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Europe Liquid Hydrogen Market size was valued USD 9.5 Billion in 2023 and is anticipated to grow at a CAGR of 7.1% from 2024 to 2032. It is a liquefied form of hydrogen gas, achieved by cooling it to extremely low temperatures. At standard atmospheric pressure, hydrogen gas condenses into a liquid state at temperatures below -252.87 °C. Hydrogen then becomes denser and occupies significantly less volume compared to its gaseous form, making it easier to store and transport for various applications, including fueling vehicles, powering industrial processes, and supporting energy storage systems.
The European Union's Hydrogen Strategy, unveiled in 2020, includes initiatives to scale up hydrogen production, infrastructure development, and research and innovation in technologies, will provide a clear roadmap for the market growth. The region is actively engaging in international collaborations and partnerships including the European Clean Hydrogen Alliance and partnerships with countries like Japan, South Korea, and Australia which will foster innovation in the market. Rising shifts in industries including transportation, steel production, chemicals, and energy, to hydrogen as a low-carbon alternative to fossil fuels will augment the industry landscape.
Report Attribute | Details |
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Base Year: | 2023 |
Europe Liquid Hydrogen Market Size in 2023: | USD 9.5 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 7.1% |
2032 Value Projection: | USD 17.6 Billion |
Historical Data for: | 2019 to 2022 |
No. of Pages: | 240 |
Tables, Charts & Figures: | 200 |
Segments covered: | Production, Distribution, End Use and Country |
Growth Drivers: |
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Pitfalls & Challenges: |
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