The global market for hydrogen storage is likely to grow from $477.7 million in 2016 to $991.7 million by 2026. With the increasing focus of key players to produce alternative renewable energy from fuel cells, hydrogen and oxygen, the market for hydrogen storage is expected to increase at a robust pace. Additionally, increasing consumption of hydrogen in various end-use sectors including power, energy, transportation, fueling stations, and electronics are expected to bolster the market for hydrogen storage during the forecast period.
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As per the findings of research, the stationary power emanated the largest demand for hydrogen storage. Physical storage segment has been the largest revenue generator in the global hydrogen storage market.
Asia-Pacific accounted for the largest region in the global hydrogen storage market, where China contributed to the largest revenue. The U.S. was the major market in North America, whereas Germany contributed to the largest revenue in Europe region. Saudi Arabia was the major market in the Middle East and Africa region while Brazil dominated the South America market.
The factors driving the growth of the hydrogen storage market include growing demand for low emission fuels, increasing consumption of ammonia and methanol worldwide and rising use of hydrogen storage tanks in transportation sector. The increasing demand for hydrogen-powered vehicles in North America and Europe is expected to have a positive impact on the growth of hydrogen storage market during the forecast period on account of easy availability of hydrogen filling infrastructure and stringent government regulations for the use of low emission generating vehicles.
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The hydrogen storage market possesses great investment potential during the forecast period on account of increasing advancements in the fuel cells and hydrogen technologies, and favorable government initiatives such as new funding opportunity (FOA) to increase the adoption of hydrogen storage technologies across the globe.
To Browse Full Report Visit Here: https://www.psmarketresearch.com/market-analysis/hydrogen-storage-market
Asia-Pacific accounted for the largest region in the global hydrogen storage market, where China contributed to the largest revenue. The U.S. was the major market in North America, whereas Germany contributed to the largest revenue in Europe region. Saudi Arabia was the major market in the Middle East and Africa region while Brazil dominated the South America market.
The factors driving the growth of the hydrogen storage market include growing demand for low emission fuels, increasing consumption of ammonia and methanol worldwide and rising use of hydrogen storage tanks in transportation sector. The increasing demand for hydrogen-powered vehicles in North America and Europe is expected to have a positive impact on the growth of hydrogen storage market during the forecast period on account of easy availability of hydrogen filling infrastructure and stringent government regulations for the use of low emission generating vehicles.
Request For Sample Pages: https://www.psmarketresearch.com/market-analysis/hydrogen-storage-market/report-sample
The hydrogen storage market possesses great investment potential during the forecast period on account of increasing advancements in the fuel cells and hydrogen technologies, and favorable government initiatives such as new funding opportunity (FOA) to increase the adoption of hydrogen storage technologies across the globe.
The research states that the global market for hydrogen storage is highly consolidated in nature, where four major players constitute for the largest share in the global market. Some of the key players in the global hydrogen storage market include Air Liquide SA, Linde AG, Praxair, Inc., Worthington Industries Inc., McPhy Energy S.A., HBank Technologies Inc., Hexagon Composites ASA, VRV S.p.A. and INOXCVA.
Contracts and agreements have been the major recent developments in the global market for energy storage. Praxair Inc., Worthington Industries Inc. and Linde AG are some of the companies that had signed new agreements for the development of hydrogen storage technologies across the globe.
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