Hydrogen energy storage solutions are projected to experience extensive acceptance in the future, owing to reasons, including growing concentration on substitute energy sources, rising expenditure in fuel cell and hydrogen technologies, solid government support, and a hike in the electricity demand.

In the past few years, the U.K., India, the U.S., and several other countries have been increasingly concentrating on research and development activities that would support technological advancement in hydrogen and fuel cell technologies.

This has guaranteed the enlargement of acceptable hydrogen storage for aboard light-duty vehicles, portable power applications, and material-handling equipment that would aid in meeting the goals set by governments.

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In 2022, North America had a considerable market share, and the U.S. was the largest buyer in the continent. The requirement for these solutions is increasing, because of the surging need for hydrogen-powered vehicles motivated by the readiness of hydrogen-filling infrastructure and strict government guidelines in the U.S. on the usage of less-emission-producing cars.

Hence, growing concentration on substitute energy sources, rising expenditure in fuel cell and hydrogen technologies, and several rules by the government to support hydrogen energy storage, such factors will contribute to the market growth.