Global Hydrogen Energy Storage Market to Generate $25.4 Billion by 2027: Allied Market Research
Hydrogen Energy Storage Market
Growing application as an alternative to fossil fuel and surge in demand for sustainable power source drive the growth of the hydrogen energy storage market.
PORTLAND, OREGON, UNITED STATES, January 6, 2022 /EINPresswire.com/ -- Asia-Pacific contributed to the highest share in terms of revenue in 2020, contributing to nearly half of the total market share. However, the outbreak of the Covid-19 pandemic led to global lockdown, which in turn, hampered the growth of the hydrogen energy storage market.
According to the report published by Allied Market Research, the global hydrogen energy storage market generated $15.4 billion in 2019, and is projected to reach $25.4 billion by 2027, witnessing a CAGR of 6.5% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Download sample pages: https://www.linkedin.com/feed/update/urn:li:activity:6882696989511942144
Eswara Prasad, a Manager, Energy and Power at Allied Market Research, stated, “The global hydrogen energy storage market is moving toward expansion phase. This is mainly attributed to a significant surge in demand for sustainable energy sources and growth in demand for electric vehicles. Furthermore, various tax incentive schemes from regulatory bodies and robust investment are expected to positively impact the market growth.”
COVID-19 scenario:
• During the outbreak of the COVID-19 pandemic, global lockdown led to cancelled shipments of various energy storage components and hindered project visits, which in turn, hampered the growth of the hydrogen energy storage market.
• However, shifting trend toward DE carbonization and sustainable energy resources will further increase the market demand in post-COVID timeframe.
• Furthermore, with the growing demand for electric vehicles, large number of industry players are investing in new startups in emerging economies, which will further create new market opportunities during the forecast period.
The report offers detailed segmentation of the global hydrogen energy storage market based on product type, application, end user, and region.
Download brochure:
https://www.facebook.com/alliedmarketresearch/photos/a.228006404029264/2120832804746605/
Based on product type, the gas segment held the highest market share in 2020, accounting for nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the solid segment is estimated to register the highest CAGR of 9.2% from 2021 to 2027.
Based on application, the transportation segment held the highest market share in 2020, accounting for more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the stationary segment is estimated to register the highest CAGR of 7.3% from 2021 to 2027.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, contributing to nearly half of the total market share, and is estimated to continue its dominant share by 2027. However, LAMEA region is projected to manifest the fastest CAGR of 8.6% during the forecast period.
Sample insight: https://twitter.com/Allied_MR/status/1477154622208888833
Leading players of the global hydrogen energy storage market analyzed in the research include Air Products and Chemicals, FuelCell Energy, Hydrogenics, Hexagon Composites, ITM Power, Linde, Nel Hydrogen, Air Liquide (France), Plug Power, and Worthington Industries.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285 |UK: +44-845-528-1300 | Hong Kong: +852-301-84916 | India (Pune): +91-20-66346060 | Fax: +1-855-550-5975 Email” help@alliedmarketresearch.com
Follow us on LinkedIn, Facebook, Twitter, Pinterest, YouTube & Instagram
David Correa
Allied Analytics LLP
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.
