Hydrogen Energy Storage Market 2019 Industry Analysis, Company Profile, Top Leaders, Opportunities, Challenges, Demand and Segmentation by Forecast 2023

Tue Mar 5, 2019 - 7:30am GMT+0000

Global Hydrogen Energy Storage Market is expected to grow at 8.50% CAGR during the forecast period. The report summarizes market review of the key segments in the market such as by Technology, End-User and Region

Pune, India – March 5, 2019

Hydrogen Energy Storage Market – Overview
The global hydrogen energy storage market is marked to exhibit noteworthy expansion at a CAGR of 8.50% during the forecast period from 2016 to 2023 and generate significant revenue by the end of the review period. Increased research activities for the development of alternative energy solutions in order to reduce the consumption of fossil fuels, increased emphasis on utilizing cleaner fuel, high demand for alternative power sources as a result of increased energy consumption due to rapid rise in population, and rising environmental concerns regarding the adverse effects caused due to vehicle emission are majorly propelling the growth of the global hydrogen energy storage market during the assessment period.

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Hydrogen Energy Storage Market: Industry Updates
In February 2019, Chroma, a leading test and measurement instrumentation manufacturer, has announced its collaboration with Hephas Energy, a supplier of fuel cell test equipment, in order to test hydrogen fuel cells to expand Chroma’s product scope.
In February 2019, Shell, a global oil company, has announced its agreement to acquire 100 percent of Sonnen, a leading provider of smart energy storage systems and innovative energy services for household purposes.

Hydrogen Energy Storage Market Segmental Analysis:
The global hydrogen energy storage market has been segmented on the basis of technology and end-users.
Based on technology, the global hydrogen energy storage market has been segmented into liquid hydrogen, metal hydrides, carbon absorption, and underground salt caverns. The liquid hydrogen segment commands for the major share of the global hydrogen energy storage market. The high demand for clean and effective energy source is fueling the growth of this segment in the global hydrogen energy storage market during the assessment period.
Based on end users, the global hydrogen energy storage market has been segmented into power generation, transportation, chemicals, metal working, and others.

Hydrogen Energy Storage Regional Market Analysis:
Geographically, the global hydrogen energy storage market has been segmented into five major regions such as North America, South America, Asia Pacific (APAC), Europe, and the Middle East and Africa. The Asia Pacific region commands the major share of the global hydrogen energy storage market during the assessment period. The factors such as increased research activities for the development of alternative energy solutions in order to reduce the consumption of fossil fuels, increased emphasis on utilizing cleaner fuel, high demand for alternative power sources as a result of increased energy consumption due to rapid rise in population, and rising environmental concerns regarding the adverse effects caused due to vehicle emission are majorly propelling the growth of the global hydrogen energy storage market in the Asia Pacific region. Rapid technological advancement and increased adoption of alternative energy solutions are fueling the growth of the global hydrogen energy storage market in the North America and Europe regions.

Competitive Landscape:
The key players profiled by Market Research Future (MRFR) that are operating in the global hydrogen energy storage market are Worthington Industries Inc., Praxair Inc, Linde AG., VRV S.P.A, Hbank Technologies Inc., Inoxcva, Mcphy Energy S.A, Luxfer Holdings PLC, Air Liquide, and others.

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Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List of Assumptions
3.6 Limitations of The Study
4 Market Insights
Continued ..

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This news is published on Reuters.