Market Overview:
The global hydrogen storage systems market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for hydrogen as a fuel source in various applications such as power generation, automotive, chemical industry, and others. In addition, the growing awareness about environment-friendly and clean energy sources is also propelling the demand for hydrogen storage systems globally. Based on type, high-pressure hydrogen storage system held a major share of the global market in 2017. This can be attributed to its advantages such as high efficiency and low cost of ownership over other types of hydrogen storage systems. However, cryogenic liquid hydrogen storage system is expected to grow at a higher CAGR during the forecast period owing to its ability store large quantities of Hydrogen gas in comparison with other types of systems. Based on application, power generation held a dominant share in 2017 and is projected to maintain its lead during the forecast period. This can be attributedto government initiatives across various countries towards adoptionof renewable sources for electricity generation coupled with rising concerns about climate changeand air pollution levels.
Product Definition:
A hydrogen storage system is a component of hydrogen fuel cell technology that stores and releases hydrogen gas to power the fuel cells. The importance of hydrogen storage systems is that they provide a way to store and release the gas needed to power the fuel cells.
High-Pressure Hydrogen Storage System:
High-Pressure Hydrogen Storage System (HPHS) is a new technology that uses high-pressure hydrogen storage tanks to store excess renewable energy. It stores the energy in the form of a liquid, which can be used at any time even if wind or solar power is not available. The system works on the basis of pressure difference between two containers, which creates an electric field around it and attracts electrons towards one side or other side of this gap.
Cryogenic Liquid Hydrogen Storage System:
Cryogenic liquid hydrogen storage system is used in hydrogen storage systems to store the produced hydrogen for use at a later stage. The cryogenic liquid hydrogen is stored in tanks of size 100-200 liters, which are made of stainless steel and equipped with insulation materials. The tank has a copper pipe through which the gas passes into and out of the tank.
The major function performed by this system is to provide long-term stability against changes in temperature, pressure,.
Application Insights:
The power generation segment accounted for the largest market share in 2017 and is projected to witness significant growth over the forecast period. The growing demand for clean energy sources, such as solar and wind, to generate electricity is expected to drive the demand for hydrogen storage systems over the forecast period.
Hydrogen has been recognized as an important element in renewable energy mix due to its ability of producing zero emissions when burned with oxygen. Thus, it can be concluded that hydrogen plays a vital role in sustainable development of any industry or sector involved including automotive, transportation & logistics, building & construction materials manufacturing etc. This factor is anticipated to increase product demand from various application industries across all regions during future years.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing demand for clean energy, which has led to a rise in investments in renewable power generation. For instance, China’s 13th Five-Year Plan (2016 - 2020) has set an ambitious target of deploying offshore wind power capacity of at least 60 GW by 2020 and onshore wind power capacity of 40 GW by 2019. This plan is expected to drive industry expansion over the next few years.
Europe accounted for more than 25% share in 2016 owing to its well-established chemical industry and growing automotive sector that require efficient hydrogen storage systems across various applications such as fuel cells, batteries, etc., Hence it will continue being a key regional market during the forecast period.
Growth Factors:
- Increasing demand for hydrogen as a fuel source in transportation and stationary applications
- Government initiatives and funding for development of hydrogen storage technologies
- Growing number of collaborations and partnerships among key players in the market to develop new storage technologies
- Rising demand from Asia Pacific region for hydrogen storage systems due to increasing industrialization and urbanization
- Emergence of new storage technologies such as solid state electrolytes that offer high efficiency and improved safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Hydrogen Storage Systems Market Research Report
By Type
High-Pressure Hydrogen Storage System, Cryogenic Liquid Hydrogen Storage System, Other
By Application
Power Generation, Automotive, Chemical Industry, Other
By Companies
Mcphy Energy, Rocktek, Perichtec, Beiyang Fuqi, Sunwise, Powertech, Whole Win Material
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Hydrogen Storage Systems Market Report Segments:
The global Hydrogen Storage Systems market is segmented on the basis of:
Types
High-Pressure Hydrogen Storage System, Cryogenic Liquid Hydrogen Storage System, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Power Generation, Automotive, Chemical Industry, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Mcphy Energy
- Rocktek
- Perichtec
- Beiyang Fuqi
- Sunwise
- Powertech
- Whole Win Material
Highlights of The Hydrogen Storage Systems Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- High-Pressure Hydrogen Storage System
- Cryogenic Liquid Hydrogen Storage System
- Other
- By Application:
- Power Generation
- Automotive
- Chemical Industry
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hydrogen Storage Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hydrogen storage systems are a type of energy storage system that uses hydrogen as the primary energy source. Hydrogen storage systems can be used to store electricity or other forms of energy for use when needed.
