Asia Pacific Electrolysis Liquid Hydrogen Market - By Distribution (Pipelines, Cryogenic Tanks), By End use (Transportation, Chemicals and Others), 2024 – 2032

Asia Pacific Electrolysis Liquid Hydrogen Market Size

Asia Pacific Electrolysis Liquid Hydrogen Market size was valued USD 1.06 billion in 2023 and is anticipated to grow at a CAGR of 6.4% up to 2032. It refers to the process of using electricity to separate water (H?O) into its basic components, hydrogen (H?) and oxygen (O?), with the hydrogen being stored as a liquid. This process is significant for producing high-purity hydrogen and supports the development of sustainable energy solutions.
 

Rising ambitious carbon neutrality goals to reduce greenhouse gas emissions are propelling process adoption, as it utilizes renewable electricity, resulting in zero emissions during hydrogen production. Increasing boom in renewable energy projects, particularly in solar, wind, and hydroelectric power is fostering process demand that can work efficiently in conjunction with these renewable energy sources by using surplus electricity generated during peak production periods to produce clean fuel.
 

Rising pressure on industries to reduce their carbon footprint coupled with rapidly expanding hydrogen infrastructure in various Asian countries, with governments investing heavily in hydrogen storage, distribution, and refueling stations will complement the business outlook. Increasing dependence of Aisa Pacific on imported fossil fuels makes it vulnerable to price fluctuations and supply disruptions, fostering electrolysis-based hydrogen production, particularly when powered by domestic renewable energy sources, enhances energy security by reducing reliance on imported fuels.
 

Asia Pacific Electrolysis Liquid Hydrogen Market Trends

Rising companies investments in scaling up electrolysis technologies to make them more cost-competitive coupled with the regional push toward hydrogen as a clean fuel in the transportation sector, particularly for heavy-duty vehicles, buses, and trains will drive the industry growth. Furthermore, countries such as Australia and New Zealand are positioning themselves as major exporters of green hydrogen to meet the growing global demand, especially from energy-hungry nation leading to complement business landscape.
 

Asia Pacific Electrolysis Liquid Hydrogen Market Analysis

Based on end use, the market is segmented into transportation, chemicals and others. Transportation is projected to grow by more than USD 895 Million by 2032. Increasing shift towards decarbonizing heavy-duty transportation sectors such as trucking, shipping, aviation, and rail responsible for carbon emission is stimulating process adoption as a clean alternative fuel with high energy density. Rapidly growing fleet of hydrogen-powered vehicles is boosting expansion of hydrogen refueling networks, particularly along major transport routes leading to support electrolysis-based hydrogen demand, allowing these stations to operate sustainably, without reliance on fossil fuel-derived clean fuel, aligning with net-zero emission goals.
 

Based on distribution, the Asia Pacific electrolysis liquid hydrogen market is segmented into pipeline and cryogenic tank. Pipeline is set to grow at a CAGR of over 7% by 2032 owing to their cost efficiency over long distances. Rising repurpose of existing natural gas pipeline infrastructure for hydrogen transport to reduce the need for entirely new infrastructure development, accelerating the mode adoption. Increasing demand for high volume clean energy by industries such as petrochemicals, steel, and refining is uplifting pipelines penetration as an ideal solution for continuous, large-scale supply. Furthermore, this mode provides a stable, consistent flow of hydrogen, minimizing the risks of supply disruptions, which is essential for energy-intensive sectors relying on clean fuel as a feedstock or energy carrier thereby augmenting business landscape.
 

China electrolysis liquid hydrogen market is anticipated to grow by more than USD 1,030 Million by 2032. China's commitment to achieving carbon neutrality by 2060 is a major driving force for hydrogen adoption. This commitment is evident in China’s "Hydrogen Energy Industry Development Plan which prioritizes hydrogen as a core part of the future energy mix thereby fostering process adoption that aligns perfectly with the country’s environmental goals. Country rising investment in building out its hydrogen infrastructure, including liquid hydrogen plants, storage facilities, and distribution networks creates opportunities for business growth. Furthermore, growing adoption of hydrogen fuel cell vehicles (HFCVs), particularly in public transportation and logistics, is a significant factor driving the demand for liquid hydrogen produced via electrolysis.
 

In the U.S. rising ambitious targets for decarbonization and a clean energy transition are major catalysts for hydrogen adoption. Presence of leading energy companies and automakers in the U.S., such as Tesla, Nikola, and major oil companies, boost investment in clean fuel technologies. Increasing private sector interest in electrolysis as a means of producing liquid hydrogen driven by both environmental goals and market demand for clean energy solutions is fostering business expansion.
 

Asia Pacific Electrolysis Liquid Hydrogen Market Share

Eminent players are forming strategic alliances to pool resources, share expertise, and expand their market reach. Key players are investing in innovative electrolyzer technology to improve efficiency and reduce the cost of liquid hydrogen production. Furthermore, companies are targeting high-demand sectors such as steel manufacturing, chemicals, and transportation to drive adoption of liquid hydrogen produced through electrolysis.
 

Asia Pacific Electrolysis Liquid Hydrogen Market Companies

Eminent players operating in the Asia Pacific Electrolysis Liquid Hydrogen industry are:

• Air Products and Chemicals, Inc.
• Air Liquide
• Cummins Inc
• ENGIE
• Enapter
• GreenH Electrolysis
• Linde Plc
• MAN Energy Solutions
• NEL Hydrogen
• Plug Power Inc
• Siemens Energy
• Shell plc
• Thyssenkrupp
   

Asia Pacific Electrolysis Liquid Hydrogen Industry News:

• In February 2024, Korea's Ministry of Trade, Industry, and Energy (MOTIE) is advancing regulatory reforms to boost the hydrogen sector. New measures will enable Korean firms to invest in electrolysis and liquid hydrogen. A public-private consultative group will oversee regulatory improvements to foster industry growth.
   
• In July 2023, GreenH Electrolysis, a collaboration between H2B2 Electrolysis Technologies and India's GR Group, unveiled plans for its inaugural 1 GW PEM electrolyzer manufacturing plant in India. Situated in the Reliance MET Industrial Park in Haryana, this 97,000 sq. ft. facility is currently under construction, with operations slated to commence by October 2023.
   

Asia Pacific electrolysis liquid hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million & MT” from 2019 to 2032, for the following segments:

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Market, By Distribution, 2021 – 2032 (USD Million & MT)

• Pipelines
• Cryogenic tanks

Market, By End Use, 2021 – 2032 (USD Million & MT)

• Transportation
• Chemicals
• Others

The above information has been provided for the following countries:

• China
• India
• Japan
• South Korea
• Australia