USD 41.2 billion
Report ID:
SQMIG10F2031 |
Region:
Global |
Published Date: July, 2025
Pages:
193
|Tables:
121
|Figures:
72
Global Liquid Hydrogen Market size was valued at USD 41.2 billion in 2023 and is poised to grow from USD 43.51 billion in 2024 to USD 67.28 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).
Rapid technological advancements, government subsidies for clean fuels and changes in energy policies are driving the global liquid hydrogen market growth. Decarbonization and the construction of hydrogen infrastructure are top priorities for future governments worldwide, with a particular focus on liquid hydrogen for use in large-scale energy storage, transportation and aircraft.
A few technological advancements have led to the growth of the liquid hydrogen industry worldwide. The cost and energy intensity of hydrogen liquefaction have been greatly decreased by advanced liquefaction techniques and AI-driven process optimization increasing its commercial viability. Due to the growth of modular hydrogen production units and the construction of green hydrogen plants, that use renewable energy, the market is moving towards sustainable hydrogen ecosystems in 2024.
Why Is AI Integration Essential for the Next-Gen Liquid Hydrogen?
The global liquid hydrogen market outlook is changing as artificial intelligence (AI) plays a key role in streamlining the production, distribution and storage of liquid hydrogen. To improve system efficiency, safety and return on investment, AI-powered platforms examine data such as, energy demand projections, the availability of renewable energy, cryogenic storage performance and transportation logistics.
For instance, the Chubu region of Japan, installed AI-integrated hydrogen refueling hubs in 2024 and 2025. These hubs automatically modify storage pressure and liquefaction rates in response to real-time vehicle inflow and ambient temperature. Like this, an AI-enabled hydrogen plant in Germany that was inaugurated in March 2025 monitors cryogenic tanks, looks for irregularities and minimizes energy loss during storage and transfer by using sensor-driven analytics and predictive maintenance.
Market snapshot - 2025-2032
Global Market Size
USD 41.2 billion
Largest Segment
Grey Hydrogen
Fastest Growth
Green Hydrogen
Growth Rate
5.6% CAGR
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Global Liquid Hydrogen Market is segmented by Production Method, Distribution Method, End Use and region. Based on Production Method, the market is segmented into Coal Gasification, SMR and Electrolysis. Based on Distribution Method, the market is segmented into Pipelines and Cryogenic Tanks. Based on End Use, the market is segmented into Transportation, Chemical and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Due to its affordability and pre-existing infrastructure, grey hydrogen continues to be the largest contributor to the world liquid hydrogen supply according to current liquid hydrogen industry analysis. Despite being carbon-intensive, it is still widely used in areas with less developed clean hydrogen frameworks. It is made from natural gas using steam methane reforming (SMR). For instance, in parts of North America and Asia, several industrial facilities still rely on grey hydrogen as an interim energy solution until green hydrogen becomes economically viable.
The production method category fastest-growing subsegment is green hydrogen, which is made by electrolysis using renewable energy. Governments and energy companies are making significant investments, in green hydrogen plants in response to growing pressure to lower carbon emissions. One prominent instance is the NEOM project in Saudi Arabia, which plans to export liquid hydrogen worldwide and become the largest green hydrogen hub in the world by 2026.
Given its long-standing use of liquid hydrogen as a rocket propellant, the aerospace industry, currently controls the largest share of the global liquid hydrogen market. Since liquid hydrogen has a high energy density and burns cleanly space agencies like NASA and businesses like SpaceX and Blue Origin continue to use it for high-thrust, deep-space missions.
The market for liquid hydrogen is expanding at the fastest rate in the mobility segment, which includes hydrogen-powered trucks, buses, trains and fuel-cell electric vehicles (FCEVs). Mobility is a major factor in the future of the liquid hydrogen market growth since governments around the world are funding infrastructure for hydrogen refueling and promoting zero-emission transportation.
