Hydrogen Energy Storage Market Size

  • Report ID: 3811
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

Hydrogen Energy Storage Market Size

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

The expansion of industrialization and the growing role of hydrogen in energy transition are fueling market growth. As per findings, hydrogen demand is expected to reach about 180?Mt by 2030, with over 50% of this demand arising from new applications, specifically in heavy industry, power generation, and the production of hydrogen-based fuels.

The rising investment in the creation of a clean energy cycle with the growing utilization of renewable energy and the augment of multilateral cooperation globally is estimated to expand the demand for hydrogen energy storage. For instance, with 44 countries of the world joining hands to make clean technologies affordable and accessible to the world before 2030, a Breakthrough Agenda was launched at COP26 in November 2021, and hydrogen is adopted as one of the breakthroughs in this agenda.


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Author Credits:  Dhruv Bhatia


  • Report ID: 3811
  • Published Date: Oct 10, 2024
  • Report Format: PDF, PPT

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.
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