The factors such as rising demand of environmentally friendly technologies for the automotive industry, custom designed to fulfil customer applications, increasing demand for electronic products and technological advancements and growth in the electronic industry are likely to contribute to the healthy growth of the market.
New York, July, 2021: Axiom Market Research & Consulting™ added a report on global Hydrogen Storage Alloys market which includes study on type, application across various countries of key regions across the globe. The global Hydrogen Storage Alloys market was projected to grow at a CAGR of 7.89% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the Hydrogen Storage Alloys market.
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The report analyses the global Hydrogen Storage Alloys industry based on type, application and geography. The major type of Hydrogen Storage Alloys are Titanium Hydrogen Storage, Zirconium Hydrogen Storage, Fe Hydrogen Storage, Rare Earth Hydrogen Storage, Mg Hydrogen Storage. Several applications of the industry are segmented into Hydrogen Recovery or Separation, Rechargeable Battery, Refrigeration and Heating Equipment. The global Hydrogen Storage Alloys market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include JMC (United States), Merck KGaA (Germany), Ajax Tocco Magnethermic Corporation (United States), Botou Santoku Battery Materials Co. Ltd (China), Santoku Corporation (China), American Elements (United States), AMG Titanium Alloys & Coatings LLC (United States), Jiangmen Kanhoo Industry Co. Ltd (China), Xiamen Tungsten Co. Ltd (China), CHOU DENKI KOGYO, Mitsui (Tokyo), H bank Technology (Taiwan), Magnethermic Corporation (United States) and Lab Tech (United States).
Hydrogen Storage Alloys Market Regional Trends
North America is expected to witness the fastest growth in upcoming years owing to hold significant share. The growing demand is due to increased investment in research and development of fuel cell technologies. Nevertheless, better scope of exploring the possibilities of this materials will lead the market growth in upcoming years. United States followed by Mexico and Canada is projected to be the fastest growing market due to increasing consumers of products in the region.
Hydrogen Storage Alloys Market Segmental Highlights
- The titanium hydrogen storage type segment is expected to dominate the Hydrogen Storage Alloys market during the forecast period. The rapid growth in the titanium hydrogen storage product market is the key driving factor that is accredited to the growth of the market
- In 2020, hydrogen recovery or separation accounted for the major market share. The hydrogen recovery or separation hold significant share in the hydrogen storage alloy market owing to widespread application and use across industries
- The growing demand for hydrogen recovery because the hydrogen storage alloys plays vital role in hydrogen purification hence demand for this alloys increases
- North America dominated Hydrogen Storage Alloys market in 2020 and is expected to witness the fastest growth in upcoming years
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Research Objectives of Hydrogen Storage Alloys Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis.
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the Hydrogen Storage Alloys Market.
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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Axiom Market Research & Consulting
3 Germany Dr.Ste 4 – 4666
Wilmington DE 19804
U.S.:- + 1 (845) 875-9786
U.K.:- + 44 (0) 20 3286 9707
Email: [email protected]