North America Steam Methane Reforming Liquid Hydrogen Market - By Distribution (Pipelines, Cryogenic Tanks), By End Use (Transportation, Chemicals, Others), 2024 – 2032

North America Steam Methane Reforming Liquid Hydrogen Market Size

North America Steam Methane Reforming Liquid Hydrogen Market was valued USD 9.2 billion in 2023 and is anticipated to grow at a CAGR of 5.6% through 2032. It is an industrial process that converts methane, primarily from natural gas, into hydrogen gas through a reaction with steam at high temperatures. The hydrogen gas is then cooled and condensed into its liquid form, providing a high-density energy source suitable for various applications, including fuel cells, industrial processes, and space exploration. This method is recognized for its efficiency in generating large quantities of high-purity hydrogen.
 

Increasing focus on clean energy solutions and growing traction for hydrogen fuel cells in various sectors, including transportation, power generation, and industrial applications will uplift the process adoption. Improving technology and innovations such as improved catalyst design, heat recovery systems, and carbon capture and storage (CCS) integration are driving the business scenario.
 

Increasing efforts by government to promote development and adoption of hydrogen as a clean energy source by providing subsidies, tax incentives, and funding for clean fuel infrastructure development is set to augment the industry growth. Rising investments in expanding clean energy infrastructure, including refueling stations and distribution networks across North America to facilitate the availability and accessibility of liquid hydrogen are escalating process adoption.
 

North America Steam Methane Reforming Liquid Hydrogen Market Trends

Rising demand for liquid hydrogen from transportation sector along with various industries such as chemicals, refining, electronics, and metal processing is propelling the process penetration. Increasing awareness of climate change and the need for sustainable practices, industries and governments are shifting towards solutions that can reduce their carbon footprints thereby fostering the market statistics.
 

North America Steam Methane Reforming Liquid Hydrogen Market Analysis

Based on end use, the North America steam methane reforming liquid hydrogen market is segmented into transportation, chemicals and others. Transportation is anticipated to grow by more than USD 7.7 billion by 2032. Growing government policies and regulations in the U.S. and Canada aimed at reducing greenhouse gas emissions pushing automotive manufacturers and fleet operators to seek low-emission alternatives thereby impacting business growth. Increasing advancements in fuel cell vehicles offering longer ranges, faster refueling times, and better performance compared to earlier models are complementing the process growth.
 

Based on distribution, the market is segmented into pipeline and cryogenic tanks. Pipelines are set to grow at a CAGR of over 7% till 2032 due to their efficiency and reliability crucial for industries and applications requiring a consistent hydrogen supply, such as refueling stations and industrial processes. Rising adoption of distribution modes with cost and environmental benefits to reduce overall operation expenditure and carbon footprint associated with transportation are additional factors boosting the industry landscape. Furthermore, growing shift towards highly scalable solutions with modern technologies incorporating advanced materials and monitoring systems that enhance safety and security during clean fuel distribution will uplift the business scenario.
 

U.S. steam methane reforming liquid hydrogen market is anticipated to grow by more than USD 12.6 billion by 2032. Rising regulatory support by the federal government and several states to promote hydrogen as a clean energy source is driving the market growth. Growing initiatives such as the Hydrogen Energy Earthshot initiative to accelerate breakthroughs in hydrogen production and reduce costs will stimulate the industry statistics. Expanding hydrogen infrastructure to support the increasing demand in line with rising popularity of hydrogen fuel cell vehicles (FCVs) in the transportation sector, particularly in states such as California to overcome stringent emission standards, is improving the business growth.
 

North America Steam Methane Reforming Liquid Hydrogen Market Share

Eminent players are expanding their production capacities by building new SMR plants or upgrading existing facilities. These expansions are strategically located near high-demand regions to ensure a stable liquid hydrogen supply. Companies are investing heavily in research and development to enhance the efficiency and environmental performance of SMR technologies. Furthermore, new players are investing in the development and expansion of hydrogen refueling infrastructure to support the growth of hydrogen fuel cell vehicles (FCVs) and ensure accessibility for end users.
 

North America Steam Methane Reforming Liquid Hydrogen Market Companies

Eminent players operating in the North America steam methane reforming liquid hydrogen industry are:

• Air Liquide
• Air Products and Chemicals, Inc.
• Chart Industries
• Cummins Inc
• ENGIE
• HyGear
• Ineos
• Linde Plc
• Matheson Tri-Gas
• Messer Group
• Plug Power Inc
• Shell Plc
• Uniper SE
   

North America Steam Methane Reforming Liquid Hydrogen Industry News:

• In December 2023, Linde expanded its Alabama facility to produce up to 30 tons of liquid hydrogen per day. This will meet the rising hydrogen demand in manufacturing, electronics, space launch, and mobility sectors, serving both existing and new customers.
   
• In March 2022, Air Liquide is set to open a US 250 million steam methane reforming plant in Las Vegas, Nevada, which will use renewable natural gas (RNG). This will be the first large scale liquid hydrogen production facility aimed at the US West Coast, particularly serving California's market of 10,000 fuel cell vehicles. Additionally, the plant will support other industrial markets.
   

North America Steam Methane Reforming Liquid Hydrogen market research report includes an in-depth coverage of the industry with estimates & forecast in terms of volume and revenue in “USD Billion & MT” from 2021 to 2032, for the following segments:

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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