#Hydrogen Fuel Cells for Boat Market

[electronalytics]

Hydrogen Fuel Cells for Boat Market 

[smartgen]

SmartGen | SmartGen Attended the AMIM-CCEC Diesel Electric Summit 2024

A touch of blue stirs in the heart, as everyone harbors a dream of the sea: it is freedom, a faraway self-exile, the spirit of adventure and exploration of medieval seafarers, a fusion of passion and dreams.  In that fleeting moment before setting sail: be it aboard a cruise ship where sea and sky meet, or on a fishing boat with flickering lights.  There is both liberation and guardianship at sea: from the sailors on cargo ships sending messages of homesickness, to the engineers maintaining equipment on drilling platforms or in ship cabins. 

ince the start of the 21st century, advancements in shipbuilding and navigation technologies have driven cultural exchanges, technological innovations, and diversity. Each step forward in ship technology opens the door to a new era. As a leader in domestic intelligent control systems, SmartGen has made efforts to bring its top-quality marine control products to the overseas market. Recently, we proudly attended the AMIM-CCEC Diesel Electric Summit 2024. The event brought together top experts in global shipping and prominent figures from local marine associations, including representatives from Chongqing Cummins Engine Company (CCEC) and Bureau Veritas (BV). The discussions and exchanges on market prospects, major trends, and carbon reduction were proactive, in-depth and influential.

The summit emphasized that technological innovation continues to lead the shipping industry forward, with ship propulsion shifting from diesel to hybrid and fully electric systems, signaling the technological revolution on the horizon. How do we make a green and clean energy transition? Our marine product line ranges from the well-developed HMC9000A control system, HPM6 parallel controller to the hybrid system solutions. SmartGen has always been focused on delivering cleaner, more efficient energy control solutions.

SmartGen Hybrid Energy Control System HMU8N-EMS

HMU8N-EMS Hybrid Energy Control System is used for hybrid energy system consists of solar energy, wind energy, energy storage battery, hydrogen fuel cell, mains supply and diesel genset. It can read and display the data and status of various energies, control the power distribution, customize the control policy and support multiple control modes. The communication protocol is customized and the touch screen display LCD is configurable by PC, the operation policy or control logic can be written by using the built-in PLC. It is suitable for hybrid energy systems with flexible configuration and easy operation.

SmartGen Micro-Grid Controller HEMS200

HEMS200 Micro-Grid Controller is developed based on Linux operation system that can make the power system work in intelligent and high efficiency way and expand intelligent modules to realize more functions. The product can provide more powerful, user-friendly and convenient interface, support the management and real-time communication of PCS, rectifier, solar module, wind power module, inverter module, DC/DC module, diesel genset, lead-acid/lithium-ion battery, liquid cooling/air cooling, intelligent breaker, ATS, AC energy meter, DC energy meter, collect important data of all communication substations, then control the whole system to operate orderly and reliably through the data acquisition, processing, analysis and logical operation of internal program.

This summit gave us a wealth of insights and connections with experts in the field. We extend special thanks to our partners Cummins and AMIM Chairman Mr. Adren Siow for their high praise. SmartGen will keep pushing forward in marine power control, joining hands with partners to drive innovation in marine power and control technology, and building a clean, efficient, and sustainable energy system.

www.smartgen.cn

[credenceresearchdotblog]

The Marine Propulsion Engine Market is projected to grow from USD 37,949.5 million in 2023 to an estimated USD 44,926.31 million by 2032, with a compound annual growth rate (CAGR) of 2.13% from 2024 to 2032. The marine propulsion engine market plays a crucial role in the global maritime industry, which serves as the backbone of international trade, fishing, transportation, and defense operations. Marine propulsion engines are responsible for powering ships, submarines, and boats, enabling them to move across oceans and waterways. As the demand for energy-efficient, environmentally friendly, and technologically advanced vessels increases, the marine propulsion engine market is undergoing rapid changes and developments. This article explores the current state of the market, key trends, challenges, and future growth opportunities.

Browse the full report https://www.credenceresearch.com/report/marine-propulsion-engine-market

Market Overview

Marine propulsion engines convert energy from various sources into mechanical power to move vessels through water. They can be classified based on the type of fuel they use, including diesel, gas, electric, and hybrid systems. Traditionally, diesel engines have dominated the market due to their durability, high power output, and fuel efficiency. However, with rising environmental concerns and stricter regulations, there is a growing shift toward cleaner and greener propulsion technologies.

According to industry reports, the global marine propulsion engine market was valued at over $35 billion in 2021 and is expected to witness steady growth over the next decade. The increasing demand for marine transportation, driven by international trade, tourism, and naval activities, is one of the major factors propelling the market. Furthermore, advancements in technology, such as the development of autonomous ships, smart navigation systems, and electric propulsion, are creating new growth avenues for the industry.

Key Market Trends

1. Rise of Alternative Fuels and Hybrid Systems As environmental regulations tighten, particularly concerning emissions from maritime vessels, there is a growing emphasis on reducing the carbon footprint of ships. Several countries and international organizations, including the International Maritime Organization (IMO), have set ambitious targets for reducing greenhouse gas (GHG) emissions from shipping. This has led to increased investments in alternative fuels like liquefied natural gas (LNG), hydrogen, and biofuels.

Hybrid propulsion systems, which combine traditional diesel engines with electric motors, are gaining traction due to their fuel-saving potential and reduced emissions. These systems enable vessels to switch between power sources depending on operational requirements, improving fuel efficiency and cutting down on pollution.

2. Electric Propulsion and Renewable Energy Integration Electric propulsion systems, powered by batteries or fuel cells, are being developed as a cleaner alternative to traditional combustion engines. While these systems are still in the early stages of adoption, particularly for large commercial vessels, they are gaining popularity in the maritime sector, especially in short-sea shipping, ferries, and inland waterways. The integration of renewable energy sources, such as solar and wind power, is also being explored to reduce reliance on fossil fuels.

In particular, the concept of hybrid-electric ships, which utilize a combination of renewable energy and conventional propulsion systems, is becoming increasingly viable. Such vessels can operate with zero emissions when docked or during low-speed operations, offering significant environmental benefits.

3. Autonomous and Smart Ships Another notable trend in the marine propulsion engine market is the growing development of autonomous ships equipped with advanced navigation systems and artificial intelligence (AI). These smart ships are designed to optimize fuel consumption, improve route efficiency, and enhance overall safety. The integration of AI and automation technology into marine propulsion systems is expected to reduce human error, improve operational efficiency, and lower maintenance costs.

