Recently, India, the U.S, the U.K., and other nations are focusing on RD 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.

Browse detailed - Hydrogen Energy Storage Market Revenue Estimation and Growth Forecast Report

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.