The global Hydrogen Energy Storage market,size was valued US$ 13.12 Bn. in 2022 and the total revenue is expected to grow at 7.90% through 2023 to 2029, reaching nearly US$ 22.34 Bn.
Market Overview:
This study aims to comprehensively analyze the Hydrogen Energy Storage market based on its components, applications, industries, and geographical regions. Detailed insights into the primary growth drivers influencing the Hydrogen Energy Storage market are provided, along with an extensive analysis of its value chain.
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Market Scope:
The research methodology employed to evaluate and forecast the Hydrogen Energy Storage market involves initial secondary research using sources that gather revenue data from key suppliers. Vendor offerings are also taken into account during market segmentation. The total size of the Hydrogen Energy Storage market is determined using a bottom-up approach, considering the revenues of major enterprises.
Drivers:
Rising demand for producing hydrogen from electrolysis by surplus renewable power is expected to drive the market during the forecast period. Growing End Uses of hydrogen across numerous sectors are anticipated to push the market growth towards north. For example, hydrogen made from electrolysis can be used for power generation, to decrease carbon intensity in gas pipelines.
Segmentation:
by Technology
• Liquid Hydrogen
• Metal Hydrides
• Carbon Absorption
• Underground salt cavern
by End User
• Power Generation
• Transportation
• Chemicals
• Metal working
• Others
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Key Players:
• VRV S.P.A
• HBank Technologies Inc.
• Inoxcva
• Mcphy Energy S.A
• Luxfer Holdings Plc.
• Worthington Industries Inc.
• Praxair Inc.
• Linde AG
• Air Liquide
• ITM Power (U.K)
• Hydrogenics (Canada)
• Hexagon Composites (Norway)
• Nel Hydrogen (Norway)
• Plug Power
• Hydrogenious
• Air Products and Chemicals
• Chart Industries
• FuelCell Energy
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Regional Analysis:
Market share statistics for Global, North America, Europe, Asia-Pacific, the Middle East, Africa, and South America are analyzed separately. Competitive strengths are evaluated, and individual competitive analyses are conducted for each competitor by analysts at Maximize.
COVID-19 Impact Analysis on Hydrogen Energy Storage Market:
The COVID-19 pandemic has affected various industries including aerospace and defense, agriculture, automobiles, retail and e-commerce, energy and power, healthcare, packaging, mining, electronics, banking, financial services, and insurance, among others. The impact of COVID-19 on the Hydrogen Energy Storage market and its growth rate during 2019-2020 is significant. Timely insights and analysis on mitigating risks and digitizing operations to provide trusted information and insights to CEOs are crucial for businesses and organizations navigating through the COVID-19 crisis.
Key Questions Answered in the Hydrogen Energy Storage Market Report:
• Which segment dominated the Hydrogen Energy Storage market?
• How was the competitive landscape of the Hydrogen Energy Storage market in 2020?
• What are the key factors driving the growth of the Hydrogen Energy Storage market?
• Which region held the largest share in the Hydrogen Energy Storage market in 2020?
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