Companies and research institutions are working on prototypes of fully autonomous vessels that require minimal or no human intervention. As this technology matures, it could revolutionize the shipping industry and create new demand for propulsion systems compatible with these next-generation ships.

Challenges in the Market

Despite the promising trends, the marine propulsion engine market faces several challenges. One of the primary obstacles is the high cost of adopting new technologies, such as electric and hybrid systems. The initial investment for upgrading vessels with cleaner propulsion technologies can be prohibitive for smaller shipping companies, especially in developing regions.

Moreover, the infrastructure needed to support alternative fuels, such as LNG or hydrogen, is still underdeveloped in many parts of the world. This limits the widespread adoption of these greener propulsion solutions. Additionally, technological limitations, such as the current energy density of batteries, restrict the use of electric propulsion for large, long-distance vessels.

Future Growth Opportunities

The marine propulsion engine market is expected to witness significant growth in the coming years, driven by technological advancements, regulatory pressures, and the global push toward sustainability. Governments and industry stakeholders are increasingly investing in research and development to create innovative propulsion solutions that meet environmental standards without compromising performance.

Asia-Pacific is likely to remain a key region for market growth, with major shipbuilding nations like China, Japan, and South Korea driving demand. Europe and North America are also expected to contribute to market expansion, particularly with the adoption of green technologies in response to strict emission regulations.

Key players

Caterpillar

Daihatsu Diesel MFG Co. Ltd.

General Electric Company

Hyundai Heavy Industries Co. Ltd.

IHI Power Systems Co. Ltd.

Mitsubishi Heavy Industries Ltd.

Rolls-Royce Plc

Volkswagen Group (MAN Energy Solutions S.E.)

Volvo Penta

Wärtsilä

Yanmar Holdings Co. Ltd.

Segments

Based on Fuel Type

Diesel

Heavy Fuel Oil

Natural Gas

Other Fuels

Based on Application

Commercial

General Cargo Ships

Container Ships

Bulk Carriers

Tankers

Others

Defense

Destroyers

Frigates

Submarines

Corvettes

Aircraft Carriers

Offshore Patrol Vessels

Other Vessel Types

Passenger

Based on Power Range

0-1,000 HP

1,001-5,000 HP

5,001-10,000 HP

10,001-20,000 HP

Above 20,000 HP

Based on Regional

North America

U.S.

Canada

Europe

U.K.

Germany

Asia Pacific

China

India

Japan

Latin America

Brazil

Middle East and Africa

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[researchrealmblog]

Hydrogen Energy Storage Market Had a Considerable Share in the APAC

The hydrogen energy storage market generated USD 14,100 million in 2022, and it will reach USD 304,108 million by 2030, powering at a mammoth growth rate of 46.80% in the years to come.

Recently, India, the U.S, the U.K., and other nations are focusing on R&D events that would help in tech expansions in hydrogen and fuel cell technologies. This has guaranteed the development of suitable hydrogen storage for onboard light duty vehicles, portable power applications, and material-handling equipment that would support in achieving the targets set by governments.

The physical category will have a considerable revenue by 2030, registering a rate of above 50% from 2022 to 2030. This is because of the increasing requirement for physical hydrogen storage solutions from refineries because of the inferior crude oil and rigorous regulations of the government on emission control in developing countries.

Hydrogen is stored in gaseous or liquid form in tanks and could be later put to use for numerous end-uses for example production of ammonia and glass, metalworking, crude oil refining, and transportation.

The cylinder category had the largest share in the hydrogen energy storage market. Gaseous hydrogen is usually stored in cylinders at 150–200 bar pressure and under 298 K.

Also, the market will grow because of the growing requirement for hydrogen storage solutions from the food, metalworking, and electronics industries.

Furthermore, the onboard category will grow significantly in the years to come, because of the increasing acceptance of hydrogen-powered vehicles in developed nations and the increasing making of fuel cells for transportation applications for instance ships and boats, submarines, and buses.

APAC had the second largest revenue, and the demand for hydrogen storage solution will grow at high pace in the years to come, with China contributing significantly.

This has a lot to do with the growing usage of methanol made from hydrogen; the increasing requirement for ammonia in manufacturing facilities in India, China, and other South-Asian nations; strict regulations of the government in South Korea, China, and Japan for production of cleaner fuels, and the increasing consumption of diesel and gasoline in emerging nations.

Furthermore in 2022, the U.S. DOE announced over USD 50 million to increase the expansion of clean hydrogen technologies and decarbonize the grid.

With an introduction of an added USD 20 million university research consortium to supplementary help          the states and tribal community successfully achieve goals of decarbonization and implement grid resilience programs, the industry will grow significantly in the U.S.

Because of the increasing focus on alternative energy sources, the demand of hydrogen energy storage will continue to grow in the future.

Source: P&S Intelligence

[global-market-analysis]

Buoyant with Hydrogen: The Nautical Evolution of Clean Energy Boats

The Global Hydrogen Boat Market was valued at USD 595.39 million and is projected to reach a market size of USD 1.65 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 15.7%.

One significant long-term driver propelling the hydrogen boat market forward is the increasing global focus on environmental sustainability. Governments and industries worldwide are recognizing the urgent need to reduce carbon emissions, leading to a growing interest in cleaner energy alternatives. Hydrogen, being a clean and efficient fuel, aligns perfectly with this global sustainability agenda. Hydrogen-powered boats offer a promising solution to the maritime industry's quest for reducing its environmental footprint.

However, the journey has not been without its challenges, especially in the wake of the COVID-19 pandemic. The pandemic has disrupted global supply chains, causing delays in the production and delivery of hydrogen-powered boats. Additionally, the economic uncertainties triggered by the pandemic have led to fluctuations in investment patterns, impacting the market's growth trajectory. Despite these challenges, the industry is showing resilience, adapting to new norms, and leveraging technology to overcome obstacles.

In the short term, a key driver for the hydrogen boat market is the increasing regulatory support for green initiatives. Governments worldwide are implementing stringent environmental regulations, pushing the maritime industry to adopt eco-friendly technologies. Hydrogen-powered boats, with their low environmental impact, are becoming a favored choice among shipowners looking to comply with these regulations. This regulatory push is expected to create a surge in demand for hydrogen-powered boats in the near future.

