The Global Hydrogen Storage Materials and Technologies Market Reached $3.6 Billion in 2016, the Market Should Reach Nearly $5.4 Billion by 2021
Hydrogen is identified as a key future energy source. However, storing hydrogen can be a challenge and requires development of advanced storage methods. Hence, the hydrogen storage space requires the presence of companies that are specialized in various hydrogen storage technologies. This research defines hydrogen storage technologies as various forms of materials, storage media and technology used to store hydrogen in a form that can be used as energy source as and when required.
Hydrogen can be stored physically or can be stored using chemical or material-based methods. Physical storage currently dominates the market, and in physical form, hydrogen can be stored as either a gas or a liquid. Materials-based hydrogen storage includes metal hydride, chemical hydrogen storage and sorbent materials.
Hydrogen storage is the key enabling technology for the advancement of hydrogen and fuel cell technologies in various end-user industries such as chemicals, oil refining, metal processing, and transportation. Of these, the chemicals end-user segment accounts for the majority of the market; however, the transportation end-user segment is witnessing the strongest growth in all geographical regions.
To calculate and segment the market, this research has considered physical, chemical and material-based storage technologies for the hydrogen storage market. Along with product and solutions revenue, the services revenue that a company reports within its total revenue has also been considered.
Report Includes:
An overview of the global markets for hydrogen storage materials technologies.
Analyses of global market trends, with data from 2015 and 2016, and projections of CAGRs through 2021.
Analyses of the market by storage type, application, and end user/industry.
Detailed discussion of the impact of the key trends and key stakeholders in the market.
In-depth patent analysis of hydrogen storage material technologies that are currently under investigation or new in the market.
Profiles of manufacturers of hydrogen storage materials technologies.
The report includes distinct types of companies such as:
Hydrogen production, fuel cell and hydrogen storage material and technology providers.
Manufacturers of industrial gases and related products.
Metal and advanced material manufacturers.
Others, including storage (such as high-pressure cylinder) suppliers and manufacturers.
Key Highlights:
The global hydrogen storage materials and technologies market reached $3.6 billion in 2016. The market should reach nearly $5.4 billion by 2021, growing at a compound annual growth rate (CAGR) of 8.1% from 2016 to 2021
The physical storage segment of hydrogen materials and technologies reached $2.6 billion in 2016. The market should reach $4.0 billion, growing at a CAGR of 8.6% from 2016 to 2021
Chemical or material based storage of hydrogen reached $988 million in 2016. The market should reach $1.4 billion by 2021, growing at a CAGR of 6.7% from 2016 to 2021
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Related Topics: Energy Storage
Source: GlobeNewswire
(September 5, 2017 - 6:24 AM EDT)
