Product Code: GVR-4-68040-028-6
Underground Hydrogen Storage Market Summary
The global underground hydrogen storage market demand was estimated at 2780.67 MCM in 2024 and is projected to reach 6,249.05 MCM by 2033, growing at a CAGR of 9.2% from 2025 to 2033. The market is expected to grow steadily during the forecast period, driven by supportive government policies, increasing net-zero targets, and heightened focus on hydrogen as a clean energy carrier for industry, transport, and power generation sectors.
Growing investments in green hydrogen infrastructure and rising adoption of renewable energy sources are accelerating the demand for safe and scalable hydrogen storage technologies. Underground hydrogen storage involves storing hydrogen gas in large geological formations such as salt caverns, depleted oil and gas fields, or aquifers, enabling the buffering of supply and demand in large-scale hydrogen energy systems. This method stabilizes hydrogen supply chains by offering long-duration energy storage solutions essential for decarbonized energy grids. Advancements in subsurface engineering and the repurposing of existing gas storage facilities further enhance underground hydrogen storage's commercial viability.
Underground hydrogen storage is primarily used to balance supply and demand in hydrogen energy systems and support large-scale hydrogen deployment. While smaller above-ground storage solutions exist, they are not economically viable for handling seasonal fluctuations or industrial-scale volumes. Therefore, geological formations like salt caverns, depleted oil and gas fields, and aquifers are increasingly utilized due to their high capacity and long-duration storage capabilities. Projects integrating underground hydrogen storage with green hydrogen production and fuel cell deployment, particularly in Europe, the United States, and Asia-Pacific countries like Japan and Australia, are gaining momentum. Supportive regulatory frameworks, national hydrogen strategies, and investment in hydrogen hubs are key factors driving the development of underground hydrogen storage infrastructure.
Global Underground Hydrogen Storage Market Report Segmentation
This report forecasts volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global underground hydrogen storage market report based on storage type, and region:
- Storage Type Outlook (Volume, MCM, 2021 - 2033)
- Porous Media Storage
- Salt Caverns
- Engineered Cavities
- Regional Outlook (Volume, MCM, 2021 - 2033)
- North America
- Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- Latin America
- Middle East & Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Value Chain Analysis
- 3.4. Regulatory Framework
- 3.4.1. Standards & Compliance
- 3.4.2. Regulatory Impact Analysis
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunities
- 3.5.4. Market Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. Underground Hydrogen Storage Market: Type Estimates & Trend Analysis
- 4.1. Underground Hydrogen Storage Market: Type Movement Analysis, 2024 & 2033
- 4.2. Porous Media Storage
- 4.2.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 4.3. Salt Caverns
- 4.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 4.4. Engineered Cavities
Chapter 5. Underground Hydrogen Storage Market: Regional Estimates & Trend Analysis
- 5.1. Regional Analysis, 2024 & 2033
- 5.2. North America
- 5.2.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.2.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.2.3. U.S.
- 5.2.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.2.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.2.4. Canada
- 5.2.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.2.4.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.2.5. Mexico
- 5.2.5.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.2.5.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.3. Europe
- 5.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.3.3. Germany
- 5.3.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.3.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.3.4. UK
- 5.3.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.3.4.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.3.5. France
- 5.3.5.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.3.5.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.4. Asia Pacific
- 5.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.4.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.4.3. China
- 5.4.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.4.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.4.4. India
- 5.4.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.4.4.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.4.5. Japan
- 5.4.5.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.4.5.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.4.6. Australia
- 5.4.6.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.4.6.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.5. Latin America
- 5.5.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.5.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.5.3. Brazil
- 5.5.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.5.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.5.4. Mexico
- 5.5.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6. Middle East & Africa
- 5.6.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.6.3. Algeria
- 5.6.3.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6.3.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.6.4. Egypt
- 5.6.4.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6.4.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.6.5. Libya
- 5.6.5.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6.5.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
- 5.6.6. UAE
- 5.6.6.1. Market estimates and forecasts, 2021 - 2033 (MCM)
- 5.6.6.2. Market estimates and forecasts, by type, 2021 - 2033 (MCM)
Chapter 6. Competitive Landscape
- 6.1. Recent Developments By Key Market Participants
- 6.2. Company Categorization
- 6.3. List of Key Component Suppliers & Channel Partners
- 6.4. Company Market Share & Positioning Analysis, 2024
- 6.5. Heat Map Analysis
- 6.6. Vendor Landscape
- 6.6.1. List of Raw Material Suppliers
- 6.6.2. List of Distributors/Traders
- 6.6.3. List of Other Prominent Manufacturers
- 6.7. List of Prospective End Users
- 6.8. Strategy Mapping
- 6.9. Company Profiles/Listing
- 6.9.1. Air Liquide
- 6.9.1.1. Company Overview
- 6.9.1.2. Financial Performance
- 6.9.1.3. Product Benchmarking
- 6.9.2. Air Products and Chemicals, Inc.
- 6.9.2.1. Company Overview
- 6.9.2.2. Financial Performance
- 6.9.2.3. Product Benchmarking
- 6.9.3. Engie
- 6.9.3.1. Company Overview
- 6.9.3.2. Financial Performance
- 6.9.3.3. Product Benchmarking
- 6.9.4. Linde plc
- 6.9.4.1. Company Overview
- 6.9.4.2. Financial Performance
- 6.9.4.3. Product Benchmarking
- 6.9.5. Texas Brine Company, LLC
- 6.9.5.1. Company Overview
- 6.9.5.2. Financial Performance
- 6.9.5.3. Product Benchmarking
- 6.9.6. Uniper SE
- 6.9.6.1. Company Overview
- 6.9.6.2. Financial Performance
- 6.9.6.3. Product Benchmarking
- 6.9.7. WSP
- 6.9.7.1. Company Overview
- 6.9.7.2. Financial Performance
- 6.9.7.3. Product Benchmarking