An exciting opportunity lies in the expanding infrastructure for hydrogen production and distribution. Governments and private enterprises are investing heavily in developing hydrogen infrastructure, including production facilities and distribution networks. This infrastructure development creates a conducive environment for the growth of the hydrogen boat market. As the infrastructure matures, the cost of hydrogen production is expected to decrease, making hydrogen-powered boats more economically viable and attractive to a broader market.

A notable trend observed in the hydrogen boat market is the integration of advanced technologies to enhance efficiency and performance. Boat manufacturers are incorporating cutting-edge technologies, such as fuel cell systems and energy storage solutions, to optimize the overall performance of hydrogen-powered boats. This trend not only enhances the boats' environmental credentials but also improves their competitiveness in terms of speed, range, and reliability. The industry is moving towards a future where hydrogen-powered boats are not just environmentally friendly but also technologically advanced.

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Market Segmentation:

By Boat Type: Passenger Boats, Cargo Boats, Research Boats, and Others

In the realm of hydrogen-powered boats, various boat types contribute to the dynamic landscape of the market. These encompass Passenger Boats, Cargo Boats, Research Boats, and others. Among these, Passenger Boats emerge as the largest segment, catering to the increasing demand for eco-friendly transportation on water. Passengers seeking a cleaner and quieter boating experience are driving the growth of this segment. Interestingly, the fastest-growing segment during the forecast period is Cargo Boats. This surge is attributed to the global emphasis on sustainable shipping solutions, with businesses recognizing the efficiency and environmental benefits of hydrogen-powered cargo vessels.

By Power Source: Fuel Cells, Hydrogen Combustion Engines, and Hybrid Systems

The power source is a crucial determinant in the evolution of the hydrogen boat market, with three primary categories: Fuel Cells, Hydrogen Combustion Engines, and Hybrid Systems. Fuel Cells dominate this segment, emerging as the largest contributor to the market. The efficiency and minimal environmental impact of fuel cells make them the preferred choice for boat manufacturers and operators. On the flip side, the fastest-growing power source is Hybrid Systems. This innovative approach, combining the strengths of multiple power sources, is gaining traction as it offers enhanced flexibility, range, and efficiency. The market is witnessing a shift towards hybrid solutions, catering to the diverse needs of boat users.

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Regional Analysis:

When exploring the market by region, distinct patterns emerge across North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. Europe stands out as the largest market in this segment, demonstrating a strong commitment to environmental sustainability and technological innovation. The European market is buoyed by supportive regulations and a proactive approach towards adopting clean energy solutions. On the other hand, Asia-Pacific takes the lead as the fastest-growing region during the forecast period. The increasing awareness of environmental issues, coupled with rising investments in hydrogen infrastructure, propels the growth of the hydrogen boat market in this dynamic region. The diverse geographical landscape of Asia-Pacific offers ample opportunities for hydrogen-powered boats to make a significant impact.

Latest Industry Developments:

Strategic Collaborations and Partnerships: Companies in the global hydrogen boat market are increasingly entering strategic collaborations and partnerships to leverage complementary strengths and accelerate market penetration. Recent developments highlight collaborations between boat manufacturers and hydrogen technology providers, aiming to integrate cutting-edge solutions into existing product lines. These alliances not only facilitate knowledge exchange but also foster a collaborative ecosystem that expedites technological advancements and widens market reach.

Investment in Research and Development (R&D): A prominent trend among industry players is a significant focus on research and development activities to stay at the forefront of technological innovation. Companies are allocating substantial resources to enhance the efficiency and performance of hydrogen-powered boats. Recent R&D initiatives include advancements in fuel cell technology, integration of smart navigation systems, and the exploration of novel materials for boat construction. By investing in R&D, companies aim to differentiate their products, meet evolving customer demands, and solidify their positions in the competitive landscape.

Expansion of Global Distribution Networks: Companies are proactively expanding their global distribution networks to tap into emerging markets and capitalize on the growing demand for hydrogen-powered boats. Recent developments indicate a strategic emphasis on establishing partnerships with regional distributors and dealerships, facilitating easier market access. This trend not only enables companies to reach a broader customer base but also ensures efficient product delivery and after-sales support. By expanding their distribution networks, companies position themselves to cater to diverse market needs and gain a competitive edge in the rapidly evolving hydrogen boat market.

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[m-dawood-aslam]

Hydrogen Fuel : A sustainable Energy.

Hydrogen is one possible answer for our dependence on the fossil fuels that power our cars and buses even though vehicles that use Hydrogen to spin their wheels have been on the market for years. The technology is still struggling to gain traction that could change in the near future as the European Union and other countries have committed to expanding their use of Green Hydrogen. Yes I specifically said Green Hydrogen because there are a couple ways of producing it and not all of them move us toward the goal of cutting down on greenhouse gas emissions.

Today the most common Hydrogen is known as gray Hydrogen and it's created from fossil fuels like in a process called steam methane reforming by combining Ultra Hot Steam with the Methane in Natural Gas and a catalyst the water Vapor and Methane react and produce Hydrogen Gas Carbon Monoxide and some Carbon Dioxide a second step called the Water Gas. Shift reaction uses the Carbon Monoxide steam and another catalyst to extract more Hydrogen Gas giving off CO2 as a waste product worldwide about 95% of our Hydrogen is gray.

I think the problem here is pretty obvious sure you can use Hydrogen in a fuel cell powered car and only give off water as a local waste product but if the Hydrogen was made through steam Methane reforming. You're just shifting your Carbon emissions from your tailpipe to a plant. Somewhere there is a way to make the process more Eco-friendly by capturing the CO2 and storing it. Or using it for other industrial applications and Hydrogen made this way is called Blue Hydrogen. Still what we're after is the good stuff the gilt free stuff the green stuff.

Hydrogen is the most abundant element in the universe it's found in this thing called water. Which you may have heard of Hydrogen can be pulled out of water using electricity in a process called electrolysis. Using electricity from Wind or Solar power could vastly cut down on how much Carbon Dioxide the whole process creates Hydrogen made. This way is you guessed it green Hydrogen of course there's a catch green Hydrogen is much more expensive to produce than gray or blue Hydrogen. While a kilogram of green gas goes for about six dollars today the gray stuff is priced at just a buck 60 per kilogram still the European Union imagines natural gas as an important tool for getting to net zero carbon emissions by 2050.

