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Report
North America Material-based Hydrogen Energy Storage Market By Storage Material (Metal Hydrides, Chemical Hydrides, Cryogenic Hydrogen Storage, Carbon-Based Materials), By Application (Transportation, Industrial, Energy Storage Systems, Portable Power), By Country, By Competition, Forecast and Opportunities 2020-2030F
Market Report I 2025-05-16 I 120 Pages I TechSci Research
Market Overview
The North America Material-based Hydrogen Energy Storage Market was valued at USD 121.52 million in 2024 and is projected to reach USD 229.59 million by 2030, growing at a CAGR of 11.19% during the forecast period. This market segment focuses on the storage of hydrogen using solid or chemical materials-such as metal hydrides, chemical hydrides, and liquid organic hydrogen carriers-which offer efficient hydrogen absorption and release. The increasing shift towards clean energy, combined with the need for reliable storage solutions for hydrogen generated from renewable sources, is propelling market growth. Material-based hydrogen storage systems offer advantages over gaseous and liquid storage, including higher energy density, enhanced safety, and easier transport and handling. As the United States, Canada, and Mexico implement national strategies to support hydrogen development, material-based storage technologies are emerging as critical infrastructure for enabling the hydrogen economy and decarbonization across transportation, industrial, and energy sectors.
Key Market Drivers
Government Policies and Initiatives Supporting Clean Energy Transition
Government support for hydrogen adoption is a primary driver of market growth. In the U.S., multi-billion-dollar investments in hydrogen infrastructure are being backed by policies such as the Hydrogen Energy Earthshot, which aims to reduce hydrogen costs and enhance storage and transport capabilities. Similarly, Canada's Hydrogen Strategy outlines the country's ambition to leverage clean hydrogen in decarbonizing energy systems and industrial processes. These national frameworks are fostering demand for advanced storage technologies that are safer, more compact, and better suited for widespread deployment. With governments providing tax credits, grants, and R&D incentives, the market for material-based hydrogen storage is poised for steady expansion, especially in commercial and utility-scale applications. In 2024 alone, U.S. hydrogen project funding reached USD 9.4 billion, underscoring the strategic focus on clean hydrogen solutions, including storage.
Key Market Challenges
High Capital and Operational Costs
High capital expenditure and operational costs represent significant barriers to the broader adoption of material-based hydrogen storage systems. Technologies such as metal hydrides and chemical carriers involve complex materials and energy-intensive processes for hydrogen absorption and release, making them costlier than conventional storage methods. The cost of raw materials and specialized infrastructure further limits market accessibility, particularly for small- and medium-scale adopters. Additionally, these systems often require continuous optimization and maintenance to ensure performance under varying environmental conditions. These cost-related hurdles pose challenges for scalability and commercial deployment, especially in cost-sensitive sectors like transportation and distributed power. For the market to achieve wider penetration, innovations that reduce cost and improve system efficiency will be essential.
Key Market Trends
Advancements in Material Science Driving Storage Efficiency
Technological progress in material science is reshaping the hydrogen storage landscape. Researchers are focusing on developing materials with higher hydrogen capacity, faster kinetics, and better thermal management. Breakthroughs in metal hydrides, porous carbon structures, and chemical carriers are enabling more compact and efficient storage systems with improved safety profiles. These innovations not only reduce the physical footprint of hydrogen storage but also align with the broader trend of integrating hydrogen with renewable energy sources. As energy systems become more decentralized and sustainability-focused, these next-generation materials support the deployment of hydrogen storage in off-grid, mobile, and high-performance environments. The convergence of material innovation and energy infrastructure modernization is expected to drive long-term market evolution across key sectors such as mobility, industry, and grid-scale power storage.
Key Market Players
- Air Liquide S.A.
- Air Products and Chemicals, Inc.
- Cummins Inc.
- ENGIE S.A.
- FuelCell Energy, Inc.
- Linde plc
- Nel ASA
- Hexagon Composites ASA
Report Scope:
In this report, the North America Material-based Hydrogen Energy Storage Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- North America Material-based Hydrogen Energy Storage Market, By Storage Material:
o Metal Hydrides
o Chemical Hydrides
o Cryogenic Hydrogen Storage
o Carbon-Based Materials
- North America Material-based Hydrogen Energy Storage Market, By Application:
o Transportation
o Industrial
o Energy Storage Systems
o Portable Power
- North America Material-based Hydrogen Energy Storage Market, By Country:
o United States
o Canada
o Mexico
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the North America Material-based Hydrogen Energy Storage Market.
Available Customizations:
North America Material-based Hydrogen Energy Storage Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Solution Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Formulation of the Scope
2.4. Assumptions and Limitations
2.5. Sources of Research
2.5.1. Secondary Research
2.5.2. Primary Research
2.6. Approach for the Market Study
2.6.1. The Bottom-Up Approach
2.6.2. The Top-Down Approach
2.7. Methodology Followed for Calculation of Market Size & Market Shares
2.8. Forecasting Methodology
2.8.1. Data Triangulation & Validation
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, and Trends
4. Voice of Customer
5. North America Material-based Hydrogen Energy Storage Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Storage Material (Metal Hydrides, Chemical Hydrides, Cryogenic Hydrogen Storage, Carbon-Based Materials)
5.2.2. By Application (Transportation, Industrial, Energy Storage Systems, Portable Power)
5.2.3. By Country (United States, Canada, Mexico)
5.2.4. By Company (2024)
5.3. Market Map
6. United States Material-based Hydrogen Energy Storage Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Storage Material
6.2.2. By Application
7. Canada Material-based Hydrogen Energy Storage Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Storage Material
7.2.2. By Application
8. Mexico Material-based Hydrogen Energy Storage Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Storage Material
8.2.2. By Application
9. Market Dynamics
9.1. Drivers
9.2. Challenges
10. Market Trends & Developments
10.1. Merger & Acquisition (If Any)
10.2. Product Launches (If Any)
10.3. Recent Developments
11. Company Profiles
11.1. Air Liquide S.A.
11.1.1. Business Overview
11.1.2. Key Revenue and Financials
11.1.3. Recent Developments
11.1.4. Key Personnel/Key Contact Person
11.1.5. Key Product/Services Offered
11.2. Air Products and Chemicals, Inc.
11.3. Cummins Inc.
11.4. ENGIE S.A.
11.5. FuelCell Energy, Inc.
11.6. Linde plc
11.7. Nel ASA
11.8. Hexagon Composites ASA
12. Strategic Recommendations
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