재료 기반 수소에너지 저장 시장 보고서 : 동향, 예측 및 경쟁 분석(-2035년)

Material Based Hydrogen Energy Storage Market

The future of the global material based hydrogen energy storage market looks promising with opportunities in the transportation, industrial, energy storage system, and portable power markets. The global material based hydrogen energy storage market is expected to reach an estimated $11.1 billion by 2035 from $3.4 billion in 2027 with a CAGR of 14.5% from 2027 to 2035. The major drivers for this market are the increasing demand for renewable energy storage, the rising adoption of hydrogen based energy systems, and the growing investments in clean energy infrastructure.

• Lucintel forecasts that, within the deployment type category, on-site storage will remain the largest segment over the forecast period due to the increasing need for efficient and reliable hydrogen storage solutions.
• Within the application category, transportation will remain the largest segment over the forecast period due to the growing adoption of hydrogen powered transportation.
• In terms of regions, North America will remain the largest region over the forecast period due to the advanced energy infrastructure and increasing clean technology investments.

Emerging Trends in Material Based Hydrogen Energy Storage Market

Material based hydrogen storage is expected to evolve beyond metal hydrides within the next few years and focus on other technologies. As hydrogen is expected to decrease in cost, developers will be looking for higher densities and storage system costs will become more important. Lucintel believes technology diversification and cross-border licenses will drive which storage platforms will be commercialized first.

• Storage Chemistry Diversification: H2MOF's announcement in July of 2024 shows that metal organic framework storage materials will enter the market in competition with metal hydride storage materials; GKN Hydrogen's existing metal hydride storage materials; and solid state storage materials which number over thirty and are focused on global development from 2023 to 2025. Until these competing materials present better cost and higher performance, research and development into new materials will continue to fragment the market.
• Cross-border Technology Licensing: Rather than building sales infrastructure, storage developers take the route of GKN Hydrogen to provide licenses and collaborate with regional automotive and industrial partners. This will continue to drive storage technology developers to enter new markets quickly when they are unable to achieve standalone regional market development.
• Powder Metallurgy Manufacturing Integration: Vertically integrated companies will benefit from having capability to manufacture metal hydride tanks using already available precision metal forming to produce storage systems at lower costs than startups focused on material science.
• Positioning for Long-term Storage and Grid Stabilization: Storage for long-duration, grid-stabilization, stationary applications are now becoming targeted markets for material based hydrogen storage systems, as renewable energy generation creates a need for storage systems over the duration of days rather than hours.
• Government-backed Deployment of Capital: Government hydrogen strategies are funneling a significant amount of both public and private funds toward storage infrastructure as opposed to production capacity.

This suggests an emphasis on partnerships with technology and the integration of manufacturing over the performance of raw materials. Companies that combine superior chemistry with an industrial manufacturing background will distinguish themselves from the rest of the industry which is dominated by early-stage companies that have yet to demonstrate real world applications.

Recent Developments in the Material Based Hydrogen Energy Storage Market

Activity dealing with the acquisition of materials and partnerships for hydrogen storage were seen in 2024 and 2026 with engineering groups and automotive suppliers looking to secure positions in metal hydride storage and next generation storage chemistries. From Lucintel's research, the activity focused on consolidation of ownership and partnerships between different segments of the automotive industry.

