Liquid Hydrogen Market Projected To Reach US$45.83 Billion By 2030 At A Significant CAGR Of 7.54%

(MENAFN- EIN Presswire)

The global liquid hydrogen market is expected to grow at a CAGR of 7.54%, reaching a market size of US$45.83 billion in 2030 from US$31.87 billion in 2025.

The global liquid hydrogen market is expected to grow at a CAGR of 7.54%, reaching a market size of US$45.83 billion in 2030 from US$31.87 billion in 2025.” - Knowledge Sourcing IntelligenceNOIDA, UTTAR PRADESH, INDIA, December 31, 2024 /EINPresswire / -- According to a new study published by Knowledge Sourcing Intelligence, the global liquid hydrogen market is projected to grow at a CAGR of 7.54% between 2025 and 2030 to reach USUS$45.83 billion in 2030.

Liquid hydrogen (LH2) is hydrogen in its liquid state, produced by cooling hydrogen gas to extremely low temperatures. The liquid hydrogen market has been driven by a variety of variables. It is primarily utilized as a fuel in aerospace, transportation, and industrial applications. With the growing demand for green transportation, the necessity for novel technologies such as liquid hydrogen in vehicles will increase.

Collaborations among major actors, energy corporations, technology providers, and industrial users are hastening the development and application of liquid hydrogen technologies. Government backing and legislation have also contributed to the increased use of hydrogen technology and worldwide hydrogen supply chains.

Moreover, the EU approved a hydrogen strategy (COM/2020/301) with policy action points in five areas: investment support, support for production and consumption, the establishment of a hydrogen market and infrastructure, research and cooperation, and international cooperation. The EU intended to develop renewable hydrogen to produce 10 million tonnes and import 10 million tonnes by 2030.

Further, liquid hydrogen has served as rocket fuel for space missions. It has a high energy density and efficient burning, making it excellent for use in spacecraft. NASA has used liquid hydrogen to drive its rockets into orbit. The liquid hydrogen storage tank at Pad 39B was created by Kennedy's EGS Program to help power NASA's SLS rocket. The SLS core stage and in-space stage required 730,000 gallons of liquid hydrogen and oxygen to power the four core stages and a single upper-stage engine. The burgeoning space projects of several countries, like as India, China, the UAE, Saudi Arabia, and others, are creating a demand for vast volumes of space fuels like liquid hydrogen.

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The global liquid hydrogen market is segmented by end-user industry into five major categories: Aerospace, automotive and transportation, energy and power, industrial sector, and others. The aerospace industries have recommended that liquid hydrogen be used for a variety of purposes, including airport baggage handling, hydrogen aircraft propulsion, and cryogenic engines in the space sector. Liquid hydrogen acts as fuel for its propulsion applications when combined with the oxidizer, for instance with liquid oxygen, and offers the highest specific impulse or efficiency in terms of propellant use of any known rocket propellant.

Moreover, the tightening legislation in greenhouse gas emissions by various economies would hasten the transition to carbon neutrality in the aviation sector just as air traffic stages a recovery following the pandemic-induced downturn.

The global liquid hydrogen market by distribution category is segmented into pipelines, cryogenic tanks , and others. Demand for cryogenic tanks is likely to rise as industries expand and cryogenic liquids become more widely used. Cryogenic tanks store and transport liquefied gases such as liquid hydrogen, liquid oxygen, and liquefied natural gas (LNG). Cryogenic tanks offer a safe and effective method of storing and transporting cryogenic products. The growth of alternative energy sources, such as hydrogen fuel cells, is increasing the demand for cryogenic tanks.

Based on geography, the Asia Pacific liquid hydrogen market is projected to experience growth over the forecast period due to government support, industrial initiatives, and growing environmental awareness. Strong policies and initiatives as well as expanding industry alliance and joint ventures are going to shape the scenario of the industry. Current technical developments and innovations, along with advanced investments in infrastructure development, will complement the industrial landscape. The growth of hydrogen refuelling infrastructure is also critical to adopting hydrogen vehicles. In addition, countries such as Japan, South Korea, and China are continuously increasing the number of hydrogen refuelling stations, thus favouring the demand for the product.

As a part of the report, the major players operating in the Global liquid hydrogen market that have been covered are, Air Liquide, Air Products and Chemicals, Inc., Iwatani Corporation, Linde PLC, Messer Group GMBH, Nippon Sanso Holdings Corporation, Cryolor, Hylium Industries, Inc., Demaco , INOX India Limited, Plug Power Inc.

The market analytics report segments the Global liquid hydrogen market as follows:

.By End Use Industry

oAerospace
oAutomotive and Transportation
oEnergy and Power
oIndustrial Sector
oOthers

.By Distribution

oPipelines
oCryogenic Tanks
oOthers

.By Geography

.North America

oUnited States
oCanada
oMexico

.South America

oBrazil
oArgentina
oRest of South America

.Europe

oUnited Kingdom
oGermany
oFrance
oItaly
oSpain
oRest of Europe

.Middle East and Africa

oSaudi Arabia
oUnited Arab Emirates
oRest of the Middle East and Africa

.Asia-Pacific

oChina
oIndia
oJapan
oSouth Korea
oTaiwan
oThailand
oIndonesia
oRest of Asia-Pacific

Companies Profiled:

.Air Liquide
.Air Products and Chemicals, Inc.
.Iwatani Corporation
.Linde PLC
.Messer Group GMBH
.Nippon Sanso Holdings Corporation
.Cryolor
.Hylium Industries, Inc.
.Demaco
.INOX India Limited
.Plug Power Inc.

Explore More Reports:

.Hydrogen Fuel Cells Market:
.Green Hydrogen Market:
.Blue Hydrogen Market:

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
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