Global Hydrogen Storage Market accounted for USD 523.2 million and projected to grow at a CAGR of 8.6% during forecast period (Current Year Statistic Will Be Provided in Report). It has its wide application in chemicals, metal working, general industrial, transportation, stationary power, portable power, and transportation. Rising demand for low emission fuels may act as the major driver in the growth of Hydrogen storage market. On the other side limited availability of hydrogen refueling infrastructure in developed economies may hamper the market.
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The global hydrogen storage market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market. Some of the major players in global hydrogen storage market include
- Air Liquide
- The Linde Group
- Praxair Technology, Inc.
- Worthington Industries
- McPhy Energy S.A.
- Luxfer Holdings PLC
- Hexagon Composites ASA
- HBank Technologies Inc.
- INOX Group
- VRV S.p.A. and others
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Major Market Drivers: Global Hydrogen Storage Market
- Rising demand for low emission fuels
- Rise in demand for ammonia and methanol, globally
- Increased usage of hydrogen storage tanks in transportation application
- Limited availability of hydrogen refueling infrastructure in developed economies
Market Segmentation: Global Hydrogen Storage Market
- The global hydrogen storage market is segmented on the basis of type into
- Physical based
- Material based
- On the basis of application, the global hydrogen storage market is segmented into
- Metal working
- General industrial
- Stationary power
- Portable power
- On the basis of geography, the global hydrogen storage market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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