The global market for Hydrogen Energy Storage was estimated to be worth US$ 2084 million in 2024 and is forecast to a readjusted size of US$ 5856 million by 2031 with a CAGR of 15.9% during the forecast period 2025-2031.
Hydrogen energy storage is a method of storing energy in the form of hydrogen gas, which can later be converted back into electricity or used as a clean fuel. The process typically begins with electrolysis, where renewable electricity (from solar, wind, or hydro) splits water into hydrogen and oxygen. The produced hydrogen can then be compressed, liquefied, or stored in solid carriers (like metal hydrides or chemical compounds) for later use. When needed, hydrogen can be used in fuel cells, burned in modified turbines, or applied directly in industrial processes, releasing energy without producing carbon dioxide.
This storage approach plays a critical role in addressing the intermittency of renewable energy by enabling long-term, large-scale storage that batteries alone cannot provide. Hydrogen energy storage supports grid balancing, seasonal energy storage, and sector coupling by supplying clean energy to transportation, industry, and heating. Challenges include high production costs, energy losses in conversion, infrastructure limitations, and safety considerations in storage and transport. However, with advances in electrolyzer efficiency, hydrogen carriers, and global hydrogen infrastructure, hydrogen energy storage is increasingly viewed as a cornerstone of the future low-carbon energy system.
High-pressure gaseous hydrogen storage has a long history in hydrogen energy storage and holds a significant market share. High-pressure gaseous hydrogen storage primarily utilizes high-pressure cylinders. With the recent rise of cryogenic liquid hydrogen storage technology, the proportion of high-pressure gaseous hydrogen storage has been declining. Cryogenic liquid hydrogen storage technology has been developed overseas for some time, achieving significant cost reductions at scale, with costs now only a factor of 10 or even 1/20 of similar domestic solutions. Cryogenic liquid hydrogen storage technology has also been rapidly developing in China in recent years, with the emergence of numerous related companies. Once the technology is implemented and costs are reduced, it will also see rapid growth in the future.
The other two technologies, solid-state hydrogen storage and transportation and liquid organic hydrogen storage and transportation, are currently in the demonstration phase and have yet to be deployed on a large scale. Research in solid-state materials for solid-state hydrogen storage and transportation encompasses a wide range of areas, including metal hydrides, nanomaterials, carbonaceous hydrogen storage materials, and coordination hydride hydrogen storage. Currently, metal hydride materials are the primary product, primarily used in fuel cell vehicles. Organic liquid hydrogen storage can be implemented using petroleum equipment and offers significant hydrogen storage capacity, suggesting significant potential for future development. Fuel cell vehicles and the construction of related supporting facilities are the main driving force for the development of the hydrogen storage industry. However, there is currently a bottleneck in the sales of fuel cell vehicles, and the construction of related supporting facilities is insufficient. These are all constraints on the development of the hydrogen storage industry. However, all countries have formulated future hydrogen energy development strategies, and the industry is expected to develop rapidly in the future.
This report aims to provide a comprehensive presentation of the global market for Hydrogen Energy Storage, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Hydrogen Energy Storage by region & country, by Type, and by Application.
The Hydrogen Energy Storage market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Hydrogen Energy Storage.
Market Segmentation
By Company
- Hexagon Purus
- Faurecia
- Iljin Hysolus
- Toyota
- Jiangsu Guofu Hydrogen Energy Equipment
- Faber Industrie
- Quantum Fuel Systems
- Luxfer Group
- Worthington Industries
- NPROXX
- Sinoma Science & Technology
- Chart Industries
- Gardner Cryogenics
- Plastic Omnium
- Iwatani
- Mahytec (HENSOLDT)
- The Japan Steel Works
- Kawasaki
- Whole Win (Beijing) Materials Sci. & Tech
- Hydrogenious LOHC Technologies
- Hynertech
Segment by Type
- Compressed Gas
- Cold Compressed Liquid Hydrogen
- Solid Compound Hydrogen Storage and Distribution
- Organic Liquid Hydrogen Storage and Distribution
Segment by Application
- New Energy Automobile
- Chemical
- Aerospace
- Others
By Region
- North America
- Asia-Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia-Pacific
- Europe
- Germany
- France
- U.K.