• Consolidation of Storage Technology: In August 2024 Langley Holdings plc acquired GKN Hydrogen from Dowlais Group and brought the metal hydride storage company into its Power Solutions Division. When smaller storage companies consolidate with a larger industrial company, storage companies now have manufacturing and financial resources at their disposal, thus decreasing the financial risk of smaller storage endeavors.
• Collaborations in The Automotive Mobility Ecosystem: In September 2024 Hyundai Motor and Skoda Group signed a memorandum of understanding to collaborate on the hydrogen economy and sustainable future of mobility, further expanding the number of automotive companies determined to incorporate hydrogen storage. Partnerships across multiple automakers show that hydrogen storage is moving beyond test deployment to coordinated, platform-level commitments.
• Research and Development of Materials: In 2025, the ALIAD fund sponsored by Air Liquide made a reported $25 million investment in a metal hydride startup, and is representative of the industrial gas majors that are funding early-stage storage material science. Corporate venture funds afford hydrogen storage startups both capital and a potential future buyer or distribution partner.
• Integration of Fuel Cell Systems: In 2025 Plug Power added integrated solid-state storage systems to its GenKey hydrogen energy systems for material handling, data center backup, and transportation depot applications throughout North America.
• Long-duration Storage Feasibility Research: Uniper Energy Storage launched a hydrogen storage research project investigating the feasibility of large scale hydrogen storage in pore storage facilities.

Rather than developing their own capabilities, several large industrial groups and automakers are purchasing or forming alliances to obtain specialized storage technologies This trend is likely to continue as storage developers of chemistry technologies pursue manufacturing scale and distribution outside their resources.

Strategic Growth Opportunities in the Material Based Hydrogen Energy Storage Market

Storage chemistry innovation and increasing interest in long-duration storage are creating new opportunities for revenue growth that extend beyond the automotive sector and the hydrogen tanks. According to Lucintel, there will be substantial margin for growth in the coming years in backup data center power, long-duration grid-scale storage, and market entry via licensing.

• Data-center and Mission-critical Backup Power: Solid-state storage systems that integrate into hydrogen energy platforms, following Plug Power's GenKey deployment, have the ability to serve a customer segment with different reliability requirements than automotive mobility. There are data center operators who have a strong incentive to purchase high reliability backup power to offset the grid's unreliability.
• Grid-scale Long-duration Storage: Given the International Energy Agency's prediction that achieving net zero emissions by 2025 would require deployment of over 585 GW of long-duration energy storage worldwide, a deployment that batteries will not be able to accomplish, creates a large, untapped market for materials-based hydrogen storage. This gap between the potential of batteries and the demand for grid storage creates a safe market niche for hydrogen storage that batteries will not be able to penetrate.
• Licensing-based Geographic Expansion: Rather than setting up new manufacturing and sales operations in each new market, storage technology developers can take the approach of GKN Hydrogen and adopt local automotive and industrial partnerships to enter new markets more rapidly.
• Powder Metallurgy Manufacturing Partnerships: Storage developers that do not have in-house precision metal forming can partner with established powder metallurgy manufacturers to rapidly reach high volume production at low cost, without a heavy capital expense.
• Residential and Distributed Storage: Metal hydride systems in a containerized form allow residential and small commercial applications to participate in a different version of the distributed energy market from utilities and automotive markets.

Some development of this technology may require that data center backup and grid-scale storage be considered as distinct opportunities from "auto adjacent" applications. Those companies that decide to build this technology in the underserved segments will outperform those companies that continue to develop mobile hydrogen storage systems.

Material Based Hydrogen Energy Storage Market Drivers and Challenges

The need for material-based hydrogen for long-duration grid storage and increasing mobility is driving demand, while fragmented material chemistries and high costs prevent standards from emerging. Lucintel's analysis predicts what will drive growth in the sector by 2030 to be the integration of renewables and government funding.

Drivers

• Long-duration Storage Gap: The International Energy Agency estimates that, by 2025, the world's need for long-duration storage to reach net-zero will be at least 585 GW, which would require a scale that batteries cannot fill. As long as this gap exists, the investment in long-duration storage, including in material-based hydrogen systems, will continue.
• Government Support of National Hydrogen Strategies: In Germany, the support for its National Hydrogen Strategy meant investment over €20 billion for both the production and storage of hydrogen. This shows that, as long as governments support the funding for such projects, material-based hydrogen storage will continue to grow.
• Renewables Grid Stabilization: With increasing deployment of intermittent solar or wind, excess generation is creating a need for longer duration storage to release renewable generation. With deeper deployment of renewables, material-based storage will continue to grow for longer duration grid storage.
• Hydrogen Mobility: Collaborations from major automakers are creating a need for material-based storage for FCEVs. The major commitment in this sector will create a need for material-based storage.
• Current Capabilities Integration: Developers utilizing powder metallurgy and precision manufacturing that are integrated within Langley Holdings post GKN Hydrogen acquisition have a cost advantage over pure-play material science startups. As the storage market matures, the manufacturing integration will favor more vertically integrated companies.

