Nel ASA doubled the electrolyzer order pipeline since January to over USD 6 billion, representing over 11 GW of renewable hydrogen production capacity.
Air Liquide SA and Faurecia SE signed a joint development agreement for designing and producing onboard liquid hydrogen storage systems for the automotive industry.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 3811
Published Date: Jul 20, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The rising demand for hydrogen from various end-use industries and the growing use of stored hydrogen for stationary and backup power applications are the major factors driving the growth of the hydrogen Energy storage market.
The market size of hydrogen Energy storage is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023 ï¿½ 2035.
The major players in the market are Nel ASA, Air Liquide SA, Praxair Inc., VRV S.P.A, Linde AG, Hank Technologies Inc., Murphy Energy S.A., Luxfer Holdings PLC, Hexagon Composites ASA, Worthington Industries, Inc.
The gas segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Europe region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.