The global underground hydrogen storage market size is expected to reach 5.05 BCM by 2030. The market is expected to expand at a CAGR of 10.7% from 2023 to 2030. The underground hydrogen storage market is projected to observe significant growth over the estimated period owing to an increase in hydrogen production and a lack of viable alternatives for large-scale hydrogen storage. Underground hydrogen storage is currently the only viable large-scale storage technology for hydrogen due to its ability to safely store large quantities of hydrogen in a compact and secure location. One of the main advantages of underground storage is that it is much safer than above-ground storage as hydrogen has a very low flash point and is highly flammable. Underground storage eliminates the risk of accidents or leaks as the hydrogen is stored deep below the ground in a sealed container. This also means that there is no risk of damage to the surrounding environment or infras
tructure in the event of an accident.
Salt caverns dominated the type segment in 2022 and this segment is expected to maintain its position over the forecast period. Salt caverns are developed from existing salt reserves. Underground salt caverns are considered the best option for bulk hydrogen storage due to their structural strength, which makes caverns capable enough against degradation to ensure the long life of the storage facility.
Demand for underground hydrogen storage is projected to rise over the forecast period owing to the increasing demand for hydrogen and programs to cut carbon emissions. The increasing investments in research and development for underground hydrogen storage in regions like North America, the Middle East & North Africa, and the Asia Pacific are expected to strengthen market growth.
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tructure in the event of an accident.
Salt caverns dominated the type segment in 2022 and this segment is expected to maintain its position over the forecast period. Salt caverns are developed from existing salt reserves. Underground salt caverns are considered the best option for bulk hydrogen storage due to their structural strength, which makes caverns capable enough against degradation to ensure the long life of the storage facility.
Demand for underground hydrogen storage is projected to rise over the forecast period owing to the increasing demand for hydrogen and programs to cut carbon emissions. The increasing investments in research and development for underground hydrogen storage in regions like North America, the Middle East & North Africa, and the Asia Pacific are expected to strengthen market growth.
Underground Hydrogen Storage Market Report Highlights
- In terms of volume, salt caverns in the storage type segment accounted for a prominent share of the market in 2022 and this segment is further expected to witness steady growth over the forecast period
- In 2022, Europe accounted for more than 53.88% share of the overall market. Lower building and operational costs coupled with higher safety offered by salt caverns are expected to result in the growth of the salt caverns storage segment in the underground hydrogen storage market in regional economies
- Various strategic initiatives have been recorded over the past few years to boost the growth of the market. For instance, in January 2021, Storengy and HyPSTER collaborated for an investigation on the conversion of a salt cavern facility to underground hydrogen storage situated in Etrez, France
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Table of Contents
Chapter 1 Methodology & Scope1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 Internal Database
1.3.3 Secondary Sources
1.3.4 Third Party Perspective
1.3.5 Primary Research
1.4 Information Analysis
1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends, & Scope
3.1 Penetration & Growth Prospect Mapping
3.2 Industry Value Chain Analysis
3.3 Regulatory Framework
3.3.1 Standards and Compliances
3.4 Hydrogen Underground Storage Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increase in THE Adoption of hydrogen technologies
3.4.1.2 Lack of Viable Alternatives
3.4.2 Market Restraint Analysis
3.4.2.1 High cost of building and maintenance of Underground Hydrogen Storage
3.4.3 Market Opportunities
3.4.4 INDUSTRY ANALYSIS - PORTER’S
3.4.5 PESTEL ANALYSIS
3.5 Impact of COVID-19 on the Underground Hydrogen Storage Market
3.5.1 Impact Verdict - Medium
3.6 Comparison of Hydrogen Generation Vs Underground Hydrogen Stored
3.7 Number of wells drilled, by region, 2018-2021
3.8 Average spending on wells drilled, by region, 2018-2021 (USD thousand)
Chapter 4 Underground Hydrogen Storage Market: Storage Type Estimates & Trend Analysis
4.1 Underground Hydrogen Storage Market: Storage Type Movement Analysis, 2022 & 2030
4.2 Porous Media Storage
4.2.1 Underground Hydrogen Storage Market estimates and forecasts for Porous Media Storage, 2018 - 2030 (TCM)
4.3 Salt Caverns
4.3.1 Underground Hydrogen Storage Market estimates and forecasts for Salt Caverns, 2018 - 2030 (TCM)
4.4 Engineered Cavities
4.4.1 Underground Hydrogen Storage Market estimates and forecasts for Engineered cavities, 2018 - 2030 (TCM)
Chapter 5 Underground Hydrogen Storage Market: Regional Estimates & Trend Analysis
