Liquid Hydrogen Market Size - By Production Method (Coal Gasification, SMR), By Distribution Method (Pipelines, Cryogenic Tanks), By End Use (Transportation, Chemical, Metals) & Forecast, 2024 - 2032

Liquid Hydrogen Market size is set to grow at 6.1% CAGR from 2024 to 2032 due to the expanding collaborations and increasing new launches.

Organizations and research institutions are working together to advance technologies related to liquid hydrogen production, storage, and utilization. These collective efforts are enhancing efficiency and reducing costs associated with liquid hydrogen for making it a more viable option for various applications including energy storage and transportation. For instance, in May 2024, Airbus in collaboration with industry leaders and academic partners introduced an innovative project for aviation hydrogen handling and refueling to showcase small-scale liquid hydrogen-based aircraft ground operations at three European airports. This initiative helped to advance the use of hydrogen fuel in aviation.

The liquid hydrogen industry is segmented into production method, distribution method, end use, and region.

The market share from the coal gasification production method segment will record a decent CAGR between 2024 and 2032. This is due to the strong need to enhance the scalability and economic feasibility of coal gasification for hydrogen production. This technique involves converting coal into synthesis gas through high-temperature reactions. The synthesis gas is then processed to extract hydrogen. Consequently, coal gasification is helping in meeting the growing demand for liquid hydrogen for supporting its use in various energy and industrial applications.

In terms of distribution method, the liquid hydrogen market from the pipeline segment is anticipated to witness a significant CAGR from 2024-2032, driven by rising need for facilitating a more sustainable and efficient hydrogen supply chain. The pipeline distribution method involves the continuous flow of hydrogen through a network of pipelines to maintain high pressure and minimize leakage. Continuous developments are introducing more resilient materials and advanced monitoring systems for further optimizing the transport of hydrogen.

North America liquid hydrogen industry size will record significant CAGR through 2032 due to the rising government and regulatory support. Policies and incentives in North America are promoting the use of liquid hydrogen for facilitating research and investment in production, storage, and distribution technologies. This ongoing support is driving innovations and increasing the role of liquid hydrogen in achieving energy transition goals and reducing carbon emissions in the region.