Global Hydrogen Storage Market Size, Share, Development, Growth and Demand Forecast to 2026

  • ID: 4340316
  • Report
  • Region: Global
  • 105 pages
  • P&S Market Research
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Market Overview

According to the U.S. Department of Energy, hydrogen storage can be described as a key enabling technology for the advancement of hydrogen and fuel cell technologies in applications such as stationary power, portable power and transportation. Hydrogen can be stored either in solid, liquid or gaseous form. For storing hydrogen in gaseous form, high-pressure tanks having 350-700 bar tank pressure is required; whereas for liquid form, storage of hydrogen requires cryogenic temperatures, as the boiling point of hydrogen at one atmosphere pressure is -252.8°C. Hydrogen storage market showcases widespread adoption among the manufacturers due to the low ambient temperatures of hydrogen that result in a low energy per unit volume. This makes them suitable for various applications such as hydrogen production sites, on-board vehicles, hydrogen refueling stations and stationary power sites.

Hydrogen Storage Market

Market Dynamics

The global market for hydrogen storage is expected to witness a CAGR of 7.6% during the forecast period due to the increasing focus of key players to produce alternative renewable energy from fuel cells, hydrogen and oxygen. Additionally, increasing consumption of hydrogen in various end-use sectors including power, energy, transportation, fueling stations, and electronics are expected to bolster the market for hydrogen storage during the forecast period. Based on form of storage, physical storage is expected to be the largest segment in the global hydrogen storage market during the forecast period. Stationary power emanated the largest demand in the global hydrogen storage market. Additionally, the segment is expected to witness the highest demand in the global market for hydrogen storage during the forecast period.

Trends

The key trend observed in the global hydrogen storage market is the increasing focus on R&D for the development of hydrogen storage technology. In the recent years, the U.S., the U.K., and India have been increasingly focusing on R&D activities that would help in technological advancements in hydrogen and fuel cell technologies. This has ensured the development of adequate hydrogen storage for onboard light-duty vehicle, material-handling equipment and portable power applications that would help in fulfilling the targets set by the U.S. Department of Energy.

Another trend observed in the global hydrogen storage market is the increasing adoption of hydrogen storage in solid form. The hydrogen storage market is expected to attract huge investments during the forecast period on account of increasing advancements in the fuel cells and hydrogen technologies, and implementation of favorable government initiatives such as new Funding Opportunity (FOA) to increase the adoption of hydrogen storage technologies across the globe.

Growth Drivers

The factors driving the growth of hydrogen storage market are growing demand for low emission fuels and increasing consumption of ammonia and methanol worldwide. The increasing shift towards lower emission fuels in China, India and South East Asia is likely to drive the growth of hydrogen storage during the forecast period. The increasing implementation of stricter emission standards in countries such as the U.S. and the U.K. would help in creating awareness among consumers towards the significance of clean energy and low emission fuels. Additionally, the increasing demand for hydrogen-powered vehicles in North America and Europe is expected to have a positive impact on the growth of hydrogen storage market during the forecast period on account of easy availability of hydrogen filling infrastructure and stringent government regulations for the use of low emission generating vehicles.

The stringent emission regulations in China, South Korea, Japan and India and the increasing demand for ammonia and methanol would further create demand opportunities in the global hydrogen storage market during the forecast period. North America and Europe are focusing on generating zero-emission hydrogen vehicles for which countries such as the U.S. and the U.K. have launched government funds and programs to encourage more businesses/companies to switch towards hydrogen-fueled vehicles. During May 10, 2016, the U.K. government invested USD2.21 million to bring up an additional 100 hydrogen fuel cell cars and vans in the next few years. This would create growth opportunities for the global hydrogen storage market during the forecast period.

Growth Restraints

The major factor hindering the growth of the global hydrogen storage market include higher initial costs. The higher costs associated with hydrogen storage systems are a major hindrance to the growth of hydrogen storage market in the long run. The processes associated with the extraction of hydrogen are extremely expensive thus, making the gas costly. Therefore, end-use industries prefer alternate solutions over hydrogen energy storage, which are expected to hamper the market growth to a significant level during the forecast period; however, the increase in government investments and the growing persistent advances in research and development (R&D) efforts are expected to reduce the impact on the market in the long run.

