Liquid hydrogen is one of the most viable energy carriers for the coming future. Stringent government regulations regarding greenhouse gas emissions and pollutants are driving the demand for more sustainable and environment friendly fuels in applications such as aerospace, automotive, and electronics among others. Apart from its “clean burning” properties, liquid hydrogen also meets the desired performance metrics across its end-use applications. Driven by recent technical advances in liquid hydrogen and fuel cell technologies, governments across developed as well as developing nations are escalating their R&D efforts to improve the commercial production and applicability of liquid hydrogen.
Liquid hydrogen can store and distribute reusable energy. However, it doesn’t usually exist separately in its nature, and needs to be produced from compounds that contain the element. Currently, majority of hydrogen is generated from fossil fuels, especially natural gas. Renewable sources such as solar, geothermal, and biomass are also used to produce hydrogen. In the longer run, biomass and solar energy can be used more judiciously to generate hydrogen.
Liquid hydrogen can help tackle various energy challenges by decarbonizing sectors such as chemicals, transportation, metals, and others. The National Aeronautics and Space Administration (NASA) has been actively using liquid hydrogen to propel rockets and space shuttles into orbit since 1970s. A fuel cell combines oxygen and hydrogen to produce heat, electricity, and water. Fuel cells are regularly linked to batteries since both transform the energy produced by a chemical reaction into serviceable electric power.
The market research study offers a wide perspective on liquid hydrogen and analyzes its influence on various end users, by providing critical insights into the direction of its future expansion. The market research study offers a wide perspective of different production method used by liquid hydrogen manufacturers. The report also provides an analysis of the market penetration of liquid hydrogen in different industries and their growth opportunities across different regions as well as countries. The study focuses on the changing landscape of the liquid hydrogen market, owing to the significant developments made by the leading players.
The report is a compilation of various segmentations including market breakdown by distribution method, production method, end use industry, and region. The report highlights the key driving and restraining forces for the market as well as the opportunities and challenges associated with liquid hydrogen. In the extensive primary research process undertaken for this study, the sources include industry experts and key executives from prominent companies and organizations across the liquid hydrogen value chain.
The trends of the liquid hydrogen market vary with different regions. The market holds a prominent share in various countries of North America, Europe, and Asia-Pacific (APAC). The report also provides a country-based analysis for all the leading countries in every region, including the U.S, Germany, China, and Japan, among others. Each regional analysis details an individual push-and-pull force, in addition to the key players and end-use industry in that particular region.
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With the growing population and economic growth, the demand for energy is increasing rapidly. The rise in energy concern owing to growing demand for energy resources from consumers has led to the use of liquid hydrogen in various sectors such as transportation, electronics, chemicals, and others. In addition, high consumption of fossil fuel leads to higher greenhouse gas emissions, mainly carbon-dioxide, which contributes to global warming. Thus, liquid hydrogen plays a key role in decarbonizing the atmosphere. In the 1960s, hydrogen experienced a high degree of proliferation in the space industry, which relied broadly on hydrogen as an energy store. Moreover, in the 1970s due to fluctuation in oil prices and impending energy crises, the exploration began for alternative energy ideas. Issues related to sustainability, environmental protection, and climate protection led to a great degree of attention toward hydrogen as a sustainable and clean energy source.
UPCOMING INDUSTRY TRENDS 