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Asia Pacific Hydrogen Energy Storage Market Trends

Report ID: GMI7262
Published Date: Nov 2023
Report Format: PDF

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Asia Pacific Hydrogen Energy Storage Market Trends

The Asia Pacific region is currently experiencing a significant upsurge in energy demand, primarily driven by the expansion of its manufacturing and industrial sectors. Additionally, the implementation of stringent emission standards has led to the widespread adoption of clean energy technologies in both the utility sector and industrial facilities. Various governments in the region have introduced new policy initiatives and targets aimed at promoting the integration of clean energy technologies.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific market for hydrogen energy storage was reached USD 8.1 billion in 2022 and is estimated to expand at 8.2% CAGR from 2023 to 2032, owing to the rising number of companies and nations engaged in intense competition for the leadership in clean hydrogen technologies.

Asia Pacific liquid hydrogen energy storage industry generated more than 950 million in 2022 and is projected to gain significant prominence through 2032, due to higher usage in the power generation and industrial sectors.

China held over 32.2% share of the Asia Pacific hydrogen energy storage market in 2022 and is predicted to expand at notable CAGR through 2032, attributed to the increasing investments in the development and adoption of hydrogen fuel cell vehicles.

Some of the leading hydrogen energy storage companies in the Asia Pacific are Air Liquide, Air Products and Chemicals, Inc., Nel ASA, McPhy Energy S.A., Linde plc, ENGIE, ITM Power PLC, FuelCell Energy, Inc., Gravitricity Ltd, and Cockerill Jingli Hydrogen.