Hydrogen Storage Market Future Growth and Trends
Meticulous Research ® —a leading global market research company, published a research report titled, ‘ Hydrogen Storage Market by Storage Solution (Tanks, Cylinders), Storage Type (Physical Storage, Material-based Storage), Application (Fuel Cell, Chemical Production, Manufacturing, Oil & Gas), and Geography—Global Forecast to 2031.’ According to this latest publication from Meticulous Research ® , the hydrogen storage market is projected to reach $38.3 billion by 2031 , at a CAGR of 8.3% during the forecast period. The growth of this market is driven by the increasing use of hydrogen storage tanks for transportation and the growing adoption of hydrogen storage facilities as an energy source for power generation. However, the high capital costs of hydrogen storage facilities restrain the growth of this market. Furthermore, the rising government support for hydrogen production and the increasing demand for hydrogen-based fuel cells for veh...