5.1 Underground Hydrogen Storage Market: Regional Movement Analysis, 2022 & 2030
5.2 North America
5.2.1 North America Underground Hydrogen Storage Market estimates and forecasts, by storage Type, 2018 - 2030 (TCM)
5.2.2 U.S.
5.2.3 U.S. Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.2.4 Canada
5.2.5 Canada Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.3 Europe
5.3.1 Europe Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.3.2 Germany
5.3.3 Germany Underground Hydrogen Storage Market estimates and forecasts, by Storage, 2018 - 2030 (TCM)
5.3.4 France
5.3.5 France Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.3.6 UK
5.3.7 UK Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.4 Asia Pacific
5.4.1 Asia Pacific Underground Hydrogen Storage Market estimates and forecasts, by storage Type, 2018 - 2030 (MCM)
5.4.2 Australia
5.4.3 Australia Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (MCM)
5.4.4 China
5.4.5 China Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (MCM)
5.4.6 India
5.4.7 India Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.4.8 Japan
5.4.9 Japan Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.5 Latin America
5.5.1 Latin America Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.5.2 Mexico
5.5.3 Mexico Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.5.4 Brazil
5.5.5 Brazil Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.6 Middle East and North Africa
5.6.1 Middle East and North Africa Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.6.2 Algeria
5.6.3 Algeria underground hydrogen storage market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.6.4 Egypt
5.6.5 Egypt Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.6.6 Libya
5.6.7 Libya Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
5.6.8 U.A.E.
5.6.9 U.A.E. Underground Hydrogen Storage Market estimates and forecasts, by Storage Type, 2018 - 2030 (TCM)
Chapter 6 Competitive Analysis
6.1 Recent Developments & their Impact on the Industry
6.2 Vendor Landscape
6.2.1 List of Key Distributors & Channel Partners
6.2.2 Company Market Positioning Analysis
Chapter 7 Company Profiles
7.1 Air Products and Chemicals, Inc.
7.1.1 Company Overview
7.1.2 Financial Performance
7.1.3 Product Benchmarking
7.1.4 Strategic Initiatives
7.2 Air Liquide
7.2.1 Company Overview
7.2.2 Financial Performance
7.2.3 Product Benchmarking
7.2.4 Strategic Initiatives
7.3 Linde Plc
7.3.1 Company Overview
7.3.2 Financial Performance
7.3.3 Product Benchmarking
7.3.4 Strategic Initiatives
7.4 Engie
7.4.1 Company Overview
7.4.2 Financial Performance
7.4.3 Product Benchmarking
7.4.4 Strategic Initiatives
7.5 Uniper SE
7.5.1 Company Overview
7.5.2 Financial Performance
7.5.3 Product Benchmarking
7.5.4 Strategic Initiatives
7.6 Texas Brine Company, LLC
7.6.1 Company Overview
7.6.2 Product Benchmarking
7.6.3 Strategic Initiatives
7.7 WSP
7.7.1 Company Overview
7.7.2 Financial Performance
7.7.3 Product Benchmarking
7.7.4 Strategic Initiatives
7.8 NEUMAN & ESSER GROUP
7.8.1 Company Overview
7.8.2 Product Benchmarking
7.8.3 Strategic Initiatives
7.9 Hychico S.A.
7.9.1 Company Overview
7.9.2 Product Benchmarking
List of Tables
Table 1 Underground Hydrogen Storage Market Estimates and Forecasts for Porous Media Storage, 2018 - 2030 (TCM)
Table 2 Underground Hydrogen Storage Market Estimates and Forecasts for Salt Caverns, 2018 - 2030 (TCM)
Table 3 Underground Hydrogen Storage Market Estimates and Forecasts for Engineered Cavities, 2018 - 2030 (TCM)
Table 4 North America underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 5 U.S. underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 6 Canada underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 7 Europe underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 8 Germany underground hydrogen storage market estimates and forecasts, by product, 2018 - 2030
Table 9 France Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 10 UK Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 11 Asia Pacific Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 12 Australia underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 13 China Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 14 India Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 15 Japan underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 16 Latin America Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 17 Mexico Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 18 Brazil Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 19 Middle East and North Africa Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 20 Algeria underground hydrogen storage market estimates and forecasts, by storage type, 2018 - 2030
Table 21 Egypt Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 22 Libya Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
Table 23 UAE Underground Hydrogen Storage Market estimates and forecasts, by storage type, 2018 - 2030
List of Figures
Fig. 1 Underground Hydrogen Storage Market Segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 Market Snapshot
Fig. 7 Segment Snapshot
Fig. 8 Competitive Landscape Snapshot
Fig. 9 Underground Hydrogen Storage Market - Penetration & growth prospect mapping
Fig. 10 Underground Hydrogen Storage Market - Industry value chain analysis
Fig. 11 Marker driver impact analysis
Fig. 12 Market restraints impact analysis
Fig. 13 Underground Hydrogen Storage market analysis - Porter’s five forces
Fig. 14 Underground Hydrogen Storage market analysis - PESTEL analysis
Fig. 15 Hydrogen Generation Market (Million Metric Tons)
Fig. 16 Underground Hydrogen Storage Market: Storage Type Movement Analysis, 2022 & 2030 (Thousand cu m)
Fig. 17 Underground Hydrogen Storage Market: Regional Movement Analysis, 2022 & 2030 (Thousand cu m)
Fig. 18 Four quadrant positioning of vendors
Companies Mentioned
- Air Products and Chemicals, Inc.
- Air Liquide
- Linde Plc
- Engie
- Uniper SE
- Texas Brine Company, LLC
- WSP
- NEUMAN & ESSER GROUP
- Hychico S.A.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 64 |
| Published | January 2023 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 2.47 BCM |
| Forecasted Market Value ( USD | $ 5.05 BCM |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
