Hydrogen Storage Market By Type, By Storage, By End-use Industry : Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

According to a new report published by Allied Market Research, titled, "Hydrogen Storage Market," The hydrogen storage market was valued at $2.8 billion in 2022, and is estimated to reach $8.6 billion by 2032, growing at a CAGR of 12.7% from 2023 to 2032.

Hydrogen storage system refers to the industry involved in the development, manufacture, and distribution of technologies and infrastructure required for the safe and efficient storage of hydrogen. Hydrogen storage systems play a critical role in enabling the utilization of hydrogen as an energy carrier for various applications. Hydrogen energy storage encompasses a range of storage technologies and solutions such as

1) compresses gas storage, liquid storage, metal and chemical hydride storage, and solid-state storage.

The growth in interest in green energy solutions has led to a surge in demand for cylinder hydrogen storage, a method viewed by many as a vital component in the transition to a more sustainable energy future. With the world aggressively moving away from fossil fuels, hydrogen, often hailed as the fuel of the future, finds itself in the spotlight due to its high energy content and clean-burning properties, producing only water as a byproduct. Consequently, effective storage and transport mechanisms for hydrogen have become increasingly crucial, with compressed hydrogen cylinders emerging as a prevalent choice for several reasons.

First, they offer a degree of portability unparalleled by many other storage methods, allowing for easy transport and exchange, facilitating its distribution across diverse sectors and locations. Furthermore, the technology underpinning this form of storage is mature and proven, having been employed in various capacities over the years, thus offering reliability and a degree of familiarity that new technologies may lack. Moreover, the versatility of cylinder storage, adaptable to a multitude of applications ranging from vehicular fueling to backup power sources, makes it an attractive choice for businesses and governments alike. Concurrently, there is an industry-wide push for regularizing safety protocols, ensuring that as cylinder usage grows, so does the commitment to safe handling, storage, and transportation.

However, the most common storage method involves compressing hydrogen to store it under high pressure, usually around 350-700 bar (5,000-10,000 psi). The tanks must be incredibly robust to withstand such pressures, so they are typically constructed using high-strength composite materials such as

1) carbon fibers, which are expensive. The production of these high-pressure tanks is not straightforward. They require specialized manufacturing processes, precision engineering, and quality control, all contributing to higher costs. There is ongoing research into finding more efficient and cost-effective hydrogen storage solutions, such as

1) metal hydrides or chemical storage. Investment in R&D, while essential for future breakthroughs, adds an initial cost that is often reflected in current storage solutions.

Addressing the high costs of hydrogen storage tanks is critical for the broader acceptance and deployment of hydrogen technologies, especially in applications such as

1) transportation where onboard storage space and costs are vital considerations. The limited availability of hydrogen refueling infrastructure poses a significant challenge to the mass adoption of hydrogen as a clean energy carrier, especially in the transportation sector.

The scarcity of refueling stations renders it less convenient for potential users, especially when compared to the ubiquitous gasoline stations or growth in number of electric vehicles charging points while hydrogen offers substantial benefits in terms of emissions and energy density. This lack of infrastructure, in turn, impacts consumer confidence, as potential buyers of hydrogen fuel cell vehicles (FCVs) may be deterred by concerns about refueling availability during longer trips or in remote areas.

On the contrary, the development of low weight hydrogen storage tanks is a critical area of focus for the advancement of hydrogen as a viable energy carrier, especially in the transportation sector. The weight of storage solutions directly impacts vehicle efficiency, range, and overall performance. Traditional high-pressure hydrogen storage tanks primarily utilize carbon fiber composites due to their strength-to-weight ratio. Research is ongoing to enhance the properties of these composites, allowing for thinner, lighter tank walls without compromising safety.

These chemical compounds absorb and release hydrogen, providing a way to store hydrogen at much lower pressures, hence potentially reducing tank weight. Scientists are actively researching lightweight metal hydrides with high storage capacities. These chemical compounds can absorb and release hydrogen, providing a way to store hydrogen at much lower pressures, hence potentially reducing tank weight. Materials such as

1) metal-organic frameworks (MOFs) and covalent organic frameworks (COFs) have shown promise. These structures can trap hydrogen molecules at high densities without requiring the hydrogen to be at high pressures, potentially reducing tank weight. Hence, the development of low weight hydrogen storage tanks will provide lucrative opportunity for the hydrogen storage tanks in automobile industry as the automobile industry is focusing on reducing weight of vehicle to increase the efficiency and overall performance.