- Italy
- Netherlands
- Nordic Countries
- Rest of Europe
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Hydrogen Energy Storage company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Hydrogen Energy Storage in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Hydrogen Energy Storage in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Table of Contents
1 Market Overview
- 1.1 Hydrogen Energy Storage Product Introduction
- 1.2 Global Hydrogen Energy Storage Market Size Forecast (2020-2031)
- 1.3 Hydrogen Energy Storage Market Trends & Drivers
- 1.3.1 Hydrogen Energy Storage Industry Trends
- 1.3.2 Hydrogen Energy Storage Market Drivers & Opportunity
- 1.3.3 Hydrogen Energy Storage Market Challenges
- 1.3.4 Hydrogen Energy Storage Market Restraints
- 1.4 Assumptions and Limitations
- 1.5 Study Objectives
- 1.6 Years Considered
2 Competitive Analysis by Company
- 2.1 Global Hydrogen Energy Storage Players Revenue Ranking (2024)
- 2.2 Global Hydrogen Energy Storage Revenue by Company (2020-2025)
- 2.3 Key Companies Hydrogen Energy Storage Manufacturing Base Distribution and Headquarters
- 2.4 Key Companies Hydrogen Energy Storage Product Offered
- 2.5 Key Companies Time to Begin Mass Production of Hydrogen Energy Storage
- 2.6 Hydrogen Energy Storage Market Competitive Analysis
- 2.6.1 Hydrogen Energy Storage Market Concentration Rate (2020-2025)
- 2.6.2 Global 5 and 10 Largest Companies by Hydrogen Energy Storage Revenue in 2024
- 2.6.3 Global Top Companies by Company Type (Tier 1, Tier 2, and Tier 3) & (based on the Revenue in Hydrogen Energy Storage as of 2024)
- 2.7 Mergers & Acquisitions, Expansion
3 Segmentation by Type
- 3.1 Introduction by Type
- 3.1.1 Compressed Gas
- 3.1.2 Cold Compressed Liquid Hydrogen
- 3.1.3 Solid Compound Hydrogen Storage and Distribution
- 3.1.4 Organic Liquid Hydrogen Storage and Distribution
- 3.2 Global Hydrogen Energy Storage Sales Value by Type
- 3.2.1 Global Hydrogen Energy Storage Sales Value by Type (2020 VS 2024 VS 2031)
- 3.2.2 Global Hydrogen Energy Storage Sales Value, by Type (2020-2031)
- 3.2.3 Global Hydrogen Energy Storage Sales Value, by Type (%) (2020-2031)
4 Segmentation by Application
- 4.1 Introduction by Application
- 4.1.1 New Energy Automobile
- 4.1.2 Chemical
- 4.1.3 Aerospace
- 4.1.4 Others
- 4.2 Global Hydrogen Energy Storage Sales Value by Application
- 4.2.1 Global Hydrogen Energy Storage Sales Value by Application (2020 VS 2024 VS 2031)
- 4.2.2 Global Hydrogen Energy Storage Sales Value, by Application (2020-2031)
- 4.2.3 Global Hydrogen Energy Storage Sales Value, by Application (%) (2020-2031)
5 Segmentation by Region
- 5.1 Global Hydrogen Energy Storage Sales Value by Region
- 5.1.1 Global Hydrogen Energy Storage Sales Value by Region: 2020 VS 2024 VS 2031
- 5.1.2 Global Hydrogen Energy Storage Sales Value by Region (2020-2025)
- 5.1.3 Global Hydrogen Energy Storage Sales Value by Region (2026-2031)
- 5.1.4 Global Hydrogen Energy Storage Sales Value by Region (%), (2020-2031)
- 5.2 North America
- 5.2.1 North America Hydrogen Energy Storage Sales Value, 2020-2031
- 5.2.2 North America Hydrogen Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.3 Europe
- 5.3.1 Europe Hydrogen Energy Storage Sales Value, 2020-2031
- 5.3.2 Europe Hydrogen Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.4 Asia Pacific
- 5.4.1 Asia Pacific Hydrogen Energy Storage Sales Value, 2020-2031
- 5.4.2 Asia Pacific Hydrogen Energy Storage Sales Value by Region (%), 2024 VS 2031
- 5.5 South America
- 5.5.1 South America Hydrogen Energy Storage Sales Value, 2020-2031
- 5.5.2 South America Hydrogen Energy Storage Sales Value by Country (%), 2024 VS 2031
- 5.6 Middle East & Africa
- 5.6.1 Middle East & Africa Hydrogen Energy Storage Sales Value, 2020-2031
- 5.6.2 Middle East & Africa Hydrogen Energy Storage Sales Value by Country (%), 2024 VS 2031
6 Segmentation by Key Countries/Regions
- 6.1 Key Countries/Regions Hydrogen Energy Storage Sales Value Growth Trends, 2020 VS 2024 VS 2031
- 6.2 Key Countries/Regions Hydrogen Energy Storage Sales Value, 2020-2031
- 6.3 United States
- 6.3.1 United States Hydrogen Energy Storage Sales Value, 2020-2031
- 6.3.2 United States Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.3.3 United States Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.4 Europe
