Hydrogen Storage Market Segmented By storage type such as Physical based (compressed gas, cold/cryo compressed, liquid hydrogen) and Material based (adsorbent, liquid organic, interstitial hydride, complex hydride, chemical hydrogen).
Hydrogen storage is one of the most important technologies for enabling the widespread use of hydrogen as a fuel. Hydrogen can be used to power vehicles, heat homes and businesses, and generate electricity. Hydrogen can also be used in industries such as refining and chemical production.
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The market for hydrogen storage is expected to grow rapidly in the coming years as more countries begin to adopt hydrogen as a sustainable energy source. The market is currently dominated by a few large players, but there is room for new entrants to gain market share. Hydrogen storage technology has come a long way in recent years, and new technologies are being developed all the time.
This report will examine the current state of the hydrogen storage market, including key players, technology trends, and future prospects.
Hydrogen storage application techniques have an inherent importance with the fact that the technology’s successful implementation would mean the development of hydrogen fuel applications.
Hydrogen storage is a technology, which is important from the perspective of the fruitful commercialization of vehicles using hydrogen as a fuel and their acceptance in the market. Hence, it is expected that the growing market of vehicles based on hydrogen fuel would drive demand in the hydrogen market.
Key Players-
- Linde
- Air Liquide Group
- Hydrocell
- Texaco Ovonic Hydrogen Systems L.L.C.
- Air Products
- Pragma Industries
- Hydrogenious Technologies
- Praxair, Inc.
- Worthington Industries, Inc.
- Luxfer Holdings Plc
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
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Hydrogen Storage: Market Dynamics
There has been a rising global demand for the supply of energy, which could be met by hydrogen as a fuel. This in turn, would require the infrastructure to store hydrogen, thereby driving the hydrogen storage market. The trend to harvest alternative renewable energy from hydrogen in recent times coupled with the rising demand for energy generation and usage is expected to drive the hydrogen storage market.
In context to the North American region, in the U.S., the United States Department of Energy (US DOE) had set specific targets for respective market participants in the automotive industry to focus on research and development with an objective to boost successful technical research on hydrogen storage. To meet the relevant long-term objectives, the US DOE encouraged the scientific fraternity by establishing the “National Hydrogen Storage Project” in the U.S., which would focus on hydrogen storage as one of its priorities.
It should be noted that by 2020, the Fuel Cell Technologies Office (FCTO) of the US DOE targets to develop onboard automotive hydrogen storage systems thereby creating opportunities that would help hydrogen-fueled vehicle platforms to meet the user’s expectations of performance pertaining to refueling time taken, amount of passenger and cargo space occupied, overall vehicle performance and range. The FCTO has been carrying their R&D activities to cultivate new hydrogen storage materials and create advancements in hydrogen storage systems technology.
Hydrogen Storage: Market Segmentation
On the basis of storage type, the hydrogen storage market is segmented as follows:
- Physical based (compressed gas, cold/cryo compressed, liquid hydrogen)
- Material based (adsorbent, liquid organic, interstitial hydride, complex hydride, chemical hydrogen)
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