Hydrogen Energy Storage Market Is Anticipated To Expand In The Coming Years
“Increasing demand for renewable energy and Growing adoption of hydrogen fuel cells in stationary applications are likely to drive the market in the forecast period.” According to TechSci Research report, “ Hydrogen Energy Storage Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028 ”, the Global Hydrogen Energy Storage Market stood at USD 12.08 billion in 2022 and is anticipated to grow with a CAGR of 14.19% in the forecast period. A primary driver of the global hydrogen energy storage market is the increasing integration of renewable energy sources, such as wind and solar power, into the global energy mix. These renewable sources are inherently intermittent, generating electricity when the wind blows or the sun shines. However, energy demand does not always align with these natural patterns, resulting in periods of surplus and scarcity. Hydrogen energy storage addresses this challenge by serving as an effective means of storing excess renew...