The Latest Hydrogen Storage Industry Statistics Explained
The global hydrogen storage market size was valued at USD 476.5 million in 2019.
The statistic indicates that the global hydrogen storage market reached a value of $476.5 million in 2019. This figure represents the total revenue generated by the hydrogen storage industry worldwide in that year. The market size reflects the level of demand for hydrogen storage solutions, which are crucial for applications such as fuel cells, energy storage, and transportation. The growth of this market size suggests an increasing interest and investment in hydrogen technology as a clean and sustainable energy source. It provides valuable insight into the financial scale and importance of the hydrogen storage sector within the overall energy market landscape.
The hydrogen storage industry is predicted to develop with a CAGR of approximately 8.1% from 2021 to 2030.
This statistic indicates that the hydrogen storage industry is forecasted to experience a Compound Annual Growth Rate (CAGR) of around 8.1% from 2021 to 2030. This implies that the industry is expected to expand steadily over the specified period, with an average annual growth rate of 8.1%. Such growth can be attributed to various factors such as increasing investments in hydrogen infrastructure, developments in hydrogen storage technologies, and a growing focus on decarbonization and renewable energy sources. The projected CAGR suggests a promising future for the hydrogen storage industry, indicating potential opportunities for innovation, market expansion, and heightened interest in hydrogen as a clean energy solution.
The physical hydrogen storage segment had over 55% share in global hydrogen storage market in 2020.
The statistic indicates that in 2020, the physical hydrogen storage segment accounted for more than half (55%) of the market share in the global hydrogen storage market. This suggests that physical storage methods, such as compressed hydrogen tanks or liquefied hydrogen systems, were the most common and widely used methods for storing hydrogen during that period. This segment’s dominance in the market may be attributed to factors such as established infrastructure, relatively lower costs, and proven efficiency in safely storing and transporting hydrogen gas. The significant market share held by the physical hydrogen storage segment highlights its importance and widespread adoption within the global hydrogen storage industry.
The Asia-Pacific region accounted for more than 33% of the hydrogen storage market share in 2019.
The statistic indicates that the Asia-Pacific region held a significant portion of the global hydrogen storage market share in 2019, specifically more than 33%. This suggests that there is a substantial demand for hydrogen storage solutions in countries within the Asia-Pacific region, including but not limited to China, Japan, South Korea, and Australia. The region’s strong market presence could be influenced by various factors such as government support for renewable energy initiatives, technological advancements in hydrogen storage technologies, and a growing focus on decarbonization and sustainable energy practices. This statistic underscores the importance of the Asia-Pacific region as a key player in the global hydrogen storage market and highlights the region’s potential for further growth and development in the coming years.
North America hydrogen storage market is projected to witness a CAGR of approximately 5.9% over 2021-2030.
This statistic indicates that the North America hydrogen storage market is expected to experience a Compound Annual Growth Rate (CAGR) of approximately 5.9% from 2021 to 2030. This suggests a steady and positive growth trend for the hydrogen storage market in North America over the next decade. The CAGR of 5.9% reflects the estimated average annual growth rate of the market during this period, implying an upward trajectory in terms of market size and demand for hydrogen storage solutions in the region. This projection may be influenced by factors such as increasing focus on renewable energy sources, growing adoption of hydrogen as a clean energy carrier, and technological advancements in hydrogen storage technologies.
By 2026, pipeline-based hydrogen storage is projected to witness a growth rate of over 5%.
The statement means that the adoption and usage of pipeline-based hydrogen storage systems is expected to increase significantly over the next five years, with a projected growth rate of more than 5% per year until 2026. This growth rate indicates a positive trend in the industry, showing a growing preference towards storing hydrogen in pipelines as a storage method. The forecasted growth suggests that more investments and advancements in pipeline infrastructure for hydrogen storage are anticipated, likely driven by the increasing demand for hydrogen as a clean energy source. This statistic highlights the potential for pipeline-based hydrogen storage to play a significant role in the future of the hydrogen energy sector.
Physical-based hydrogen storage methods are expected to hold more than a 95% share of the total market by 2030.
The statistic suggests that physical-based hydrogen storage methods, such as compression and liquefaction, are projected to dominate the hydrogen storage market, capturing over 95% of the total market by the year 2030. This indicates a significant shift towards favoring storage solutions that directly involve physical manipulation of hydrogen molecules, as opposed to other methods like solid-state storage or chemical-based methods. The expected dominance of physical-based storage methods could be driven by factors such as cost-effectiveness, technological advancements, and their ability to efficiently store and transport hydrogen for various applications across industries like transportation, energy production, and more. Overall, this statistic highlights the anticipated growth and importance of physical-based hydrogen storage technology in the coming years.
Globally, metal hydrides hold the major share in the material-based storage segment.
The statistic suggests that metal hydrides are the predominant choice within the material-based storage segment for storing something, likely hydrogen gas. This indicates that in a global context, metal hydrides are the most commonly utilized material for storing hydrogen or other substances requiring storage. The use of metal hydrides showcases their superior properties and effectiveness in terms of storage capacity, stability, safety, and efficiency compared to other material-based storage options. This statistic highlights the significant role that metal hydrides play in the field of storage technologies and their widespread adoption on a global scale.
