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Market Research Report
Hydrogen Storage Market Analysis By Type (Physical Based, Material Based), By Application (Stationary Power, Portable Power, Transportation), Trends & Dynamics, Competitive Landscape, And Segment Forecasts, 2014 - 2025 |
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| Published by | Grand View Research, Inc. | Product code | 408971 | ||||
| Published | Content info | 80 Pages Delivery time: 1-2 business days |
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| Hydrogen Storage Market Analysis By Type (Physical Based, Material Based), By Application (Stationary Power, Portable Power, Transportation), Trends & Dynamics, Competitive Landscape, And Segment Forecasts, 2014 - 2025 | ||
| Published: December 2, 2016 | Content info: 80 Pages |
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The global hydrogen storage market size is expected to reach USD 6.47 billion by 2025, according to a new report by Grand View Research, Inc. Favorable government regulations from U.S. DoE for producing alternative energy as fuel is expected to drive the market over the forecast period. Growing population and disposable income is projected to propel the market growth over the coming years.
Rising concern for the production cost of hydrogen is projected to be a major challenge for demand. Increasing need for energy supply in power & energy sectors is anticipated to drive the growth for hydrogen storage systems. Rising focus to generate energy from renewable sources is expected to augment the market positively.
The shift in trend towards producing alternative renewable energy from fuel cells, oxygen, and hydrogen is projected to propel the market. Increasing demand for power consumption on account of rapid urbanization and industrialization is anticipated to drive H2 storage over the coming years.
Companies such as Cella Energy Ltd and Eutectix LLC have tie-ups with hydrogen generation and automobile companies local for the distribution of hydrogen storage. Most of the companies have adopted partnership strategies with Defense & Aerospace to enhance the hydrogen storage technology.