Some of the major companies in the hydrogen storage systems market are Mcphy Energy, Rocktek, Perichtec, Beiyang Fuqi, Sunwise, Powertech, Whole Win Material.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hydrogen Storage Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Hydrogen Storage Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Hydrogen Storage Systems Market - Supply Chain
4.5. Global Hydrogen Storage Systems Market Forecast
4.5.1. Hydrogen Storage Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Hydrogen Storage Systems Market Size (000 Units) and Y-o-Y Growth
4.5.3. Hydrogen Storage Systems Market Absolute $ Opportunity
5. Global Hydrogen Storage Systems Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Hydrogen Storage Systems Market Size and Volume Forecast by Type
5.3.1. High-Pressure Hydrogen Storage System
5.3.2. Cryogenic Liquid Hydrogen Storage System
5.3.3. Other
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Hydrogen Storage Systems Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Hydrogen Storage Systems Market Size and Volume Forecast by Application
6.3.1. Power Generation
6.3.2. Automotive
6.3.3. Chemical Industry
6.3.4. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Hydrogen Storage Systems Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Hydrogen Storage Systems Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Hydrogen Storage Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Hydrogen Storage Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Hydrogen Storage Systems Demand Share Forecast, 2019-2026
9. North America Hydrogen Storage Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Hydrogen Storage Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Hydrogen Storage Systems Market Size and Volume Forecast by Application
9.4.1. Power Generation
9.4.2. Automotive
9.4.3. Chemical Industry
9.4.4. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Hydrogen Storage Systems Market Size and Volume Forecast by Type
9.7.1. High-Pressure Hydrogen Storage System
9.7.2. Cryogenic Liquid Hydrogen Storage System
9.7.3. Other
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Hydrogen Storage Systems Demand Share Forecast, 2019-2026
10. Latin America Hydrogen Storage Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Hydrogen Storage Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Hydrogen Storage Systems Market Size and Volume Forecast by Application
10.4.1. Power Generation
10.4.2. Automotive
10.4.3. Chemical Industry
10.4.4. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Hydrogen Storage Systems Market Size and Volume Forecast by Type
10.7.1. High-Pressure Hydrogen Storage System
10.7.2. Cryogenic Liquid Hydrogen Storage System
10.7.3. Other
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Hydrogen Storage Systems Demand Share Forecast, 2019-2026
11. Europe Hydrogen Storage Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Hydrogen Storage Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Hydrogen Storage Systems Market Size and Volume Forecast by Application
11.4.1. Power Generation
11.4.2. Automotive
11.4.3. Chemical Industry
11.4.4. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Hydrogen Storage Systems Market Size and Volume Forecast by Type
11.7.1. High-Pressure Hydrogen Storage System
11.7.2. Cryogenic Liquid Hydrogen Storage System
11.7.3. Other
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Hydrogen Storage Systems Demand Share, 2019-2026
12. Asia Pacific Hydrogen Storage Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Hydrogen Storage Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Hydrogen Storage Systems Market Size and Volume Forecast by Application
12.4.1. Power Generation
12.4.2. Automotive
12.4.3. Chemical Industry
12.4.4. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Hydrogen Storage Systems Market Size and Volume Forecast by Type
12.7.1. High-Pressure Hydrogen Storage System
12.7.2. Cryogenic Liquid Hydrogen Storage System
12.7.3. Other
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Hydrogen Storage Systems Demand Share, 2019-2026
13. Middle East & Africa Hydrogen Storage Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Hydrogen Storage Systems Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Hydrogen Storage Systems Market Size and Volume Forecast by Application
13.4.1. Power Generation
13.4.2. Automotive
13.4.3. Chemical Industry
13.4.4. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Hydrogen Storage Systems Market Size and Volume Forecast by Type
13.7.1. High-Pressure Hydrogen Storage System
13.7.2. Cryogenic Liquid Hydrogen Storage System
13.7.3. Other
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Hydrogen Storage Systems Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Hydrogen Storage Systems Market: Market Share Analysis
14.2. Hydrogen Storage Systems Distributors and Customers
14.3. Hydrogen Storage Systems Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Mcphy Energy
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Rocktek
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Perichtec
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Beiyang Fuqi
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Sunwise
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Powertech
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Whole Win Material
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