The limited availability of hydrogen refueling stations is expected to have a negative impact on the growth of global hydrogen storage market as they are not yet implemented in developing nations. The hydrogen refueling infrastructure in developing nations has still not progressed over the past years due to the high capital costs associated with the setting up of these stations, as the hardware required is more complex than that used with conventional fuels. This is expected to hinder the overall growth of hydrogen storage market during the forecast period.

Competitive Landscape

The global hydrogen storage market is dominated by four major players that account for the majority of the share in the market. Some of the key players in the global market for hydrogen energy storage include Air Liquide SA, Linde AG, Praxair, Inc., Worthington Industries Inc., Mcphy Energy S.A., HBank Technologies Inc., Hexagon Composites ASA, VRV S.p.A. and Inoxcva.

Scope for Customization

Customization is offered as per specific business requirements of clients. Illustrative customization within the scope of this report includes:
  • Period of Analysis - Increase in the study period, including historic and forecast years
  • Geographical Analysis - Increase in country coverage
  • Company Profiles - Wider company coverage in terms of detailed analysis or additional company profiles
  • New custom report - A completely customized report can be provided on the market, specific to a region/ country/ segment
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1. Research Scope And Methodology
1.1 Market Definition
1.2 Research Scope
1.2.1 Market Segmentation By Form Of Storage
1.2.2 Market Segmentation By Type Of Storage
1.2.3 Market Segmentation By Application
1.2.4 Market Segmentation By Region
1.3 Research Methodology And Sources

2. Executive Summary
2.1 Key Findings
2.2 Research Summary

3. Market Outlook
3.1 Introduction
3.2 Trends In The Hydrogen Storage Market
3.2.1 Increasing Focus On R&D For Development Of Hydrogen Storage Technology
3.2.2 Increasing Adoption Of Hydrogen Storage In Solid Form
3.3 Opportunities In The Hydrogen Storage Market
3.3.1 Increasing Government Initiatives For Promoting The Use Of Hydrogen Storage Technologies
3.4 Factors Driving Growth Of The Market And Their Impact On Market Forecast
3.4.1 Growing Demand For Low Emission Fuels
3.4.2 Increasing Consumption Of Ammonia And Methanol Worldwide
3.4.3 Rising Use Of Hydrogen Storage Tanks In Transportation Sector
3.4.4 Impact Analysis Of Drivers On Market Forecast
3.5 Factors Hindering Growth Of The Market And Their Impact On Market Forecast
3.5.1 Higher Costs
3.5.2 Limited Availability Of Hydrogen Refuelling Stations
3.5.3 Impact Analysis Of Restraints On Market Forecast

4. Global Hydrogen Storage Market
4.1 Global Hydrogen Storage Market, By Form Of Storage
4.1.1 Physical Hydrogen Storage
4.1.2 Material-Based Hydrogen Storage
4.2 Global Hydrogen Storage Market, By Type Of Storage
4.2.1 Cylinder Hydrogen Storage
4.2.2 Merchant/Bulk Hydrogen Storage
4.2.3 On-Board Hydrogen Storage
4.2.4 On-Site Hydrogen Storage
4.3 Global Hydrogen Storage Market, By Application
4.3.1 Stationary Power
4.3.2 Portable Power
4.3.3 Transportation
4.4 Global Hydrogen Storage Market, By Region

5. Global Hydrogen Storage Market, By Geography
5.1 Asia-Pacific Hydrogen Storage Market
5.1.1 Asia-Pacific Hydrogen Storage Market, By Form Of Storage
5.1.2 Asia-Pacific Hydrogen Storage Market, By Type Of Storage
5.1.3 Asia-Pacific Hydrogen Storage Market, By Application
5.1.4 Asia-Pacific Hydrogen Storage Market, By Country
5.2 North America Hydrogen Storage Market
5.2.1 North America Hydrogen Storage Market, By Form Of Storage
5.2.2 North America Hydrogen Storage Market, By Type Of Storage
5.2.3 North America Hydrogen Storage Market, By Application
5.2.4 North America Hydrogen Storage Market, By Country
5.3 Europe Hydrogen Storage Market
5.3.1 Europe Hydrogen Storage Market, By Form Of Storage
5.3.2 Europe Hydrogen Storage Market, By Type Of Storage
5.3.3 Europe Hydrogen Storage Market, By Application
5.3.4 Europe Hydrogen Storage Market, By Country
5.4 Middle East And Africa Hydrogen Storage Market
5.4.1 Middle East And Africa Hydrogen Storage Market, By Form Of Storage
5.4.2 Middle East And Africa Hydrogen Storage Market, By Type Of Storage
5.4.3 Middle East And Africa Hydrogen Storage Market, By Application
5.4.4 Middle East And Africa Hydrogen Storage Market, By Country
5.5 South America Hydrogen Storage Market
5.5.1 South America Hydrogen Storage Market, By Form Of Storage
5.5.2 South America Hydrogen Storage Market, By Type Of Storage
5.5.3 South America Hydrogen Storage Market, By Application
5.5.4 South America Hydrogen Storage Market, By Country

