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Liquid Hydrogen Market Trends

Report ID: GMI5996
Published Date: Jun 2024
Report Format: PDF

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Liquid Hydrogen Market Trends

The liquid hydrogen industry is experiencing significant growth, driven by advancements in technology, increasing demand for clean energy, and supportive government policies. Liquid hydrogen is increasingly being used to store and transport renewable energy along with Governments and industries are setting ambitious decarbonization targets, driving the demand for clean hydrogen solutions, thereby augmenting the industry landscape. Advances in hydrogen liquefaction technologies are reducing the energy required and the costs associated with producing liquid hydrogen which will drive the business scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of liquid hydrogen reached USD 38.4 billion in 2023 and will witness 6.1% CAGR between 2024 and 2032, propelled by advancements in hydrogen production technologies, increasing applications in sectors, and investments in hydrogen infrastructure.

Liquid hydrogen industry size from the cryogenic tanks segment will garner 5.5% CAGR through 2032, due to its critical role in storing and transporting hydrogen at extremely low temperatures.

Asia Pacific market size will reach USD 27.5 billion by 2032, owing to rapid industrialization, urbanization, and government initiatives promoting clean energy.

Some of the leading liquid hydrogen companies include Air Products and Chemicals, Inc., Air Liquide, Chart Industries, ENGIE, GE Appliances, GENH2, INOX India Limited, Kawasaki Heavy Industries, Ltd., Linde plc, Messer, Plug Power Inc., and Iwatani Corporation, among others.