Hydrogen Energy Storage Market, By Technology, By Application, By Geography

Description

The global hydrogen energy storage market is estimated to be valued at USD 16.70 Bn in 2024 and is expected to reach USD 22.89 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.6% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 16.70 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	4.60%	2031 Value Projection:	US$ 22.89 Bn

Figure. Hydrogen Energy Storage Market Share (%), By Region, 2024

Hydrogen has potential to be an important part of a net zero energy future as it can store excess renewable energy and power transportation, buildings and industry with near-zero emissions. Hydrogen energy storage utilizes hydrogen fuel cells or storage facilities to store energy for later use. With greater deployment of intermittent renewable energy sources like solar and wind power worldwide, large-scale and long-duration hydrogen energy storage systems are gaining more interest to solve energy storage challenges. Governments across countries are implementing policies and programs to develop hydrogen infrastructure and technologies. Rising environmental concerns are also fueling the adoption of clean hydrogen as an alternative fuel.

(Market Dynamics):

The global hydrogen energy storage market is driven by supportive government policies and initiatives aimed at promoting renewable energy integration and reduction of greenhouse gas emissions. Rising demand for efficient energy storage solutions to deal with fluctuations in renewable energy supply is a key growth opportunity. However, high infrastructure setup costs and technological challenges associated with hydrogen production, distribution, and use hamper the market growth. Lack of standards also poses difficulties. The market is expected to gain traction from the increasing deployment of fuel cells in transport sectors, industries adopting hydrogen for heat and power, and use of hydrogen for grid energy storage. The Asia Pacific region offers lucrative prospects due to a rapidly growing renewable energy sector and the presence of leading fuel cell manufacturers in countries such as Japan and South Korea.

(Key Features of the Study):

This report provides in-depth analysis of the global hydrogen energy storage market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global hydrogen energy storage market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ITM Power, Linde plc, Air Liquide, Nel Hydrogen, Siemens Energy, Hydrogenics (Cummins), H2 Storage, First Hydrogen, Lhyfe, HySiLabs, Engie, BP, Shell, ExxonMobil, TotalEnergies, Orsted, Messer Group, Ceres Media, Hyzon Motors, and Plug Power
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global hydrogen energy storage market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hydrogen energy storage market

Detailed Segmentation-

By Technology Insights (Revenue, USD Bn, 2019 - 2031)
- Compressed Hydrogen Storage
- Liquid Hydrogen Storage
- Metal Hydrides
- Chemical Hydrogen Storage
- Others
Application Insights (Revenue, USD Bn, 2019 - 2031)
- Power Generation
- Transportation
- Industrial Uses
- Residential and Commercial
- Others
Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
Key Players Insights
- ITM Power
- Linde plc
- Air Liquide
- Nel Hydrogen
- Siemens Energy
- Hydrogenics (Cummins)
- H2 Storage
- First Hydrogen
- Lhyfe
- HySiLabs
- Engie
- BP
- Shell
- ExxonMobil
- TotalEnergies
- Orsted
- Messer Group
- Ceres Media
- Hyzon Motors
- Plug Power

Product Code: CMI7407

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Technology
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global Hydrogen Energy Storage Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Hydrogen Energy Storage Market - COVID-19
Impact Analysis

5. Global Hydrogen Energy Storage Market, By Technology, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Compressed Hydrogen Storage
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Liquid Hydrogen Storage
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Metal Hydrides
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Chemical Hydrogen Storage
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

6. Global Hydrogen Energy Storage Market, By Application, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Power Generation
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Transportation
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Industrial Uses
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Residential and Commercial
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

7. Global Hydrogen Energy Storage Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - U.S.
  - Canada
Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Sub-regions/Countries
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Technology, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Regions/Countries
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- ITM Power
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Linde plc
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Air Liquide
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Nel Hydrogen
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Siemens Energy
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Hydrogenics (Cummins)
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- H2 Storage
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- First Hydrogen
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Lhyfe
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- HySiLabs
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Engie
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- BP
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Shell
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- ExxonMobil
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- TotalEnergies
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Orsted
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Messer Group
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Ceres Media
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Hyzon Motors
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates
- Plug Power
  - Company Overview
  - Technology Portfolio
  - Recent Developments/Updates

9. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Section

References
Research Methodology
About Us and Sales Contact
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