PUBLISHER: The Business Research Company | PRODUCT CODE: 1923246
PUBLISHER: The Business Research Company | PRODUCT CODE: 1923246
Hydrogen energy storage is a method of storing electric power by converting it into hydrogen. This process involves utilizing renewable energy surpluses to power electrolysis during periods of low energy demand. Electrolysis is a technique that separates hydrogen from a chemical solution by applying an electrical current across it.
The primary types of storage technologies in hydrogen energy storage encompass compression, liquefaction, and material-based approaches. Efficient compression technology for hydrogen is crucial to achieve usable levels of energy density. Hydrogen energy can be stored in three states: solid, liquid, and gas. Industries, commercial enterprises, and utility sectors are among the users of hydrogen energy storage.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs have created both challenges and opportunities for the hydrogen energy storage market by increasing the costs of imported compression units, cryogenic tanks, and specialized materials for hydrogen storage. Industrial, utilities, and commercial end-users in Europe, North America, and Asia-Pacific are most affected. The tariffs have disrupted supply chains and led to higher storage solution costs. Positively, this has prompted manufacturers to invest in local production, adopt advanced AI- and IoT-enabled monitoring technologies, and optimize renewable energy integration, enhancing storage efficiency and reducing dependency on imports.
The hydrogen energy storage market research report is one of a series of new reports from The Business Research Company that provides hydrogen energy storage market statistics, including hydrogen energy storage industry global market size, regional shares, competitors with a hydrogen energy storage market share, detailed hydrogen energy storage market segments, market trends and opportunities, and any further data you may need to thrive in the hydrogen energy storage industry. This hydrogen energy storage market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The hydrogen energy storage market size has grown strongly in recent years. It will grow from $16.98 billion in 2025 to $17.92 billion in 2026 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to rise in hydrogen storage adoption for industrial and utility applications, increase in compression and liquefaction technologies, expansion of material-based hydrogen storage, increase in liquid, gas, and solid hydrogen storage solutions, growth in electrolysis-driven storage solutions.
The hydrogen energy storage market size is expected to see strong growth in the next few years. It will grow to $22.31 billion in 2030 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to increase in AI and IoT-enabled hydrogen storage systems, rising deployment of smart energy management, growth in automated safety and performance analytics, expansion in renewable energy-integrated hydrogen storage, increasing adoption of hydrogen storage in commercial and industrial segments. Major trends in the forecast period include deployment of AI-driven hydrogen storage management, implementation of IoT-enabled hydrogen monitoring systems, adoption of smart electrolysis control, expansion of renewable energy-integrated hydrogen storage, integration of automated safety and performance analytics.
The increasing use of hydrogen in oil refineries and the chemical industries is contributing to the growth of the hydrogen energy storage market. Hydrogen is used for processing foods, treating metals, refining petroleum, and producing fertilizers. To lower the sulfur content of fuels in petroleum refineries, use hydrogen. For instance, according to a report published by the American Chemistry Council (ACC), a US-based industry trade association, the ACC anticipates that output will increase by 2.4% in 2023, with the amount spent on capital projects increasing by 5.5% in 2023. Therefore, the growing demand for hydrogen from oil refineries and the chemical industry is expected to drive the growth of the hydrogen energy storage market going forward.
Major companies in the hydrogen energy storage market are advancing technologies, such as bar hydrogen tanks, to enhance the efficiency and safety of hydrogen storage and transport, facilitating the more effective use of hydrogen as a clean energy source. Bar hydrogen tanks are high-pressure storage vessels specifically designed to safely hold hydrogen gas at pressures typically between 350 and 700 bar (approximately 5,000 to 10,000 psi). For example, in April 2024, Voith Group, a Germany-based technology company, launched its hydrogen storage subsidiary, Voith HySTech GmbH, along with the Plug & Drive H2 Storage System. The establishment of Voith HySTech GmbH highlights a growing focus on hydrogen as a viable alternative fuel source, especially in sectors where electrification may not suffice. The Plug & Drive H2 Storage System is a ready-to-install solution designed specifically for heavy-duty vehicles and features integrated 700-bar hydrogen tanks.
In September 2023, Chevron, a U.S.-based integrated energy company focused on low-carbon and hydrogen initiatives, acquired a majority stake in ACES Delta (Advanced Clean Energy Storage project) for an undisclosed sum. This acquisition expands Chevron's presence in the hydrogen energy storage sector by adding large-scale underground hydrogen storage capabilities, strengthens its low-carbon portfolio through seasonal storage of green hydrogen in salt caverns, and supports the development of regional hydrogen hubs in the United States. ACES Delta, based in the U.S., specializes in developing and operating large-scale hydrogen energy storage projects, including solution-mined salt cavern storage and integrated renewable hydrogen production and dispatch systems.
Major companies operating in the hydrogen energy storage market are Air Liquide, Plug Power Inc., Worthington Industries, Cummins Inc., Linde plc, Chart Industries Inc., Hexagon Composites, Hydrogenious LOHC Technologies GmbH, INOXCVA, Air Products and Chemicals Inc., McPhy Energy SAS, Luxfer Holdings PLC, Pragma Industries, GRZ Technologies SA, ITM Power plc., SunFire GmbH, Johnson Matthey, Siemens AG, FuelCell Energy Inc., H2go Power Ltd., HyTech Power LLC, Neom Green Hydrogen Company (NGHC)
North America was the largest region in the hydrogen energy storage market in 2025. The regions covered in the hydrogen energy storage market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hydrogen energy storage market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydrogen energy storage market consists of sales of compression, liquefaction, material-based, and other hydrogen energy storage. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hydrogen Energy Storage Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses hydrogen energy storage market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydrogen energy storage ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The hydrogen energy storage market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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