The market for liquid hydrogen was expected to be worth USD 15,972 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 4.1% to reach a value of USD 32,645 million by 2033. It is projected that the market will reach a volume of 200,513 tons by 2033, up from 124,239 tons of consumption in 2022.

Our study on the global liquid hydrogen market offers a thorough analysis of the situation of the market today and its potential going forward. Our analysis and insights give companies thorough and useful market intelligence. They will be able to make wiser choices and succeed more in their specialized marketplaces as a result.

Our study gives a thorough analysis and precise estimate of the market’s growth in the following years. Our study includes estimates and insights into market size, revenue growth, market segmentation, product types, and competition. Our research also includes an overview of the competitive landscape and an estimate of the market opportunities. Our enhanced market research enables organizations to readily identify significant industry trends, product segmentation, pricing strategies, and future growth prospects. Additionally, our study gives insight into upcoming technologies and their prospective commercial consequences. With our extensive market study, company owners can plan their strategies and create an effective business model to outperform their competitors.

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Liquid Hydrogen Market Regional Scope

  • North America
  • Europe
  • APAC
  • South America
  • Middle East
  • Africa

Key Company

  1. Engie S.A.
  2. Air Liquide S.A.
  3. Air Products Inc.
  4. Linde plc
  5. Uniper SE
  6. Cummins Inc.
  9. Iwatani Corporation
  10. Universal Industrial Gases, Inc.
  11. Ballard Power Systems Inc.
  12. Wuxi Yuantong Gas Co., Ltd.
  13. First Element Fuel, Inc.
  14. MesserGroup GmBh

Regional Insights

The demand for LH2 in North America is mostly driven by the aerospace sector, where commercial enterprises like SpaceX and Blue Origin, as well as NASA, use LH2 as rocket fuel for their launch vehicles and spacecraft. Other industries, such as heavy industry, transportation, and power generation, are becoming more interested in using LH2 as a clean energy source, in addition to the aerospace sector. For instance, several North American businesses are creating buses and trucks with LH2 engines.

Regarding investment, several North American businesses generate and distribute LH2 to the aerospace sector and other sectors. Investment possibilities also exist for the creation of novel technologies for LH2 transport and storage, as well as for the generation of LH2 from renewable energy sources. Launched by the Canadian government in 2020, the Hydrogen Forward program is one of the largest LH2 initiatives in North America. The initiative supports demonstration projects across a range of sectors and provides money for the study and development of hydrogen technologies, notably LH2.

All things considered, there is a lot of demand for and investment potential in LH2 in North America, especially in the aerospace sector and as a clean energy source for other uses. An important market for investment and demand for liquid hydrogen (LH2) is the Asia-Pacific (APAC) region. With active space projects in nations like China and Japan that use LH2 as rocket fuel, the aerospace sector is a major demand generator in APAC. The use of LH2 as a clean energy source is becoming more popular outside of the aerospace sector in sectors including power generation, heavy industry, and transportation.

Japan’s Hydrogen Society Vision, which was introduced in 2017 to encourage the use of hydrogen as a sustainable energy source, is one of the main LH2 efforts in the Asia-Pacific region. As part of the effort, supply networks for hydrogen will be established and LH2 technologies will be developed and implemented. APAC is home to several businesses that generate and distribute LH2, as well as businesses that are in the process of creating new technologies for LH2 storage and delivery. In addition, a large number of LH2-related research and development initiatives with financial backing from national governments are underway throughout the area.

All things considered, APAC has a sizable market for LH2 and offers considerable investment opportunities, especially considering the rising emphasis on clean energy and the growth of hydrogen economies.

Scope of the Report

This paper estimates and analyzes the Global Liquid Hydrogen Market in the past, present, and future. The market estimates presented in the paper were established using an intensive research process. The recognized research strategy employs many research channels, including primary, secondary, and subject-specific expert input. The Seasonal Affective Disorder Market is calculated by considering the influence of several economic, social, and political factors in addition to current market dynamics. Market data is also influenced by various legislation, government spending, and the increase of R&D. The market estimates take into consideration both positive and negative developments in the market.

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