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Asia-Pacific dominates the global liquid hydrogen regional outlook, holding the largest market share in terms of production, consumption, and infrastructure development, according to the regional outlook for 2024. Japan, South Korea, China, and Australia are among the nations making significant investments in cryogenic storage and transportation systems, liquid hydrogen facilities, and electrolyzes powered by renewable energy sources. In 2025, Japan launched the world first commercial-scale liquid hydrogen cargo ship and South Korea expanded its urban hydrogen mobility plan with citywide liquid hydrogen stations in Seoul, Busan and Ulsan.
China is rapidly scaling up liquid hydrogen deployment across industrial zones and clean energy hubs. Several state-owned companies and startups are investing in large-scale hydrogen production via solar and wind-powered electrolysis. In 2025, the Yunnan Hydrogen Corridor project began liquefying green hydrogen for export and use in electric cargo trains, demonstrating China's commitment to hydrogen dominance.
With a focus on liquid hydrogen for export and transportation, South Korea has made rapid progress on its hydrogen roadmap. The largest liquid hydrogen production facility in Asia was unveiled in 2025 by Hyosung and Linde Korea, and it will supply hydrogen to local fleets as well as export to nearby areas. By 2030, the government plans to have 70 liquid hydrogen stations and 30,000 hydrogen-powered commercial vehicles.
As per liquid hydrogen market outlook, North America is emerging as the fastest-growing region in the global liquid hydrogen market. This acceleration is fueled by ambitious clean energy mandates, large-scale hydrogen infrastructure funding, and corporate adoption of hydrogen-based mobility and energy storage. In the U.S., the Department of Energy’s Hydrogen Shot Initiative has led to several liquid hydrogen pilot projects in transportation, aerospace and industrial decarbonization.
The U.S. market is driving growth through a mix of public-private partnerships and clean hydrogen incentives. The construction of liquid hydrogen corridors for long-haul trucks across Interstates 5 and 95, which was made possible by funding from the Bipartisan Infrastructure Law is a noteworthy example. To satisfy demand both domestically and internationally new liquefaction facilities are also expanding in Texas and California.
Canada is experiencing rising interest in liquid hydrogen as part of its Net-Zero Emissions by 2050 plan. Hydro-powered electrolysis is being used in projects in British Columbia and Quebec to produce green hydrogen, which is then liquefied for use in fuel cell buses, trains and international shipping. Canada has a competitive advantage in becoming a major supplier of liquid hydrogen to both North America and Europe because of its advantageous location and wealth of renewable energy.
Europe is closely trailing North America due to its drive for a hydrogen-centric energy transition. The region is quickly improving its infrastructure for production, storage and distribution with initiatives like France's liquefied hydrogen-powered transportation pilots and Germany's Hydrogen Backbone. The European Hydrogen Bank, announced subsidies for mobile cryogenic tankers and liquid hydrogen terminals in 2025 with the goal of promoting decentralized energy storage, shipping, and aerospace throughout the European Union.
The UK market is focused on transitioning its industrial clusters and transport corridors to hydrogen. The Teesside Hydrogen Hub started producing liquid hydrogen for regional fuel cell buses and ferries in 2024 as a pilot project. In keeping with the nation's zero-emissions targets National Grid Hydrogen also revealed plans to incorporate liquid hydrogen into energy storage facilities and backup power systems.
Germany is leading the European push for liquid hydrogen. Through partnerships with Siemens Energy, Linde, and BMW the country is investing in massive liquefaction plants and refueling networks. In 2025, Hamburg's automated liquid hydrogen storage terminal went online, providing safe and scalable solutions for transportation and stationery applications.
France continues its innovation in aerospace-focused hydrogen use. Air Liquide’s expansion into liquid hydrogen mobility is supporting public buses and even hydrogen-powered metro prototypes. The 2024 Paris Olympics showcased liquid hydrogen refueling stations, which are now being expanded to serve other urban transit zones.
