Hydrogen energy storage is a process
through which the electricity so converted into hydrogen, can be stored and
eventually can be re-electrified. Hydrogen energy storage (HES) helps to
increase the efficiency of sustainable energy supply systems in the electric
grid, gas pipeline systems, and transportation fuels. The hydrogen can be
stored in pressurized vessels at 100 to 300 bar. On the other hand, hydrogen
can also be stored through technologies such as solid metal hydrides with a
very high density. Hydrogen energy storage also facilitates re-electrification
in fuel cells with efficiencies up to 50% or burned in combined cycle gas power
plants.
The need for complete energy storage
solution has become more important where fields of wind turbines are generating
gigawatts of electricity, often with a significant amount of grid power
generation not matching with the demand. So, to efficiently store this extra
power, hydrogen energy storage process is used to store the electricity
produced through hydrogen. The hydrogen energy storage mainly focuses on
hydrogen utilization in various applications such as fuel cells and catalytic
combustion of hydrogen.
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The global hydrogen energy storage market
is set to witness significant growth due to factors such as reduction in carbon
emissions, increasing reliability of power supply, reduction in consumption of
conventional petroleum fuels, and hydrogen has higher storage capacity compared
to batteries. Moreover, growing investments in research and development of fuel
cell technology present opportunity for industry expansion. For instance, in
2017, Kia motors, South American company, announced the launch of H2 based
hybrid automobile fuel cell system driving clean feet implementation, thus
driving the demand for hydrogen energy storage market.
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Industry
Segmentation
The Hydrogen Energy Storage market has
been segmented based on end-user into power generation, transportation,
chemicals, and metal working, among others. Among these end-users, power
generation segment is the largest segment in the hydrogen energy storage market
as increasing renewable energy generation present an opportunity for hydrogen
energy storage market. Hydrogen produced by renewable electrolysis offers a
promising solution for electric power as well as transportation sector.
Prominent
Players
The key players of the global Hydrogen
Energy Storage market are VRV S.P.A, Hbank Technologies Inc., Inoxcva, Mcphy
Energy S.A, Luxfer Holdings PLC, Worthington Industries Inc., Praxair Inc,
Linde AG., and Air Liquide, among others.
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