Energy security and the energy transition are the key drivers of investments in the hydrogen industry. Hydrogen is considered a key pillar of decarbonization because it is one of the few routes available for decarbonization of some sectors like oil and gas, mining, iron and steel, and heavy transport. Its energy density and phase changeability facilitates its role as a versatile fuel and energy carrier capable of power generation and energy storage in the power and energy industry.
While there is tremendous policy support in key regions of the world, with almost every major country having a hydrogen strategy of its own, there are some hurdles for the sector, that must be overcome for faster growth. This study gives a broad overview of the status and outlook of the global hydrogen storage sector based on growth drivers and challenges, as well as investment commitments made by stakeholders in the industry.
Key Issues Addressed?:
- What is hydrogen’s value proposition as an energy carrier, and how is hydrogen stored?
- What are the advantages and disadvantages of various hydrogen storage technologies?
- What is the installed capacity of hydrogen storage assets, and what is the total storage capacity addition potential by region and storage type during the forecast period (2023-2030)?
- What are the major decisions involved in the choice of energy storage technologies and type of hydrogen storage?
- What degree of policy support is available for value chain participants in various regions across the globe?
- Who are the key players in the hydrogen storage value chain?
- What are the growth opportunities available for new entrants and existing players?