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Europe Transportation Liquid Hydrogen Market Size

Report ID: GMI9521
Published Date: May 2024
Report Format: PDF

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Europe Transportation Liquid Hydrogen Market Size

Europe Transportation Liquid Hydrogen Market size was valued USD 6.27 Billion in 2023 and is anticipated to grow at a CAGR of 6.7% from 2024 and 2032. Liquid Hydrogen is the liquid state of the element hydrogen, obtained by cooling gaseous hydrogen to extremely low temperatures at below -253°C . It is primarily used as a fuel and energy carrier due to its high energy content and clean combustion properties.

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Governments are providing financial support through subsidies, grants, and tax incentives to promote hydrogen technologies and infrastructure development will enhance the industry demand. Countries like Germany, Japan, and South Korea have developed comprehensive hydrogen strategies outlining goals for hydrogen production, infrastructure, and adoption across various sectors is set to stimulate the business dynamics. Furthermore, Increasing adoption of hydrogen fuel cell vehicles, especially in public transportation (buses and trains) and heavy-duty trucking, supported by the development of hydrogen refueling infrastructure will accelerate the industry dynamics.

Europe Transportation Liquid Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Transportation Liquid Hydrogen Market Size in 2023:	USD 6.27 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.7%
2032 Value Projection:	USD 11.2 Billion
Historical Data for:	2021 - 2023
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Distribution Method, Production and Country
Growth Drivers:	Shifting focus towards decarbonization Growing utilization of hydrogen across transportation Strategic alliances and large scale investments for clean hydrogen economy
Pitfalls & Challenges:	Lack of hydrogen refuelling network

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Expansion of distribution networks, including pipelines, refueling stations, and transportation systems, to support widespread product adoption. Establishment of international trade routes for liquid hydrogen, including import and export agreements between countries will complement the product penetration. Additionally, implementation of carbon pricing mechanisms and stringent emissions targets will boost the industry statistics.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

Europe transportation liquid hydrogen market size was USD 6.27 billion in 2023 and is expected to register 6.7% CAGR from 2024-2032 owing to the governments providing financial support through subsidies, grants, and tax incentives to promote hydrogen technologies worldwide.

Europe transportation liquid hydrogen market from the steam methane reforming segment is expected to reach USD 9 billion by 2032 due to growing adoption of SMR technology owing to technological advancements, market demand, and regulatory factors.

Germany transportation liquid hydrogen industry is expected to record USD 8 billion by 2032 due to European Union's commitment to reducing carbon emissions and transitioning to clean energy coupled with strong governmental support in the country.

Air Liquide, Air Products and Chemicals, Inc., Chart Industries, Demaco, ENGIE, GenH2, INEOS, INOX India Limited, Iwatani Corporation, Linde plc, Messer, Plug Power Inc., Salzburger Aluminium Group, and Shell plc, are some of the major transportation liquid hydrogen companies in Europe.