Hydrogen Storage Market worth 969.6 Million USD by 2026

1. MarketsandMarkets Presents Hydrogen Storage Market worth 969.6 Million USD by 2026 https://www.marketsandmarkets.com/Market-Reports/hydrogen-storage-market-15698551.html

2. The report "Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026", The hydrogen storage market size was USD 415.8 Million in 2015 and is projected to reach USD 969.6 Million by 2026, registering a CAGR of 8.1% between 2016 and 2026. Browse 69 market data tables and 40 figures spread through 141 pages and in-depth TOC on “Hydrogen Storage Market” Download PDF Brochure: Click Here Rising demand for transportation fuels, increase in oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels are some of the factors driving the growth of the hydrogen storage market. On-board segment is expected to witness the highest growth By type of storage, the on-board segment of the market is expected to witness the highest growth during the forecast period. This segment is driven by the rise in production of transportation fuel cells for applications, such as submarines, ships & boats, and buses among others. The development of hydrogen powered vehicles in Japan and South Korea has also contributed to this segment’s growth.

3. Asia-Pacific is the largest market for hydrogen storage Asia-Pacific is the largest and the fastest-growing regional segment of the hydrogen storage market. This growth is mainly attributed to the strong demand for ammonia and methanol from the region’s developing countries, such as China, India, and Malaysia. China’s stringent regulations on oil refineries for producing cleaner fuels are expected to further boost the demand for hydrogen storage in this region. Target Audience: Hydrogen Storage Manufacturers Hydrogen Storage Suppliers Hydrogen Production Companies Fuel Cells Associations Raw Material Suppliers Traders, Distributors of Hydrogen Storage Government and Regional Agencies and Research Organizations Investment Research Firms Request for Sample: Click Here

4. Scope of the Report: • Basis of Form of Storage: • Physical • Material-based • Basis of Type of Storage: • Cylinder • Merchant/bulk • On-site • On-board • Basis of End-Use Application: • Chemical • Oil Refining • General Industry • Transportation • Metal Working

5. Industry Leaders: The key players in the hydrogen storage market are Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), Luxfer Holdings Plc (U.K.), McPhy Energy S.A. (France), HBank Technologies Inc. (Taiwan), INOXCVA (India), VRV S.p.A. (Italy), and Hexagon Composites ASA (Norway). Strategies Adopted by Key Players: The growing demand for hydrogen storage has encouraged these companies to adopt several business strategies to retain their competitiveness in the global market. Agreements and partnerships are among the most widely used development strategies. The key players in this market concentrate on increasing production capacities and developing cost-effective technologies to increase their market share. Major companies also invest to upgrade their units for the enhanced production of storage systems. All these developments help meet the increasing demand for hydrogen storage systems from a variety of applications, such as chemicals, oil refining, metal working, and transport.

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