By improving electrolyzing machines and reducing the cost of renewable energy Green Hydrogen could compete with its gray counterpart as soon as 2030. Then it could be applied in transportation particularly for large vehicles like buses trucks and ships where the drawbacks of current batteries make them less than ideal but Hydrogen has potential far beyond trucks or boats. The EU has drawn up a road map of the and then transport it for use or storage somewhere else solving a big problem of renewables. Finally Hydrogen could be used in industrial processes to generate heat or replace coal based blast furnaces in steel production. Right now steel production is responsible for as much as 9% of Global Carbon Emissions. It all sounds very tempting tempting enough that the EU proposed investing billions of dollars in green Hydrogen separately the UK is ramping up their own use of Hydrogen with buses and trains powered by the technology just entering service in a few trial cities with reimagined transportation and a converted grid using Hydrogen from clean sources Europe could be a model for the world to follow.

[nikhilghodse20051994]

New Research Report On Electric Ships Market | Covers Market Size, Share, Impact of COVID-19 | Forecast Till 2028

The Electric Ships Market is expected to grow from US$ 3.82 billion in 2021 to US$ 7.76 billion by 2028; it is estimated to grow at a CAGR of 10.3% from 2021 to 2028.

An electric boat is any boat or ship whose primary propulsion technology is an electric drive system. It can be a full-battery electric, hydrogen fuel cell electric, electric hybrid boat or ship, from tugboats, ferries, cargo ships, and barges to tour boats, fishing trawlers, cruising yachts, and unmanned underwater vehicles (UUVs). Electric ships are driven electrically, unlike conventional diesel engine ships. These ships use a battery storage device as their power source to drive electric motors. Numerous types of batteries can be used in an electric ship, including lithium-ion batteries, lead-acid batteries, and fuel cells. Electric ships are mainly ferries and small passenger ships on inland waterways that sail entirely with ..electricity. They travel only short distances with ~80 km in a single charge. Further, solar-powered ships are also used in lightweight ships that require low power output. However, the power requirements of cargo ships cannot be fulfilled by a fully electric system due to heavyweight; hence cargo ships are utilizing a hybrid diesel-electric system.

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Based on type, the electric ships market is segmented into battery electric ships, plug-in hybrid electric ships, and hybrid electric ships. Based on the power, the electric ships market is segmented into less than 75 kW, 75-150 kW, 151-745 kW, 746-7560 kW, and more than 7560 kW. Based on range, the electric ships market is categorized into less than 50 km, 50-100 km, 101-1000 km, and more than 1000 km. Based on ships type, the electric ships market is segmented into cruise ship, ferries, tankers, bulk carriers, fishing vessels, destroyers, aircraft carriers, and others. By geography, the electric ships market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

The COVID-19 pandemic adversely affected the electric ships market. The pandemic led to unparalleled global impacts on human mobility. In the ocean, ship-based activities are affected due to severe restrictions on human movements and changes in consumption of goods. A few countries have closed their cruise industry due to the COVID-19 pandemic. However, some cruise lines are trying to resume their activities during the pandemic. Human activities in the ocean have been radically changed by the COVID-19 pandemic, with reports of port restrictions and shifts in consumption patterns impacting multiple maritime sectors, fisheries, passenger ferries, and cruise ships.

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Impact of COVID-19 Pandemic on Electric Ships Market

 In 2020, the COVID-19 pandemic adversely affected the growth of the global electric ship market due to the shutdown of manufacturing facilities and trade restrictions. Ship manufacturers had faced short-term operational issues due to supply chain disruption caused by several government initiatives to slow the spread of COVID-19. The shipping industry had become a significant part of several countries’ supply chains; it was significantly affected by the COVID-19 pandemic. The shipping industry depends on production, which was discontinued to prevent people from being affected by SARS-CoV-2, resulting in significant challenges. According to United Nations Conference on Trade and Development (UNCTAD) (UNCTAD 2020), coastal and maritime tourism is the largest blue economy sector, and 50% of the tourists choose a coastal destination for their holidays. Flights and cruises have been canceled; entire crews and passengers have been under quarantine; country borders were closed; and in many tourist areas, hotels, restaurants, and resorts were forced to close for a few months. This led to a sharp economic decline in this sector. Therefore, the overall impact of the COVID-19 pandemic on the electric ships market was negative.

Company Profiles

BAE Systems

Duffy Electric Boat Company

Fjellstrand AS

X Shore

General Dynamic Electric Boat

Hurtigruten

MAN Energy Solutions

PortLiner

Siemens Energy

VARD AS

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[todaysmarket]

Hydrogen Storage Industry Study -Size, Share and Growth by Leading International Manufacturers with its Applications, Usage and Regions till 2026

The report "Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026".  The hydrogen storage market size was USD 415.8 Million in 2015 and is projected to reach USD 969.6 Million by 2026, registering a CAGR of 8.1% between 2016 and 2026.

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Browse 69 market data tables and 40 figures spread through 141 pages and in-depth TOC on “Hydrogen Storage Market”

Rising demand for transportation fuels, increase in oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels are some of the factors driving the growth of the hydrogen storage market.

Physical form is the largest segment of the hydrogen storage market.

Physical form is the largest storage form segment of the hydrogen storage market. Physical form of storage includes storing hydrogen in tanks, which are used in various end-use applications, such as ammonia production, crude oil refining, metal working, glass production, and transportation. The physical form segment is driven by the rise in hydrogen demand from refineries due to poor quality crude, stringent regulations on emission by developed countries, and rise in demand for transportation fuel.

On-board segment is expected to witness the highest growth

By type of storage, the on-board segment of the market is expected to witness the highest growth during the forecast period. This segment is driven by the rise in production of transportation fuel cells for applications, such as submarines, ships & boats, and buses among others. The development of hydrogen powered vehicles in Japan and South Korea has also contributed to this segment’s growth.

https://www.prnewswire.com/in/news-releases/hydrogen-storage-market-worth-9696-million-usd-by-2026-609743955.html

Asia-Pacific is the largest market for hydrogen storage

Asia-Pacific is the largest and the fastest-growing regional segment of the hydrogen storage market. This growth is mainly attributed to the strong demand for ammonia and methanol from the region’s developing countries, such as China, India, and Malaysia. China’s stringent regulations on oil refineries for producing cleaner fuels are expected to further boost the demand for hydrogen storage in this region.

The key players in the hydrogen storage market are Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), Luxfer Holdings Plc (U.K.), McPhy Energy S.A. (France), HBank Technologies Inc. (Taiwan), INOXCVA (India), VRV S.p.A. (Italy), and Hexagon Composites ASA (Norway).

