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Compressed Hydrogen Energy Storage Market Trends

Report ID: GMI5761
Published Date: Dec 2024
Report Format: PDF

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Compressed Hydrogen Energy Storage Market Trends

Compressed Hydrogen Energy Storage Market Size, 2022-2034 (USD Billion)

Recent advancements in hydrogen compression and storage technologies are contributing to the growth of the market. Innovations in compression systems, such as higher-efficiency compressors, are reducing the energy costs associated with compressing hydrogen. These systems are also becoming more compact and safer, which makes them suitable for a wider range of applications. Moreover, new materials and techniques, including advanced composites for pressure vessels and improvements in hydrogen storage tank design, are enhancing storage efficiency and safety.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of compressed hydrogen energy storage reached USD 15.4 billion in 2024 and is set to grow at a CAGR of 8.4% from 2025 to 2034, driven by the increasing demand for clean and sustainable energy solutions.

The transportation segment is expected to expand at a CAGR of more than 9.8% through 2034, led by the growing demand for zero-emission vehicles, particularly fuel cell electric vehicles (FCEVs).

The U.S. market is anticipated to exceed USD 4.3 billion by 2034, propelled by the countrys growing focus on clean energy and decarbonization.

The key players in the industry include Air Liquide, Air Products, Cockerill Jingli Hydrogen, Engie, FuelCell Energy, GKN Hydrogen, Gravitricity, Hydrogen in Motion, ITM Power, Linde, McPhy Energy, Nel, and SSE.