Challenges

• High Overall System Cost: Storage systems based on materials are economically challenging to compete with systems using compressed gas, which lead to low adoption rates in applications in which density and safety do not overcome the significant price difference.
• Diverse Material Chemistry: With almost 35 new solid state storage companies starting operations after 2023 employing various Classes of materials, the lack of a favored Materials platform adds to the complexity of the supply chain and manufacturing.
• Insufficient Commercial Validation: Operating in the pilot/demonstration phase of technology leads to funding challenges for the storage technology developers and project financiers.

Combination of long-term high demand for energy storage and government funding ensures material based hydrogen storage will be adopted, despite the high costs due to diverse chemistry. Among developing companies, the first to integrate and manufacture vertically with government backed funding has a significantly advantage over the next 5 years.

List of Material Based Hydrogen Energy Storage Market 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. Through these strategies material based hydrogen energy storage market companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the material based hydrogen energy storage market companies profiled in this report include-

• Hydrogenics Corporation
• Air Products and Chemicals Inc.
• Linde AG
• Nel ASA
• ITM Power PLC
• Plug Power Inc.
• Ballard Power Systems Inc.

Material Based Hydrogen Energy Storage Market by Segment

The study includes a forecast for the global material based hydrogen energy storage market by deployment type, storage material, technology, application, and region.

Material Based Hydrogen Energy Storage Market by Deployment Type [Value ($B) from 2019 to 2035]:

• On-Site Storage
• Distributed Storage
• Mobile Storage

Material Based Hydrogen Energy Storage Market by Storage Material [Value ($B) from 2019 to 2035]:

• Metal Hydrides
• Chemical Hydrides
• Cryogenic Hydrogen Storage
• Carbon-Based Materials

Material Based Hydrogen Energy Storage Market by Technology [Value ($B) from 2019 to 2035]:

• Emerging Technologies
• Established Technologies
• Advanced Research

Material Based Hydrogen Energy Storage Market by Application [Value ($B) from 2019 to 2035]:

• Transportation
• Industrial
• Energy Storage Systems
• Portable Power

Material Based Hydrogen Energy Storage Market by Region [Value ($B) from 2019 to 2035]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

Country Wise Outlook for the Material Based Hydrogen Energy Storage Market

In 2024 and 2026, material-based hydrogen storage technology developed from lab to market with numerous acquisitions, partnerships, and funds allocated to metal hydride and MOF technologies. The latest Lucintel report indicates that the developments most indicative of commercialization of hydrogen storage chemistry are currently strategic partnerships and technology transfer.

• United States: H2MOF developed a novel solid-state hydrogen storage material in July 2024 utilizing metal-organic framework technology awarded the Nobel Prize for Chemistry; the material can adsorb hydrogen in a porous matrix at low pressure, and offers U.S. developers a novel hydrogen storage chemistry against current European competitors' metal hydrides.
• China: GKN Hydrogen signed a memorandum of understanding with the automotive supplier ZYNP in June 2024 to introduce their metal hydride hydrogen storage technology to the Chinese market; the agreement positions GKN within China's emerging hydrogen mobility and industrial storage market through a dominant domestic automotive supply chain.
• Germany: The German public and private sectors combined to invest over €20 billion in hydrogen as part of the National Hydrogen Strategy and companies such as GKN Hydrogen are supplying containerized metal hydride storage systems for both industrial and residential use; this large and stable funding bias further supports Germany's dominance of the material-based hydrogen storage market in Europe.
• India: GAIL, in May 2024, built India's first green hydrogen production facility in Madhya Pradesh with the ability to produce 4.3 tons of green hydrogen per day with a purity level of 99.999 percent. The National Green Hydrogen Mission set aside Rs. 400 Crore towards research on hydrogen storage and processing, a commitment that helps to further India's commitment of building indigenous storage technology in line with its goal of producing 5 MMT per year by 2030.
• Japan: GKN Hydrogen signed a MoU with Mitsubishi Corporation in December 2023 to bring the technology for metal hydride hydrogen storage to Japan, and has planned discussions for technology deployment in 2024 and 2025. This agreement helps Mitsubishi develop the potential of solid-state hydrogen storage for Japan's hydrogen mobility and power generation sectors.

