Hydrogen Energy Storage Market to Witness Growth by a CAGR of ~5% throughout 2022 – 2030 Owing to the Rising Usage of Stored Hydrogen for Stationery and Backup Power Application

Research Nester published a report titled “Hydrogen Energy Storage Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of theglobalhydrogen energy storage market in terms of market segmentation by state, technology, end user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global hydrogen energy storage market is estimated to occupy a large amount of revenue by growing at a CAGR of ~5% during the forecast period, i.e., 2022 – 2030, owing to the increasing use of stored hydrogen for stationery and backup power application, and rising demand to produce hydrogen using surplus renewable power. Along with these, reduction in consumption of conventional fuels, and declining cost of renewable power generation from solar and wind energy are also assessed to bolster the growth of the market in the upcoming years.

Get the inside scoop with Sample report- https://www.researchnester.com/sample-request-3811

The market is segmented by state, technology and end user. Based on state, the gas segment is anticipated to occupy the largest share during the forecast period on the back of the ease and high cost-effectiveness of storing hydrogen as a gas as compared to its liquefied version. Additionally, by technology, the compression segment is projected to grab the largest share over the forecast period attributing to the extensive use of the technique to store hydrogen for a wide range of mobile applications such as vehicles for road transportation, and stationary application for dispensing hydrogen at refueling stations.

Geographically, the global hydrogen energy storage market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America is evaluated to witness noteworthy growth in the market during the forecast period attributing to the growing strict regulations associated with emission control in the region. Moreover, the market in Asia Pacific region is predicted to gather the largest share in the future ascribing to the reducing costs of electrolyzers and renewable electricity, and growing demand for hydrogen storage in residential, industrial and commercial sectors.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Increasing Usage of Stored Hydrogen for Stationery and Backup Power Application to Drive Market Growth

Since the last decade, the demand for energy has witnessed a notable upsurge. In addition, the governments of several developing and developed nations are also focusing in using alternative source of power generation owing to rising emissions. This is anticipated to give rise to the utilization of hydrogen for several power-based applications, which in turn is evaluated to drive market growth in the near future.

However, stringent rules for producing hydrogen from electrolysis is expected to operate as key restraint to the growth of the global hydrogen energy storage market over the forecast period.

Get the inside scoop with Sample report- https://www.researchnester.com/sample-request-3811

This report also provides the existing competitive scenario of some of the key players of the global hydrogen energy storage market which includes company profiling of Air Liquide SA, Praxair Inc., VRV S.P.A, Linde AG, Hank Technologies Inc., Murphy Energy S.A., Luxfer Holdings PLC, Hexagon Composites ASA, Worthington Industries, Inc., Nel ASA, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hydrogen energy storage market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

About Research Nester:

Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision in order to avoid future uncertainties.

Contact for more Info:

AJ Daniel

Email: info@researchnester.com

U.S. Phone: +1 646 586 9123

U.K. Phone: +44 203 608 5919

Share your love
Christophe Rude

Christophe Rude

Articles: 15888

Leave a Reply

Your email address will not be published. Required fields are marked *