The U.S. hydrogen energy storage market size was estimated at USD 3.17 billion in 2023 and is anticipated to expand at a CAGR of 5.3% from 2024 to 2030. This growth is primarily driven by the country's accelerating industrialization and the increasing adoption of alternative energy sources. Significant advancements in research and development, along with the construction of large-scale hydrogen storage infrastructure, are expected to propel market growth throughout the forecast period.

Hydrogen energy storage involves storing large volumes of hydrogen using technologies such as solution-mined salt domes, excavated rock caverns, and other geological formations. This stored hydrogen supports various end-use sectors, including transportation, metallurgy, general industry, chemicals, and stationary power applications. With the global expansion of renewable energy, the demand for hydrogen energy systems is also rising, as these solutions help mitigate greenhouse gas emissions. Hydrogen is also vital in oil refining and utility operations.

The industrial sector continues to be a major consumer of hydrogen for applications such as glass production, fertilizer manufacturing, and metal refining. The increasing shift by companies towards sustainable fuel alternatives, such as hydrogen, further contributes to the rising demand. In particular, hybrid melting technologies paired with electric furnace boosting are being adopted to reduce harmful emissions, reinforcing the market’s upward trajectory.

The U.S. remains a leader in renewable energy adoption across industrial, transportation, and power generation sectors. To support hydrogen infrastructure development, the U.S. Department of Energy initiated projects like H2USA, in collaboration with the National Renewable Energy Laboratory (NREL) and Sandia National Laboratories. Furthermore, the Hydrogen Fueling Infrastructure Research and Station Technology (H2FIRST) project, supported by the Fuel Cell Technologies Office, aims to overcome technical challenges and facilitate the development of cost-effective hydrogen fueling stations across the nation. These initiatives are expected to significantly boost the hydrogen energy storage market in the coming years.

Order a free sample PDF of the U.S. Hydrogen Energy Storage Market Intelligence Study, published by Grand View Research.

Key Market Trends & Insights

• By Application: The industrial segment led the market with the largest revenue share of 40.56% in 2023.
• By Physical State: The solid state segment dominated, accounting for 51.43% of the market in 2023.
• By Technology: The material-based segment held the largest share at 40.15% in 2023.

Market Size & Forecast

• 2023 Market Size: USD 3.17 Billion
• 2030 Projected Market Size: USD 4.53 Billion
• CAGR (2024–2030): 5.3%

Key U.S. Hydrogen Energy Storage Company Insights

The U.S. hydrogen energy storage market is fragmented, featuring a diverse mix of companies at varying stages of innovation and commercialization. Despite ongoing consolidation, major corporations and research institutes continue to push the boundaries of hydrogen storage technology. This dynamic environment reflects the industry's transition from early-stage R&D to scalable commercial solutions.

Prominent market participants include:

• Cummins Inc. – Offers diesel and natural gas generators, along with emission control and power generation systems.

• Steelhead Composites, INC. – Specializes in lightweight, high-strength cylinders for hydrogen storage and other energy solutions.

• Air Products Inc., Chart Industries, Plug Power, Inc., Worthington Industries, FuelCell Energy Inc., and Bloom Energy Corp. are also key contributors to this evolving market.

• Bloom Energy Corp. stands out for its deployment of solid oxide fuel cells that generate electricity using green hydrogen without combustion, delivering reliable and clean power.

Explore Horizon Databook – The world's most expansive market intelligence platform developed by Grand View Research.

Conclusion

The U.S. hydrogen energy storage market is poised for steady growth through 2030, driven by increasing industrial demand, supportive government initiatives, and continuous technological advancements. As industries continue transitioning towards low-emission and sustainable operations, hydrogen is emerging as a vital enabler of clean energy solutions. The growing collaboration between public agencies and private companies is expected to accelerate infrastructure development, making hydrogen a key component of the country’s renewable energy strategy.