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Asia Pacific Electrolysis Liquid Hydrogen Market Trends

Report ID: GMI11411
Published Date: Sep 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

The Asia Pacific electrolysis liquid hydrogen industry was valued at approximately USD 1.06 billion in 2023. It is expected to experience significant growth, with projections indicating a CAGR of 6.4% through 2032 attributed to ambitious carbon neutrality goals, the rise of renewable energy projects, and the adoption of electrolysis for producing high-purity hydrogen. environmental and energy goals.

The transportation segment is projected to see substantial growth, with an increase of over USD 895 million by 2032. This growth is fueled by the rising adoption of hydrogen as a clean fuel alternative for heavy-duty transport sectors such as trucking, shipping, aviation, and rail.

China is expected to see substantial growth, with projections indicating an increase of over USD 1.03 billion by 2032. This growth is driven by China's commitment to carbon neutrality by 2060 and significant investments in hydrogen infrastructure, including production, storage, and distribution networks.

Key players in the market include 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