The global hydrogen energy–storage market is projected to reach $18.2 billion by 2024 from an estimated $13.7 billion in 2019, according to the new market research report Hydrogen Energy Storage Market by State (Liquid, Gas, Solid), Storage Technology (Compression, Liquefaction, Material based), End-User (Industrial, Commercial, Utilities), and Region - Global Forecast to 2024.
North America is expected to dominate the global hydrogen energy–storage market.
Increase in demand for hydrogen in the chemical industry and market for hydrogen in stationary and portable power are driving the growth of the global industry.
The gas segment is expected to lead the hydrogen energy–storage market, as there are multiple cost-effective methods available to store hydrogen as a gas via compression. The growth of the gas segment is because of the easy available plans to produce and store hydrogen in the gaseous form.
The compression segment is expected to c