Which countries are deploying the most onboard hydrogen storage?

By 2030, over 35-GWh LHV of onboard hydrogen storage could be deployed annually. China and other Asian countries are projected to deploy the most onboard hydrogen storage, with Europe close behind. Fuel cell buses and passenger light-duty FCEVs are projected to have the greatest demands for onboard hydrogen storage.

Will clean hydrogen become a major global market?

Goldman Sachs believes clean hydrogen can develop into a major global market, resulting in a 15% cut in GHG emissions impacting energy supply, and accounting for up to 30% of global hydrogen volumes crossing borders.

Which countries are responsible for hydrogen energy storage?

Major countries such as Russia, Spain, Germany, Italy, UK, and smaller Eastern and Central European countries make up the European hydrogen energy storage industry. Enormous demand for hydrogen generation from a variety of end users, including industrial and commercial institutions, is to blame.

What is the global market for hydrogen generation?

Fortune Business Insights™ states the market for hydrogen generation will reach USD 220.37 billion by 2028. Hydrogen (H2) has become a household name in oil refining, steel production, methanol production, and ammonia production.

Can hydrogen be used as energy storage?

Source: U.S. Department of Energy, “H2@Scale Bubble Chart,” DOE, Washington, D.C., 2020. As an energy storage technology, hydrogen has additional flexibility. Hydrogen can be produced from electricity or other primary energy sources such as natural gas and then used as a fuel or converted back to electricity.

Is hydrogen energy storage a viable alternative to fossil fuels?

Hydrogen storage is not limited by region and can transfer limited renewable generation into other energy-intensive sectors. High capital cost of the liquid — Currently, hydrogen energy storage is more costly than fossil fuel. The majority of these hydrogen storage technologies are in the early development stages.