Technological advancement and research in hydrogen storage material are expected to create growth opportunities of over $1.3 billion by 2030.
The statistic highlights the potential economic impact of technological advancements and research efforts in the field of hydrogen storage materials, projecting a substantial growth opportunity of more than $1.3 billion by the year 2030. This suggests that investments and developments in hydrogen storage materials have the potential to greatly benefit industries and economies by creating new opportunities for growth and innovation. Such advancements could lead to the widespread adoption of hydrogen as a clean energy source, driving further advancements in related technologies and industries. Overall, this statistic underscores the significant potential for economic growth and advancement through investments in hydrogen storage materials research and development.
Industrial sector is poised to grow at around 7.5% CAGR through 2025.
The statistic indicates that the industrial sector is expected to experience a Compound Annual Growth Rate (CAGR) of approximately 7.5% between the present year and 2025. This forecast suggests a positive trajectory for the industrial sector, with an anticipated steady and relatively strong growth rate over the specified period. A CAGR of 7.5% signals a significant expansion in the industrial sector, which could be driven by factors such as technological advancements, increased demand for industrial goods and services, or favorable economic conditions. This statistic implies opportunities for investors, businesses, and stakeholders in the industrial sector to capitalize on this projected growth and strategize for the future.
Hydrogen storage in liquid form is expected to register a CAGR of 5.6% between 2020 and 2025.
This statistic indicates that the compound annual growth rate (CAGR) for hydrogen storage in liquid form is projected to be 5.6% over the period from 2020 to 2025. A CAGR of 5.6% suggests a steady and consistent growth rate in the adoption and utilization of liquid hydrogen storage technologies within this timeframe. This growth rate serves as a valuable metric for stakeholders, investors, and policymakers in assessing the expansion and market potential of liquid hydrogen storage solutions within the energy and transportation sectors.
The global hydrogen storage systems market is expected to reach USD 6.47 Billion by 2026.
This statistic implies that the global hydrogen storage systems market is projected to grow significantly over the forecast period, with an estimated value of USD 6.47 billion by the year 2026. This growth suggests a rising demand for hydrogen storage solutions, which can be attributed to increasing focus on sustainable energy sources and the transition towards a low-carbon economy. Factors such as government incentives, technological advancements, and growing investments in hydrogen infrastructure are likely driving the market expansion. The development of innovative storage technologies and the implementation of hydrogen as a clean energy alternative are expected to contribute to the market’s growth and make hydrogen a key player in the future energy landscape.
The physical hydrogen storage technology segment is expected to represent the largest revenue share in hydrogen storage market in Europe.
The statistic suggests that within the European hydrogen storage market, the segment focusing on physical hydrogen storage technology is projected to generate the highest revenue compared to other storage technologies. This indicates that physical storage methods, such as compressed hydrogen gas or solid-state storage, are likely to dominate the market in terms of commercial value. This trend could be driven by factors such as the efficiency, cost-effectiveness, or scalability of physical hydrogen storage technologies in Europe, leading to their greater adoption and revenue generation in the region’s hydrogen storage market.
The physical hydrogen storage method is anticipated to register a market share of more than 70% revenue by 2024.
This statistic indicates that the physical hydrogen storage method is expected to account for over 70% of the total revenue generated in the market by 2024. This forecast suggests that the physical storage method, which involves storing hydrogen gas in high-pressure tanks or through materials-based storage systems, is projected to be the dominant technology for hydrogen storage in the near future. This could be driven by factors such as the efficiency, reliability, and cost-effectiveness of physical storage solutions compared to other methods like liquid hydrogen or chemical storage. The anticipated market share highlights the growing significance and adoption of physical hydrogen storage technology in various industries and applications as the demand for hydrogen as a clean energy source continues to rise.
By 2030, early market deployment is estimated to add more than 140,000 jobs from hydrogen and fuel cells.
This statistic indicates that by 2030, the early market deployment of hydrogen and fuel cells is expected to create over 140,000 job opportunities. This suggests a significant growth potential for the hydrogen and fuel cell industry, which could play a vital role in the transition towards cleaner and more sustainable energy sources. The addition of these jobs not only reflects the increased demand for technologies related to hydrogen and fuel cells but also highlights the potential economic benefits associated with the development and deployment of these renewable energy solutions. The statistic underscores the potential positive impact on employment, economic growth, and environmental sustainability as the world shifts towards cleaner energy alternatives.
In the U.S., the Hydrogen energy storage market is expected to reach a value of $5.9 billion by 2026.
The statistic indicates that the Hydrogen energy storage market in the United States is projected to grow significantly over the coming years, with an expected value of $5.9 billion by 2026. This growth suggests a rising interest and investment in utilizing hydrogen as a form of energy storage, possibly driven by advancements in technology, regulatory support, and increasing awareness of the benefits of hydrogen energy. The substantial market valuation also implies potential opportunities for businesses operating in the hydrogen energy sector, as well as potential contributions to the overall shift towards more sustainable and clean energy solutions in the U.S. economy.
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