- 6.4.1 Europe Hydrogen Energy Storage Sales Value, 2020-2031
- 6.4.2 Europe Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.4.3 Europe Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.5 China
- 6.5.1 China Hydrogen Energy Storage Sales Value, 2020-2031
- 6.5.2 China Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.5.3 China Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.6 Japan
- 6.6.1 Japan Hydrogen Energy Storage Sales Value, 2020-2031
- 6.6.2 Japan Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.6.3 Japan Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.7 South Korea
- 6.7.1 South Korea Hydrogen Energy Storage Sales Value, 2020-2031
- 6.7.2 South Korea Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.7.3 South Korea Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.8 Southeast Asia
- 6.8.1 Southeast Asia Hydrogen Energy Storage Sales Value, 2020-2031
- 6.8.2 Southeast Asia Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.8.3 Southeast Asia Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
- 6.9 India
- 6.9.1 India Hydrogen Energy Storage Sales Value, 2020-2031
- 6.9.2 India Hydrogen Energy Storage Sales Value by Type (%), 2024 VS 2031
- 6.9.3 India Hydrogen Energy Storage Sales Value by Application, 2024 VS 2031
7 Company Profiles
- 7.1 Hexagon Purus
- 7.1.1 Hexagon Purus Profile
- 7.1.2 Hexagon Purus Main Business
- 7.1.3 Hexagon Purus Hydrogen Energy Storage Products, Services and Solutions
- 7.1.4 Hexagon Purus Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.1.5 Hexagon Purus Recent Developments
- 7.2 Faurecia
- 7.2.1 Faurecia Profile
- 7.2.2 Faurecia Main Business
- 7.2.3 Faurecia Hydrogen Energy Storage Products, Services and Solutions
- 7.2.4 Faurecia Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.2.5 Faurecia Recent Developments
- 7.3 Iljin Hysolus
- 7.3.1 Iljin Hysolus Profile
- 7.3.2 Iljin Hysolus Main Business
- 7.3.3 Iljin Hysolus Hydrogen Energy Storage Products, Services and Solutions
- 7.3.4 Iljin Hysolus Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.3.5 Iljin Hysolus Recent Developments
- 7.4 Toyota
- 7.4.1 Toyota Profile
- 7.4.2 Toyota Main Business
- 7.4.3 Toyota Hydrogen Energy Storage Products, Services and Solutions
- 7.4.4 Toyota Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.4.5 Toyota Recent Developments
- 7.5 Jiangsu Guofu Hydrogen Energy Equipment
- 7.5.1 Jiangsu Guofu Hydrogen Energy Equipment Profile
- 7.5.2 Jiangsu Guofu Hydrogen Energy Equipment Main Business
- 7.5.3 Jiangsu Guofu Hydrogen Energy Equipment Hydrogen Energy Storage Products, Services and Solutions
- 7.5.4 Jiangsu Guofu Hydrogen Energy Equipment Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.5.5 Jiangsu Guofu Hydrogen Energy Equipment Recent Developments
- 7.6 Faber Industrie
- 7.6.1 Faber Industrie Profile
- 7.6.2 Faber Industrie Main Business
- 7.6.3 Faber Industrie Hydrogen Energy Storage Products, Services and Solutions
- 7.6.4 Faber Industrie Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.6.5 Faber Industrie Recent Developments
- 7.7 Quantum Fuel Systems
- 7.7.1 Quantum Fuel Systems Profile
- 7.7.2 Quantum Fuel Systems Main Business
- 7.7.3 Quantum Fuel Systems Hydrogen Energy Storage Products, Services and Solutions
- 7.7.4 Quantum Fuel Systems Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.7.5 Quantum Fuel Systems Recent Developments
- 7.8 Luxfer Group
- 7.8.1 Luxfer Group Profile
- 7.8.2 Luxfer Group Main Business
- 7.8.3 Luxfer Group Hydrogen Energy Storage Products, Services and Solutions
- 7.8.4 Luxfer Group Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.8.5 Luxfer Group Recent Developments
- 7.9 Worthington Industries
- 7.9.1 Worthington Industries Profile
- 7.9.2 Worthington Industries Main Business
- 7.9.3 Worthington Industries Hydrogen Energy Storage Products, Services and Solutions
- 7.9.4 Worthington Industries Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.9.5 Worthington Industries Recent Developments
- 7.10 NPROXX
- 7.10.1 NPROXX Profile
- 7.10.2 NPROXX Main Business
- 7.10.3 NPROXX Hydrogen Energy Storage Products, Services and Solutions
- 7.10.4 NPROXX Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.10.5 NPROXX Recent Developments
- 7.11 Sinoma Science & Technology
