Liquid Hydrogen Market, By Method (Electrolysis, Steam Methane Reforming (SMR), Coal Gasification, Others),would rocket up to USD  60.73 billion by 2030

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.

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.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-liquid-hydrogen-market

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.

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.

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.

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)

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

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