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The Hydrogen Storage Market is projected to reach $33.8 billion by 2030, at a CAGR of 6.8% during the forecast period of 2023 to 2030. The growth of the hydrogen storage market is driven by the increasing use of storage tanks for transporting hydrogen and the growing deployment of hydrogen storage facilities as an energy source for power generation. However, the high capital costs of implementing hydrogen storage facilities restrain the growth of this market.
Increasing government support for hydrogen production and the growing demand for hydrogen fuel cells in FCEV production are expected to generate growth opportunities for the players operating in this market. However, safety concerns over the high flammability of hydrogen are a major challenge for market stakeholders.
Furthermore, the rising use of renewable energy sources for hydrogen production and the increasing use of hydrogen in oil refineries and chemical industries are key trends in the hydrogen storage market.
Here are the top 10 companies operating in the Hydrogen Storage Market
The company supplies industrial gases and services to various industries, including medical, chemical, and electronic manufacturers. The company produces low-carbon hydrogen using electrolysis and methane or biomethane reforming processes. L’AIR LIQUIDE provides hydrogen for the road freight, maritime, and aviation sectors. The company actively engages in large-scale projects and strategic alliances to accelerate the transition to hydrogen for mobility.
Chart Industries, Inc.
The company is a global manufacturer of highly engineered cryogenic equipment. This equipment is used for various applications in the industrial gas and clean energy markets. The company provides technology, equipment, and services related to liquefied natural gas, hydrogen, biogas, CO2 capture and water treatment, and other applications. Chart Industries operates in the market through four business segments: Cryo Tank Solutions, Heat Transfer Systems, Specialty Products, and Repair, Service & Leasing.
The Cryo Tank Solutions segment designs and manufactures cryogenic solutions for the storage and delivery of cryogenic liquids used in industrial gas and LNG applications. The Heat Transfer Systems segment provides its products for natural gas, petrochemical processing, petroleum refining, power generation, and industrial gas companies. The Specialty Products segment supplies highly engineered equipment and process technologies used in specialty end-market applications for hydrogen, LNG, biofuels, CO2 Capture, food and beverage, aerospace, lasers, cannabis, and water treatment. The Repair, Service & Leasing segment provides installation, service, repair, maintenance, and refurbishment of products in leasing solutions.
The company is a global leader in energy services, petrochemicals, and real estate development. The company offers its products for various applications such as green energy, materials, aerospace, ocean & mechatronics, and finance & retail services. Hanwha Corporation offers a wide range of business portfolio that includes chemicals, Qcells, QEnergy, and Insights.
The chemical segment produces petrochemical products such as polyolefin (PO), polyvinyl chloride (PVC), chlor–Alkali (CA), toluene diisocyanate (TDI), and hydrogen tank solutions. The company offers lightweight composite material technology, such as small hydrogen tanks for drones and large hydrogen tanks for hydrogen transportation and storage.
Matheson Tri-Gas, Inc.
The company provides customer solutions, on-site air separation plants, small portable cylinders, and services required to support these products and customer applications. Matheson provides pipeline supply and on-site hydrogen production and storage plants through various processes such as steam methane reforming (SMR) of hydrocarbons, auto thermal reforming (ATR), and partial oxidation (POX). The company offers hydrogen generation solutions in liquid or gas phase and cylinder containers for hydrogen storage. Matheson provides liquid-phase hydrogen delivered in large or small transportable vessels and liquid cylinders. The company offers gas-phase hydrogen, which is supplied in high-capacity tube trailers.
The company provides hydrogen with a purity of up to 99.999% and a capacity of 300 Nm³/h to 200,000 Nm³/h. The company provides the entire process for the manufacture, recovery, purification, storage, liquefaction, and transportation of hydrogen. The company produces hydrogen from a range of feedstocks and natural resources. Linde uses processes like steam reforming to generate hydrogen from natural gas, LPG, or naphtha.
Linde offers liquefaction with modular designs building, which helps maintain the quality standards of hydrogen for efficient performance and long service life. The company offers storage solutions for large-scale hydrogen production. Through the ITM Linde Electrolysis (ILE), the company supplies PEM electrolyzer technologies that help produce integrated green hydrogen solutions for their clients.
Meticulous Research in its latest publication on Hydrogen Storage Market has predicted the growth of 6.8% during the forecast year 2023-2030.
Hexagon Purus ASA
The company is a global leader in key technologies needed for zero-emission mobility, providing type 4 high-pressure cylinders, fuel storage and distribution systems for hydrogen, complete vehicle systems, and battery packs for fuel cell electric and battery electric vehicles (FCEV and BEV). The company caters to various markets, including Light-duty, Medium and heavy-duty, Light commercial vehicles, Distribution systems, Ground storage, Rail, Maritime, Off-highway vehicles, Bus, Aerospace, and Aviation.
The company functions as an operating unit of Luxfer Holdings PLC, specializing in the design and manufacturing of composite and aluminum gas cylinders. Its offerings cater to various applications, including alternative fuel, aerospace, inflation, scuba, medical, specialty gas and industrial, CO2 and beverage, and fire extinguishing.
Merck KGaA
The company is a multinational science and technology company. The company highly invests in hydrogen storage-related research and development. The company operates in the market through three business segments: Life Science, Healthcare, and Electronics. The Life Science segment provides tools, chemicals, and equipment for academic labs, biotech and pharmaceutical manufacturers, and the industrial sector. The healthcare segment discovers, develops, and manufactures innovative pharmaceuticals and biological prescription drugs to treat cancer, multiple sclerosis (MS), infertility, growth disorders, and cardiovascular and metabolic diseases. The electronic segment offers semiconductor solutions, display solutions, and surface solutions.
The company is a global manufacturer and distributor of chemical elements, advanced materials, and high-technology applications. The company offers various technologies such as green technology, space exploration, nanotechnology, advanced electronics, and military technology for various applications. The company also provides testing and analysis services such as spectroscopy structural, thermal, and electrical analyses. The company provides its products across various industries, such as energy, electronics, aerospace, defense, automotive, pharmaceuticals, and cosmetics.
American Elements manufactures materials for hydrogen storage applications, such as hydrogen storage alloys, carbon-based materials, and amine boranes. The company offers hydrogen storage material for compressed gas storage and cryogenic liquid storage.
NPROXX B.V.
The company is a global leader in designing, developing, and manufacturing Type 4 pressure vessels for the storage of hydrogen under high pressure. The company offers high-pressure hydrogen storage for stationary and mobile applications. NPROXX serves the transportation industry for various applications, such as heavy-duty vehicles, passenger vehicles, and maritime applications. The company delivers its products and services across a wide range of industries, such as automotive, railways, H2 infrastructure and transportation, and energy.
Authoritative Research on the Hydrogen Storage Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
Need more information? Meticulous Research®’s new report covers each of these companies in much more detail, providing analysis on the following:
- Recent financial performance
- Key products
- Significant company strategies
- Partnerships and acquisitions
The Comprehensive report provides global market size estimates, market share analysis, revenue numbers, and coverage of key issues and trends.
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