Hydrogen Energy Storage Market Revenue to Hit USD 196.8 Billion by 2028, Growing at a CAGR of 76.8% – Report by MarketsandMarkets™

Rising adoption of fuel cell vehicles, renewable energy integration, and government incentives are driving exponential growth in the global hydrogen energy storage market.

Delray Beach, FL, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Hydrogen Energy Storage Market size is projected to grow from USD 11.4 billion in 2023 to USD 196.8 billion by 2028, at a CAGR of 76.8% according to a new report by MarketsandMarkets™. The growing emphasis on environmental sustainability, rising adoption of fuel cell vehicles, intermittent renewable energy integration accelerates the growth of the hydrogen energy storage market.

This growth wave is powered by the global clean energy transition, rapid adoption of fuel cell vehicles (FCEVs), and the integration of renewable sources like solar and wind into mainstream energy systems. As countries race to meet net-zero targets, hydrogen energy storage is emerging as a game-changing solution to address energy intermittency, grid stability, and decarbonization challenges.

Browse 243 market data Tables and 49 Figures spread through 226 Pages and in-depth TOC on "Hydrogen Energy Storage Market by Form (Gas, Liquid, Solid), Technology (Compression, Liquefaction, Material Based), Application (Stationary Power, Transportation), End User (Electric Utilities, Industrial, Commercial) Region - Global Forecast to 2028"

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Market Scope and Key Insights

Market Size Available for Years: 2016–2028
2023 Market Size: USD 11.4 billion
2028 Projected Market Size: USD 196.8 billion
CAGR (2025–2030): 76.8%
Segments covered: by Storage Form, Technology, Application, End-User, and Region.
Region Highlight: Asia Pacific, North America, Europe, South America, and Middle East & Africa.

Why Hydrogen Energy Storage Matters Now

Governments and corporations across the globe are investing heavily in hydrogen ecosystems — incentivizing zero-emission technologies, hydrogen hubs, and long-duration storage. Unlike batteries, hydrogen storage can hold energy for days or weeks, making it indispensable for renewable balancing and off-grid resilience.

When combined with renewables like solar and wind, hydrogen storage ensures a steady, clean power supply, unlocking the next phase of global energy independence.

Top Growth Segments Driving the Market

1. Electric Utilities Lead in Adoption

The Electric Utilities segment is expected to hold the largest market share during the forecast period.
Why? Hydrogen storage enables grid stability, backup power, and renewable integration. As utilities face increasing load fluctuations from renewable sources, hydrogen systems offer a reliable way to store excess power and release it during peak demand.

2. Gas Storage Form Dominates

Among storage types — Gas, Liquid, and Solid — the Gas form leads due to high efficiency, easy transportability, and an established infrastructure. Gaseous hydrogen minimizes energy loss and supports large-scale distribution for industrial and transport applications.

3. Compression Technology on the Rise

The Compression segment is projected to grow fastest owing to its low energy loss and high density per unit volume. With cost-effective performance and compatibility with existing hydrogen pipelines, it’s the most preferred method among industrial users and utility-scale projects.

4. Stationary Power Takes Center Stage

Hydrogen’s use in stationary power applications — especially for data centers, industrial facilities, and grid backup — is set to outpace transportation. Its ability to provide continuous, emission-free power is driving large-scale commercial adoption.

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Based on the technology, the hydrogen energy storage market is segmented into compression, liquefaction and material-based. The compression segment is expected to be the fastest growing market during the forecast period owing to the low energy losses compared to other methods and high energy density per unit volume. Compression technology is cost effective as compared to other storage technologies, which is expected to drive the growth of the medium voltage segment in the forecasted period.

This report segments the hydrogen energy storage market based on application into stationary power and transportation. During the forecast period, the stationary power segment holds the largest market share due to its higher efficiency, safety, and ability to provide a steady energy supply for grid integration and industrial processes. The Stationary systems are well-suited for critical facilities, sustainability goals, and avoiding transportation challenges.

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Asia Pacific: The Hydrogen Powerhouse

Asia Pacific is expected to be the second largest region in the hydrogen energy storage market between 2023–2028, followed by North America. The Asia Pacific region is emerging as a key player in the development and deployment of hydrogen energy storage systems. Several factors contribute to this growing interest in hydrogen-based energy solutions. First, Asia Pacific countries are facing increasing energy demand, rapid urbanization, and a pressing need to reduce greenhouse gas emissions. Hydrogen energy storage offers a promising avenue to address these challenges, particularly in sectors such as transportation, where fuel cell electric vehicles (FCEVs) are gaining traction. Additionally, the region's abundant renewable energy resources, including solar and wind power, create opportunities for green hydrogen production through electrolysis. Countries like Japan and South Korea have already made substantial investments in hydrogen infrastructure and are driving innovation in the field. Collaborative efforts, government incentives, and international partnerships are further propelling the growth of the hydrogen energy storage system market in the Asia Pacific, positioning it as a pivotal player in the global transition towards a sustainable energy landscape.

Key Players Transforming the Hydrogen Landscape

Company profiles give a glimpse of the key players in the Hydrogen Energy Storage Companies with respect to business overview, financials, product offerings, and recent developments. In this new edition of the hydrogen energy storage manufacturers such as Linde plc (Ireland), Plug Power Inc. (US), ENGIE (France), Iwatani Corporation (Japan), and FuelCell Energy, Inc. (US) among others, have been profiled as they have emerged as key players in recent months due to various investments & expansions, partnerships & collaboration and merger & acquisitions in the Hydrogen Energy Storage Market.

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