Hydrogen Storage Market Growth, Key Players and Forecast Report 2026

1. Boom Expected in Global Hydrogen Storage Market in Future 1 ©P&SIntelligence.Allrightsreserved

2. During the last few years, the usage of hydrogen storage increased sharply in the transportation sector. This was because of its high requirement in power fuel cell automobiles, on account of its low cost and high-storage performance. Additionally, as per the estimates of the World Nuclear Association, the requirement for hydrogen for producing transport fuels from crude oil will rise rapidly in the future years. This will, in turn, fuel the demand for hydrogen storage in the coming years. Download report sample at: https://www.psmarketresearch.com/market-analysis/hydrogen- storage-market/report-sample Besides the above-mentioned factors, the rapid advancements being made in hydrogen and fuel cell technologies are also driving the demand for hydrogen storage across the world. Furthermore, the governments of many countries are enacting various policies such as new funding opportunity (FOA) for propelling the utilization of hydrogen storage. For example, in the U.K., the government made an investment of $2.21 million in the development of 100 additional hydrogen fuel cell cars and vans on May 10, 2016. Additionally, the implementation of strict emission policies in Japan, India, South Korea, and China and the growing requirement for methanol and ammonia are predicted to push up the demand for hydrogen storage throughout the world in the forthcoming years. Lubricant and oil and gas industries are increasingly requiring hydrogen storage technologies, thereby fueling the global demand for the technology. This is subsequently causing the growth of the global hydrogen storage market. According to the forecast of P&S Intelligence, a market research company based in India, the valuation of the market will rise from $426.4 million in 2015 to $991.7 million by 2026. Moreover, the market is predicted to grow at a CAGR of 7.6% from 2016 to 2026. Material-based and physical are the most commonly adopted hydrogen storage technologies. Of these, the demand for the physical hydrogen storage technology was found to be higher in the past years. The demand for this technology is also predicted to soar in the coming years, on account of the rising utilization of stored hydrogen in various end-use applications such as crude oil refining, glass production, transportation, metal working, and ammonia production. Transportation, stationary-power, and portable-power are the major application areas of hydrogen storage. Out of these, the usage of hydrogen storage is predicted to grow rapidly in the transportation sector in the upcoming years. Globally, the hydrogen storage market recorded the highest growth in Asia- Pacific (APAC) in the past. The region will also witness rapid expansion of the industry in the future. This will be because of the rising utilization of the methanol made from hydrogen and the growing usage of various environment- friendly transportation fuels in the region. Additionally, the burgeoning requirement for ammonia in various manufacturing plants in India and China will

3. add wings to the hydrogen storage demand in the coming years. Hence, it is safe to say that the requirement for hydrogen storage will shoot-up across the world in the forthcoming years, mainly because of the rising usage of the technology in the transportation, lubricants, and oil and gas industries. Browse full report at: https://www.psmarketresearch.com/market- analysis/hydrogen-storage-market Market Size Breakdown by Segment By Form Physical Material-Based • • By Type Cylinder Merchant/Bulk On-Board and On-Site • • • By Application Stationary Power Portable Power and Transportation Geographical Analysis • • North America • oU.S. oCanada oMexico Europe • oGermany oU.K. oFrance oRussia Asia-Pacific • oJapan oChina oIndia oSouth Korea oIndonesia oAustralia South America • oBrazil oChile Middle East and Africa • oSaudi Arabia

4. oKuwait oOman oSouth Africa 3 © P&S Intelligence. All rights reserved

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