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[etronixcenter]

Eight Volt Sealed Lead Batteries

It is essential to note that after the battery is fully charged for the primary time, that does not imply it's in its full capacity. By life cycle, we mean the charging, discharging and recharging of the lead acid battery. If you're utilizing a deep cycle battery, it will take a couple of life cycles to reach full capacity – around 20 to 50 cycles relying on the manufacturer. Lead and lead-containing compounds have been used for millennia, initially for plumbing and cookware , however now find utility across a variety of industries and applied sciences .

Lead batteries however are 100% recyclable, and the economics of this recycling course of are attractive. An old lead-acid battery is worth 30 p.c of the value of a model new battery, and within the United States, most of the lead in those batteries is from old recycled lead batteries. During the decision, he defined the issue isn’t overlooking lead batteries, it’s more that we aren’t wanting far enough over that horizon. There just isn't essential to guard the circuit, it can be nearly maintenance-free, however with the growth of the lithium battery, the path of the lead-acid battery is slim. Lead batteries provide 75% of worldwide rechargeable energy storage, said the roadmap. CBI wants to extend battery cycle life by 5 instances by 2022, attaining 5,000 cycles, creating lower working prices, “a key parameter for utility and renewable energy functions,” stated the roadmap.

Accumulated hydrogen and oxygen generally ignite in an inner explosion. The drive of the explosion could cause the battery's casing to burst, or cause its high to fly off, spraying acid and casing fragments. An explosion in one cell could ignite any combustible gas mixture within the remaining cells. Similarly, in a poorly ventilated space, connecting or disconnecting a closed circuit to the battery terminals can also trigger sparks and an explosion, if any fuel was vented from the cells.

A Fort Myers man has invented a new form of photo voltaic technology meant to get rid of the necessity for conventional batteries in boats, RVs, golf carts and probably coronary heart displays. "I assume all the cash that is coming into the market really implies that a company is going to experiment," Stanislaus said. "That's all fine and good, however until they're all converging no much less than within some frequent strategy that matches batteries being manufactured today, there's going to be a misalignment."

When a lead–acid battery loses water, its acid focus increases, rising the corrosion rate of the plates significantly. AGM cells have already got a excessive acid content in an try to lower the water loss fee and improve standby voltage, and this brings about shorter life compared to a lead-antimony flooded battery. Modern-day paste incorporates carbon black, blanc fixe and lignosulfonate. The blanc fixe acts as a seed crystal for the lead–to–lead sulfate response.

In addition, VRLA batteries together with Absorbent Glass Mat offer excessive resistance to vibration, minimize the terminal corrosion, prolong the shelf life, and provide a low self-discharge rate. High availability of various sizes is projected to additional fuel the demand over the forecast interval. Increasing vehicle manufacturing, particularly in China, Japan, India, Brazil, Mexico, South Korea, and the us is anticipated to advertise growth over the forecast interval. For instance, In October 2018, Amara Raja Batteries signed an settlement with Johnson Controls to launch a new battery technology in India which give refined consumer features and strict emission requirements for the automotive business. Such initiatives are anticipated to drive the demand for lead-acid batteries through the forecast interval. But upkeep packages aren’t the only consideration when choosing between batteries.

The most important hydrometallurgical process thus far is that by Aquametals, who developed a proprietary process utilizing an aqueous solution of methylsulfonic acid and EDTA. The inclusion of EDTA was demonstrated to allow a solubility of lead paste of seventy five g l−1, so growing manufacturing capacity per unit volume of solvent. Aquametals is now a successful growing company with a market capitalization of $247M as of July 2017. Their success demonstrates the industrial practicality of hydrometallurgical processes within the recycling of LABs . Lead acid batteries used in the RV and Marine Industries often include two 6-volt batteries in series, or a single 12-volt battery. These batteries are constructed of several single cells related in collection each cell produces roughly 2.1 volts.

In the case of a lead acid battery, there's additionally an extreme risk of explosion and fireplace. Forensic scientists and engineers, a few of whom actually do have a sense of humor, favor to use the term “rapid disassembly”. In fairness to the battery producers, there are tons of types of lead acid battery building that can minimize or even remove the danger of explosion during a short circuit. Still, in general, bad things occur when a battery is short-circuited. Premium AGM batteries, like ODYSSEY®Extreme SeriesTM and the ODYSSEY® Performance SeriesTMbatteries, use superior TPPL expertise to supply even more benefits to a variety of applications.

A typical 12-volt battery utilized in a RV or marine craft has a ranking a hundred twenty five AH, which means it can provide 10 amps of present for 12.5 hours or 20-amps of present for a interval of 6.25 hours. Lead acid batteries may be related in parallel to extend the whole AH capacity. The stringent requirements for batteries utilized in photovoltaic systems have prompted a quantity of manufacturers to make batteries particularly designed for PV or other remote energy techniques. The batteries most commonly utilized in stand-alone photovoltaic techniques are both deep-cycle lead acid varieties, or shallower cycle maintenance-free batteries.

[electronalytics]

Hydrogen Fuel Cells for Boat Market Analytical Overview and Growth Opportunities by 2032

The hydrogen fuel cells for the boat market is experiencing significant growth due to the increasing demand for clean and sustainable energy solutions in the marine industry.Hydrogen fuel cells offer a viable alternative to conventional fossil fuel-powered engines, as they produce zero-emission and have higher energy efficiency.

Government regulations and initiatives promoting the use of eco-friendly technologies in the maritime sector are driving the adoption of hydrogen fuel cells for boats.The market is witnessing the development of advanced hydrogen fuel cell technologies, including improved storage and refueling infrastructure, which is further boosting market growth.

The increasing focus on reducing carbon emissions and achieving environmental sustainability goals by boat manufacturers and operators is propelling the demand for hydrogen fuel cells.suppliers, are crucial for the widespread adoption and commercialization of hydrogen fuel cells for boats.

Analytical Overview:

The hydrogen fuel cells for boat market is projected to experience substantial growth in the coming years, driven by the increasing demand for clean energy solutions in the maritime industry.

Market players are focusing on research and development activities to enhance the performance and efficiency of hydrogen fuel cell technologies specifically tailored for marine applications.

Government regulations and initiatives promoting sustainable shipping practices are expected to create a favorable market environment for hydrogen fuel cells.

The market is witnessing the emergence of new players and strategic partnerships, leading to technological advancements and the expansion of product portfolios.

