17th January 2020 – The Hydrogen
Storage Market report presents a widespread and elementary study of Hydrogen
Storage business at the side of the analysis of subjective aspects which is
able to give key business insights to the readers. Worldwide Hydrogen Storage
Market 2025 analysis report offers the analytical read of the business by
learning various factors like Hydrogen Storage market growth, consumption
volume, market trends and Hydrogen Storage business price structures throughout
the forecast amount from 2014 to 2025.
Global Hydrogen Storage Market is
anticipated to reach USD 6.47 billion by 2025. Hydrogen storage is a key
technology for the development of fuel and hydrogen cell technologies in
applications comprising portable power, transportation, and stationary power.
The factors that propel the growth of the hydrogen storage market include surge
in the consumption of oil across the globe, increase in the demand for
transportation fuels, decline of global crude oil quality, and strict
environmental standards for the production of cleaner fuels.
On the other hand, there are factors
that may hamper the growth of the market including restricted accessibility of
hydrogen refilling infrastructure in the emerging economies. Hydrogen storage
industry is anticipated to grow at a significant CAGR in the upcoming period as
the scope, product types, and its applications are increasing across the globe.
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The important trend observed in the
hydrogen storage industry is increasing focus on R&D for the growth of
hydrogen storage technology. In recent times, the U.S., India, and England have
been progressively focusing on R&D activities that could support the
technological improvements in hydrogen and fuel cell technologies.
The market of hydrogen storage may be
explored by form of storage, type of storage, application, and geography. The
market may be explored by form of storage as Material-based and Physical. The
“Physical” segment led the hydrogen storage market in 2016 and is anticipated
to maintain its dominance by 2025. The key factor that may attributed to the growth
of market includes high demand across various applications.
Based on type of storage, the market may
be classified as On-board, Merchant/bulk, Cylinder, and On-site. The “Cylinder”
segment led the hydrogen storage industry in 2016 and is anticipated to
maintain its dominance by 2025. The key factor that may attributed to the
growth of market includes increase in demand for end-use applications, such as
food, electronics industries and metal working.
The key applications that could be
explored in the market of hydrogen storage include General Industry, Oil
Refining, Chemical, Metal Working, and Transportation. The “Transportation”
segment led the hydrogen storage industry in 2016 and is anticipated to
maintain its dominance by 2025. The key factor that may attributed to the
growth of market includes increasing demand for hydrogen powered fuel cell
vehicles in North America and Europe.
Asia-Pacific accounted for the major
share of the Hydrogen Storage Market Size in 2017 and will continue to lead in
the forecast period. The factors that could be attributed to the growth include
strong requirement for ammonia and methanol from emerging nations, such as
India, China and Malaysia and increasing demand forH2 and fuel cells.
Asia-Pacific is likely to be followed by the North American region.
Some of the key players that fuel the
growth of the market of hydrogen storage comprise Praxair Technology, Inc., H
Bank Technology Inc., Hexagon Composites ASA, Air Liquide, The Linde Group,
Cella Energy Limited, Pragma Industries, VRV S.P.A, McPhy Energy S.A., and
Eutectix LLC. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
Key Questions Answered:
-What is the industry size and rising
rate of the market for particular regions?
-What is the market size and development
rate of the global and regional market by various segments?
-Which region is expected to drive the
market by the forecast period?
-What are the key technological and
industry trends affecting the market?
-What are the significant key players
performing in the market?
-What factor are estimated in drive and
restrain the market growth?
-What are the key opportunities in the
market?
-Which company accounted for the highest
market share?
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