6. Porters Analysis
6.1 Porter's Five Forces Of Competitive Position Analysis
6.1.1 Bargaining Power Of Buyers
6.1.2 Bargaining Power Of Suppliers
6.1.3 Threat Of New Entrants
6.1.4 Intensity Of Rivalry
6.1.5 Threat Of Substitutes
6.2 Competitive Positioning Of Global Hydrogen Storage Market, By Application

7. Company Profiles And Strategic Developments
7.1 Key Company Profiles
7.1.1 Air Liquide Sa
7.1.1.1 Business Overview
7.1.1.2 Product And Service Offerings
7.1.2 Linde Ag
7.1.2.1 Business Overview
7.1.2.2 Product And Service Offerings
7.1.3 Praxair, Inc.
7.1.3.1 Business Overview
7.1.3.2 Product And Service Offerings
7.1.4 Worthington Industries Inc.
7.1.4.1 Business Overview
7.1.4.2 Product And Service Offerings
7.1.5 Mcphy Energy S.A.
7.1.5.1 Business Overview
7.1.5.2 Product And Service Offerings
7.1.6 Hbank Technologies Inc.
7.1.6.1 Business Overview
7.1.6.2 Product And Service Offerings
7.1.7 Hexagon Composites Asa
7.1.7.1 Business Overview
7.1.7.2 Product And Service Offerings
7.1.8 Vrv S.P.A.
7.1.8.1 Business Overview
7.1.8.2 Product And Service Offerings
7.1.9 Inoxcva
7.1.9.1 Business Overview
7.1.9.2 Product And Service Offerings
7.1 Strategic Developments In The Global Hydrogen Storage Market

8. Appendix
8.1 List Of Abbreviations

List Of Tables
Table 1: Specific Primary And Secondary Sources Used For This Publication
Table 2: Global Hydrogen Storage Market Snapshot
Table 3: Drivers For The Market: Impact Analysis
Table 4: Restraint For The Market: Impact Analysis
Table 5: Global Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 6: Global Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 7: Global Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 8: Global Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 9: Global Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 10: Global Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 11: Global Hydrogen Storage Market, By Region, $M (2012 - 2015)
Table 12: Global Hydrogen Storage Market, By Region, $M (2016 - 2026)
Table 13: Asia-Pacific Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 14: Asia-Pacific Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 15: Asia-Pacific Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 16: Asia-Pacific Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 17: Asia-Pacific Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 18: Asia-Pacific Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 19: Asia-Pacific Hydrogen Storage Market, By Country, $M (2012 - 2015)
Table 20: Asia-Pacific Hydrogen Storage Market, By Country, $M (2016 - 2026)
Table 21: North America Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 22: North America Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 23: North America Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 24: North America Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 25: North America Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 26: North America Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 27: North America Hydrogen Storage Market, By Country, $M (2012 - 2015)
Table 28: North America Hydrogen Storage Market, By Country, $M (2016 - 2026)
Table 29: Europe Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 30: Europe Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 31: Europe Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 32: Europe Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 33: Europe Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 34: Europe Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 35: Europe Hydrogen Storage Market, By Country, $M (2012 - 2015)
Table 36: Europe Hydrogen Storage Market, By Country, $M (2016 - 2026)
Table 37: Middle East And Africa Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 38: Middle East And Africa Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 39: Middle East And Africa Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 40: Middle East And Africa Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 41: Middle East And Africa Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 42: Middle East And Africa Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 43: Middle East And Africa Hydrogen Storage Market, By Country, $M (2012 - 2015)
Table 44: Middle East And Africa Hydrogen Storage Market, By Country, $M (2016 - 2026)
Table 45: South America Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2015)
Table 46: South America Hydrogen Storage Market, By Form Of Storage, $M (2016 - 2026)
Table 47: South America Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2015)
Table 48: South America Hydrogen Storage Market, By Type Of Storage, $M (2016 - 2026)
Table 49: South America Hydrogen Storage Market, By Application, $M (2012 - 2015)
Table 50: South America Hydrogen Storage Market, By Application, $M (2016 - 2026)
Table 51: South America Hydrogen Storage Market, By Country, $M (2012 - 2015)
Table 52: South America Hydrogen Storage Market, By Country, $M (2016 - 2026)
Table 53: Air Liquide Sa - Key Facts
Table 54: Offerings Of Air Liquide Sa
Table 55: Linde Ag - Key Facts
Table 56: Offerings Of Linde Ag
Table 57: Praxair, Inc. - Key Facts
Table 58: Worthington Industries Inc.- Key Facts
Table 59: Mcphy Energy S.A.- Key Facts
Table 60: Hbank Technologies Inc. - Key Facts
Table 61: Hexagon Composites Asa - Key Facts
Table 62: Vrv S.P.A. - Key Facts
Table 63: Inoxcva - Key Facts

