Hydrogen Storage Market: Trends, Insights, and Forecast 2018-2025
The global hydrogen storage market size is expected to reach USD 6.47 billion by 2025, according to a new report by Grand View Research, Inc. Favorable government regulations from U.S. DoE for producing alternative energy as fuel is expected to drive the market over the forecast period. Growing population and disposable income is projected to propel the market growth over the coming years. Rising concern for the production cost of hydrogen is projected to be a major challenge for demand. Increasing need for energy supply in power & energy sectors is anticipated to drive the growth for hydrogen storage systems. Rising focus to generate energy from renewable sources is expected to augment the market positively. The shift in trend towards producing alternative renewable energy from fuel cells, oxygen, and hydrogen is projected to propel the hydrogen storage market. Increasing demand for power consumption on account of rapid urbanization and industrialization is antic...