HOME Top Market Reports Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026

Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026

By: marketsandmarkets.com
Publishing Date: January 2017
Report Code: CH 4857

 

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The hydrogen storage market size was USD 415.8 Million in 2015 and is projected to reach USD 969.6 Million by 2026, registering a CAGR of 8.1% between 2016 and 2026. In this study, 2014 has been considered as the historical year, 2015 as the base year, and 2016–2026 as the forecast period for estimating the market size of hydrogen storage.

Objectives of the study:

  • To define, describe, and forecast the global hydrogen storage market on the basis of form of storage, type of storage, end-use application, and region
  • To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, opportunities, industry-specific challenges, and opportunities)
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contribution to the total market
  • To analyze the opportunities in the market for stakeholders and present a competitive landscape for the market leaders
  • To forecast the value of market segments with respect to five main regions (along with countries), namely, North America, Europe, Asia-Pacific, the middle East & Africa, and Latin America
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies
  • To analyze competitive developments, such as joint ventures, mergers & acquisitions, new product developments, and R&D in the hydrogen storage market

Research Methodology:

In this report, market sizes have been derived using both bottom-up and top-down approaches. Extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, International Monetary Fund (IMF), World bank, Economic Co-operation and Development (OECD), International Energy Agency (IEA), Securities and Exchange Commission (SEC), and other government and private websites are involved to identify and collect information useful for this technical, market-oriented, and commercial study of the hydrogen storage market.

The market size for each form of storage (physical form and material-based form), type of storage (cylinder, merchant/bulk, on-site, on-board), end-use application (chemical, oil refining, general industry, transportation, and metal working), and region (Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa) is identified through both secondary and primary research. The overall hydrogen storage market size for various regions and countries have been calculated by adding these individual markets. The hydrogen storage market has further been segmented based on application, using percentage split gathered during the research. Findings of this study have been verified through primary research by conducting extensive interviews with key officials, such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the below figure:

Hydrogen Storage Market

To know about the assumptions considered for the study, download the pdf brochure

Market Ecosystem:

Hydrogen storage systems are manufactured from pressure vessel grade steels. The raw material suppliers include Tata Steel (India), BlueScope Steel (Australia), and ThyssenKrupp (Germany). These high grade steels are supplied to tank manufacturers, such as INOXCVA (India), VRV S.p.A. (Italy), and Cryolor (France), who fabricate the steel sheets into different types and sizes, such as cylinders, dewars, and large storage tanks. These tanks are then supplied to gas companies, such as Air Liquide (France) and Linde (Germany), for hydrogen filling. The key players in the hydrogen storage market focus on strategies such as expansion and agreement to increase their regional presence.

Key Target Audience:

  • Hydrogen Storage Manufacturers
  • Hydrogen Storage Suppliers
  • Hydrogen Production Companies
  • Fuel Cells Associations
  • Raw Material Suppliers
  • Traders, Distributors of Hydrogen Storage
  • Government and Regional Agencies and Research Organizations
  • Investment Research Firms

Scope of the Report:

This research report forecasts market size, in terms of both volume and value, and analyzes trends in each of the submarkets. It categorizes the global market for hydrogen storage on the basis of the following segments:

On the basis of Form of Storage:

  • Physical
  • Material-based

On the basis of Type of Storage:

  • Cylinder
  • Merchant/bulk
  • On-site
  • On-board

On the basis of End-Use Application:

  • Chemical
  • Oil Refining
  • General Industry
  • Transportation
  • Metal Working

On the basis of Region:

  • North America
  • Europe including Russia
  • Asia-Pacific
  • Middle East & Africa
  • Latin America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Product Analysis

Product Matrix that gives a detailed comparison of product portfolio of each company

  • Regional Analysis

Further breakdown of a region with respect to a particular country

  • Company Information

Detailed analysis and profiling of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Study
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitation
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Global Physical Hydrogen Storage Market (2016-2021)
    4.2 Physical Hydrogen Storage Market in Asia-Pacific
    4.3 Physical Hydrogen Storage Market Attractiveness

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 Hydrogen Storage Market, By Region
    5.3 Market Dynamics
    5.4 Impact Analysis
           5.4.1 Drivers
                    5.4.1.1 Rising Demand for Low Emission Fuels
                    5.4.1.2 Rise in Demand for Ammonia and Methanol, Globally
                    5.4.1.3 Increased Usage of Hydrogen Storage Tanks in Transportation Application
           5.4.2 Restraints
                    5.4.2.1 Limited Availability of Hydrogen Refueling Infrastructure in Developed Economies
           5.4.3 Opportunities
                    5.4.3.1 Development of Low Weight Storage Tank for Transportation Application
                    5.4.3.2 Development of New Applications for Hydrogen Powered Fuel Cells
           5.4.4 Challenges
                    5.4.4.1 Already Well-Established Infrastructure for Electric Cars

