The Latest Hydrogen Energy Storage Industry Statistics Explained
Global hydrogen energy storage market is expected to reach $26.04 billion by 2026
The statistic “Global hydrogen energy storage market is expected to reach $26.04 billion by 2026” forecasts the projected value of the global market for hydrogen energy storage technologies by the year 2026. This statistic suggests that there is significant potential growth in the adoption and deployment of hydrogen energy storage solutions worldwide over the coming years. The anticipated increase in market size reflects a growing interest in utilizing hydrogen as a clean and renewable energy storage option, which has the potential to support the transition towards more sustainable and environmentally-friendly energy systems globally.
The hydrogent storage market is expected to grow at a CAGR (Compound Annual Growth Rate) of 8.1% from 2021 to 2026
This statistic indicates that the hydrogen storage market is projected to increase in size at a Compound Annual Growth Rate (CAGR) of 8.1% between the years 2021 and 2026. The CAGR is a smoothed annual growth rate that provides a consistent way to understand the growth trend over a specific period of time. In this context, a CAGR of 8.1% suggests that the market for hydrogen storage solutions is expected to expand steadily at a relatively high rate over the next five years. This growth rate signifies potential opportunities for businesses operating in the hydrogen storage sector, as well as implications for investment, technological advancements, and sustainability efforts within the industry.
In 2021, Asia-Pacific held the largest share of hydrogen energy storage market
The statistic “In 2021, Asia-Pacific held the largest share of the hydrogen energy storage market” signifies that the Asia-Pacific region had the highest proportion of market dominance in the sector of hydrogen energy storage during the year 2021. This means that a significant portion of the global hydrogen energy storage market in terms of revenue, capacity, or other relevant metrics was concentrated in countries within the Asia-Pacific region. This could be attributed to factors such as strong government support, investment in infrastructure, technological advancements, and growing demand for clean energy solutions in countries like Japan, South Korea, China, and Australia, all of which are key players in the hydrogen energy storage market in the region.
Industrial segment was the largest end user of hydrogen energy storage in 2021
The statistic indicates that in 2021, the industrial segment, also known as the industrial sector, was the largest user of hydrogen energy storage compared to other end-user segments. This signifies that industries such as manufacturing, chemicals, and energy production relied heavily on hydrogen energy storage solutions for their operations and processes. The industrial sector’s significant usage of hydrogen energy storage likely reflects its need for a reliable and sustainable energy source to power various industrial applications and operations, showcasing the sector’s contribution to the adoption and utilization of hydrogen energy storage technologies in 2021.
The hydrogen storage industry is expected to generate USD 5.6 billion by 2025.
The statistic stating that the hydrogen storage industry is expected to generate USD 5.6 billion by 2025 suggests a significant growth projection for this particular sector within the energy industry. This projection indicates that there is increasing interest and investment in hydrogen storage technologies due to their potential to enable the transition to cleaner energy sources. The expected revenue of USD 5.6 billion also implies a growing market demand for hydrogen storage solutions, likely driven by factors such as government incentives, renewable energy goals, and the need to decarbonize various sectors. Overall, this statistic highlights the potential economic opportunities and importance of hydrogen storage in shaping the future of sustainable energy systems.
The commercial hydrogen storage for transportation is expected to expand at a CAGR of 8.2% from 2021 to 2026.
This statistic indicates that the commercial hydrogen storage market for transportation is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% between the years 2021 and 2026. A CAGR is a measure of the annual growth rate of an investment over a specified period of time. In this context, the expected expansion at a CAGR of 8.2% suggests a consistent and positive growth trend in the commercial hydrogen storage sector, reflecting increasing demand and adoption of hydrogen storage solutions for transportation purposes over the specified time frame. This growth rate serves as a predictive indicator for the anticipated market growth and investment potential in the hydrogen storage industry within the transportation sector.
North America is expected to experience the highest growth rate (8.5%) in the hydrogen energy storage market throughout 2026.
The statistic that North America is expected to experience the highest growth rate (8.5%) in the hydrogen energy storage market throughout 2026 indicates that the region is poised for significant expansion in this sector. This growth rate suggests a strong demand for hydrogen energy storage solutions in North America, driven perhaps by factors such as increasing focus on renewable energy sources, government incentives, and advancements in technology. The anticipated growth highlights potential opportunities for investment and development in the hydrogen energy storage market in North America, positioning the region as a key player in the global transition towards cleaner and more sustainable energy systems.
