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PUBLISHER: IMARC | PRODUCT CODE: 1287540
PUBLISHER: IMARC | PRODUCT CODE: 1287540
Hydrogen Energy Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 145 Pages
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The global hydrogen energy storage market size reached US$ 18.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 26.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.08% during 2023-2028.
Hydrogen energy storage (HES) is a process involving the utilization of power electrolysis through the surplus energy generated by renewables during the low energy demand. It assists in increasing the reliability of supply and reducing carbon emissions and the overall consumption of conventional petroleum fuels. It provides ancillary grid services and fuel for material handling equipment (MHE), such as forklifts and airport tugs. It also offers high storage capacity as compared with pumped storage hydropower (PSH) and compressed air energy storage (CAES). As a result, HES is used to store hydrogen as compressed gas, cryogenic liquid, and loosely bonded hydride compounds.
Hydrogen Energy Storage Market Trends:
The growing demand for HES to utilize excess electric energy represents one of the key factors driving the market. Moreover, its increasing application in stationary power for providing clean, efficient, and reliable off-grid power to homes, businesses, and utilities is propelling the market growth. In addition, there is a rise in the employment of hydrogen as a fuel as it does not emit greenhouse gases and harmfully affects the environment. This, along with the augmenting use of hydrogen as a fuel cell in electric vehicles (EVs), is contributing to the growth of the market. Besides this, HES offers multiple opportunities to increase resiliency and improve the economics of energy supply systems comprising electric grid and gas pipelines. This, coupled with stringent regulations imposed by the government of several countries to encourage the use of sustainable energy sources, is positively influencing the market. Furthermore, key market players are extensively investing in research and development (R&D) activities to develop enhanced equipment for improving the production efficiency of hydrogen.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hydrogen energy storage market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, technology, application and end user.
Breakup by Product Type:
Liquid
Solid
Gas
Breakup by Technology:
Compression
Liquefaction
Material Based
Breakup by Application:
Stationary Power
Transportation
Breakup by End User:
Industrial
Commercial
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Liquide, Air Products Inc., Caterpillar Inc., Chart Industries Inc., Cummins Inc., H2go Power, Hexagon Composites ASA, ITM Power, Linde plc, McPhy Energy S.A., Plug Power Inc. and Pragma Industries.
Key Questions Answered in This Report:
- How has the global hydrogen energy storage market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global hydrogen energy storage market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global hydrogen energy storage market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR1623A297_Report
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Hydrogen Energy Storage Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Liquid
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Solid
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Gas
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Compression
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Liquefaction
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Material Based
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
8 Market Breakup by Application
- 8.1 Stationary Power
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Transportation
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by End User
- 9.1 Industrial
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Commercial
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Air Liquide
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.2 Air Products Inc.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Caterpillar Inc.
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.3.3 Financials
- 15.3.3.4 SWOT Analysis
- 15.3.4 Chart Industries Inc.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 Cummins Inc.
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 H2go Power
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.7 Hexagon Composites ASA
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8 ITM Power
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 Linde plc
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 McPhy Energy S.A.
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.11 Plug Power Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.12 Pragma Industries
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.1 Air Liquide
Product Code: SR1623A297_Report
List of Figures
- Figure 1: Global: Hydrogen Energy Storage Market: Major Drivers and Challenges
- Figure 2: Global: Hydrogen Energy Storage Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Hydrogen Energy Storage Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Hydrogen Energy Storage Market: Breakup by Product Type (in %), 2022
- Figure 5: Global: Hydrogen Energy Storage Market: Breakup by Technology (in %), 2022
- Figure 6: Global: Hydrogen Energy Storage Market: Breakup by Application (in %), 2022
- Figure 7: Global: Hydrogen Energy Storage Market: Breakup by End User (in %), 2022
- Figure 8: Global: Hydrogen Energy Storage Market: Breakup by Region (in %), 2022
- Figure 9: Global: Hydrogen Energy Storage (Liquid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Hydrogen Energy Storage (Liquid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Hydrogen Energy Storage (Solid) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Hydrogen Energy Storage (Solid) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Hydrogen Energy Storage (Gas) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Hydrogen Energy Storage (Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Hydrogen Energy Storage (Compression) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Hydrogen Energy Storage (Compression) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Hydrogen Energy Storage (Liquefaction) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Hydrogen Energy Storage (Liquefaction) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Hydrogen Energy Storage (Material Based) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Hydrogen Energy Storage (Material Based) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Hydrogen Energy Storage (Stationary Power) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Hydrogen Energy Storage (Stationary Power) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Hydrogen Energy Storage (Transportation) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Hydrogen Energy Storage (Transportation) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Hydrogen Energy Storage (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Hydrogen Energy Storage (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Hydrogen Energy Storage (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Hydrogen Energy Storage (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: North America: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: North America: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: United States: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: United States: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Canada: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Canada: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Asia-Pacific: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Asia-Pacific: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: China: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: China: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Japan: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Japan: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: India: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: India: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: South Korea: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: South Korea: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Australia: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Australia: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Indonesia: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Indonesia: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Others: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Others: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Europe: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Europe: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Germany: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Germany: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: France: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: France: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: United Kingdom: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: United Kingdom: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Italy: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Italy: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Spain: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Spain: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Russia: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Russia: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Others: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Others: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Latin America: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Latin America: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Brazil: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Brazil: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Mexico: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Mexico: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Others: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Others: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Middle East and Africa: Hydrogen Energy Storage Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Middle East and Africa: Hydrogen Energy Storage Market: Breakup by Country (in %), 2022
- Figure 77: Middle East and Africa: Hydrogen Energy Storage Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Global: Hydrogen Energy Storage Industry: SWOT Analysis
- Figure 79: Global: Hydrogen Energy Storage Industry: Value Chain Analysis
- Figure 80: Global: Hydrogen Energy Storage Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Hydrogen Energy Storage Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Hydrogen Energy Storage Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
- Table 3: Global: Hydrogen Energy Storage Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 4: Global: Hydrogen Energy Storage Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Hydrogen Energy Storage Market Forecast: Breakup by End User (in Million US$), 2023-2028
- Table 6: Global: Hydrogen Energy Storage Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Hydrogen Energy Storage Market: Competitive Structure
- Table 8: Global: Hydrogen Energy Storage Market: Key Players
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