The global Liquid Hydrogen Market is forecasted to be worth USD 50.39 Billion by 2027, according to a current analysis by Emergen Research. Over the forecasted timeframe, the global market for liquid hydrogen is forecasted to grow substantially owing to the growing demand for less oil and diesel dependency in terms of fuel. The rising government concern regarding environmental pollution and initiatives to reduce the emission level is also anticipated to drive the market growth during the forecasted timeline. Furthermore, the increasing application of liquid hydrogen to run trains is expected to further fuel the market growth in the near future. For, instance Germany has introduced the world's first train driven by hydrogen, revealing the beginning of an initiative to counter the role of polluting diesel trains with more expensive yet environmentally friendly technologies. The hydrogen trains are configured with fuel cells that generate electricity via a hydrogen and oxygen solution, the only pollution leaving water and steam. Excess energy is deposited on the train in lithium-ion batteries.
The study is a professional probe into the revenue generated and capacity estimates for the Liquid Hydrogen market for the forecast period 2020 - 2027 empower the business owners to maintain a competitive edge over their rivals. The research further examines and provides data on the market by type, application and geography interspersed with illustrations and other graphical representations. The market analysis not only determines the attractiveness of the industry but also the evolving challenges and opportunities and their association with the weaknesses and strengths of prominent market leaders. Other factors taken into consideration when studying the industry include profitability, manufacturing capability, distribution channels and industry cost structure and major success factors.
Key Highlights From The Report
In June 2020, Giner ELX, Inc. acquired by Plug Power Inc. The deal will boost the total green hydrogen supply capability of Plug Power and increase the serviceable addressable market of Plug Power, supporting the optimistic green hydrogen targets of the organization to move from low-carbon to zero-carbon hydrogen solutions.
Based on the method, the market is expected to lead by the steam reforming segment over the forecast timeline. This method offers a reliable, effective, and widely used hydrogen production process.
Over the forecasted period, the pipeline segment is anticipated to hold the largest market with a CAGR of 5.7%. For the energy supply purpose, the pipeline networks are a convenient way to supply liquid hydrogen.
During the forecasted timeframe, the automotive segment is anticipated to dominate the market. The propulsion of fuel cell vehicles with liquid hydrogen is purely electronic.
As most space research organizations in the North America region, use liquid hydrogen as a fuel for space exploration, the North American market is expected to dominate the market.
Key participants include The Messer Group GmbH, Showa Denko K. K., Ballard Power Systems Inc., Air Products and Chemicals, Inc., Iwatani Corporation, Linde PLC, FuelCell Energy, Inc., Koatsu Gas Kogyo Co., Ltd., Taiyo Nippon Sanso Corporation, and Plug Power Inc. among others.
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