Transportation Liquid Hydrogen Market Size - By Distribution (Pipelines, Cryogenic Tanks), By Production (Coal Gasification, SMR, Electrolysis,), Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2024 – 2032

Transportation Liquid Hydrogen Market Size

Transportation Liquid Hydrogen Market was valued at USD 22.4 billion in 2023 and is estimated to register over 6% CAGR between 2024 and 2032.
 

Growing investments from both public and private sectors in the development of hydrogen technologies, including liquid hydrogen for mobility along with increase in funding to support research and development will accelerate the market growth.
 

COVID- 19 Impact

The COVID- 19 pandemic led to disruptions in global supply chains, affecting the production and transportation of various goods, including hydrogen-related components and equipment. However, investments in hydrogen and related infrastructure, including transportation in line with increasing emphasis on sustainable and eco-friendly solutions will stimulate the market dynamics.
 

Transportation Liquid Hydrogen Market Trends

Heavy investments in the development of hydrogen fuel cell vehicles coupled with exploring hydrogen as a versatile energy carrier that can be produced from various sources will accelerate the market growth. Furthermore, growing awareness of environmental issues in line with the need for cleaner transportation options are driving the demand for zero-emission vehicles which in turn will augment the business potential.
 

Transportation Liquid Hydrogen Market Analysis

 

The coal gasification market will register 5.5% growth rate from 2024 to 2032, owing to the implementation of supportive policies that promote clean energy, carbon reduction, and the development of a hydrogen economy in line with increasing integration of coal gasification with carbon capture and storage technologies. Moreover, ongoing technological advancements in coal gasification processes along with availability of abundant and affordable coal resources will enhance the efficiency, reduce environmental impacts, and make the overall hydrogen production more economically viable, thereby bolstering the product penetration.
 

The cryogenic tanks market is anticipated to reach USD 27 billion by 2032. Growing emphasis on the development of cryogenic technology to improve the efficiency, safety and performance coupled with improvement in tank insulation materials and techniques will enhance the business growth. Additionally, global commitment to decarbonize the transport sector combined with key features of the storage tanks to provide clean solution will stimulate the industry landscape.
 

Europe transportation liquid hydrogen market is predicted to observe around 6.5% CAGR through 2032.  Ongoing requirement to reduce greenhouse gas emissions and combat climate change along with focus of governments and industries towards decarbonizing the transportation sector will accelerate the business scenario. Furthermore, the concept of hydrogen hubs and clusters among industry players in line with collaborative efforts among countries to establish interconnected hydrogen networks will foster the product demand.
 

Transportation Liquid Hydrogen Market Share

International collaborations and partnerships between governments, research institutions, and private companies will accelerate the development and adoption of liquid hydrogen across the transport sector. Strategic agreements along the supply chain, from hydrogen production to transportation, contribute to optimizing the entire process. Therefore, these collaborations facilitate knowledge sharing, technology transfer, and joint initiatives to address the challenges associated with hydrogen transportation.
 

Transportation Liquid Hydrogen Market Companies

Eminent players operating in the transportation liquid hydrogen industry are:

• Air Liquide
• Air Products and Chemicals, Inc.
• Iwatani Corporation
• Messer
• Plug Power Inc.
• ENGIE
• Linde plc
• GE Appliances
• Shell plc
• Chart Industries
• Kawasaki Heavy Industries, Ltd.
• INOX India Limited
• GenH2
• Praxair Technology, Inc.
• Salzburger Aluminium Group
   

Transportation Liquid Hydrogen Industry News

• In May 2023, GenH2 signed an MoU with ZeroAvia for the development of liquid hydrogen aviation infrastructure solutions for utilization in the airport area. GenH2’ L2H fuel technology will support the ground refueling unit. The company will expand its presence across the liquid hydrogen and aviation industries.
   
• In January 2023, Linde plc declared its plan to increase capacity of its green hydrogen production to meet the rising need from mobility market. Moreover, the facility aims to reduce over 75,000 MT of CO2 emissions annually and expected to start by the end of 2024. Thereby, the company solidified its liquid hydrogen portfolio across the U.S.
   

This transportation liquid hydrogen market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘MT & USD Billion’ from 2024 to 2032 for the following segments:

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Market, By Distribution

• Pipelines
• Cryogenic Tanks

Market, By Production

• Coal Gasification
• SMR
• Electrolysis

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Rest of World