Market Overview:
The global liquid hydrogen market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for hydrogen as a fuel source in transportation and electronics applications. Additionally, the growing demand for hydrogen as an industrial feedstock is also contributing to the growth of the market. However, high production costs are restraining the growth of this market. On basis of type, steam methane reforming (SMR) accounted for majority share of global liquid hydrogen market in 2017 and is projected to maintain its dominance during forecast period 2018-2030 owing to its low production cost as compared with electrolysis process. On basis on application, transportation sector dominated global liquid hydrogen market with highest share in 2017 and is projected witness highest CAGR over next 10 years owing rising demand for fuel cell vehicles across globe coupled with stringent emission norms by regulatory authorities such as EPA (Environmental Protection Agency) and CARB (California Air Resources Board).
Product Definition:
Liquid hydrogen is a fuel used in liquid-fuel rockets. It is the lightest element and therefore provides the highest specific impulse or "thrust per pound of propellant" of any practical rocket fuel. Liquid hydrogen is also a clean and efficient fuel, emitting very little pollution when used.
Steam Methane Reforming (SMR):
The global steam methane reforming process is used to generate hydrogen and methanol. The SMR process has a growth factor of about 1.5 times as compared to the conventional H2/CO2 method, which makes it more attractive for use in liquid hydrogen production.
SMR uses pure water as a raw material along with natural gas or coal bed methane (CBM).
Electrolysis:
Electrolysis is a chemical process used for the production of hydrogen and oxygen from water. Electrolysis can be performed at various temperatures depending on the application. The most common electrolysis applications include residential & commercial electricity generation, fuel cells, hydrogenation of organic substances in food processing industry and metal reduction in mining sector.
Application Insights:
Transportation was the dominant application segment in the global liquid hydrogen market, accounting for over 60% of total volume in 2017. Liquid hydrogen is used to propel vehicles at high speeds by replacing gasoline with it. The transportation application is projected to grow at a CAGR of XX% from 2018 to 2030 owing to its wide scope as a fuel additive and refueler for both commercial and passenger vehicles on account of its clean combustion quality along with superior performance characteristics when compared with other alternative fuels such as diesel or gasoline.
Liquid hydrogen also finds applications in space exploration where it is used as an important component for maintaining equipment reliability and durability due to its freezing point which makes it suitable for use in spacesuits, space suits cooling systems, deep-space habitat air conditioners, life support systems & robotic spacecraft propellant tanks among others.
Regional Analysis:
Asia Pacific was the leading revenue contributor in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing an increasing demand for LHR gas across key industries such as electronics, refining, petrochemicals, and others. China is projected to remain a major market owing to its growing industrial sector along with technological advancements in various end-use industries.
The presence of numerous refineries including Saudi Arabia’s largest state owned oil company Saudi Aramco will boost industry growth further due to SMR projects being undertaken by them in partnership with LNG carriers such as Qatargas and Summerfield (FZ). In addition, factors such as favorable government policies supporting SMR technology are anticipated to drive regional market growth over the forecast period.
North America emerged as one of the prominent consumers of liquid hydrogen on account of high product demand from electronic devices manufacturing sector particularly in U.S.
Growth Factors:
- Increasing demand for fuel cells and hydrogen vehicles
- Growing demand from the chemical and petrochemical industries
- Rising investment in renewable energy sources such as solar and wind power
- Proliferation of small-scale liquefaction plants to meet localized demand
- Development of new applications for liquid hydrogen, such as storage of energy from intermittent renewables
Scope Of The Report
Report Attributes
Report Details
Report Title
Liquid Hydrogen Market Research Report
By Type
Steam Methane Reforming (SMR), Electrolysis
By Application
Transportation, Electronics, Chenicals and Petrochemicals, Refining, Others
By Companies
Linde, Air Products and Chemicals, Air Liquide, Taiyo Nippon Sanso, Air Water, Messer, Gulf Cryo, Yingde Gases, Kaimeite Gases, Showa Denko, Koatsu Gas Kogyo, Iwatani
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Liquid Hydrogen Market Report Segments:
The global Liquid Hydrogen market is segmented on the basis of:
Types
Steam Methane Reforming (SMR), Electrolysis
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Transportation, Electronics, Chenicals and Petrochemicals, Refining, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Linde
- Air Products and Chemicals
- Air Liquide
- Taiyo Nippon Sanso
- Air Water
- Messer
- Gulf Cryo
- Yingde Gases
- Kaimeite Gases
- Showa Denko
- Koatsu Gas Kogyo
- Iwatani
Highlights of The Liquid Hydrogen Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Steam Methane Reforming (SMR)
- Electrolysis
- By Application:
- Transportation
- Electronics
- Chenicals and Petrochemicals
- Refining
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Liquid Hydrogen Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Liquid hydrogen is a gas that has the consistency of water. It is colorless, odorless, and has a boiling point of -253 degrees Celsius (-423 degrees Fahrenheit). Liquid hydrogen can be used to create high-pressure gas tanks and rocket engines.
Some of the key players operating in the liquid hydrogen market are Linde, Air Products and Chemicals, Air Liquide, Taiyo Nippon Sanso, Air Water, Messer, Gulf Cryo, Yingde Gases, Kaimeite Gases, Showa Denko, Koatsu Gas Kogyo, Iwatani.
The liquid hydrogen market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Liquid Hydrogen Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Liquid Hydrogen Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Liquid Hydrogen Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Liquid Hydrogen Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Liquid Hydrogen Market Size & Forecast, 2020-2028
4.5.1 Liquid Hydrogen Market Size and Y-o-Y Growth
4.5.2 Liquid Hydrogen Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Steam Methane Reforming (SMR)
5.2.2 Electrolysis
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Transportation
6.2.2 Electronics
6.2.3 Chenicals and Petrochemicals
6.2.4 Refining
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Liquid Hydrogen Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Liquid Hydrogen Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Steam Methane Reforming (SMR)
9.6.2 Electrolysis
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Transportation
9.10.2 Electronics
9.10.3 Chenicals and Petrochemicals
9.10.4 Refining
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Steam Methane Reforming (SMR)
10.6.2 Electrolysis
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Transportation
10.10.2 Electronics
10.10.3 Chenicals and Petrochemicals
10.10.4 Refining
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Steam Methane Reforming (SMR)
11.6.2 Electrolysis
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Transportation
11.10.2 Electronics
11.10.3 Chenicals and Petrochemicals
11.10.4 Refining
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Steam Methane Reforming (SMR)
12.6.2 Electrolysis
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Transportation
12.10.2 Electronics
12.10.3 Chenicals and Petrochemicals
12.10.4 Refining
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Steam Methane Reforming (SMR)
13.6.2 Electrolysis
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Transportation
13.10.2 Electronics
13.10.3 Chenicals and Petrochemicals
13.10.4 Refining
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Liquid Hydrogen Market: Competitive Dashboard
14.2 Global Liquid Hydrogen Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Linde
14.3.2 Air Products and Chemicals
14.3.3 Air Liquide
14.3.4 Taiyo Nippon Sanso
14.3.5 Air Water
14.3.6 Messer
14.3.7 Gulf Cryo
14.3.8 Yingde Gases
14.3.9 Kaimeite Gases
14.3.10 Showa Denko
14.3.11 Koatsu Gas Kogyo
14.3.12 Iwatani
