From GlobeNewswire: 2025-05-14 14:04:00

The “Global Hydrogen Energy Storage Market” is projected to reach $23.7 billion by 2029 with a CAGR of 72.1% from 2024 to 2029. The report analyzes HES technology by storage tech and end use in key regions like the U.S., China, and Europe, focusing on green hydrogen’s role in the evolving energy landscape.

The market’s growth is driven by electrolyzers for grid stability, renewable energy variability, clean transportation, and hydrogen infrastructure development. As renewable energy generation increases, so does the need for HES to store surplus energy, making it a crucial component in the energy transition.

Green hydrogen technology is essential for decarbonizing the economy and is projected to account for 12% of global energy consumption by 2050. The global electrolyzer capacity for green hydrogen production is expected to reach 550 GW by 2030. The U.S., China, and Europe dominate the global HES market, comprising over 80% of market share.

Emerging startups like H2Go Power, Hydrogenious LOHC Technologies, and Hydrexia are focusing on innovative hydrogen generation and storage solutions to meet the growing demand for clean energy. These companies offer advanced technologies for fuel cells and solid-state hydrogen storage.

The global HES market is expected to see significant growth, with the liquefaction segment dominating the market. Asia-Pacific holds the largest market share, driven by factors like increasing electrolyzer use, renewable energy demand, clean transportation adoption, and hydrogen infrastructure development.



Read more at GlobeNewswire: Global Hydrogen Energy Storage Market Anticipates 72% CAGR