Global Metal Hydride Storage Material Market Growth 2024-2030

Global Metal Hydride Storage Material Market Growth 2024-2030

Metal hydride storage is a method of storing hydrogen by chemically binding hydrogen molecules to metal alloys to form metal hydrides. In this process, hydrogen gas (H2) is absorbed into the lattice structure of the metal, resulting in a solid-state compound known as a metal hydride. Metal hydride storage offers several advantages, including high hydrogen storage densities, improved safety, and reversible hydrogen absorption/desorption. Metal Hydride Storage Material represent a class of compounds that can absorb and release hydrogen gas through reversible chemical reactions. These materials offer a promising solution for hydrogen storage, which is a critical component in the advancement of hydrogen as a clean energy carrier. The unique properties of metal hydrides, including their high hydrogen storage density and the ability to store hydrogen at relatively low pressures, make them suitable for various applications, from portable power sources to large-scale energy storage systems. Metal hydrides are composed of metals or alloys that can form chemical bonds with hydrogen. The storage and release of hydrogen occur through reversible hydriding and dehydriding reactions. When hydrogen gas is introduced to the metal or alloy, it dissociates into hydrogen atoms, which are then absorbed by the metal lattice, forming a metal hydride. The process releases heat (exothermic reaction). Conversely, when heat is applied, the metal hydride decomposes, releasing hydrogen gas (endothermic reaction).

The global Metal Hydride Storage Material market size is projected to grow from US$ 32.6 million in 2024 to US$ 522 million in 2030; it is expected to grow at a CAGR of 58.8% from 2024 to 2030.

LP Information, Inc. (LPI) ' newest research report, the “Metal Hydride Storage Material Industry Forecast” looks at past sales and reviews total world Metal Hydride Storage Material sales in 2023, providing a comprehensive analysis by region and market sector of projected Metal Hydride Storage Material sales for 2024 through 2030. With Metal Hydride Storage Material sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Metal Hydride Storage Material industry.

This Insight Report provides a comprehensive analysis of the global Metal Hydride Storage Material landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Metal Hydride Storage Material portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Metal Hydride Storage Material market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Metal Hydride Storage Material and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Metal Hydride Storage Material.

Global key players of Metal Hydride Storage Material include MG Power, Grimat, XTC New Energy Materials, etc. The top three players hold a share over 50%. China is the largest market, and has a share about 64%, followed by North America with share 14%. In terms of product type, Magnesium-based Metal Hydrides is the largest segment, occupied for a share of 33%. In terms of application, Stationary Hydrogen Storage has a share about 50 percent.

This report presents a comprehensive overview, market shares, and growth opportunities of Metal Hydride Storage Material market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Magnesium-based Metal Hydrides
Others

Segmentation by Application:
Stationary Hydrogen Storage
Mobile Hydrogen Storage

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
MG Power
XTC New Energy Materials
Grimat
China Northern Rare Earth
Biocoke Lab
Shanghai H2store Energy Technology
LAVO System
Sigma Aldrich
IFAM

Key Questions Addressed in this Report

What is the 10-year outlook for the global Metal Hydride Storage Material market?

What factors are driving Metal Hydride Storage Material market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Metal Hydride Storage Material market opportunities vary by end market size?

How does Metal Hydride Storage Material break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.