Electrolysis Liquid Hydrogen Market Size

Electrolysis Liquid Hydrogen Market Size

Electrolysis Liquid Hydrogen Market was valued at USD 2.1 billion in 2023 and is anticipated to grow at a CAGR of 7.2% between 2024 and 2032. It refers to the hydrogen gas production through electrolysis which involves using an electrical current to split water into hydrogen and oxygen gases followed by liquefaction The gas produced is then cooled to cryogenic temperatures to convert it into liquid form which is then stored and transported more easily compared with its gaseous counterpart, making it valuable for various industrial, energy, and transportation applications.

Rising focus towards achieving net-zero emissions by developed countries is accelerating the adoption of liquid green hydrogen due to its high energy density and clean production will propel the process adoption. Expanding innovations in electrolyzer technology, including improvements in efficiency, cost reduction, and scalability, to make the process more economically viable in line with rising advancements in PEM and solid oxide electrolyzers to enhance efficiency, and product quality will influence the market growth.

Growing need for sustainable and clean energy sources coupled with rising hydrogen adoption as feedstock in various industrial processes such as ammonia production, refining, and steel manufacturing will stimulate the product demand. Moreover, rising collaborations between leading energy companies, technology providers, and research institutions are fostering innovation and scaling up production capacities, thereby driving the industry scenario.