Hydrogen market demand in Europe was 273.6 kilotons in 2016.
The statistic “Hydrogen market demand in Europe was 273.6 kilotons in 2016” indicates the total amount of hydrogen requested and consumed within European markets during the year 2016. This measure is typically used to understand the level of interest and utilization of hydrogen as an energy source and industrial feedstock within the region. The data gives insight into the scale of demand for hydrogen-based products and services and can be used by policymakers, businesses, and researchers to assess trends in the market, make informed decisions, and plan for future developments in the hydrogen industry in Europe.
Japan is estimated to show significant market growth at a CAGR of 7.6% during the forecast period.
The statistic “Japan is estimated to show significant market growth at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period” suggests that the market in Japan is anticipated to experience a consistent and substantial annual growth rate of 7.6% over the specified forecast period. This projection indicates a positive trend in market performance, signaling potential opportunities for businesses operating in Japan or looking to enter the Japanese market. The CAGR metric is commonly used in forecasting to understand the average annual growth rate of a market, providing insights into the overall market expansion and future potential for investors, businesses, and policymakers to consider and strategize accordingly.
Hydrogen energy storage in China accounted for nearly 40% of the Asia-Pacific market in 2021.
The statistic indicates that in 2021, China dominated the Asia-Pacific market for hydrogen energy storage, capturing almost 40% of the market share. This suggests that China played a significant role in the adoption and use of hydrogen energy storage solutions within the region, outpacing other countries in the Asia-Pacific area. The high market share implies that China has been investing heavily in hydrogen energy storage infrastructure and technologies, positioning itself as a key player in the development and advancement of hydrogen-based energy solutions within the region. This statistic highlights China’s growing emphasis on transitioning towards cleaner and more sustainable energy sources, particularly hydrogen, as part of its strategic energy and environmental goals.
In 2016, the physical storage segment held the largest market share of 61.89%.
The statistic “In 2016, the physical storage segment held the largest market share of 61.89%” indicates that out of all the different segments within the storage industry during that year, the physical storage segment accounted for the highest proportion of total market sales or revenue. This suggests that physical storage solutions such as hard disk drives, solid-state drives, and other hardware-based storage devices were in greater demand compared to other types of storage solutions like cloud storage, virtual storage, or hybrid storage. The significant market share held by the physical storage segment signifies that it was a dominant player in the industry in 2016, potentially due to factors like cost-effectiveness, established infrastructure, reliability, and specific needs of the market at that time.
Underground hydrogen storage is expected to have the highest growth of 7.9% CAGR from 2019 to 2025.
The statistic indicates that underground hydrogen storage is projected to experience significant growth, with a Compound Annual Growth Rate (CAGR) of 7.9% from 2019 to 2025. This suggests that the utilization of underground storage facilities for hydrogen is expected to increase steadily over the specified period. The growth rate highlights the rising interest and investment in hydrogen energy technologies as a clean and sustainable energy source. Factors driving this growth may include a shift towards renewable energy sources, advancements in hydrogen production and storage technologies, as well as increasing government support and regulations promoting the adoption of hydrogen as an alternative fuel.
The metal hydride type held nearly 25% of the hydrogen storage market in 2020.
The statistic stating that the metal hydride type held nearly 25% of the hydrogen storage market in 2020 indicates that this specific technology represented a significant share of the total market for storing hydrogen that year. This suggests that metal hydride-based storage solutions were popular and competitive in comparison to other types of storage technologies within the industry. The data implies that metal hydrides were a preferred choice for hydrogen storage among consumers or businesses, potentially due to factors such as efficiency, cost-effectiveness, or reliability. Overall, the statistic highlights the market success and adoption of metal hydride technology in the hydrogen storage sector during 2020.
The hydrogen energy storage market in India is projected to grow at a considerable CAGR of 6.5% during the forecast period (2021-2026).
The statistic indicates that the hydrogen energy storage market in India is expected to experience significant growth over the forecast period from 2021 to 2026, with a Compound Annual Growth Rate (CAGR) of 6.5%. This means that the market is projected to expand by an average of 6.5% annually during this period. The increasing focus on sustainable energy solutions and the growing interest in hydrogen as a clean energy source are likely driving factors for this growth. The CAGR figure provides insight into the steady and consistent growth expected in the hydrogen energy storage market in India over the next few years, suggesting opportunities for investment and development in this sector.
The cylinder storage segment held the largest market share of over 35% in 2020.
