Feb 7, 2020   SOURCE: BusinessWire

Global Hydrogen Energy Storage Market Expected to Reach a Value of US $21.15 Billion in 2027 - ResearchAndMarkets.com

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.

The global Hydrogen Energy Storage market is worth US$ 12.96 Bn in 2018 and expected to grow at a CAGR of 5.7% during the forecast period from 2019 to 2027.

Market Insights

Rising investment in green energy technology is driving

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 2000 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. Overall, the global hydrogen energy storage market was US$ 12.96 Bn in 2018 and 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 Bn.

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

1.1. Report Description

1.2. Research Scope

1.3. Research Methodology

1.4. Market Segmentation

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

3.2. Market Dynamics

3.3. Attractive Investment Proposition, by Geography, 2018

3.4. Market Positioning of Key Players, 2018

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)

8.1. Overview

8.2. North America HES Market Value, By State, 2017 - 2027 (US$ Bn)

8.3. North America HES Market Value, By Storage Technology, 2017 - 2027 (US$ Bn)

8.4. North America HES Market Value, By Storage Type, 2017 - 2027 (US$ Bn)

8.5. North America HES Market Value, By End-use, 2017 - 2027 (US$ Bn)

8.6. North America HES Market Value, By Region/Country, 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 and 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.

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