North America Electrolysis Liquid Hydrogen Market Size - By Distribution (Pipelines, Cryogenic Tanks), By End Use (Transportation, Chemicals) & Forecast, 2024 – 2032

North America Electrolysis Liquid Hydrogen Market Size

North America Electrolysis Liquid Hydrogen Market size was valued USD 220.3 million in 2023 and is estimated to grow at a CAGR of 7.5% between 2024 and 2032. It refers to the process of using electrical energy to split water into its basic components—hydrogen and oxygen—while hydrogen is subsequently cooled and stored in its liquid form. This method, often powered by renewable energy, is a key technology in producing clean, high-purity liquid hydrogen for various industrial, energy, and transportation applications, contributing to a sustainable hydrogen economy.
 

Rising government support towards hydrogen adoption as a clean energy solution aiming to reduce overall production cost is set to influence the process adoption. Growing integration of renewable energy with clean fuel to reduce carbon footprint and overcome stringent standards are additional factors stimulating the industry growth.
 

Continuous improvements in electrolyzer technology to enhance efficiency and reduce production cost coupled with rising innovations including high temperature electrolysis and advanced membrane technologies to make the process more economically viable are strengthening the business outlook. Growing demand for clean energy from various industries including refineries, steel mills, and chemical plants to reduce carbon emissions and turn hydrogen into a clean energy alternative will foster the process penetration.
 

North America Electrolysis Liquid Hydrogen Market Trends

Rising investments in hydrogen powered transportation, including buses, trucks, and trains, and the development of clean energy refueling infrastructure are contributing to the process demand. Furthermore, increasing stringent environmental regulations are pushing the industries to adopt clean technologies, thereby boosting the process adoption to align with these regulations by offering a low emission alternative for hydrogen production.
 

North America Electrolysis Liquid Hydrogen Market Analysis

Based on distribution, the North America electrolysis liquid hydrogen industry is segmented into cryogenic tanks and pipeline. Cryogenic tanks are projected to grow by more than USD 335.5 million by 2032, on account of their high storage density, making them a preferred option for handling large volumes of hydrogen. Expansion of hydrogen refueling stations for fuel cell vehicles and rising economic incentives aimed at promoting clean energy technologies are driving the systems adoption.

Growing technological improvements in tank design and manufacturing to make the system more reliable, cost-effective, and easier to handle are fostering the market growth. Furthermore, ongoing innovations including advanced insulation materials and improved tank construction techniques enhance the tank performance, making them more attractive for large-scale hydrogen storage.
 

Based on end use, the North America electrolysis liquid hydrogen market is segmented into transportation, chemicals and others. Rising decarbonization goals coupled with growing interest in hydrogen fuel cell vehicles are driving process adoption owing to its high energy density and storage efficiency. Increasing collaborations between automotive manufacturers, hydrogen producers, and technology providers are accelerating the development and technology deployment. Furthermore, rising joint ventures and partnerships to help streamline the supply chain and increase the availability of liquid clean fuel for transportation are fostering the business growth.
 

The U.S. electrolysis liquid hydrogen market is anticipated to grow by more than USD 343 million by 2032. Rising development of hydrogen hubs under the Biden administration’s Hydrogen Energy Earthshot initiative, aiming to create a network of hydrogen production, storage, and utilization centers across the country are set to drive the process adoption. Additionally, these projects emphasize large-scale production, particularly green hydrogen, leading to create process demand in leveraging the renewable energy.
 

Increasing demand for rural and off grid power solutions will encourage companies to explore clean fuel as a power source leading to bolstering the process demand to enable easy transportation to these remote locations and provide a clean and reliable energy supply. Furthermore, the U.S. government’s focus on reducing emissions in freight and commercial transport has led to increased investment in hydrogen-powered trucking, boosting demand for electrolysis-produced liquid hydrogen.
 

North America Electrolysis Liquid Hydrogen Market Share

North America Electrolysis Liquid Hydrogen Market Companies

Eminent players operating in the North America electrolysis liquid hydrogen industry are:

• Air Liquide
• Air Products and Chemicals
• Cummins
• Enapter
• ENGIE
• GreenH Electrolysis
• Linde
• MAN Energy Solutions
• Plug Power
• Shell
• Siemens Energy
• Thyssenkrupp
   

North America Electrolysis Liquid Hydrogen Industry News:

• In May 2023, Accelera by Cummins, a zero-emissions division of Cummins Inc., has launched its first electrolyzer production facility in the U.S., located in Minnesota. The inauguration was attended by various officials, highlighting the advancing green hydrogen economy and the critical role of clean technology innovation.
   
• In July 2022, Plug Power Inc., a key player in liquid hydrogen solutions, secured a contract to deliver a 5 MW containerized proton exchange membrane (PEM) electrolyzer system to Irving Oil. This system will be used for hydrogen production and distribution at Irving Oil’s Saint John refinery in New Brunswick, Canada—the largest refinery in the country. This project marks a significant step in expanding green hydrogen production and supporting clean energy initiatives.
   

North America electrolysis liquid hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue and volume in “USD Million & MT” from 2021 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Distribution

• Pipelines
• Cryogenic tanks

Market, By End Use

• Transportation
• Chemicals
• Others

The above information has been provided for the following countries:

• U.S.
• Canada