Europe Liquid Hydrogen Market Analysis

Europe Liquid Hydrogen Market Analysis

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Based on production, the market is segmented into coal gasification, SMR and electrolysis. SMR is anticipated to grow by more than USD 15 billion by 2032 owing to its efficiency, scalability, and cost-effectiveness. When combined with carbon capture and storage (CCS) technologies, it offers a pathway to produce "blue" hydrogen, which will significantly reduce carbon emissions compared to the conventional hydrogen production methods, thereby creating growth prospects. Further, availability of existing natural gas infrastructure and the abundance of methane feedstock in Europe will create opportunities for process growth.

Based on distribution, the Europe liquid hydrogen market is segmented into pipelines and cryogenic tanks. Pipelines are set to grow at a CAGR of over 7.6% by 2032. Rising demand for hydrogen, particularly in sectors including transportation, industry, and power generation, has increased the need for reliable and cost-effective transportation infrastructure thereby fueling the pipeline demand. Moreover, distribution channels along with hydrogen storage facilities enhances the flexibility and reliability of the supply chain thereby making them a preferred choice as compared to alternative distribution channels.

UK liquid hydrogen market is anticipated to grow by more than USD 2.9 billion by 2032. The government's landmark Hydrogen Strategy unveiled in 2021, outlines a comprehensive roadmap to unlock the potential of hydrogen across key sectors will escalate the market growth trajectory. The presence of abundant renewable energy resources, including offshore wind and solar power, provides a solid foundation for green hydrogen production. The improving green industry will drive investments in the associated projects, including the development of hydrogen hubs, production facilities, and distribution networks thereby stimulating the market landscape.