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Europe Liquid Hydrogen Market Trends

Report ID: GMI8935
Published Date: Apr 2024
Report Format: PDF

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Europe Liquid Hydrogen Market Trends

Rising hydrogen strategy with a focus on scaling up hydrogen production, fostering cross-border cooperation, and accelerating the deployment of hydrogen technologies, will uplift the industry scenario. Rising technological advancements including breakthroughs in electrolysis, hydrogen storage, and fuel cell technology will unlock new possibilities for its applications across diverse sectors, thereby improving the product market penetration. Strategic partnerships and collaborations including public-private partnerships to cross-sector collaborations, will drive synergies, sharing expertise, and overcoming barriers to fuel adoption, thereby fueling the market momentum.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

Europe liquid hydrogen market size was USD 9.5 billion in 2023 and is expected to register 7.1% CAGR from 2024-2032 owing to rising shifts in industries including transportation, steel production, chemicals, and energy, to hydrogen as a low-carbon alternative to fossil fuels in the region.

Europe liquid hydrogen market from the SMR segment is expected to exceed USD 15 billion by 2032 due to its efficiency, scalability, and cost-effectiveness along with availability of existing natural gas infrastructure and the abundance of methane feedstock.

The UK liquid hydrogen industry is expected to cross USD 2.9 billion by 2032 due to improving green industry, driving investments in the associated projects, including the development of hydrogen hubs, production facilities, and distribution networks in the country.

Air Liquide, Chart Industries, ENEOS Corporation, ENGIE, Hexagon Composites, Iwatani Corporation, Kawasaki Heavy Industries, Ltd., Linde plc, Messer, Nel ASA, Plug Power Inc., Shell plc, and TotalEnergies, are some of the major liquid hydrogen companies in Europe.