New Analysis from Global Industry Analysts Reveals Steady Growth for Hydrogen Storage, with the Market to Reach $845.4 Million Worldwide by 2026
SAN FRANCISCO, June 23, 2022
SAN FRANCISCO , June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hydrogen Storage - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 6; Released: January 2022
Executive Pool: 491
Companies: 17 - Players covered include Air Liquide SA; Hbank Technologies Inc.; Hexagon Composites ASA; INOXCVA; Linde AG; Luxfer Holdings Plc; McPhy Energy SA; Praxair, Inc.; Vrv S.P.A; Worthington Industries, Inc. and Others.
Coverage: All major geographies and key segments
Segments: Storage Form (Physical, Material-Based); Type of Storage (Cylinder, Merchant, On-Site, On-Board)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Hydrogen Storage Market to Reach $845.4 Million by 2026
Amid the COVID-19 crisis, the global market for Hydrogen Storage estimated at US$571.2 Million, is projected to reach a revised size of US$845.4 Million by 2026, growing at a CAGR of 6.6% over the analysis period. Physical, one of the segments analyzed in the report, is projected to record a 6.4% CAGR and reach US$552.7 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Material-Based segment is readjusted to a revised 6.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $183.4 Million in 2021, While China is Forecast to Reach $148.8 Million by 2026
The Hydrogen Storage market in the U.S. is estimated at US$183.4 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$148.8 Million by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.2% and 5.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.4% CAGR. More
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SOURCE Global Industry Analysts, Inc.