North America Material-based Hydrogen Energy Storage Market is Expected to grow at a robust CAGR of 11.19% through 2030F
The
North America Material-based Hydrogen Energy Storage Market is expected to be
led by the United States, driven by technological advancements and strong
government support for clean energy initiatives, during the forecast period
2026-2030F.
According
to TechSci Research report, “North
America Material-based Hydrogen Energy Storage Market – By Country,
Competition, Forecast & Opportunities, 2020-2030F, The North America
Material-based Hydrogen Energy Storage Market was valued at USD 121.52 Million
in 2024 and is expected to reach USD 229.59 Million by 2030 with a CAGR of
11.19% during the forecast period.
The
global shift towards renewable energy sources, driven by environmental concerns
and the need for sustainable energy systems, is another significant driver for
the North America Material-based Hydrogen Energy Storage Market. As countries
across North America aim to reduce their dependence on fossil fuels and
minimize carbon emissions, there is an increasing demand for energy storage
technologies that can integrate with renewable power generation systems such as
wind and solar energy. Hydrogen energy storage, particularly through
material-based systems, offers a unique solution to the intermittency
challenges faced by renewable energy sources. By storing excess energy
generated during periods of high production (e.g., sunny or windy days),
hydrogen storage systems can release energy when renewable power generation is
low or demand peaks. This helps to stabilize grids, especially in regions with
high renewable energy penetration, and provides a backup energy solution to
ensure a constant and reliable power supply.
Hydrogen
fuel cells, which rely on stored hydrogen, offer a clean alternative for
sectors like transportation, where zero-emission solutions are increasingly in
demand. The adoption of hydrogen-powered vehicles, buses, and trucks in North
America is expected to grow rapidly as regulations around emissions tighten.
Consequently, the need for reliable and efficient hydrogen storage systems,
both for grid and transportation applications, is driving market growth.
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Based on Application , The
fastest-growing segment in the North America Material-based Hydrogen Energy
Storage Market is Energy Storage Systems. This segment is experiencing rapid
growth due to the increasing demand for sustainable and reliable energy storage
solutions in the face of fluctuating renewable energy sources like wind and
solar. As the energy transition continues, there is a growing need to store
excess energy generated from renewable sources and release it when demand is
high or renewable output is low. Hydrogen energy storage systems, particularly
those utilizing material-based technologies, offer significant advantages in
terms of energy density, scalability, and long-term storage, making them a
preferable option for large-scale energy storage projects.
Governments
and businesses are also focusing on decarbonizing their energy sectors,
supporting the growth of hydrogen technologies. The development of advanced
hydrogen storage materials, such as metal hydrides and chemical hydrides, which
can safely and efficiently store hydrogen at high densities, further boosts the
segment's growth prospects. In addition, the increasing number of utility-scale
hydrogen projects and the implementation of favorable regulatory frameworks in
North America are expected to drive continued investment in energy storage
systems. The growing alignment of the energy storage segment with
sustainability goals is likely to continue driving its rapid expansion in the
coming years.
Based
on country, Mexico is
rapidly emerging as the fastest-growing country in the North America
Material-based Hydrogen Energy Storage Market, driven by its focus on clean
energy transition and sustainable solutions. The government has prioritized the
development of green hydrogen as part of its broader energy strategy, supported
by favorable policies and increasing investments in renewable energy. Mexico’s
abundant renewable resources, particularly solar and wind, provide a solid
foundation for the large-scale production of hydrogen.
In
addition, the country is attracting international companies and partnerships
focused on hydrogen technology development, further accelerating market growth.
With ongoing investments in infrastructure and innovation, Mexico is
positioning itself as a leader in the hydrogen energy storage space, signaling
strong market expansion in the coming years.
Key
market players in the North America Material-based Hydrogen Energy Storage market
are: -
- Air
Liquide S.A.
- Air
Products and Chemicals, Inc.
- Cummins
Inc.
- ENGIE
S.A.
- FuelCell
Energy, Inc.
- Linde
plc
- Nel
ASA
- Hexagon
Composites ASA
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“The
North America Material-based Hydrogen Energy Storage Market is expected to
experience robust growth in the coming years. This growth will be driven by
advancements in hydrogen storage technologies, which offer more efficient and
sustainable solutions for energy storage. Increasing investments in renewable
energy sources, such as wind and solar, are expected to drive demand for
hydrogen storage systems to balance intermittent energy generation. Government
policies promoting clean energy and decarbonization initiatives will support
market expansion. As industries and infrastructure evolve to accommodate
sustainable energy solutions, the demand for material-based hydrogen energy
storage systems will continue to rise, fueling long-term market growth.” said
Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global
management consulting firm.
“North America Material-based Hydrogen Energy
Storage Market By Storage Material (Metal Hydrides, Chemical Hydrides,
Cryogenic Hydrogen Storage, Carbon-Based Materials), By Application
(Transportation, Industrial, Energy Storage Systems, Portable Power), By
Country, By Competition, Forecast and Opportunities, 2020-2030F,” has evaluated the future growth
potential of North America Material-based Hydrogen Energy Storage Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Material-based Hydrogen Energy
Storage Market.
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