Global Liquid Hydrogen Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2023 –2030 |
 Market Size (Base Year) |
USD 39.27 Billion |
 Market Size (Forecast Year) |
USD 60.73 Billion |
 CAGR |
% |
| Major Markets Players |
Global Liquid Hydrogen Market, By Method (Electrolysis, Steam Methane Reforming (SMR), Coal Gasification, Others), Distribution Channel (Pipelines, Cryogenic liquid tankers), End User (Transportation, Chemicals and Petrochemicals, Electronics, Refining, Metals, Glasses, Other End User Industries) - Industry Trends and Forecast To 2030.
Liquid Hydrogen Market Analysis and Size
A liquid hydrogen is a liquid form of hydrogen element. The chemical formulae for liquid hydrogen are LH2. Although mostly used in a gaseous state, hydrogen is stored and transported in liquid form.
Increasing focus on the decarbonization of the global energy industry is the root cause of the liquid hydrogen market growth rate. Growth and expansion of the automobile industry and other end user verticals are other factors responsible for propelling growth in the liquid hydrogen market value. An upsurge in the awareness of the higher efficiency of liquefaction will further create lucrative growth opportunities for the liquid hydrogen market. The rising demand for liquid hydrogen by the chemicals and petrochemicals industry will further accelerate the liquid hydrogen market growth rate. Rising industrialization coupled with rising carbon emissions from vehicles will also directly and positively impact the growth rate of the liquid hydrogen market.
Data Bridge Market Research analyses that the Global Liquid Hydrogen Market, which was USD 39.27 billion in 2022, would rocket up to USD 60.73 billion by 2030, and is expected to undergo a CAGR of 5.60% during the forecast period of 2023 to 2030. The electrolysis segment is expected to dominate the market globally due to the increasing focus on decarbonizing the global energy industry. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Liquid Hydrogen Market Scope and Segmentation
|
Report Metric |
Details |
|
Forecast Period |
2023 to 2030 |
|
Base Year |
2022 |
|
Historic Years |
2021 (Customizable to 2015-2020) |
|
Quantitative Units |
Revenue in USD Billion, Volumes in Tons, Pricing in USD |
|
Segments Covered |
Method (Electrolysis, Steam Methane Reforming (SMR), Coal Gasification, Others), Distribution Channel (Pipelines, Cryogenic liquid tankers), End User (Transportation, Chemicals and Petrochemicals, Electronics, Refining, Metals, Glasses, Other End User Industries) |
|
Countries Covered |
U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, rest of Europe, Japan, China, South Korea, India, Australia, and New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa. |
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Market Players Covered |
Air Products Inc.(U.S.), Air Liquide (France), Ballard Power Systems. (U.S.), FuelCell Energy, Inc.(U.S.), ELME MESSER L (Germany), FirstElement Fuel, Inc.(U.S.), Linde plc (Ireland), Cummins Inc.(U.S.), PLUG POWER INC.(U.S.), PowerCell Sweden AB (Sweden), Iwatani Corporation. (Japan), United Hydrogen a.s. (U.S.), Kawasaki Heavy Industries, Ltd. (Japan), |
|
Market Opportunities |
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Market Definition
Liquid hydrogen is used as fuel for an internal combustion engine or fuel cell, as liquid rocket fuel in rocketry applications, and to cool neutrons for neutron scattering. Given its advantageous properties, such as transportation and storage simplicity, the expanding usage of green hydrogen in the most emerging industries for heavy mobility, such as road freight, maritime, and aviation, impacts demand for liquid hydrogen. The growing demand for liquid hydrogen in the chemical and petrochemical industries will further propel the market. However, the expansion of the liquid hydrogen industry will be significantly hampered by the high cost of liquid hydrogen transportation.
Global Liquid Hydrogen Market Dynamics
Drivers
- Increasing demand for clean energy
Liquid hydrogen is considered a clean and sustainable energy source, producing only water vapor when used in fuel cells. The growing global concern for reducing greenhouse gas emissions and transitioning to cleaner fuels has driven the demand for liquid hydrogen as an alternative to traditional fossil fuels.
- Advancements in hydrogen infrastructure
Developing a robust hydrogen infrastructure, including production, storage, and distribution facilities, is crucial for the widespread adoption of liquid hydrogen. Technological advancements and investments in infrastructure development play a significant role in driving the market for liquid hydrogen.
Opportunities
- Integration of renewable energy
Liquid hydrogen can be produced through electrolysis using renewable energy sources such as solar and wind power. As the share of renewable energy in the power generation mix continues to grow, the production of green hydrogen (produced using renewable electricity) is expected to increase, thereby driving the market for liquid hydrogen.
Restraints/Challenges
- High production and infrastructure costs
The production of liquid hydrogen requires significant energy input and specialized infrastructure. The costs associated with hydrogen production, storage, and transportation can be relatively high compared to traditional fuels. These high costs can limit the widespread adoption of liquid hydrogen, especially in regions with limited financial resources or inadequate infrastructure.
Recent Developments
- In December 2022, Yingde Gases unveiled its Water Electrolysis Tank for Hydrogen Production, the first of its kind in China. Yingde Gases Group exhibited a completed 500Nm3/h hydrogen-generating water electrolysis tank that was totally designed and produced in-house at its engineering and production plant
- In August 2022, Air Liquide established its largest liquid hydrogen production and logistics infrastructure site. The corporation has laid the groundwork for more businesses to relocate to the area with this structure. This will result in additional jobs and investment in the area.
Global Liquid Hydrogen Market Scope
The Global Liquid Hydrogen Market is segmented on the basis of method, distribution channel, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Method
- Electrolysis
- Steam Methane Reforming (Smr)
- Coal Gasification
- Others
Distribution Channel
- Pipelines
- Cryogenic Liquid Tankers
End User
- Transportation
- Chemicals And Petrochemicals
- Electronics
- Refining
- Metals
- Glasses
- Other End User Industries
Global Liquid Hydrogen Market Regional Analysis/Insights
The global liquid hydrogen market is analyzed, and market size insights and trends are provided by method, distribution channel, and end user as referenced above.
The countries covered in the global liquid hydrogen market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Russia, Turkey, Switzerland, Belgium, Netherlands, rest of Europe, Japan, China, South Korea, India, Australia and New Zealand, Singapore, Thailand, Indonesia, Malaysia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel and rest of Middle East and Africa.
Asia-Pacific is expected to dominate due to the increased adoption of electric vehicles owing to the rising concerns regarding carbon emissions is fostering the market growth in this region. Increasing the setup of liquid hydrogen by refinery industries is another important factor inducing growth in the demand for liquid hydrogen. Growth and expansion of the end user verticals in this region will directly and positively impact the market value of liquid hydrogen. Large population, large-scale production, and abundant availability of raw materials.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Liquid Hydrogen Market Share Analysis
The global liquid hydrogen market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points are only related to the companies' focus on the global liquid hydrogen market.
Some of the major players operating in the global liquid hydrogen market are:
- Air Products Inc.(U.S.)
- Air Liquide (France)
- Ballard Power Systems. (U.S.)
- FuelCell Energy, Inc.(U.S.)
- ELME MESSER L (Germany)
- FirstElement Fuel, Inc.(U.S.)
- Linde plc (Ireland)
- Cummins Inc.(U.S.)
- PLUG POWER INC.(U.S.)
- PowerCell Sweden AB (Sweden)
- Iwatani Corporation. (Japan)
- United Hydrogen a.s. (U.S.)
- Kawasaki Heavy Industries, Ltd. (Japan)
SKU-
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Customization Available
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