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Suppliers
           6.3.4 Bargaining Power of Buyers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Macro Economic Indicators
           6.4.1 Chemical Industry Outlook
           6.4.2 Fuel Cell Industry

7 Hydrogen Storage Market, By Form of Storage (Page No. - 50)
    7.1 Introduction
           7.1.1 Physical Form of Hydrogen Storage to Remain Dominant
    7.2 Hydrogen Storage Market, By Region
           7.2.1 Asia-Pacific
    7.3 North America
    7.4 Europe
    7.5 Middle East & Africa
    7.6 Latin America

8 Physical Hydrogen Storage Market, By Type of Storage (Page No. - 57)
    8.1 Introduction
    8.2 Physical Hydrogen Storage Market, By Type of Storage, 2015
    8.3 Asia-Pacific Market for Physical Hydrogen Storage, By Type of Storage
           8.3.1 China Market for Physical Hydrogen Storage, By Type of Storage
    8.4 North American Market for Hydrogen Storage, By Type of Storage
           8.4.1 U.S. Market for Physical Hydrogen Storage, By Type of Storage
    8.5 European Market for Hydrogen Storage, By Type of Storage
           8.5.1 Russia Market for Physical Hydrogen Storage, By Type of Storage
    8.6 Middle East & African Market for Hydrogen Storage, By Type of Storage
           8.6.1 Saudi Arabia Market for Physical Hydrogen Storage, By Type of Storage
    8.7 Latin American Market for Hydrogen Storage, By Type of Storage
           8.7.1 Brazil Market for Physical Hydrogen Storage, By Type of Storage

9 Physical Hydrogen Storage Market, By End-Use Application (Page No. - 67)
    9.1 Introduction
    9.2 Chemicals
    9.3 Metal Working
    9.4 General Industrial
    9.5 Transportation

10 Physical Hydrogen Storage Market, By Region (Page No. - 74)
     10.1 Introduction
     10.2 Physical Hydrogen Storage Market, By Region
     10.3 Asia-Pacific
             10.3.1 China
             10.3.2 India
             10.3.3 South Korea
             10.3.4 Japan
             10.3.5 Indonesia
             10.3.6 Singapore
             10.3.7 Rest of Asia-Pacific
     10.4 North America
             10.4.1 U.S.
             10.4.2 Canada
             10.4.3 Mexico
     10.5 Europe
             10.5.1 Russia
             10.5.2 Ukraine
             10.5.3 Germany
             10.5.4 France
             10.5.5 Netherlands
             10.5.6 Italy
             10.5.7 Poland
             10.5.8 U.K.
             10.5.9 Rest of Europe
     10.6 Middle East & Africa
             10.6.1 Saudi Arabia
             10.6.2 Kuwait
             10.6.3 Oman
             10.6.4 Rest of Middle East & Africa
     10.7 Latin America
             10.7.1 Brazil
             10.7.2 Rest of Latin America

11 Competitive Landscape (Page No. - 96)
     11.1 Overview
             11.1.1 Market Share Analysis of Leading Players in Hydrogen Storage Market in 2015
             11.1.2 Partnerships & Agreements
             11.1.3 Expansions
             11.1.4 New Product Launches
             11.1.5 Mergers and Acquisitions
             11.1.6 Joint Ventures

12 Company Profiles (Page No. - 106)
(Company at A Glance, Business Overview, Products Offered, Key Strategy, Recent Developments, SWOT Analysis & MnM View)*
     12.1 Introduction
     12.2 Air Liquide
     12.3 Linde AG
     12.4 Praxair Inc.
     12.5 Worthington Industries Inc.
     12.6 Luxfer Holdings PLC
     12.7 Mcphy Energy S.A.
     12.8 Hexagon Composites ASA
     12.9 Hbank Technologies Inc.
     12.10 Inoxcva
     12.11 VRV S.P.A

*Details on Company at A Glance, Recent Financials, Products Offered, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 133)
     13.1 Insights From Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (69 Tables)

