Global
Hydrogen Energy Storage Industry: Synopsis
The detailed report published by Market
Research Future (MRFR) projects that the global Hydrogen Energy Storage
Industry 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 Industry during the assessment period.
Global
Hydrogen Energy Storage Industry: Segmental Analysis
The global Hydrogen Energy Storage Industry has been segmented on the basis of
technology and end-users.
Based on technology, the global Hydrogen
Energy Storage Industry 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
Industry. The high demand for clean and
effective energy source is fueling the growth of this segment in the global Hydrogen
Energy Storage Industry during the assessment period.
Based on end
users, the global Hydrogen Energy Storage Industry has been segmented into
power generation, transportation, chemicals, metal
working, and others.
Hydrogen
Energy Storage Market Regional Analysis
Geographically, the global Hydrogen Energy
Storage Industry 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 Industry 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 Industry 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 Industry in the North America and Europe regions.
Global
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.
Key Players
The key players
profiled by Market Research Future (MRFR) that are operating in the global Hydrogen
Energy Storage Industry 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. The players in
the global Hydrogen Energy
Storage Industry are introducing innovative and technologically advanced
solutions to ensure high quality and cost effectivity of the products in order
to expand their businesses in the global
Hydrogen Energy Storage Industry. Strategically planned mergers and acquisitions
along with collaborations in multiple projects are aiding these players in
sustaining the competition in the global
Hydrogen Energy Storage Industry during the assessment period.
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