Hydrogen Energy Storage Market Analysis

State (Liquid, Gas, Solid)

The gas segment is anticipated to garner a substantial share of 40% by 2037 due to the rising demand for hydrogen gas from transportation, agriculture, and several end-use industries. Currently, the storage of hydrogen in gaseous form needs large-volume systems. Hence, the rise in research and development to develop advanced hydrogen storage systems and new storage materials is expected to boost segment growth.

Additionally, the liquid segment is counted to grow at a notable rate by 2037 owing to the increase in the number of space programs and escalating demand for rocket fuels. Mostly, the transportation of hydrogen takes place in liquid form.

Application (Transportation, Stationary Power, Portable Power)

The transportation segment is projected to witness significant growth in the upcoming years. The segment growth is backed by the augmenting demand for hydrogen as a fuel in the automotive sector as hydrogen-powered vehicles release zero emissions which will sharply reduce the global carbon footprint. For hydrogen energy storage for transportation applications, many vehicle producers are working on developing lightweight, compact, safe, and cost-effective storage that can be available at a driving range of at least 300 miles.

Our in-depth analysis of the global market includes the following segments:

State	Liquid Gas Solid
Technology	Compression Liquefaction Material Based
End User	Industrial Commercial Utilities
Application	Transportation Stationary Power Portable Power

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of hydrogen energy storage is assessed at USD 14.74 billion.

The hydrogen energy storage market size was over USD 13.91 billion in 2024 and is projected to reach USD 35.47 billion by the end of 2037, witnessing around 7.4% CAGR during the forecast period i.e., between 2025-2037. The rising demand for hydrogen from various end-use industries and the growing use of stored hydrogen for stationary and backup power applications will boost the market growth.

Europe industry is predicted to be the largest with a share of about 30% by 2037, impelled by increasing emphasis placed on developing a greener economy and the rising investment in clean energy together with augmenting fuel cells technology collaboration programs in the region.

The major players in the market include Nel ASA, Air Liquide SA, Praxair Inc., VRV S.P.A, Linde AG, Hank Technologies Inc., Murphy Energy S.A., Luxfer Holdings PLC, Hexagon Composites ASA, Worthington Industries, Inc.

Hydrogen Energy Storage Market Analysis