Global Hydrogen Storage Market to Reach USD 6.47 Bn in 2025, Forecasts Grand View Research in Its New Study Available at MarketPublishers.com06 Jan 2017 • by Natalie Aster
LONDON – The size of the global hydrogen storage market is expected to amount to USD 6.47 billion by 2025. Favourable governmental regulations from the USA’s Department of Energy for creating alternative energy as fuel will likely augment the market positively in the forthcoming years. Booming population and a hike in disposable income levels are projected to simulate the market growth in years to come.
Rising concerns over the cost of hydrogen production are set to pose a key challenge to the market growth. Surging need for uninterrupted energy supply in the energy industry is projected to contribute to the development and expansion of hydrogen storage systems.
Based on type, physical based segment took the lead in the hydrogen storage marketplace as of 2015 grabbing a share of more than 72.6% of the overall industry.
The move in trend towards generating alternative renewable energy from oxygen, fuel cells, and hydrogen is forecast to boost the market. Soaring demand for power consumption due to fast-paced urbanisation and industrialisation is poised to drive H2 storage during the forecast period.
Companies like Eutectix LLC and Cella Energy Ltd have entered into an alliance with auto enterprises and hydrogen generation companies local for distributing hydrogen storage.
In-demand research report “Hydrogen Storage Market Analysis” created by Grand View Research presents trustworthy data and information with respect to the worldwide market for hydrogen storage systems.
The study offers a comprehensive overview of this marketplace, covering market scope and segmentation by type and application; market size estimates and growth prospects, 2014-2025; technology landscape; key opportunities prioritized; value chain analysis; Porter’s and PESTEL analysis on the industry. Market dynamics including market drivers and restraints is also reviewed in detail. The report canvasses the competitive environment, and comprises profiles of the top players (10 in total).
More in-demand research studies by Grand View Research are on hand at its page.