Hydrogen Energy Storage Industry Report 2020 - Rising Investments in Green Energy Technology is Driving the Market
DUBLIN, Feb. 5, 2020 /PRNewswire/ -- The "Global Hydrogen Energy Storage Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
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The global hydrogen energy storage market was worth US$ 12.96 billion in 2018 and is expected to grow at a CAGR of 5.7% from 2019 to 2027. In 2027, the projected size of the global hydrogen energy storage market is estimated at US$ 21.15 billion.
Rising Investments in Green Energy Technology is Driving the Market
Growing applications of hydrogen and advancement in technology to store and utilize hydrogen potential are driving the global hydrogen energy storage market. Increasing the adoption of hydrogen energy as fuel estimated to reduce carbon emission, increasing the reliability of supply, and reduce consumption of conventional fossil fuels.
New technologies such as direct injection of hydrogen into the natural gas pipeline referred to as power-to-gas and pre-conversion of hydrogen to methane to avoid various blending issues have a large impact on the application of hydrogen as a fuel; thereby increasing the demand for storage facilities.
Further, at the end of 2018, the global FCEV stocks reached at 11,200 units with around 4,000 sales in the same yar. China produced over 2,000 small trucks. With an increasing number of refueling stations in Japan, Germany, and the U.S. there will be growing sales of FCEV in the coming years. Thereby, influencing the hydrogen energy storage market in the long run.
On the contrary, the high capital cost of hydrogen storage and growing investment in the battery technology expected to restrain the market during the forecast period.
The overall hydrogen energy storage market is slightly fragmented in nature and it is growing at a moderate rate. The growing investment from the government is influencing the market in a positive manner.
Industrial Developments
-- In March 2019, the U.S. Department of Energy (DOE) announced about US$
31 million funding to the H2@Scale concept for affordable and reliable
large scale hydrogen generation, transport, storage and utilization
across multiple sectors and industries of the U.S. This new funding from
the government expected to strengthen energy security, resiliency, and
strong domestic economy of the U.S.
-- In January 2020, the California Energy Commission (CEC) tabled over US$
11 million for customer-centric electrolytic hydrogen storage. With an
aim to have 100% clean energy and diversion of longer duration storage
technologies in the state, this funding expected to boom the hydrogen
energy storage market in the region.
Key Market Movements
-- Globally, the hydrogen energy storage market is growing at a CAGR of
5.6% for the period from 2019 to 2027.
-- Based on the state, the hydrogen energy storage market is segmented into
gas, liquid and solid. As storing hydrogen in gas form is the easiest
and cost-effective method, the gas segment captured the major share of
the market in 2018.
-- Based on storage technology, the compression segment expected to
register the highest CAGR during the forecast period. The growth of this
segment is attributed to the simplest method of storing using a
compressor and pressure vessel.
Key Topics Covered
1. Preface
2. Executive Summary
2.1. Market Snapshot: Global Hydrogen Energy Storage (HES) Market
2.2. Global HES Market, by State, 2018 (US$ Bn)
2.3. Global HES Market, by Storage Technology, 2018 (US$ Bn)
2.4. Global HES Market, by Storage Type, 2018 (US$ Bn)
2.5. Global HES Market, by End-use, 2018 (US$ Bn)
2.6. Global HES Market, by Geography, 2018 (US$ Bn)
3. Market Dynamics
3.1. Introduction
3.1.1. Global HES Market Value, 2017-2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Hydrogen Energy Storage (HES) Market, by State, 2017-2027 (US$ Bn)
4.1. Overview
4.2. Gas
4.3. Liquid
4.4. Solid
5. Global Hydrogen Energy Storage (HES) Market, by Storage Technology, 2017-2027 (US$ Bn)
5.1. Overview
5.2. Compression
5.3. Liquefaction
5.4. Material based
6. Global Hydrogen Energy Storage (HES) Market, by Storage Type, 2017-2027 (US$ Bn)
6.1. Overview
6.2. Chemical Storage
6.3. Physical Storage
6.4. Stationary Storage
7. Global Hydrogen Energy Storage (HES) Market, by End-use, 2017-2027 (US$ Bn)
7.1. Overview
7.2. Oil Refineries
7.3. Chemical Industry
7.4. Transportation
7.5. Steel & Metal Works
7.6. Power Generation
8. North America Hydrogen Energy Storage (HES) Market Analysis, 2017-2027 (US$ Bn)
9. Europe Hydrogen Energy Storage (HES) Market Analysis, 2017-2027 (US$ Bn)
10. Asia-Pacific Hydrogen Energy Storage (HES) Market Analysis, 2017-2027 (US$ Bn)
11. Rest of the World Hydrogen Energy Storage (HES) Market Analysis, 2017-2027 (US$ Bn)
12. Company Profiles
12.1. FuelCell Energy Inc.
12.2. Linde plc
12.3. Air Liquide
12.4. ITM Power
12.5. Air Products & Chemicals Inc.
12.6. Hydrogenics
12.7. Hexagon Composites ASA
12.8. Nel ASA
12.9. PLUG POWER Inc.
12.10. Mcphy Energy S.A.
For more information about this report visit https://www.researchandmarkets.com/r/lbgumc
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