Geographically, North America and Europe are anticipated to be the key regions for hydrogen fuel cells in boats, owing to the presence of established boat manufacturers and supportive government policies promoting renewable energy adoption. However, the Asia Pacific region is also expected to witness significant growth due to the growing maritime industry and increasing environmental concerns.

Segments:

Power Output: The market can be segmented based on power output capacity, ranging from low-power fuel cells suitable for auxiliary power to high-power systems for primary propulsion.

Boat Type: Segmentation can be done based on boat types, such as leisure boats, commercial vessels, ferries, and yachts, as the adoption of hydrogen fuel cells varies across these segments.

End Use: Another segmentation criterion is the end-use application, including passenger transportation, cargo shipping, naval vessels, and recreational boating.

Geography: The market can be segmented based on geographic regions, such as North America, Europe, Asia Pacific, and Rest of the World, as the adoption and growth potential vary across different regions.

Component: Segmentation based on components includes fuel cell stacks, hydrogen storage tanks, power electronics, and balance of plant (BOP) systems, which are essential for the overall functioning of hydrogen fuel cells.

Growth Opportunities:

Increasing Investments: Growing investments in research and development activities for hydrogen fuel cell technologies for boats present significant growth opportunities in the market.

Infrastructure Development: Expansion of hydrogen refueling infrastructure and charging networks for boats would encourage the adoption of hydrogen fuel cells in the maritime sector.

Collaborations and Partnerships: Collaborations between boat manufacturers, fuel cell suppliers, and infrastructure providers can drive innovation and accelerate the market growth.

Government Support: Continued support from governments through subsidies, incentives, and policy frameworks promoting the adoption of hydrogen fuel cells in the marine industry can fuel market growth.

Technological Advancements: Advancements in hydrogen fuel cell technologies, such as enhanced power density, improved durability, and cost reduction, will open up new growth opportunities for market players.

Key Points:

Hydrogen fuel cells offer longer operational ranges and faster refueling times compared to battery-powered systems, making them suitable for extended boating trips and commercial applications.

The transition towards hydrogen fuel cells aligns with the global maritime industry's efforts to decarbonize and reduce greenhouse gas emissions.

The adoption of hydrogen fuel cells in the boat market can significantly contribute to achieving international sustainability goals and addressing climate change concerns.

Challenges such as the high initial cost of hydrogen fuel cell systems and limited hydrogen refueling infrastructure need to be addressed to accelerate market growth.

Collaborative efforts among stakeholders, including boat manufacturers, governments, and fuel cell

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Market Segmentations:

Global Hydrogen Fuel Cells for Boat Market: By Company • Dynad International • PowerCell Sweden • Serenergy • Toshiba • Fiskerstrand Verft • MEYER WERFT • Nuvera Fuel Cells • WATT Fuel Cell Global Hydrogen Fuel Cells for Boat Market: By Type • Polymer Electrolyte Membrane Fuel Cell (PEMFC) • Solid Oxide Fuel Cell (SOFC) Global Hydrogen Fuel Cells for Boat Market: By Application • Yatchs • Sailboats • Others Global Hydrogen Fuel Cells for Boat Market: Regional Analysis All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Hydrogen Fuel Cells for Boat market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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• To obtain insights into industry trends and dynamics, including market size, growth rates, and important factors and difficulties. This study offers insightful information on these topics.

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• To comprehend consumer behaviour: these research studies can offer insightful information about customer behaviour, including preferences, spending patterns, and demographics.

• To assess market opportunities: These research studies can aid companies in assessing market chances, such as prospective new goods or services, fresh markets, and new trends.

• To make well-informed business decisions: These research reports give companies data-driven insights that they may use to plan their strategy, develop new products, and devise marketing and advertising plans.

In general, market research studies offer companies and organisations useful data that can aid in making decisions and maintaining competitiveness in their industry. They can offer a strong basis for decision-making, strategy formulation, and company planning.

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[avini24513]

Electric Ships Market 2022 Global Market Growth by Manufacturers | Regions, Industry Growth, Size and Application, Forecast Analysis to 2027

The global electric ships market is set to gain impetus from the rising collaborative efforts between numerous prominent manufacturers. Seven Japanese companies, for instance, created a consortium called e5. It would help in commercializing and developing all-electric zero-emission vessels in the next two years. This information is given by Fortune Business Insights™ in a new report, titled, “Electric Ships Market Size, Share & COVID-19 Impact Analysis, By Power Source (Fully Electric, Hybrid), By Power Output (Less than 75 kW, 75-745 kW, 746-7560 kW, More than 7560 kW), By Vessel Type (Commercial Vessel, Defense Vessel), By Level of Autonomy (Semi-Autonomous, Fully Autonomous) and Regional Forecast, 2020-2027.” The report further mentions that the electric ships market size was USD 5.50 billion in 2019 and is projected to reach USD 10.82 billion by 2027, exhibiting a CAGR of 11.2% during the forecast period.

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List of the Leading Companies Profiled in the Global Electric Ships Market are:

Kongsberg

Leclanche

Corvus Energy

Echandia Marine AB

Siemens

Vard

Norwegian Electric Systems

General Dynamics Electric Boat

MAN Energy Solutions SE

Wartsila

Schottel Group

Anglo Belgian Corporation NV

Eco Marine Power

Akasol AG

How Did Our Analysts Develop This Report?

Our highly skilled analysts have conducted thorough secondary research to gather data on the market. Various sources, such as Global Firepower, United Nations Conference on Trade and Development (UNCTAD), SEC filings, International Maritime Organization (IMO), investor presentations, BusinessWeek, and certified publications were referred to for collecting and identifying information about the demand for electric ships in the market globally.

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Regional Analysis

Increasing Government Initiatives to Spur Growth in Europe

Geographically, in 2019, Europe generated USD 1.93 billion in terms of revenue. It is expected to remain at the forefront backed by the rising government initiatives to encourage the adoption of electric ships. Also, the increasing awareness programs about the harmful effects of maritime emissions, especially in Hamburg and Rotterdam would boost growth.

Asia Pacific, on the other hand, is expected to grow significantly because of the ongoing regulatory developments in China and Japan, such as the global Sulphur cap to enhance electrification in large-sized vessels. In North America, the rising usage of all-electric vessels, such as USS Zumwalt by the U.S. Navy is set to augment growth.

Competitive Landscape

Key Players Focus on Winning New Contracts from Renowned Firms to Compete in Market

The market for electric ships houses a large number of reputed companies that are focusing on bagging new orders and signing contracts with government bodies and other firms to either deliver their in-house products or co-develop novel electric ships.

