-use, 2017 – 2027 (US$ Bn)
    7.1. Overview
    7.2. Oil Refineries
    7.3. Chemical Industry
    7.4. Transportation
    7.5. Steel & Metal Works
    7.6. Power Generation
  8. North America Hydrogen Energy Storage (HES) Market Analysis, 2017 – 2027 (US$ Bn)
    8.1. Overview
    8.1.1. North America HES Market Value and Growth, 2017 – 2027, (US$ Bn)
    8.2. North America HES Market Value, By State, 2017 – 2027 (US$ Bn)
    8.2.1. Market Analysis
    8.3. North America HES Market Value, By Storage Technology, 2017 – 2027 (US$ Bn)
    8.3.1. Market Analysis
    8.4. North America HES Market Value, By Storage Type, 2017 – 2027 (US$ Bn)
    8.4.1. Market Analysis
    8.5. North America HES Market Value, By End-use, 2017 – 2027 (US$ Bn)
    8.5.1. Market Analysis
    8.6. North America HES Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
    8.6.1. Market Analysis
    8.6.2. U.S.
    8.6.3. Rest of North America
  9. Europe Hydrogen Energy Storage (HES) Market Analysis, 2017 – 2027 (US$ Bn)
    ……….
  10. Asia Pacific Hydrogen Energy Storage (HES) Market Analysis, 2017 – 2027 (US$ Bn)
    ………
  11. Rest of the World Hydrogen Energy Storage (HES) Market Analysis, 2017 – 2027 (US$ Bn)
  12. Company Profiles

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DoC: https://issuu.com/robsonspot/docs/hydrogen_energy_storage_market.docx

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