Industry Background:
Chemical hydrogen storage technology uses a storage carrier to react with hydrogen under specific conditions to produce stable compounds (hydrogenation), and then changes the conditions to achieve hydrogen release (dehydrogenation). Liquid organic hydrogen carrier (LOHC), metal hydride, liquid ammonia, and other current carriers are examples. Chemical Hydrogen storage is a critical enabler technology for the advancement of hydrogen and fuel cell technologies in applications such as stationary power, portable power, and transportation. Hydrogen has the highest energy per mass of any fuel; however, its low ambient temperature density results in a low energy per unit volume, necessitating the development of advanced storage methods with the potential for higher energy density.This growth is primarily driven by Commercial Growth of Reliable Renewable Energy System
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Coal & Consumable Fuels sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Chiyoda Corporation (Japan), Cummins (United States), Hynertech Co Ltd (China), CIMC Enric Holdings Limited (China), Shanghai H-Rise (China), Hexagon Composites (Norway), FuelCell Energy (United States), Nel Hydrogen (Norway), Plug Power Inc. (United States), Hydrogenious Lohc Technologies Gmbh (Germany) and Itn Energy Systems (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 1st July 2021, BayoTech Inc. acquired IGX Group. With this acquisition, BayoTech becomes a full-service hydrogen supplier, offering localized production, transport, storage, and fueling solutions.
On 13th January 2021, Solvay launched a hydrogen platform that will bring together all the innovative material and chemical solutions the Group has to offer to advance the emerging hydrogen economy. At the heart of the platform is Solvay’s membrane technology (ion-conducting polymer), which constitutes a necessary component in the process of hydrogen production. By creating this platform, Solvay is increasing its resources dedicated to this emerging market, including efforts in research and innovation.The players are focusing on launching a new hydrogen platform to increase their resources dedicated to this emerging market, such as efforts in research and innovation. Also, the companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Influencing Trend:
Surge In Investment In R&D Activities To Lower The Cost Of Solutions Such As Batteries Among Players, Uses Of Advanced Electrolysis in Hydrogen Storage and Uses Of Nanotechnology for Developing Nanocomposites of Hydrogen Storage
Market Growth Drivers:
Commercial Growth of Reliable Renewable Energy System, Demand For Cost-Effective Energy Storage System, Growth In Automotive Industry, Demand For Transportation Fuels and Rising Demand for Methanol and Ammonia Gas
Challenges:
High Weight and Volume of Hydrogen Storage as Compared to Conventional Petroleum Fuel Vehicle
Restraints:
High-Cost Associate with Hydrogen Storage Technology
Opportunities:
Growing Adaptability of Low Emission Fuels and Increasing Need for High Energy and Power Supply due to Rising Population
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Chemical Hydrogen Storage Technology Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Chemical Hydrogen Storage Technology Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Chemical Hydrogen Storage Technology players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Chemical Hydrogen Storage Technology Study Sheds Light on
The Chemical Hydrogen Storage Technology Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Chemical Hydrogen Storage Technology industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Chemical Hydrogen Storage Technology industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.