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North America Liquid Hydrogen Market Size

Report ID: GMI6777
Published Date: Dec 2024
Report Format: PDF

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North America Liquid Hydrogen Market Size

North America Liquid Hydrogen Market size was valued at more than USD 10.5 billion in 2023 and is expected to grow at 5.6% CAGR from 2024 to 2032.

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Liquid hydrogen is a cryogenic liquid that consists of hydrogen gas (H2) in a liquid state. It is achieved by cooling gaseous hydrogen to extremely low temperatures, typically below -252.8°C at standard atmospheric pressure. Setup of hydrogen refueling stations to support the fuel cell vehicle market along with growing emphasis on producing green hydrogen will boost the product penetration.

North America Liquid Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2024
North America Liquid Hydrogen Market Size in 2024:	USD 10.7 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	4.9%
2025 – 2034 Value Projection:	USD 17.2 Billion
Historical Data for:	2021-2023
No. of Pages:	60
Tables, Charts & Figures:	38
Segments covered:	Production Method, Distribution Method, End Use and Country
Growth Drivers:	Growing focus on alternative fuels Shifting trends towards decarbonization Increasing demand for liquid hydrogen in the automobile sector
Pitfalls & Challenges:	High cost associated to transportation

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The North American market for liquid hydrogen was reached USD 10.7 billion in 2024 and is estimated to grow at a 4.9% CAGR from 2025 to 2034, driven by the establishment of hydrogen refueling stations and a focus on green hydrogen production.

The cryogenic tanks segment is anticipated to exceed USD 13.5 billion by 2034, due to their safe storage and transportation capabilities for extremely cold, energy-dense cryogenic fluids.

The coal gasification segment is set to grow at a CAGR of over 3.5% through 2034, influenced by the shift towards clean and sustainable energy and the expanding hydrogen value chain.

The U.S. liquid hydrogen market is projected to surpass USD 14 billion by 2034, led by the expansion of hydrogen refueling infrastructure and the production of green hydrogen from renewable sources.

Key players in the North American liquid hydrogen market include Air Liquide, Air Products & Chemicals, Chart Industries, ENGIE, ENH2, GE Appliances, Iwatani Corporation, Kawasaki Heavy Industries, Linde, Matheson Tri-Gas, Messer, Plug Power, and Shell.