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Liquid Hydrogen Market Size

Report ID: GMI5996
Published Date: Jun 2023
Report Format: PDF

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Liquid Hydrogen Market Size

Liquid Hydrogen Market size surpassed USD 39.7 billion in 2023 and is expected to grow at 7% CAGR from 2024 to 2032. Longstanding potential as a clean energy and ongoing government initiatives for scaling up the existing hydrogen infrastructure will augment the industry statistics. The global market for hydrogen is anticipated to reach USD 317 billion by 2032.

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Liquid Hydrogen Market Report Attributes
Report Attribute	Details
Base Year:	2023
Liquid Hydrogen Market Size in 2023:	USD 39.7 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	7%
2032 Value Projection:	USD 68.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	200
Tables, Charts & Figures:	419
Segments covered:	Distribution, Production, End-Use, Region
Growth Drivers:	Shifting trends towards decarbonization Growing focus on alternative fuels Increasing demand for liquid hydrogen in automobile sector
Pitfalls & Challenges:	High cost associated to transportation

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Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of liquid hydrogen exceeded USD 39.7 billion in 2023 and will register 7% CAGR during 2024 to 2032 owing to the longstanding potential as a clean energy and ongoing government initiatives for scaling up the existing hydrogen infrastructure.

Coal gasification production segment is set to witness 4.1% growth from 2023-2032 due to negligible release of greenhouse gas while production in conjunction with versatility to be used in various applications including industrial processes, energy storage, hydrogen fuel cell vehicles, etc.

Asia Pacific liquid hydrogen business is poised to attain 4.4% gains between 2023 and 2032, backed by the paradigm shift toward energy conservation coupled with growing demand for hydrogen as a fuel across chemical and industrial processes.

Air Products and Chemicals, Inc., Shell plc, Air Liquide, Linde plc, Messer, Iwatani Corporation, Chart Industries, Kawasaki Heavy Industries, Ltd., INOX India Limited, GENH2, Praxair Technology, Inc., and Salzburger Aluminium Group among others.