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Global Hydrogen Energy Storage Market By Technology (Liquefaction, Material Based and Compression), By State (Gas, Liquid and Solid), By End-Users (Utilities, Industrial and Commercial), By Region, Forecast & Opportunities to 2026

The global hydrogen energy storage market accounted for a value of USD 11.1 billion in 2019 and is projected to register growth at a CAGR of 5.0% during forecast period.

COVID-19 has impacted the hydrogen energy storage market. The hydrogen energy storage market has witness a significant decline in growth rate due to outbreak of corona virus. The supply chain of raw materials got disrupted due to travel restriction and lockdown across many countries in the world. The market is estimated to recover post and all the halted projects will resume.

Definition:

Hydrogen energy storage can be defined as a process in which the surplus of energy is created by renewable sources at the time of low energy demand is used to power electrolysis, a process in which an electric current is passed through a chemical solution which separates hydrogen. It helps in increasing efficiency of sustainable energy supply systems in gas pipeline, electric grid and transportation fuels.

Market Dynamics (Drivers/Opportunities):

Te cost of renewable power generation is decreasing from wind and solar energy increases the hydrogen energy storage. The awareness among people for environment is increasing and the demand for clean fuel is increasing. This increases growth in hydrogen energy storage market during forecast period.

The pollution is increasing due higher carbon emission due to which government has adopted several policies to promote fuel cell utilization. The application of hydrogen energy storage is increasing around the world. This drives growth in hydrogen energy storage market during forecast period.

Market Insights, by State

On the basis of state, the hydrogen energy storage market is segmented into liquid, gas and solid. The gas segment is estimated to hold largest market share during forecast period. The storing of hydrogen in gas state through compression is very easy and convenient method. This is considered to be more cost efficient than others. The demand for hydrogen energy storage is gaseous state is increasing around the world and this drives growth in gas segment during forecast period.

Market Insights, by Technology

On the basis of state, the hydrogen energy storage market is segmented into liquefaction, material based and compression. The compression segment is estimated to be the fastest growing segment during forecast period. The compression segment is most preferred technology in hydrogen energy storage market. The hydrogen in compressed form is largely used in onboard mobile applications such road transportation and in vehicles etc. It is more convenient technology for storing hydrogen. The demand for compression technology is increasing in the world. This drives growth in compression segment during forecast period.

Market Insights, by End-users

On the basis of state, the hydrogen energy storage market is segmented into utility, commercial and industrial. The utility segment is estimated to be the fastest growing segment during forecast period. The demand for hydrogen energy storing in utility end segment is increasing around the world. The demand for power generation through renewable energy sources is increasing which increases the need for hydrogen energy storage in the utility segment. This drives growth in utility segment during forecast period.

Regional Insights

North America region is estimated to dominate the market during forecast period. The fuel cell application is increasing in the world. The awareness about environment is increasing and government is also implementing stringent norms to reduce emission. US is estimated to be the largest contributor of growth in hydrogen energy storage market in North America. The demand for cleaner fuels is widely increasing in this region and this drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in hydrogen energy storage industry are Air Liquide, Chart Industries, Hexagon Composites, ITM Power, Net Hydrogen, Plug Power, Worthington Industries, Hydrogenics, Linde, Inoxcva, Air Products & Chemicals, Mcphy Energy, Fuelcell Energy, Pragma Industries, Hydrogen in Motion, Areva H2gen and H2go Power.

Segments Covered in the Report

This report forecasts The Global Hydrogen Energy Storage Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global hydrogen energy storage market report on the basis of technology, state and end-users.

Hydrogen Energy Storage Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Hydrogen Energy Storage Market, By Technology, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Liquefaction
  • Material Based
  • Compression
  1. Hydrogen Energy Storage Market, By State, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Gas
  • Liquid
  • Solid
  1. Hydrogen Energy Storage Market, By End-Users, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Utility
  • Industrial
  • Commercial
  1. Hydrogen Energy Storage Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Technology
    • By State
    • By End-Users
    • By Country
      • USA
        • By End-Users
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Technology
      • By State
      • By End-Users
      • By Country
        • Brazil
          • By End-Users
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Technology
        • By State
        • By End-Users
        • By Country
          • UK
            • By End-Users
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Technology
          • By State
          • By End-Users
          • By Country
            • China
              • By End-Users
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Technology
            • By State
            • By End-Users
            • By Country
              • Saudi Arabia
                • By End-Users
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • H2go Power
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Air Liquide
    • Chart Industries
    • Hexagon Composites
    • ITM Power
    • Net Hydrogen
    • Plug Power
    • Worthington Industries
    • Hydrogenics
    • Linde
    • Inoxcva
    • Air Products & Chemicals
    • Mcphy Energy
    • Fuelcell Energy
    • Pragma Industries
    • Hydrogen in Motion
    • Areva H2gen
  2. Appendix
    • Interrelated Market

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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