Stationary Hydrogen Energy Storage Market Size - By Method (Compression, Liquefaction, Material-Based), Forecast, 2024 – 2032

Stationary Hydrogen Energy Storage Market Size

The global stationary hydrogen energy storage market size was assessed at USD 3.86 billion in 2023 and is envisioned to grow at a CAGR of 8.7% through 2032. The innovations in technology for storing, be it solid-state or liquid hydrogen, are being developed to enhance efficacy and decrease costs. Such advancements are favorable for the cost-effectiveness and performance of Hydrogen storage solutions. The shift towards decarbonization and usage of renewable sources of energy creates a need for efficient hydrogen storage systems. Hydrogen is regarded as an important factor in the integration of fluctuating renewable energy sources in order to achieve grid stability.
 

Considerable investment is being put into hydrogen infrastructure, be it production, storage or distribution. This is motivated by both public and private sectors’ funding which aims at increasing storage capacity for Hydrogen while reducing the investment needed for its infrastructure. In order to promote hydrogen energy, governments and regulatory agencies are coming up with policies and incentives. These include subsidies, tax exemptions, and provision for the basic acceptance of strategic aid to the development and use of hydrogen storage technologies.

Stationary Hydrogen Energy Storage Market Trends

Strategic partnerships are increasingly being formed between business leaders, technology providers, and research institutes, and these partnerships are promoting creativity and speeding the implementation of hydrogen storage systems. There is an increased interest in storing energy in hydrogen form primarily from the perspective of GHG emission reduction and flexible energy storage. Its contribution towards achieving net-zero emission targets is well accepted. The market is growing across the world, with notable increase in Europe, North America, and Asia Pacific. This growth is fueled by local efforts and spending towards hydrogen technology.
 

Stationary Hydrogen Energy Storage Market Analysis

The compression segment is expected to reach USD 6.5 billion by 2032. While hydrogen has become a more popular energy carrier, the need for efficient, scalable storage solutions has risen. Hydrogen compression technology is essential to make various applications more feasible. With improved efficiency, reduced energy consumption, and increased safety, the compression segment is anticipated to rise due to technological changes in the compression systems. Innovation in engineering and materials is aiding in the production of more advanced, cost effective, and reliable compression solutions.
 

The Asia Pacific stationary hydrogen energy storage market is expected to surpass USD 3.25 billion by 2032. Currently, the Asia Pacific region is undergoing swift technological improvements in hydrogen storage including the development of advanced high-pressure compression techniques, liquefaction, and solid-state storage. The goal of these developments is to enhance the efficiency, safety, and cost-effectiveness of hydrogen storage solutions. Member countries in the Asia-Pacific region are adopting friendly policies and incentives to encourage the use of hydrogen technologies. These policies include subsidies, tax breaks, and other policies aimed at developing hydrogen economies and infrastructure storage solutions.
 

The U.S. stationary hydrogen energy storage market is experiencing great improvements in hydrogen storage technologies, especially in high pressure compression, liquefaction and advanced solid state storage solutions. Government and private initiatives are making these changes to improve the performance, security, and expandability of hydrogen storage systems. Federal and state government is passing laws and regulations friendly to the development and usage of hydrogen energy storage systems.
 

Stationary Hydrogen Energy Storage Market Share

Air Liquide has emerged as a major force in the stationary hydrogen energy storage business owing to its strong production potential, persistent investment in new technology, and agreements with leading hydrogen manufacturers. The focus of Air Liquide’s transformation has resulted in innovative hydrogen energy storage technologies that are supporting the increased requirement for clean and efficient energy technologies.
 

Stationary Hydrogen Energy Storage Market Companies

Top companies operating in the stationary hydrogen energy storage industry include:

• Air Liquide
• Air Products and Chemicals, Inc.
• Cockerill Jingli Compressed hydrogen
• ENGIE
• FuelCell Energy, Inc.
• GKN Compressed Hydrogen
• Gravitricity Ltd
• ITM Power PLC
• Linde plc
• McPhy Energy S.A.
• Nel ASA
• SSE
   

Stationary Hydrogen Energy Storage Industry News

• In May 2021, Gravitricity developed a stored energy demonstrator that integrates gravity energy systems with heat and hydrogen energy storage to improve its underground hydrogen storage capabilities. This initiative is addressing the growing need for cheaper and more reliable methods of hydrogen storage and renewable energy.
   
• In September 2020, Air Products and Chemicals, Inc. has partnered with the European Clean Hydrogen Alliance to enable the region to make progress towards a more sustainable and competitive economy. This alliance aims at strengthening Europe’s competitiveness in hydrogen and lays the foundation for a well-developed stationary hydrogen network in the EU. The joint venture increases the company’s foothold within the region and further strengthens the company’s position in the hydrogen market.
   

The stationary hydrogen energy storage market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Method

• Compression
• Liquefaction
• Material-Based

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
• Rest of World