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North America Steam Methane Reforming Liquid Hydrogen Market Trends

Report ID: GMI10019
Published Date: Jun 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Pooja Shukla

Frequently Asked Questions (FAQ) :

North America steam methane reforming liquid hydrogen industry size was worth USD 9.2 billion in 2023 and is projected to expand at 5.6% CAGR from 2024 to 2032, led by the growing traction for hydrogen fuel cells in various sectors.

The North America steam methane reforming liquid hydrogen market share from the transportation end-use segment is projected to be worth over USD 7.7 billion by 2032, credited to the government policies and regulations in the U.S. and Canada.

The pipeline distribution segment in the North America steam methane reforming liquid hydrogen industry is projected to grow at over 7% CAGR between 2024 and 2032, due to the efficiency and reliability of pipeline distribution of steam methane reforming liquid hydrogen crucial for industries and applications requiring a consistent hydrogen supply.

U.S. steam methane reforming liquid hydrogen industry is projected to amass more than USD 12.6 billion by 2032, due to the expanding hydrogen infrastructure to support the increasing demand.