U.S. Hydrogen Energy Storage Market Size & Outlook
U.S. hydrogen energy storage market, 2018-2030 (US$M)
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U.S. hydrogen energy storage market highlights
- The U.S. hydrogen energy storage market generated a revenue of USD 3,170.1 million in 2023 and is expected to reach USD 4,511.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.2% from 2024 to 2030.
- In terms of segment, industrial was the largest revenue generating application in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
Hydrogen energy storage market data book summary
| Market revenue in 2023 | USD 3,170.1 million |
| Market revenue in 2030 | USD 4,511.8 million |
| Growth rate | 5.2% (CAGR from 2023 to 2030) |
| Largest segment | Industrial |
| Fastest growing segment | Residential |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
| Key market players worldwide | Lincoln Electric Holdings Inc, Air Products & Chemicals Inc, Cummins Inc, Engie SA, ITM Power PLC, Iwatani Corp, Linde PLC, NEL ASA, Steelhead Composites |
Other key industry trends
- In terms of revenue, U.S. accounted for 19.8% of the global hydrogen energy storage market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. hydrogen energy storage market is projected to lead the regional market in terms of revenue in 2030.
- Canada is the fastest growing regional market in North America and is projected to reach USD 1,099.2 million by 2030.
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Hydrogen Energy Storage Market Scope
Hydrogen Energy Storage Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. hydrogen energy storage market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hydrogen energy storage market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 40.55% in 2023. Horizon Databook has segmented the U.S. hydrogen energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is among the early adopters of clean energy solutions in the world for its power generation, manufacturing, and transportation sectors. The DOE and Department of Transportation (DOT) introduced a ‘Hydrogen Posture Plan’ in December 2006.
The plan was aimed at enhancing R&D and validating technologies that can be employed for setting up hydrogen infrastructure. Moreover, this plan provided deliverables that were set by the Federal government to support the development of hydrogen infrastructure in the country.
In 2014, the U.S. Department of Energy launched a project to leverage the potential support received by H2USA from the National Laboratories. The H2USA project is a joint initiative of Sandia National Laboratories and the National Renewable Energy Laboratory (NREL) with the objective to tackle any technical difficulties related to hydrogen producing infrastructure.
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Target buyers of U.S. hydrogen energy storage market databook
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Our clientele includes a mix of hydrogen energy storage market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the U.S. hydrogen energy storage market , including forecasts for subscribers. This country databook contains high-level insights into U.S. hydrogen energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. hydrogen energy storage market size, by application, 2018-2030 (US$M)
U.S. Hydrogen Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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