The hydrogen storage market is segmented into type, storage form, end-use industry, and region. On the basis of type, the market is categorized into cylinder, merchant, on-site, and on-board. On the basis of storage form, the market is bifurcated into material-based hydrogen storage and physical hydrogen storage. On the basis of end-use industry, the market is classified into chemical, oil refineries, automotive & transportation, metalworking, and others. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydrogen storage market analysis from 2022 to 2032 to identify the prevailing hydrogen storage market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the hydrogen storage market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global hydrogen storage market trends, key players, market segments, application areas, and market growth strategies.

Additional benefits you will get with this purchase are:

Quarterly Update and* (only available with a corporate license, on listed price)
5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
Free Upcoming Version on the Purchase of Five and Enterprise User License.
16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
Free data Pack on the Five and Enterprise User License. (Excel version of the report)
Free Updated report if the report is 6-12 months old or older.
24-hour priority response*
Free Industry updates and white papers.

Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)

Analysis of raw material in a product (by %)
Manufacturing Capacity
Investment Opportunities
Product Life Cycles
Senario Analysis & Growth Trend Comparision
Upcoming/New Entrant by Regions
Technology Trend Analysis
Patient/epidemiology data at country, region, global level
Regulatory Guidelines
Additional company profiles with specific to client's interest
Additional country or region analysis- market size and forecast
Average Selling Price Analysis / Price Point Analysis
Criss-cross segment analysis- market size and forecast
Expanded list for Company Profiles
Historic market data
Import Export Analysis/Data
Key player details (including location, contact details, supplier/vendor network etc. in excel format)

Key Market Segments

By Type

Cylinder
Merchant/bulk
On-Site
On-Board

By Storage

Material
Physical

By End-use Industry

Chemical
Oil refineries
Automotive and transportation
Metalworking
Others

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA

Key Market Players:

Hexagon Composites ASA
Chart Industries, Inc.
Worthington Industries Inc.
Steelhead Composites, Inc.
Linde Plc
Air Liquide
Luxfer Holdings PLC
inoxcva
Pragma Industries
HBank Technologies Inc.

Product Code: A122780

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
3.4. Market dynamics
- 3.4.1. Drivers
  - 3.4.1.1. Increased demand for low-emission fuel
  - 3.4.1.2. * Increased demand from various industries
- 3.4.2. Restraints
  - 3.4.2.1. High cost of composite material-based tanks
- 3.4.3. Opportunities
  - 3.4.3.1. Development of low weight hydrogen storage tanks
3.5. Value Chain Analysis
3.6. Patent Landscape

CHAPTER 4: HYDROGEN STORAGE MARKET, BY TYPE

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Cylinder
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Merchant/bulk
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. On-Site
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. On-Board
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country

CHAPTER 5: HYDROGEN STORAGE MARKET, BY STORAGE

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Material
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Physical
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country

CHAPTER 6: HYDROGEN STORAGE MARKET, BY END-USE INDUSTRY

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Chemical
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Oil refineries
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. Automotive and transportation
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
6.5. Metalworking
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country
6.6. Others
- 6.6.1. Key market trends, growth factors and opportunities
- 6.6.2. Market size and forecast, by region
- 6.6.3. Market share analysis by country