Below are the two latest industry developments:

November 2020: Hyundai Motors partnered up with Vinssen, a start-up based in Korea to develop a new vessel powered by hydrogen fuel cells by December 2021. Vinssen will supply 95kW hydrogen fuel cells. If the eco-friendly ship reaches the expected level in terms of performance, it will be produced on a large scale.

September 2020: Holland Ship Electric selected Corvus Energy to deliver lithium-ion battery-based energy storage systems (ESS). They are meant for five new all-electric ferries developed by Holland Shipyards Group for GVB, the municipal public transport operator for Amsterdam.

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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[technogeekstmr]

Marine Alternate Propulsion Market Estimated To Experience A Hike In Growth By 2021

Need for marine alternate propulsion

The marine alternate propulsion system is a type of marine vessel engine that is propelled by energy sources other than gasoline and diesel. Conventional energy sources, such as gasoline, diesel, and coal, are finite and are expected to exhaust in the near future. On the other hand, nonconventional energy sources, such as solar, wind, and tidal energy, are available abundantly and can be utilized repeatedly.

All conventional energy sources are chemical compositions of various hydrocarbons and produce pollutant particulate, such as COX, NOX, on combustion, which is harmful for the environment. Therefore, efforts are being taken, globally, to reduce air pollution and improve air quality, which in turn drives the demand for systems or engines that utilize nonconventional energy sources, or engine technology that help reduce emissions. Consequently, this is driving the need for research and development of marine alternate propulsion systems.

Key drivers of global marine alternate propulsion market

Diesel marine propulsions systems are extensively used, as compared other type of marine propulsion systems. This system is primarily adopted in various marine vessels such as small boats, motor boats, and defense marine vessels. Diesel marine propulsion systems generate high levels of carbon emissions. Various government rules and regulations restrict the usage of these type of systems. For instance, MARPOL Annex VI, which has been a compulsory regulation since 2016. MARPOL Annex VI defines various engine and vessel requirements related to air pollution.

Nuclear marine propulsion systems are mostly adopted in defense marine vessels. These systems not only propel the ship but also generate electricity for it. The use of nuclear marine propulsion system is restricted to only naval ships owing to national security concerns of the country.

Nonconventional energy consuming marine propulsion systems, such as wind propulsion and solar propulsion systems, are significantly ecofriendly and cause less carbon emissions. For instance, solar propulsion systems are capable of generating electricity with higher capacitance up to 40 kilowatts (kW), which is utilized for propulsion and does not cause carbon emissions.

Hydrogen fuel cell marine propulsion system is a highly efficient marine propulsion system in terms of carbon emission. The fuel cell in this system converts chemical energy stored in the cell into electricity through a reaction with atmospheric oxygen. This type of cell does not require charging and can work continuously as long as it is supplied with compatible fuel such as LNG, methanol, or biogas.

Less carbon emitting technologies are preferred by air pollution regulatory authorities since they comply with rules and regulations. These factors are driving the market for marine alternate propulsion system.

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Diesel marine propulsion segment dominates marine alternate propulsion market

Diesel powered engines generate higher torque and consequently propel the ship at a rapid pace. They also enable ships to carry large cargos over longer distances. New technologies are being developed that would enable diesel marine propulsion systems to reduce carbon emissions. For instance, a turbocharger enables a diesel engine to generate equal amount of power that is generated by a larger engine. The use of turbocharger reduces the size and overall weight of the diesel engine. This is driving the adoption of turbochargers, thereby propelling the diesel marine propulsion segment of the market.

Solar powered marine vessels use clean energy source that does not emit any carbon emission, while solar energy is available abundantly. This is also attracting investors to invest in further research and development of solar propulsion systems. This, in turn, drives the segment.

Need for large capital investment hampers marine alternate propulsion market

Marine propulsion by nonconventional energy sources causes less carbon emissions; however, the cost of these technologies is considerably high. Furthermore, extensive research and development requires large capital investment.

The heavy machinery required for ship building and transportation costs of material required for shipbuilding are also higher. The larger the size of the ship, the more time required to build it. All these factors are hampering the marine alternate propulsion market.

Asia Pacific to dominate global marine alternate propulsion market

Asia Pacific region dominates the global market for marine alternate propulsion owing to expansion of shipbuilding industries and increase in foreign direct investments that propel research and development in countries, such as China and South Korea, in the region.

Sea voyage for transporting crude oil from countries in the Middle East to those across Asia Pacific and rest of the world, owing to cheaper transport cost and large cargo carrying capacities, drives the marine alternate propulsion market

Looking for Regional Analysis or Competitive Landscape in Marine Alternate Propulsion Market, ask for a customized report

Key players operating in global marine alternate propulsion market:

The global marine alternate propulsion market is highly concentrated with top manufacturers. A few key players operating in the global marine alternate propulsion market are:

Caterpillar

Fairbanks Morse

Cummins Inc.

Scania

YANMAR CO., LTD.

Nigata Power Systems Co., Ltd.

Rolls-Royce plc

MITSUBISHI HEAVY INDUSTRIES, LTD.

DAIHATSU DIESEL MFG. CO., LTD.

MAN Diesel & Turbo

Hyundai Heavy Industries Co., Ltd.

Global Marine Alternate Propulsion Market: Research ScopeGlobal Marine Alternate Propulsion Market, by Type of Marine Vessel

Commercial

Private

Navy

Global Marine Alternate Propulsion Market, by End-use Industry

Defense

Shipping and transport

Marine Tourism

Other

Global Marine Alternate Propulsion Market, by Technology

Diesel Propulsion

Gas Turbine Propulsion

Wind Propulsion

Electric Propulsion

Nuclear Propulsion

Fuel Cell Propulsion

Biodiesel Fuel Propulsion

Solar Propulsion

Water Jet Propulsion

Hybrid Propulsion

Global Marine Alternate Propulsion Market, by Manufacturer

OEMs

Aftermarket

Global Marine Alternate Propulsion Market, by Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

U.S.

Canada

Germany

France

U.K.

