Chemical Hydrogen Storage Technology Trends and Forecast
The future of the global chemical hydrogen storage technology market looks promising with opportunities in the chemical, fuel, hydrogen refueling station, and automotive markets. The global chemical hydrogen storage technology market is expected to reach an estimated $24.6 billion by 2030 with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are ongoing advancements in material science, catalysis, and chemical engineering, government initiatives aimed at reducing greenhouse gas emissions and transitioning towards a low-carbon economy, and transition towards renewable energy sources, such as wind and solar.
• Lucintel forecasts that organic liquid hydrogen storage is expected to witness the highest growth over the forecast period.
• Within this market, chemical is expected to witness the highest growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Chevron and Toyota have been actively investing in chemical hydrogen storage technology. Toyota announced its plans to introduce 5,000 hydrogen-powered vehicles by 2025, driving the market forward.
Germany: Linde and Siemens focusing on hydrogen storage solutions. The German government has set targets to establish 400 hydrogen refueling stations and produce 5 gigawatts of electrolyzers by 2030, fostering growth.
Japan: Honda and Toshiba are driving innovations in chemical hydrogen storage technology. The Japanese government aims for carbon neutrality by 2050, with hydrogen as a key component.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Chemical Hydrogen Storage Technology by Segment
The study includes a forecast for the global chemical hydrogen storage technology by type, application, and region.
Chemical Hydrogen Storage Technology Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Organic Liquid Hydrogen Storage
• Liquid Ammonia Hydrogen Storage
• Methanol Hydrogen Storage
• Others
Chemical Hydrogen Storage Technology Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Chemical
• Fuel
• Hydrogen Refueling Stations
• Automotive
• Others
Chemical Hydrogen Storage Technology Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Chemical Hydrogen Storage Technology Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies chemical hydrogen storage technology companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the chemical hydrogen storage technology companies profiled in this report include-
• Hydrogenious LOHC Technologies
• Chiyoda Corporation
• Cummins
• Hynertech
• Zijin Mining Group
• Sanju Environmental Protection&New Materials
• CIMC Enric
Recent Development in the Chemical Hydrogen Storage Technology Market
Toyota Motor Corporation announced significant advancements in hydrogen storage technology, specifically in the development of solid-state hydrogen storage systems. This innovation aims to enhance the efficiency and safety of hydrogen-powered vehicles.
Linde, a global industrial gas company, revealed plans for expanding its hydrogen infrastructure, including the construction of new hydrogen refueling stations. This initiative is part of LindeÄX%$%Xs commitment to supporting the growing demand for hydrogen as a clean energy source.
Chevron Corporation announced strategic investments in hydrogen production facilities, focusing on scaling up green hydrogen production through electrolysis. This move aligns with ChevronÄX%$%Xs efforts to transition towards low-carbon energy solutions.
Features of the Global Chemical Hydrogen Storage Technology Market
Market Size Estimates: Chemical hydrogen storage technology market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Chemical hydrogen storage technology market size by type, application, and region in terms of value ($B).
Regional Analysis: Chemical hydrogen storage technology market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the chemical hydrogen storage technology market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the chemical hydrogen storage technology market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the chemical hydrogen storage technology market size?
Answer: The global chemical hydrogen storage technology market is expected to reach an estimated $24.6 billion by 2030.
Q2. What is the growth forecast for chemical hydrogen storage technology market?
Answer: The global chemical hydrogen storage technology market is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the chemical hydrogen storage technology market?
Answer: The major drivers for this market are ongoing advancements in material science, catalysis, and chemical engineering, government initiatives aimed at reducing greenhouse gas emissions and transitioning towards a low-carbon economy, and transition towards renewable energy sources, such as wind and solar.
Q4. What are the major segments for chemical hydrogen storage technology market?
Answer: The future of the global chemical hydrogen storage technology market looks promising with opportunities in the chemical, fuel, hydrogen refueling station, and automotive markets.
Q5. Who are the key chemical hydrogen storage technology market companies?
Answer: Some of the key chemical hydrogen storage technology companies are as follows:
• Hydrogenious LOHC Technologies
• Chiyoda Corporation
• Cummins
• Hynertech
• Zijin Mining Group
• Sanju Environmental Protection&New Materials
• CIMC Enric
Q6. Which chemical hydrogen storage technology market segment will be the largest in future?
Answer: Lucintel forecasts that organic liquid hydrogen storage is expected to witness the highest growth over the forecast period.
Q7. In chemical hydrogen storage technology market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the chemical hydrogen storage technology market by type (organic liquid hydrogen storage, liquid ammonia hydrogen storage, methanol hydrogen storage, and others), application (chemical, fuel, hydrogen refueling stations, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Chemical Hydrogen Storage Technology Market, Chemical Hydrogen Storage Technology Market Size, Chemical Hydrogen Storage Technology Market Growth, Chemical Hydrogen Storage Technology Market Analysis, Chemical Hydrogen Storage Technology Market Report, Chemical Hydrogen Storage Technology Market Share, Chemical Hydrogen Storage Technology Market Trends, Chemical Hydrogen Storage Technology Market Forecast, Chemical Hydrogen Storage Technology Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.