Industrial Hydrogen Energy Storage Market - Top Companies and Manufacturers

  • Report ID: 6537
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Companies Dominating the Industrial Hydrogen Energy Storage Landscape

    The key players are innovating in production, storage, and distribution, bringing diversity to hydrogen energy applications. They are also developing technologies to utilize the stored power through hydrogen fuel cell systems and associated storage solutions. In October 2024, Nel ASA’s EPC partner launched IVHY100, a new green hydrogen solution. This model is designed to empower large-scale industries with improved scalability and decarbonization systems. Such innovation will help the company to consolidate its position in the market. Some of the prominent market players include:

    • Air Liquide
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Air Products and Chemicals, Inc.
    • Cockerill Jingli Compressed hydrogen
    • ENGIE
    • FuelCell Energy, Inc.
    • GKN Compressed Hydrogen
    • Gravitricity Ltd
    • ITM Power PLC
    • Linde plc
    • McPhy Energy S.A.
    • Bharat Petroleum Corp.
    • Reliance Industries
    • Nel ASA
    • SSE

Browse Key Market Insights with Data Illustration:

In the News

  • In June 2024, HDF Energy received a grant of around USD 0.2 billion from the European Commission for the development and industrialization of high-power hydrogen fuel cells.  This funding will further support its industrial project within the framework of IPCEISs.
  • In September 2024, Australia and Germany signed a deal with a funding of around USD 0.7 billion, in the 2024 Asia Pacific Hydrogen Summit. This strategic agreement will further guarantee German buyers for Australian renewable hydrogen.
  • In September 2023, Iberdrola and ABEL Energy announced an investment of around USD 1.2 billion to build a green hydrogen and green methanol production plant in Australia.

Author Credits:  Dhruv Bhatia


  • Report ID: 6537
  • Published Date: Oct 11, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the industrial hydrogen energy storage market was over USD 12.5 billion.

The market size for the industrial hydrogen energy storage market is projected to reach USD 31.5 billion by the end of 2037 expanding at a CAGR of 8% during the forecast period i.e., between 2025-2037.

The major players in the market are Air Liquide, Air Products and Chemicals, Inc., Cockerill Jingli Compressed Hydrogen, ENGIE, FuelCell Energy, Inc., GKN Compressed Hydrogen, Gravitricity Ltd, ITM Power PLC, Linde plc, McPhy Energy S.A., Bharat Petroleum Corp., Reliance Industries, Nel ASA, SSE, and others.

In terms of method, the compression segment is anticipated to garner the largest market share of 83.2% by 2037 and display lucrative growth opportunities during 2025-2037.

The market in Asia Pacific is projected to hold the largest market share of 58.4% by the end of 2037 and provide more business opportunities in the future.
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