Table 1 Hydrogen Storage Market, By Form of Storage
Table 2 Physical Hydrogen Storage Market, By Type of Storage
Table 3 Physical Hydrogen Storage Market, By End-Use Application
Table 4 Commercially Available Hydrogen Powered Fuel Cell Vehicles
Table 5 Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 6 Asia-Pacific: Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 7 North America: Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 8 Europe: Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 9 Middle East & Africa: Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 10 Latin America: Hydrogen Storage Market Size, By Form of Storage, 2014–2026 (USD Million)
Table 11 Physical Hydrogen Storage Market Size, By Type of Storage, 2014-2026 (USD Million)
Table 12 Asia-Pacific: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 13 China: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 14 North America: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 15 U.S.: Physical Hydrogen Storage Market Size, By Type of Storage, 2014–2026 (USD Million)
Table 16 Europe: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 17 Russia: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 18 Middle East & Africa: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 19 Saudi Arabia.: Physical Hydrogen Storage Market Size, By Type of Storage, 2014–2026 (USD Million)
Table 20 Latin America: Physical Hydrogen Storage Market Size, By Type of Storage , 2014–2026 (USD Million)
Table 21 Brazil: Physical Hydrogen Storage Market Size, By Type of Storage, 2014–2026 (USD Million)
Table 22 Physical Hydrogen Storage: Breakdown of End-Use Applications
Table 23 Physical Hydrogen Storage Market Size, By End-Use Application, 2014-2026 (USD Million)
Table 24 Physical Hydrogen Storage Market Size in Chemicals, By Region, 2014–2026 (USD Million)
Table 25 Physical Hydrogen Storage Market Size in Oil Refineries, By Region, 2014–2026 (USD Million)
Table 26 Physical Hydrogen Storage Market Size in Metal Working, By Region, 2014–2026 (USD Million)
Table 27 Physical Hydrogen Storage Market Size in General Industrial, By Region, 2014–2026 (USD Million)
Table 28 Physical Hydrogen Storage Market Size in Transportation, By Region, 2014–2026 (USD Million)
Table 29 Physicial Hydrogen Storage Market Size, By Region, 2014-2026 (USD Million)
Table 30 Asia-Pacific: Physical Hydrogen Storage Market Size, By Country, 2014–2026 (USD Million)
Table 31 Asia-Pacific: Physical Hydrogen Storage Market Size, By End-Use Application, 2014-2026 (USD Million)
Table 32 China: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 33 India: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 34 South Korea: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 35 Japan: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 36 Indonesia: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 37 Singapore: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 38 Rest of Asia-Pacific: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 39 North America: Physical Hydrogen Storage Market Size, By Country, 2014–2026 (USD Million)
Table 40 North America: Physical Hydrogen Storage Market Size, By End-Use Application, 2014-2026 (USD Million)
Table 41 U.S.: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 42 Canada: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 43 Mexico: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 44 Europe: Physical Hydrogen Storage Market Size, By Country, 2014–2026 (USD Million)
Table 45 Europe: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 46 Russia: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 47 Ukraine: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 48 Germany: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 49 France: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 50 Netherlands: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 51 Italy: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 52 Poland: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 53 U.K.: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 54 Rest of Europe: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 55 Middle East & Africa: Physical Hydrogen Storage Market Size, By Country, 2014–2026 (USD Million)
Table 56 Middle East & Africa: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 57 Saudi Arabia: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 58 Kuwait: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 59 Oman: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 60 Rest of Middle East & Africa: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 61 Latin America: Physical Hydrogen Storage Market Size, By Country, 2014–2026 (USD Million)
Table 62 Latin America: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 63 Brazil: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 64 Rest of Latin America: Physical Hydrogen Storage Market Size, By End-Use Application, 2014–2026 (USD Million)
Table 65 Partnerships & Agreements, 2012–2016
Table 66 Expansions, 2012–2016
Table 67 New Product Launches, 2012–2016
Table 68 Mergers and Acquisitions, 2012-2016
Table 69 Joint Ventures, 2012-2016


List of Figures (40 Figures)

