logo
logo
Sign in

Global Hydrogen Storage Market is Expected to Generate Huge Profits by 2026

avatar
Sam Karan
Global Hydrogen Storage Market is Expected to Generate Huge Profits by 2026

The hydrogen storage market size was USD 415.8 Million in 2015 and is projected to reach USD 969.6 Million by 2026, registering a CAGR of 8.1% between 2016 and 2026.

The report "Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026"

Get PDF brochure of the report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=15698551

Browse 69 market data tables and 40 figures spread through 141 pages and in-depth TOC on “Hydrogen Storage Market

Rising demand for transportation fuels, increase in oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels are some of the factors driving the growth of the hydrogen storage market.

Physical form is the largest segment of the hydrogen storage market.

Physical form is the largest storage form segment of the hydrogen storage market. Physical form of storage includes storing hydrogen in tanks, which are used in various end-use applications, such as ammonia production, crude oil refining, metal working, glass production, and transportation. The physical form segment is driven by the rise in hydrogen demand from refineries due to poor quality crude, stringent regulations on emission by developed countries, and rise in demand for transportation fuel.

On-board segment is expected to witness the highest growth

By type of storage, the on-board segment of the market is expected to witness the highest growth during the forecast period. This segment is driven by the rise in production of transportation fuel cells for applications, such as submarines, ships & boats, and buses among others. The development of hydrogen powered vehicles in Japan and South Korea has also contributed to this segment’s growth.

Asia-Pacific is the largest market for hydrogen storage

Asia-Pacific is the largest and the fastest-growing regional segment of the hydrogen storage market. This growth is mainly attributed to the strong demand for ammonia and methanol from the region’s developing countries, such as China, India, and Malaysia. China’s stringent regulations on oil refineries for producing cleaner fuels are expected to further boost the demand for hydrogen storage in this region.

The key players in the hydrogen storage market are Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), Luxfer Holdings Plc (U.K.), McPhy Energy S.A. (France), HBank Technologies Inc. (Taiwan), INOXCVA (India), VRV S.p.A. (Italy), and Hexagon Composites ASA (Norway).

Early buyers will receive 10% free customization on this report.

Don't miss out on business opportunities in Hydrogen Storage Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=15698551

About MarketsandMarkets 

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. 

Contact:
Mr. Sanjay Gupta
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]

collect
0
avatar
Sam Karan
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more