Dublin, Sept. 22, 2022 (GLOBE NEWSWIRE) — The “Global Hydrogen Energy Storage Market by State (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial), Region – Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global hydrogen energy storage market is projected to reach USD 119.2 Billion by 2027 from an estimated market size of USD 13.8 Billion in 2022, at a CAGR of 54.0% during the forecast period.
The market has a promising growth potential due to several factors, including the role of hydrogen energy storages playing in carbon emission reduction and Increase in fuel cell based electric vehicles and hydrogen storage infrastructure are driving the hydrogen energy storage market.
Gas: The fastest growing segment of hydrogen energy storage market, by state
Hydrogen as a gas is colorless, highly flammable, and the lightest of all other elements. It is used in the production of synthetic ammonia and methanol, in petroleum refining, in the hydrogenation of organic materials, and in rocket fuels. Hydrogen has the highest energy per mass of any fuel. However, its low ambient temperature density results in a low energy per unit volume, therefore requiring the