CHAPTER 7: HYDROGEN STORAGE MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Type
- 7.2.3. Market size and forecast, by Storage
- 7.2.4. Market size and forecast, by End-use Industry
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Market size and forecast, by Type
  - 7.2.5.1.2. Market size and forecast, by Storage
  - 7.2.5.1.3. Market size and forecast, by End-use Industry
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Market size and forecast, by Type
  - 7.2.5.2.2. Market size and forecast, by Storage
  - 7.2.5.2.3. Market size and forecast, by End-use Industry
  - 7.2.5.3. Mexico
  - 7.2.5.3.1. Market size and forecast, by Type
  - 7.2.5.3.2. Market size and forecast, by Storage
  - 7.2.5.3.3. Market size and forecast, by End-use Industry
7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Type
- 7.3.3. Market size and forecast, by Storage
- 7.3.4. Market size and forecast, by End-use Industry
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. Germany
  - 7.3.5.1.1. Market size and forecast, by Type
  - 7.3.5.1.2. Market size and forecast, by Storage
  - 7.3.5.1.3. Market size and forecast, by End-use Industry
  - 7.3.5.2. France
  - 7.3.5.2.1. Market size and forecast, by Type
  - 7.3.5.2.2. Market size and forecast, by Storage
  - 7.3.5.2.3. Market size and forecast, by End-use Industry
  - 7.3.5.3. UK
  - 7.3.5.3.1. Market size and forecast, by Type
  - 7.3.5.3.2. Market size and forecast, by Storage
  - 7.3.5.3.3. Market size and forecast, by End-use Industry
  - 7.3.5.4. Spain
  - 7.3.5.4.1. Market size and forecast, by Type
  - 7.3.5.4.2. Market size and forecast, by Storage
  - 7.3.5.4.3. Market size and forecast, by End-use Industry
  - 7.3.5.5. Italy
  - 7.3.5.5.1. Market size and forecast, by Type
  - 7.3.5.5.2. Market size and forecast, by Storage
  - 7.3.5.5.3. Market size and forecast, by End-use Industry
  - 7.3.5.6. Rest of Europe
  - 7.3.5.6.1. Market size and forecast, by Type
  - 7.3.5.6.2. Market size and forecast, by Storage
  - 7.3.5.6.3. Market size and forecast, by End-use Industry
7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Type
- 7.4.3. Market size and forecast, by Storage
- 7.4.4. Market size and forecast, by End-use Industry
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Market size and forecast, by Type
  - 7.4.5.1.2. Market size and forecast, by Storage
  - 7.4.5.1.3. Market size and forecast, by End-use Industry
  - 7.4.5.2. Japan
  - 7.4.5.2.1. Market size and forecast, by Type
  - 7.4.5.2.2. Market size and forecast, by Storage
  - 7.4.5.2.3. Market size and forecast, by End-use Industry
  - 7.4.5.3. India
  - 7.4.5.3.1. Market size and forecast, by Type
  - 7.4.5.3.2. Market size and forecast, by Storage
  - 7.4.5.3.3. Market size and forecast, by End-use Industry
  - 7.4.5.4. South Korea
  - 7.4.5.4.1. Market size and forecast, by Type
  - 7.4.5.4.2. Market size and forecast, by Storage
  - 7.4.5.4.3. Market size and forecast, by End-use Industry
  - 7.4.5.5. Australia
  - 7.4.5.5.1. Market size and forecast, by Type
  - 7.4.5.5.2. Market size and forecast, by Storage
  - 7.4.5.5.3. Market size and forecast, by End-use Industry
  - 7.4.5.6. Rest of Asia-Pacific
  - 7.4.5.6.1. Market size and forecast, by Type
  - 7.4.5.6.2. Market size and forecast, by Storage
  - 7.4.5.6.3. Market size and forecast, by End-use Industry
7.5. LAMEA
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Type
- 7.5.3. Market size and forecast, by Storage
- 7.5.4. Market size and forecast, by End-use Industry
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Brazil
  - 7.5.5.1.1. Market size and forecast, by Type
  - 7.5.5.1.2. Market size and forecast, by Storage
  - 7.5.5.1.3. Market size and forecast, by End-use Industry
  - 7.5.5.2. Saudi Arabia
  - 7.5.5.2.1. Market size and forecast, by Type
  - 7.5.5.2.2. Market size and forecast, by Storage
  - 7.5.5.2.3. Market size and forecast, by End-use Industry
  - 7.5.5.3. South Africa
  - 7.5.5.3.1. Market size and forecast, by Type
  - 7.5.5.3.2. Market size and forecast, by Storage
  - 7.5.5.3.3. Market size and forecast, by End-use Industry
  - 7.5.5.4. Rest of LAMEA
  - 7.5.5.4.1. Market size and forecast, by Type
  - 7.5.5.4.2. Market size and forecast, by Storage
  - 7.5.5.4.3. Market size and forecast, by End-use Industry

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

9.1. Air Liquide
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
9.2. Linde Plc
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
9.3. Worthington Industries Inc.
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
9.4. Luxfer Holdings PLC
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
9.5. Hexagon Composites ASA
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
9.6. Chart Industries, Inc.
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
9.7. inoxcva
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
9.8. HBank Technologies Inc.
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
9.9. Pragma Industries
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
9.10. Steelhead Composites, Inc.
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio