Aerospace Expansion Propels Global Hydrogen Energy Storage Market Growth
Key Ideas
  • The global Hydrogen Energy Storage market is projected to grow to $21.73 billion by 2029 at a CAGR of 6.0%.
  • Aerospace industry expansion is a key driver of market growth, enabling clean and efficient energy solutions for propulsion and power generation.
  • Key players in the industry include Air Liquide, Plug Power Inc., and Cummins Inc., among others.
  • Key trends include the emergence of hydrogen electrolyzers and advancements in storage technologies, meeting rising demand for grid balancing.
The global Hydrogen Energy Storage Market is experiencing robust growth driven by the integration of renewable energy and industrial applications. The market size is projected to reach $21.73 billion by 2029 with a compound annual growth rate (CAGR) of 6.0%. The aerospace sector plays a pivotal role in this growth, utilizing hydrogen energy storage for clean and efficient propulsion and power generation, leading to emission reduction and increased flight durations for aircraft and spacecraft. Key players driving the market growth include Air Liquide, Plug Power Inc., and Worthington Industries. Key market trends include the emergence of hydrogen electrolyzers, expanding hydrogen infrastructure, advancements in storage technologies, and increased usage of hydrogen as a grid balancer. The market is segmented based on storage technology (Compression, Liquefaction, Material Based), state (Liquid, Gas, Solid), and end-user (Commercial, Industrial, Utilities). North America led the market in 2024, with coverage across Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa. The Hydrogen Energy Storage Market Global Market Report provides insights into market size analysis, segmentation analysis, key player focus, growth trends, market contribution, growth drivers, industry challenges, and competitive developments. The Business Research Company offers comprehensive research and insights across various industries, including a vast database of reports and datasets to stay informed and ahead in the market.
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