Figure 1 Hydrogen Storage Market: Research Design
Figure 2 Key Insights
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation: Bottom-Up Approach
Figure 5 Market Size Estimation: Top-Down Approach
Figure 6 Hydrogen Storage Market: Data Triangulation
Figure 7 Transportation End-Use Application to Grow Fastest During Forecast Period (2016-2021)
Figure 8 Material Based Form of Hydrogen Storage Dominant in Europe Region in 2015
Figure 9 Latin American Market is Projected to Register Highest CAGR During Forecast Period
Figure 10 Asia-Pacific to Be Largest Market for Physical Hydrogen Storage, By Value, Between 2016 and 2021
Figure 11 Transportation End-Use Application is Expected to Drive the Market Between 2016 and 2021
Figure 12 Physical Hydrogen Storage Market Growth, By Region (2016–2021)
Figure 13 China Accounted for Largest Share of Physical Hydrogen Storage Market in Asia-Pacific in 2015
Figure 14 Latin America to Be Fastest-Growing Market Between 2016 and 2021
Figure 15 Overview of Factors Governing Hydrogen Storage Market
Figure 16 Value Chain Analysis for Hydrogen Storage
Figure 17 Porter’s Five Forces Analysis
Figure 18 Global Chemical Industry Growth Rate, By Region, 2015
Figure 19 Fuel Cell Industry, By Region of Manufacture, 2015
Figure 20 Physical Hydrogen Storage to Witness Rapid Growth (2016–2021)
Figure 21 On-Site Storage to Remain Dominant Among Oil Producing Regions Between 2016 and 2021
Figure 22 Onboard Hydrogen Storage Market to Register Highest Growth During Forecast Period (2016-2021)
Figure 23 Physical Hydrogen Storage Market End-Use Application Split By Region , 2015, By Value
Figure 24 Regional Snapshot (2016–2021): Asia-Pacific and Middle East & Africa are Emerging as Strategic Locations
Figure 25 Key Growth Strategies Adopted By Companies Between 2012 and 2016
Figure 26 Partnerships & Agreements: Most Adopted Growth Strategies
Figure 27 Regional Revenue Mix of Top Five Market Players
Figure 28 Air Liquide: Company Snapshot
Figure 29 Air Liquide: SWOT Analysis
Figure 30 Linde AG: Company Snapshot
Figure 31 Linde AG: SWOT Analysis
Figure 32 Praxair, Inc.: Company Snapshot
Figure 33 Praxair, Inc.: SWOT Analysis
Figure 34 Worthington Industries, Inc.: Company Snapshot
Figure 35 Worthington Industries Inc.: SWOT Analysis
Figure 36 Luxfer Holdings PLC: Company Snapshot
Figure 37 Luxfer Holdings PLC: SWOT Analysis
Figure 38 Mcphy Energy S.A.: Company Snapshot
Figure 39 Hexagon Composites ASA : Company Snapshot
Figure 40 VRV S.P.A : Company Snapshot

The global market size for hydrogen storage is projected to reach USD 969.6 Million by 2026, growing at a CAGR of 8.1% during the forecast period. The market is driven by the rise in demand for transportation fuels, increase in world’s oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels.

The segmentation of the hydrogen storage market includes form of storage, type of storage, end-use application, and region. The cylinder segment is estimated to be the largest storage type segment during the forecast period because of the rise in demand from end-use applications, such as metal working, food, and electronics industries.

By end-use application, the market is segmented into chemicals, oil refining, metal working, general industry, and transportation. Transportation is one of the fastest-growing end-use application segments of the hydrogen storage market owing to the rising demand for hydrogen powered fuel cell vehicles in Europe and North America. The demand of hydrogen powered fuel cells has also been increasing from the various modes of transportation, such as buses, forklifts, trains & trams, and ships & boats. This will further boost the hydrogen storage market.

The report also segments the market based on form of storage into physical form and material-based form. Physical form is the largest and the fastest-growing storage form segment of the market. The large share and high growth of this segment can be attributed to the strong demand of tanks from various end-use applications, such as transportation, oil refining, and chemicals industries.

The Asia-Pacific region dominates the global hydrogen storage market. The growing demand for hydrogen storage in this region is mainly attributed to the strong demand for ammonia and methanol from developing countries, such as China, India, and Malaysia. China’s stringent regulations on oil refineries for producing cleaner fuels are also expected to further boost the demand for hydrogen storage. Moreover, the governments of Japan and South Korea have announced subsidies for manufacturing hydrogen powered fuel cell vehicles and have also extended financial support for the development of hydrogen infrastructure, which will further boost the demand of hydrogen storage in the Asia-pacific region.

Hydrogen Storage Market

Though the hydrogen storage market is growing at a significant rate, the limited availability of hydrogen refilling infrastructure in developing and some parts of developed economies hampers the market growth.

Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), and Luxfer Holdings Plc (U.K.) are some of the leading players in the global hydrogen storage market. These companies account for a significant share of the hydrogen storage market.

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