DUBLIN, Jan 19, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the "Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026" report to their offering.
The global market size for hydrogen storage is projected to reach USD 969.6 Million by 2026, growing at a CAGR of 8.1% during the forecast period.
The market is driven by the rise in demand for transportation fuels, increase in world's oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels.
The Asia-Pacific region dominates the global hydrogen storage market. The growing demand for hydrogen storage in this region is mainly attributed to the strong demand for ammonia and methanol from developing countries, such as China, India, and Malaysia. China's stringent regulations on oil refineries for producing cleaner fuels are also expected to further boost the demand for hydrogen storage. Moreover, the governments of Japan and South Korea have announced subsidies for manufacturing hydrogen powered fuel cell vehicles and have also extended financial support for the development of hydrogen infrastructure, which will further boost the demand of hydrogen storage in the Asia-pacific region.
Though the hydrogen storage market is growing at a significant rate, the limited availability of hydrogen refilling infrastructure in developing and some parts of developed economies hampers the market growth.
Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), and Luxfer Holdings Plc (U.K.) are some of the leading players in the global hydrogen storage market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Hydrogen Storage Market, by Form of Storage
8 Physical Hydrogen Storage Market, by Type of Storage
9 Physical Hydrogen Storage Market, by End-Use Application
10 Physical Hydrogen Storage Market, by Region
11 Competitive Landscape
12 Company Profiles
- Air Liquide
- HBank Technologies Inc.
- Hexagon Composites ASA
- Linde AG
- Luxfer Holdings Plc
- Mcphy Energy S.A.
- Praxair Inc.
- VRV S.P.A
- Worthington Industries Inc.
For more information about this report visit http://www.researchandmarkets.com/research/qqtl52/hydrogen_storage
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SOURCE Research and Markets