- 7.11.1 Sinoma Science & Technology Profile
- 7.11.2 Sinoma Science & Technology Main Business
- 7.11.3 Sinoma Science & Technology Hydrogen Energy Storage Products, Services and Solutions
- 7.11.4 Sinoma Science & Technology Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.11.5 Sinoma Science & Technology Recent Developments
- 7.12 Chart Industries
- 7.12.1 Chart Industries Profile
- 7.12.2 Chart Industries Main Business
- 7.12.3 Chart Industries Hydrogen Energy Storage Products, Services and Solutions
- 7.12.4 Chart Industries Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.12.5 Chart Industries Recent Developments
- 7.13 Gardner Cryogenics
- 7.13.1 Gardner Cryogenics Profile
- 7.13.2 Gardner Cryogenics Main Business
- 7.13.3 Gardner Cryogenics Hydrogen Energy Storage Products, Services and Solutions
- 7.13.4 Gardner Cryogenics Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.13.5 Gardner Cryogenics Recent Developments
- 7.14 Plastic Omnium
- 7.14.1 Plastic Omnium Profile
- 7.14.2 Plastic Omnium Main Business
- 7.14.3 Plastic Omnium Hydrogen Energy Storage Products, Services and Solutions
- 7.14.4 Plastic Omnium Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.14.5 Plastic Omnium Recent Developments
- 7.15 Iwatani
- 7.15.1 Iwatani Profile
- 7.15.2 Iwatani Main Business
- 7.15.3 Iwatani Hydrogen Energy Storage Products, Services and Solutions
- 7.15.4 Iwatani Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.15.5 Iwatani Recent Developments
- 7.16 Mahytec (HENSOLDT)
- 7.16.1 Mahytec (HENSOLDT) Profile
- 7.16.2 Mahytec (HENSOLDT) Main Business
- 7.16.3 Mahytec (HENSOLDT) Hydrogen Energy Storage Products, Services and Solutions
- 7.16.4 Mahytec (HENSOLDT) Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.16.5 Mahytec (HENSOLDT) Recent Developments
- 7.17 The Japan Steel Works
- 7.17.1 The Japan Steel Works Profile
- 7.17.2 The Japan Steel Works Main Business
- 7.17.3 The Japan Steel Works Hydrogen Energy Storage Products, Services and Solutions
- 7.17.4 The Japan Steel Works Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.17.5 The Japan Steel Works Recent Developments
- 7.18 Kawasaki
- 7.18.1 Kawasaki Profile
- 7.18.2 Kawasaki Main Business
- 7.18.3 Kawasaki Hydrogen Energy Storage Products, Services and Solutions
- 7.18.4 Kawasaki Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.18.5 Kawasaki Recent Developments
- 7.19 Whole Win (Beijing) Materials Sci. & Tech
- 7.19.1 Whole Win (Beijing) Materials Sci. & Tech Profile
- 7.19.2 Whole Win (Beijing) Materials Sci. & Tech Main Business
- 7.19.3 Whole Win (Beijing) Materials Sci. & Tech Hydrogen Energy Storage Products, Services and Solutions
- 7.19.4 Whole Win (Beijing) Materials Sci. & Tech Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.19.5 Whole Win (Beijing) Materials Sci. & Tech Recent Developments
- 7.20 Hydrogenious LOHC Technologies
- 7.20.1 Hydrogenious LOHC Technologies Profile
- 7.20.2 Hydrogenious LOHC Technologies Main Business
- 7.20.3 Hydrogenious LOHC Technologies Hydrogen Energy Storage Products, Services and Solutions
- 7.20.4 Hydrogenious LOHC Technologies Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.20.5 Hydrogenious LOHC Technologies Recent Developments
- 7.21 Hynertech
- 7.21.1 Hynertech Profile
- 7.21.2 Hynertech Main Business
- 7.21.3 Hynertech Hydrogen Energy Storage Products, Services and Solutions
- 7.21.4 Hynertech Hydrogen Energy Storage Revenue (US$ Million) & (2020-2025)
- 7.21.5 Hynertech Recent Developments
8 Industry Chain Analysis
- 8.1 Hydrogen Energy Storage Industrial Chain
- 8.2 Hydrogen Energy Storage Upstream Analysis
- 8.2.1 Key Raw Materials
- 8.2.2 Raw Materials Key Suppliers
- 8.2.3 Manufacturing Cost Structure
- 8.3 Midstream Analysis
- 8.4 Downstream Analysis (Customers Analysis)
- 8.5 Sales Model and Sales Channels
- 8.5.1 Hydrogen Energy Storage Sales Model
- 8.5.2 Sales Channel
- 8.5.3 Hydrogen Energy Storage Distributors
9 Research Findings and Conclusion
10 Appendix
- 10.1 Research Methodology
- 10.1.1 Methodology/Research Approach
- 10.1.1.1 Research Programs/Design
- 10.1.1.2 Market Size Estimation
- 10.1.1.3 Market Breakdown and Data Triangulation
- 10.1.2 Data Source
- 10.1.2.1 Secondary Sources
- 10.1.2.2 Primary Sources
- 10.2 Author Details
- 10.3 Disclaimer