Liquid Hydrogen Market Share, Growth Analysis and Revenue | IMR
Liquid Hydrogen Market Size Was Valued at USD 41.1 Billion in 2023, and is Projected to Reach USD 66.5 Billion by 2032, Growing at a CAGR of 5.5% From 2024-2032.
Mac Watson
Liquid hydrogen is the liquid phase of the hydrogen in particular or hydrogen gas at conditions of effective temperature. Hydrogen is in the state of gas at the normal conditions of temperature or heat and pressure, but when put in a cryogenic temperature of the order of 253 degree Kelvin or 423 degrees Fahrenheit it becomes in the liquid state. Liquid hydrogen appears to be pale blue and also is quite transparent.
Water is also the most colorless and odorless liquid of all the liquids known to man, and it has the density of the 70g per liter. It is also very flammable and leaves form a gas when it comes in contact with air. It is easily evaporative due to the presence of low boiling point, and for this, it needs proper prudent storage and handling to retain its liquid state. Liquid hydrogen is also useful in other ways or uses with the largest and probably the most important use being in the manufacture of space rockets and other spacecrafts where it is used in combination with liquid oxygen to form a powerful fuel. Owing to its high energy yield and density it is a good propulsion fuel for space use.
Liquid Hydrogen Market Top Key Players:
Demaco powered by Leapforce, Air Liquide, Cryolor, Hylium Industries, Inc., Plug Power Inc., Messer Group GmbH., Linde Plc, Air Products and Chemicals, Inc., inoxcva, Iwatani Corporation, Other Key Players
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Liquid Hydrogen Market Segment Analysis:
Liquid Hydrogen Market is segmented based on Distribution, and End Use Industry.
By Distribution
· Pipelines
· Cryogenic Tanks
· Others
By End Use Industry
· Aerospace
· Automotive and Transportation
· Energy and Power
· Industrial Sector
· Others
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Liquid Hydrogen Market Regional Insights:
The liquid hydrogen market in the Asia-Pacific region is projected to achieve the highest Compound Annual Growth Rate and expand steadily throughout the forecasted timeframe. 9% during the Forecast period and capture 40% of the Liquid Hydrogen market in 2022. This is demonstrated by elements like the fact that the Chinese Government has provided significant support for hydrogen and fuel cell technologies. In recent years, China has launched various policies and action plans aimed at promoting the development of hydrogen and new energy, including liquid hydrogen. The government has provided financial incentives to attract investment in this sector, alongside funding opportunities and adaptable regulations to encourage the expansion of the liquid hydrogen market.
By Region
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)
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