The statistic ‘The cylinder storage segment held the largest market share of over 35% in 2020’ indicates that among all the storage segments in a particular market or industry, the one related to cylinders had the highest proportion of market share at over 35% in the year 2020. This suggests that cylinders were the most commonly used or preferred storage option in that specific industry during that time period. Companies specializing in cylinder storage likely had a dominant position within the market, showcasing the popularity and demand for that particular storage solution among consumers or businesses.
Liquid hydrogen storage market is expected to grow by a rate of 7.8% from 2021 to 2026.
The statistic stating that the liquid hydrogen storage market is projected to grow by a rate of 7.8% from 2021 to 2026 indicates an anticipated steady expansion in the demand and utilization of liquid hydrogen storage infrastructure and technologies over the specified timeframe. This growth rate serves as a critical indicator for industry stakeholders, investors, and policymakers to assess the market dynamics and potential opportunities within the sector. Factors such as advancements in hydrogen technology, increasing adoption of clean energy solutions, and supportive government policies promoting sustainable energy sources are likely driving forces behind the projected growth. Monitoring and analyzing market trends, technological developments, and regulatory changes will be essential for businesses and decision-makers to capitalize on the growth opportunities presented in the liquid hydrogen storage market.
The on-board hydrogen storage segment is projected to reach $474 million by 2026.
The statistic, “The on-board hydrogen storage segment is projected to reach $474 million by 2026,” refers to the estimated value of the market for on-board hydrogen storage systems by the year 2026. This indicates that the demand for on-board hydrogen storage solutions is expected to grow significantly, with an estimated market value of $474 million. This projection is likely based on factors such as the increasing adoption of hydrogen fuel cell technology in transportation, as well as the growing emphasis on clean energy solutions to reduce carbon emissions. The statistic suggests a promising market opportunity for companies involved in the production and development of on-board hydrogen storage systems.
As of 2021, the hydrogen storage market in South America was valued at $1.2 billion.
The statistic indicates that as of 2021, the total value of the hydrogen storage market in South America was estimated to be $1.2 billion. This figure represents the combined worth of all hydrogen storage-related products and services in the region during that year. The market value of $1.2 billion suggests a significant level of economic activity and investment in hydrogen storage technologies within the South American region. This data provides insights into the growing importance and demand for hydrogen as a clean energy source, as well as the potential opportunities for businesses operating in the hydrogen storage sector in South America.
Among different applications of hydrogen storage, the stationary power segment held the highest market share in 2018.
The statistic stating that among different applications of hydrogen storage, the stationary power segment held the highest market share in 2018 indicates that within the hydrogen storage industry, the segment related to stationary power had the largest proportion of market activity or revenue in that specific year. This suggests that stationary power applications, such as energy generation in power plants, industrial processes, or backup power systems, were the most significant contributors to the overall market for hydrogen storage solutions. The data highlights the demand and prominence of hydrogen storage technology within stationary power sectors compared to other applications like transportation or portable electronics during the specified timeframe.
By 2026, the hydrogen energy storage market in the Middle East & Africa is projected to reach USD 1.58 billion.
The statistic indicates that the hydrogen energy storage market in the Middle East & Africa region is expected to grow significantly by 2026, reaching a projected value of USD 1.58 billion. This forecast suggests a growing interest and investment in hydrogen energy storage solutions in the region, driven by factors such as the increasing focus on renewable energy sources, government initiatives, and the potential for hydrogen to play a key role in the transition to a more sustainable energy system. This projected market value highlights the opportunities and potential economic impact of hydrogen energy storage technologies in the Middle East & Africa over the coming years, indicating a shift towards cleaner and more sustainable energy practices in the region.
Conclusion
Despite facing some challenges, the hydrogen energy storage industry shows promising growth potential based on the statistical trends discussed. With increasing investments and advancements in technology, this industry is poised to play a crucial role in the future of clean and sustainable energy solutions.
References
0. – https://www.www.energiasmarketresearch.com
1. – https://www.www.asdreports.com
2. – https://www.www.precedenceresearch.com
3. – https://www.www.techsciresearch.com
4. – https://www.www.gminsights.com
5. – https://www.www.meticulousresearch.com
6. – https://www.www.alliedmarketresearch.com
7. – https://www.www.grandviewresearch.com
8. – https://www.www.emergenresearch.com
9. – https://www.www.fortunebusinessinsights.com
10. – https://www.www.globenewswire.com