Italy

Spain

Russia & CIS

Rest of Europe

China

Japan

India

ASEAN

Rest of Asia Pacific

Brazil

Mexico

Rest of Latin America

GCC

South Africa

Rest of Middle East & Africa

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

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https://www.prnewswire.com/news-releases/uptake-in-wafer-manufacturing-to-push-revenues-of-dicing-tapes-market-to-touch-us-1-5-bn-by-2027-globally-leading-share-of-single-sided-tapes-key-to-growth-finds-transparency-market-research-301021397.html

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[stepphase]

"The car", the first hydrogen car developed by the French start-up Hopium

INNOVATION The company has raised seven million euros since its creation to make this model

A French company called Hopium offered this Thursday in Paris the first hydrogen car model in France, reports BFMTV. The prototype of this start-up was called “La Machina”. This is a sedan that will run only on this type of fuel.

With a power of 500 horsepower, the vehicle would be able to cover a distance of 1,000 km in complete autonomy. It will also be able to be recharged in just three minutes, the news channel said. This automobile construction project led by Olivier Lombard has succeeded in raising nearly 7 million euros since its creation.

8,000 sales per year by 2030?

The start-up, which has made its own fuel cell, has teamed up with Plastic Omnium to find a solution to successfully store hydrogen. But Hopium is also counting on the public authorities to invest in hydrogen stations, for lack of being able to create them itself.

So far, 1,000 vehicle pre-orders have been made. But the industrialization of the model will not start before 2025. Hopium hopes to be able to sell 8,000 “Machina” per year by 2030, for a price of 120,000 €.

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[latestglobalmarketresearch]

What are some of the technological advancements in the marine battery market?

The global marine battery market report provides an analysis of the market from 2020 to 2025. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, opportunities, and challenges. The marine battery market is projected to grow from USD 250 million in 2020 to USD 812 million by 2025, at a CAGR of 26.5% during the forecast period. The market in Europe is expected to witness substantial growth during the forecast period, especially in countries such as Norway, Finland, and Denmark, due to the increasing demand for electrification of ships in the region. The rise in the conversion of propulsion systems in passenger vessels is also a significant factor attributed to the anticipated growth of the marine battery market.

Based on battery type, the fuel cell segment is anticipated to grow at the highest CAGR during the forecast period. A fuel cell is an alternative technology of lithium-ion and lead-acid batteries that can eliminate NOX, SOX, and particle (PM) emissions. It can help in cutting down carbon emissions, especially in comparison to traditional diesel-driven propulsion systems. Alkaline fuel cell (AFC), phosphoric acid fuel cell (PAFC), solid oxide fuel cell (SOFC), and molten carbonate fuel cell (MCFC) are some of the types of fuel cells used in the shipping industry. These cells involve the usage of LNG, methanol, diesel, and hydrogen fuel for power.

Browse In-depth Insights: https://www.marketsandmarkets.com/Market-Reports/marine-battery-market-210222319.html

Based on battery design, the solid-state batteries segment is projected to register a higher CAGR than the flow batteries segment during the forecast period. Solid-state batteries have the advantage of doubling the energy storage and range of vessels, such as boats. Since solids are denser than liquids, solid-state batteries have a higher energy density, which means that more energy can be stored in the same amount of material. Thus, ship operators could replace their existing batteries with solid-state batteries to operate their ships for a higher range.

Based on battery function, the dual-purpose batteries segment is expected to witness the highest growth rate during the forecast period. Marine dual-purpose batteries combine the performance of starting batteries and deep-cycle batteries. They are majorly used by ships that have space for two or more batteries. These batteries are equipped with active lead paste chemistry, which helps them in tolerating deep discharges that the starting batteries could not normally tolerate.

Key Companies & Regional Outlook

Based on region, the marine battery market has been segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The market in Europe is anticipated to register the highest CAGR during the forecast period due to the presence of major marine battery manufacturers, such as Siemens, Akasol AG, Forsee Power, and EST-Floattech. The market growth in this region is also attributed to the implementation of the sulfur 2020 rule. Traditional diesel-fueled combustion engine ships are already retrofitted with hybrid or electric driven propulsion. The majority of these ships are fishing boats, supply vessels, research ships, yachts, and tugboats, and the first batch of 63 new ferries is already in production.

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[todaysmarket]

Hydrogen Storage Market Worth USD 969.6 Billion by 2026

The report "Hydrogen Storage Market by Storage Form (Physical, Material-Based), Type of Storage (Cylinder, Merchant, On-Site, & On-Board), Application (Chemicals, Oil Refining, Industrial, Transportation, Metal Working), and Region - Global Forecast to 2026".  The hydrogen storage market size was USD 415.8 Million in 2015 and is projected to reach USD 969.6 Million by 2026, registering a CAGR of 8.1% between 2016 and 2026.

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Browse 69 market data tables and 40 figures spread through 141 pages and in-depth TOC on “Hydrogen Storage Market”

Rising demand for transportation fuels, increase in oil consumption, decline of overall crude oil quality, and stringent environmental standards for production of cleaner fuels are some of the factors driving the growth of the hydrogen storage market.

Physical form is the largest segment of the hydrogen storage market.

Physical form is the largest storage form segment of the hydrogen storage market. Physical form of storage includes storing hydrogen in tanks, which are used in various end-use applications, such as ammonia production, crude oil refining, metal working, glass production, and transportation. The physical form segment is driven by the rise in hydrogen demand from refineries due to poor quality crude, stringent regulations on emission by developed countries, and rise in demand for transportation fuel.

On-board segment is expected to witness the highest growth

By type of storage, the on-board segment of the market is expected to witness the highest growth during the forecast period. This segment is driven by the rise in production of transportation fuel cells for applications, such as submarines, ships & boats, and buses among others. The development of hydrogen powered vehicles in Japan and South Korea has also contributed to this segment’s growth.

https://www.prnewswire.com/in/news-releases/hydrogen-storage-market-worth-9696-million-usd-by-2026-609743955.html

Asia-Pacific is the largest market for hydrogen storage

Asia-Pacific is the largest and the fastest-growing regional segment of the hydrogen storage market. This growth is mainly attributed to the strong demand for ammonia and methanol from the region’s developing countries, such as China, India, and Malaysia. China’s stringent regulations on oil refineries for producing cleaner fuels are expected to further boost the demand for hydrogen storage in this region.

The key players in the hydrogen storage market are Air Liquide (France), Linde AG (Germany), Praxair, Inc. (U.S.), Worthington Industries, Inc. (U.S.), Luxfer Holdings Plc (U.K.), McPhy Energy S.A. (France), HBank Technologies Inc. (Taiwan), INOXCVA (India), VRV S.p.A. (Italy), and Hexagon Composites ASA (Norway).

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