Features of the Global Material Based Hydrogen Energy Storage Market

• Market Size Estimates: material based hydrogen energy storage market size estimation in terms of value ($B).
• Trend and Forecast Analysis: Market trends (2019 to 2026) and forecast (2027 to 2035) by various segments and regions.
• Segmentation Analysis: material based hydrogen energy storage market size by various segments, such as by deployment type, storage material, technology, application, and region in terms of value ($B).
• Regional Analysis: material based hydrogen energy storage market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different deployment types, storage materials, technology, applications, and regions for the material based hydrogen energy storage market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape of the material based hydrogen energy storage market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the material based hydrogen energy storage market by deployment type (on-site storage, distributed storage, and mobile storage), storage material (metal hydrides, chemical hydrides, cryogenic hydrogen storage, and carbon-based materials), technology (emerging technologies, established technologies, and advanced research), application (transportation, industrial, energy storage systems, and portable power), 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 6 years and what has its impact been on the industry?

Table of Contents

1. Executive Summary

2. Market Overview

• 2.1 Background and Classifications
• 2.2 Supply Chain

3. Market Trends & Forecast Analysis

• 3.1 Macroeconomic Trends and Forecasts
• 3.2 Industry Drivers and Challenges
• 3.3 PESTLE Analysis
• 3.4 Patent Analysis
• 3.5 Regulatory Environment

4. Global Material Based Hydrogen Energy Storage Market by Deployment Type

• 4.1 Overview
• 4.2 Attractiveness Analysis by Deployment Type
• 4.3 On-Site Storage : Trends and Forecast (2019 to 2035)
• 4.4 Distributed Storage : Trends and Forecast (2019 to 2035)
• 4.5 Mobile Storage : Trends and Forecast (2019 to 2035)

5. Global Material Based Hydrogen Energy Storage Market by Storage Material

• 5.1 Overview
• 5.2 Attractiveness Analysis by Storage Material
• 5.3 Metal Hydrides : Trends and Forecast (2019 to 2035)
• 5.4 Chemical Hydrides : Trends and Forecast (2019 to 2035)
• 5.5 Cryogenic Hydrogen Storage : Trends and Forecast (2019 to 2035)
• 5.6 Carbon-Based Materials : Trends and Forecast (2019 to 2035)

6. Global Material Based Hydrogen Energy Storage Market by Technology

• 6.1 Overview
• 6.2 Attractiveness Analysis by Technology
• 6.3 Emerging Technologies : Trends and Forecast (2019 to 2035)
• 6.4 Established Technologies : Trends and Forecast (2019 to 2035)
• 6.5 Advanced Research : Trends and Forecast (2019 to 2035)

7. Global Material Based Hydrogen Energy Storage Market by Application

• 7.1 Overview
• 7.2 Attractiveness Analysis by Application
• 7.3 Transportation : Trends and Forecast (2019 to 2035)
• 7.4 Industrial : Trends and Forecast (2019 to 2035)
• 7.5 Energy Storage Systems : Trends and Forecast (2019 to 2035)
• 7.6 Portable Power : Trends and Forecast (2019 to 2035)

8. Regional Analysis

• 8.1 Overview
• 8.2 Global Material Based Hydrogen Energy Storage Market by Region

