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Hydrogen Energy Storage Market (CAGR of 5.7%): Future Prospects, Size and Competitive Analysis 2019 – 2027
January 6, 2021 | by admin |
The global Hydrogen Energy Storage market is worth US$ 12.96 Bn in 2018 and expected to grow at a CAGR of 5.7% during the forecast period from 2019 to 2027.
Market Insights
“Rising investment in green energy technology is driving”
Growing applications of hydrogen and advancement in technology to store and utilize hydrogen potential are driving the global hydrogen energy storage market. Increasing the adoption of hydrogen energy as fuel estimated to reduce carbon emission, increasing the reliability of supply, and reduce consumption of conventional fossil fuels. New technologies such as direct injection of hydrogen into the natural gas pipeline referred to as power-to-gas and pre-conversion of hydrogen to methane to avoid various blending issues have a large impact on the application of hydrogen as a fuel; thereby incr