List Of Figures
Fig 1: Research Scope For Global Hydrogen Storage Market
Fig 2: Research Methodology For Global Hydrogen Storage Market
Fig 3: Global Hydrogen Storage Market Split, By Region (2016)
Fig 4: Global Hydrogen Storage Market, $M (2012 - 2026)
Fig 5: Global Hydrogen Storage Market Split, By Form Of Storage (2016)
Fig 6: Global Hydrogen Storage Market, By Form Of Storage, $M (2012 - 2026)
Fig 7: Global Physical Hydrogen Storage Market, $M (2012 - 2026)
Fig 8: Global Material-Based Hydrogen Storage Market, $M (2012 - 2026)
Fig 9: Global Hydrogen Storage Market Split, By Type Of Storage (2016)
Fig 10: Global Hydrogen Storage Market, By Type Of Storage, $M (2012 - 2026)
Fig 11: Glob`Al Cylinder Hydrogen Storage Market, $M (2012 - 2026)
Fig 12: Global Merchant/Bulk Hydrogen Storage Market, $M (2012 - 2026)
Fig 13: Global On-Board Hydrogen Storage Market, $M (2012 - 2026)
Fig 14: Global On-Site Hydrogen Storage Market, $M (2012 - 2026)
Fig 15: Global Hydrogen Storage Market Split, By Application (2016)
Fig 16: Global Hydrogen Storage Market, By Application, $M (2012 - 2026)
Fig 17: Global Hydrogen Storage Market For Stationary Power, $M (2012 - 2026)
Fig 18: Global Hydrogen Storage Market For Portable Power, $M (2012 - 2026)
Fig 19: Global Hydrogen Storage Market For Transportation, $M (2012 - 2026)
Fig 20: Global Hydrogen Storage Market Split, By Region (2016)
Fig 21: Global Hydrogen Storage Market, By Region, $M (2012 - 2026)
Fig 22: Global Hydrogen Storage Market Size (2026)
Fig 23: Asia-Pacific Hydrogen Storage Highlights (2026)
Fig 24: Asia-Pacific Hydrogen Storage Market, $M (2012 - 2026)
Fig 25: North America Hydrogen Storage Highlights (2026)
Fig 26: North America Hydrogen Storage Market, $M (2012 - 2026)
Fig 27: Europe Hydrogen Storage Highlights (2026)
Fig 28: Europe Hydrogen Storage Market, $M (2012 - 2026)
Fig 29: Middle East And Africa Hydrogen Storage Highlights (2026)
Fig 30: Middle East And Africa Hydrogen Storage Market, $M (2012 - 2026)
Fig 31: South America Hydrogen Storage Highlights (2026)
Fig 32: South America Hydrogen Storage Market, $M (2012 - 2026)
Fig 33: Porter's Five Forces Of Competitive Position Analysis
Fig 34: Competitive Positioning Of Global Hydrogen Storage Market, By Application
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