GVR Report cover Hydrogen Storage Market Size, Share & Trends Report

Hydrogen Storage Market Size, Share & Trends Analysis Report By Type (Physical Based, Material Based), By Application (Stationary Power, Portable Power, Transportation), By Competitive Landscape, And Segment Forecasts, 2018 - 2025

  • Report ID: GVR-1-68038-308-9
  • Number of Pages: 80
  • Format: Electronic (PDF)

Industry Insights

The hydrogen storage market size was valued at USD 4.0 billion in 2015 and is expected to witness significant growth over the forecast period. Increasing demand for renewable energy is anticipated to drive the market over the coming years. A shift in focus towards alternative energy sources unless regular renewable source is projected to propel the global industry.

Increasing demand for green power is expected to positively influence the market growth. Different methods used to store H2 are high-pressure tanks, cylinders, liquid hydrogen, nanotube adsorption, metal hydrides, and many more. Rising cost concerns for storing H2 is expected to negatively influence the market growth over the coming years.

U.S. hydrogen storage market revenue by application, 2014-2025, (USD Million)

U.S. hydrogen storage market

Growing demand for applications including portable power, stationary power, and transportation is projected to boost the market over the next nine years. Increasing developments for fuel vehicles is expected to drive the transportation sector.

Technological developments by the companies for improving the density to enhance the storing capacity are expected to act favorably for hydrogen storage market participants. Companies have adopted merger and agreement strategies with retailers to strengthen the market presence globally.

Type Insights

The physical-based segment accounted for the largest share in 2015 and was valued at USD 2,903.07 million in 2015. Physical based type is used majorly to store in liquid or gaseous form. Compressed gas storage is widely used for onboard automotive systems. Increasing demand for transportation and bulk storage is expected to boost the market.

The high cost of storage systems is a major hindrance to market growth. The carbon compounds are chemically processed to form materials such as metal hydrides, sorbents, and many others. Rising application in onboard automotive, stationary power, and portable power is expected to witness significant growth over the forecast period owing to its potential in developing markets.

Application Insights

The stationary power segment accounted for the largest share in 2015 and was valued at USD 3,011.03 million in 2015. Increasing demand for H2 for electricity as generators is expected to spur the industry growth over the forecast period. Stationary power application is widely used in airports, data centers, grocery stores, hospitals, retail, homes, telecommunications networks, businesses, and utilities among others.

The transportation segment is expected to be the fastest-growing market over the forecast period. Increasing production of fuel cell vehicles is anticipated to augment the hydrogen storage market growth over the forecast period. Growing advantages of H2 fuel cells in reducing greenhouse emissions is expected to witness significant industry growth over the forecast period.

Regional Insights

Asia Pacific dominated the market in 2015. Asia Pacific regional segment was valued at USD 1,511.51 million in 2015 and is projected to grow at a CAGR of 5.9% over the forecast period. China and India carry a huge potential for growth owing to increasing industrial and residential sectors. Rapid industrialization coupled with growing importance for renewable energy storage is expected to drive the Asia Pacific industry over the forecast period.

Global hydrogen storage market revenue by region, 2015, (USD Million)

Global hydrogen storage market

North America is projected to account for the second-largest share of the market. Rising demand for H2fuel cells for fuelling stations is expected to boost the market growth. Increasing demand for refined hydrogen leading to rising automobile industry and lowering environmental pollution is anticipated to drive the industry.

Hydrogen Storage Market Share Insights

The leading companies operating in the industry are involved in partnership and agreements with hydrogen application sectors and distribution companies to enhance their global presence. Cella Energy Ltd has entered into a partnership with defense and aerospace industries to develop lightweight hydrogen storage material for the aerospace sector. Hexagon Composites ASA has entered into an agreement with compressed hydrogen gas distributors to strengthen their global presence.

Few companies are into vertical integration in order to strengthen their services. The companies invested in technological developments to store hydrogen, as it is costly and not easy to store hydrogen. Key players operating in this industry include Cella Energy Inc., Hexagon Composites ASA, American Elements, Sigma-Aldrich Co. LLC, ATM GmbH, Hanwha Chemicals, Eutectix LLC, H Bank Technology Inc., Pragma Industries, and Ilika Technologies Ltd.

Recent Developments

  • In July 2022, Hanwha Solutions collaborated with Shell to build extensive hydrogen refueling infrastructure in California. Through this collaboration, Hanwha Solutions supplied Shell with its Type IV high-pressure hydrogen tanks, called Neptune to expand its presence in the U.S. hydrogen market

  • In February 2022, Hexagon Purus announced partnership with BMW AG, Robert Bosch GmbH, and TesTneT Engineering GmbH for the project called FlatHyStor. The project aims to develop an innovative hydrogen storage system solution for hydrogen-powered vehicles

Report Scope



Base year for estimation


Actual estimates/Historic data

2014 & 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America & MEA

Country scope

U.S., Canada, Mexico, UK, Germany, China, and India

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

15% free customization scope(equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the hydrogen storage market on the basis of type, application,and region:

  • Type Outlook (Revenue, USD Million, 2014 - 2025)
    • Physical Based

    • Material Based

  • Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Stationary Power

    • Portable Power

    • Transportation

  • Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • UK

      • Germany

      • RoE

    • Asia Pacific

      • India

      • China

      • RoAPAC

    • CSA

    • MEA

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