9. North American Material Based Hydrogen Energy Storage Market

• 9.1 Overview
• 9.2 North American Material Based Hydrogen Energy Storage Market by Deployment Type
• 9.3 North American Material Based Hydrogen Energy Storage Market by Application
• 9.4 The United States Material Based Hydrogen Energy Storage Market
• 9.5 Canadian Material Based Hydrogen Energy Storage Market
• 9.6 Mexican Material Based Hydrogen Energy Storage Market

10. European Material Based Hydrogen Energy Storage Market

• 10.1 Overview
• 10.2 European Material Based Hydrogen Energy Storage Market by Deployment Type
• 10.3 European Material Based Hydrogen Energy Storage Market by Application
• 10.4 German Material Based Hydrogen Energy Storage Market
• 10.5 French Material Based Hydrogen Energy Storage Market
• 10.6 Italian Material Based Hydrogen Energy Storage Market
• 10.7 Spanish Material Based Hydrogen Energy Storage Market
• 10.8 The United Kingdom Material Based Hydrogen Energy Storage Market

11. APAC Material Based Hydrogen Energy Storage Market

• 11.1 Overview
• 11.2 APAC Material Based Hydrogen Energy Storage Market by Deployment Type
• 11.3 APAC Material Based Hydrogen Energy Storage Market by Application
• 11.4 Chinese Material Based Hydrogen Energy Storage Market
• 11.5 Indian Material Based Hydrogen Energy Storage Market
• 11.6 Japanese Material Based Hydrogen Energy Storage Market
• 11.7 South Korean Material Based Hydrogen Energy Storage Market
• 11.8 Indonesian Material Based Hydrogen Energy Storage Market

12. ROW Material Based Hydrogen Energy Storage Market

• 12.1 Overview
• 12.2 ROW Material Based Hydrogen Energy Storage Market by Deployment Type
• 12.3 ROW Material Based Hydrogen Energy Storage Market by Application
• 12.4 Middle Eastern Material Based Hydrogen Energy Storage Market
• 12.5 South American Material Based Hydrogen Energy Storage Market
• 12.6 African Material Based Hydrogen Energy Storage Market

13. Competitor Analysis

• 13.1 Product Portfolio Analysis
• 13.2 Operational Integration
• 13.3 Porter's Five Forces Analysis
  • Competitive Rivalry
  • Bargaining Power of Buyers
  • Bargaining Power of Suppliers
  • Threat of Substitutes
  • Threat of New Entrants
• 13.4 Market Share Analysis

14. Opportunities & Strategic Analysis

• 14.1 Value Chain Analysis
• 14.2 Growth Opportunity Analysis
  • 14.2.1 Growth Opportunity by Deployment Type
  • 14.2.2 Growth Opportunity by Storage Material
  • 14.2.3 Growth Opportunity by Technology
  • 14.2.4 Growth Opportunity by Application
  • 14.2.5 Growth Opportunity by Region
• 14.3 Emerging Trends in the Global Material Based Hydrogen Energy Storage Market
• 14.4 Strategic Analysis
  • 14.4.1 New Product Development
  • 14.4.2 Certification and Licensing
  • 14.4.3 Mergers, Acquisitions, Agreements, Collaborations, and Joint Ventures

15. Company Profiles of the Leading Players Across the Value Chain

• 15.1 Competitive Analysis Overview
• 15.2 Hydrogenics Corporation
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.3 Air Products and Chemicals Inc.
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.4 Linde AG
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.5 Nel ASA
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.6 ITM Power PLC
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.7 Plug Power Inc.
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing
• 15.8 Ballard Power Systems Inc.
  • Company Overview
  • Material Based Hydrogen Energy Storage Market Business Overview
  • New Product Development
  • Merger, Acquisition, and Collaboration
  • Certification and Licensing

16. Appendix

• 16.1 List of Figures
• 16.2 List of Tables
• 16.3 Research Methodology
• 16.4 Disclaimer
• 16.5 Copyright
• 16.6 Abbreviations and Technical Units
• 16.7 About Us
• 16.8 Contact Us