Hydrogen Energy Storage Market 2022-2028: Industry Latest Updates, Competitive Landscape, Revenue and Upcoming Investments

The global Hydrogen Energy Storage Market was valued at USD 12.72 billion in 2020 and is projected to hit over USD 18.23 billion by 2028, growing at a CAGR of 5.3% from 2020 to 2028.

Hydrogen Energy Storage Market Overview:

The global Hydrogen Energy Storage Market was valued at USD 12.72 billion in 2020 and is projected to hit over USD 18.23 billion by 2028, growing at a CAGR of 5.3% from 2020 to 2028. Hydrogen energy storage, a type of chemical energy storage, is used to store electric power in the form of hydrogen. Hydrogen is produced through electrolysis of water and the gas is stored in medium or large sized containers according to the requirements. The gas can be converted into energy in combustion engine or in fuel cell. Usually, hydrogen energy is stored in three form; liquid, solid, and gaseous form. To store hydrogen in gas form, it requires high high-pressure tanks, whereas it can be stored in liquid form only under cryogenic temperature. Hydrogen storage is widely used in fuel cell technologies for stationary power and transport applications.

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Market Segmentations:

This research report categorizes the Hydrogen Energy Storage to forecast the revenues and analyze the trends in each of the following sub-markets:

Based on Storage Technology, the market was studied across Compression, Liquefaction, and Material Based. The Material Based is further studied across Chemical Hydrides and Metal Hydrides.

Based on End-User, the market was studied across Commercial, Industrial, and Utilities. The Commercial is further studied across Space Heating and Transportation.

Based on Region, the market was studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand. Europe, Middle East & Africa is further studied across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom.

Segments Overview: The Hydrogen Energy Storage Market is segmented as below:

Breakup by Product Type:




Breakup by Technology:



Material Based

Breakup by Application:

Stationary Power


Breakup by End User:



Breakup by Region:

North America

United States






South Korea







United Kingdom





Latin America




Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Air Liquide, Air Products Inc., Caterpillar Inc., Chart Industries Inc., Cummins Inc., H2go Power, Hexagon Composites ASA, ITM Power, Linde plc, McPhy Energy S.A., Plug Power Inc. and Pragma Industries.

A selection of companies mentioned in this report includes:

Air Liquide S.A.

Air Products and Chemicals, Inc.

Bloom Energy Corporation

Chart Industries, Inc.

FuelCell Energy, Inc.

GRZ Technologies SA

Hexagon Composites ASA

Hydrogenics Corporation

Hydrogenious LOHC Technologies GmbH

Iberdrola, S.A.

ITM Power

ITN Energy Systems, Inc.

Linde PLC

McPhy Energy SA


Plug Power, Inc.

Pragma Industries

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Table of Contents

Chapter 1. Methodology and Scope

Market Segmentation & Scope

Research Methodology

Research Scope & Assumption

Information Procurement

Information Analysis

Market Formulation & Data Visualization

Data Validation & Publishing

Chapter 2. Executive Summary

2.1. Market Outlook           

Chapter 3. Hydrogen Energy Storage Market Variables, Trends & Scope

3.1. Market Lineage Outlook

3.2. Penetration and Growth Prospect Mapping

3.3. Industry Value Chain Analysis

3.4. Technology Overview

3.5. Regulatory Framework

3.6. Market Dynamics

3.7. Business Environment Analysis: Hydrogen Energy Storage Market

3.8. Impact of COVID on Hydrogen Energy Storage Market

Chapter 8. Competitive Analysis

8.1. Key Global Players & Recent Developments & Their Impact On The Industry

8.2. Vendor Landscape

8.3. Company Market Position Analysis

Chapter 9. Company Profiles

9.1. Taiyo Nippon Sanso Corporation

9.2. Linde Plc

9.3. Air Products Inc.

9.4. ITM Power

9.5. Cummins

9.6. Iwatani Corporation

9.7. Nel ASA

9.8. Steelhead Composites Inc.

9.9. Air Liquide

9.10. Nedstack Fuel Cell Technology BV

9.11. Engie

9.12. Chart Industries

9.13. Hygear

9.14. PlugPower Inc.

9.15. GKN Sinter Metals Engineering GmbH


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