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Liquid Hydrogen for Space Travel
Developments in Hydrogen Infrastructure
High Production and Liquefaction Costs
Challenges with Storage and Transportation
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There is fierce competition among regional and international companies, in the liquid hydrogen market that are committed to sustainability and innovation. Important businesses are making significant investments, in liquefaction systems electrolysis technology and cryogenic storage advancements to obtain a competitive advantage. Strategic actions like joint ventures and mergers and acquisitions, are assisting businesses in expanding their hydrogen portfolios across industries like power generation, mobility and aerospace, strengthening supply chains and speeding up market entry. As high-performing companies aim to lead not only through capacity but also by influencing standards, safety advancements, and next-generation hydrogen delivery systems, these liquid hydrogen market strategies are setting the stage for long-term success.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the growing demand for clean energy, decarbonization initiatives and improvements in hydrogen infrastructure are all driving the global market for liquid hydrogen. Due to its high energy density and capacity for long-distance transportation liquid hydrogen is perfect for heavy mobility, shipping and aerospace applications. Significant investments in cryogenic storage, liquefaction technologies and green hydrogen production, are improving scalability and lowering operational difficulties. While Asia-Pacific continues to be a crucial center for innovation North America is the region with the fastest rate of growth. Market penetration is being accelerated by smart logistics networks hydrogen corridors and public-private partnerships. Liquid hydrogen is emerging as a key facilitator of the global transition to a low-carbon future as nations commit to net-zero goals.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 41.2 billion |
Market size value in 2032 | USD 67.28 billion |
Growth Rate | 5.6% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Liquid Hydrogen Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Liquid Hydrogen Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Liquid Hydrogen Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liquid Hydrogen Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Global Liquid Hydrogen Market size was valued at USD 41.476 Billion in 2023 and is poised to grow from USD 43.796 Billion in 2024 to USD 67.545 Billion by 2032, growing at a CAGR of 5.60% in the forecast period (2025-2032).
There is fierce competition among regional and international companies, in the liquid hydrogen market that are committed to sustainability and innovation. Important businesses are making significant investments, in liquefaction systems electrolysis technology and cryogenic storage advancements to obtain a competitive advantage. Strategic actions like joint ventures and mergers and acquisitions, are assisting businesses in expanding their hydrogen portfolios across industries like power generation, mobility and aerospace, strengthening supply chains and speeding up market entry. As high-performing companies aim to lead not only through capacity but also by influencing standards, safety advancements, and next-generation hydrogen delivery systems, these liquid hydrogen market strategies are setting the stage for long-term success. 'Air Products and Chemicals, Inc.', 'Air Liquide', 'Chart Industries', 'ENGIE', 'GE Appliances', 'GENH2', 'INOX India Limited', 'Iwatani Corporation', 'Kawasaki Heavy Industries, Ltd.', 'Linde plc', 'Messer', 'Plug Power Inc.', 'Praxair Technology, Inc.', 'Salzburger Aluminium Group', 'Shell plc'
The increasing investment in space program further supports the need for liquid hydrogen. With nations like India, successfully testing cryogenic engines for missions like Chandrayaan-3 space agencies around the world are increasing their launch capabilities. The industry dedication to sustainable space exploration is demonstrated by the European Space Agency announcement of its, new rocket launcher, Ariane 6, which switches from grey to green hydrogen while preserving the vital role that, liquid hydrogen plays in propulsion systems.
Including Green Hydrogen in Supply Chains for Liquefaction: The incorporation of green hydrogen generated through electrolysis powered by renewable resources into liquefaction and distribution networks is a significant trend revolutionizing, the liquid hydrogen market. Countries are investing in environmentally friendly hydrogen hubs where large-scale hydrogen production is powered by renewable energy sources (such as solar and wind) and liquefied on-site, because of the acceleration of global decarbonization goals.
Why Is Global Liquid Hydrogen Market Dominating by Asia-Pacific?Asia-Pacific dominates the global liquid hydrogen regional outlook, holding the largest market share in terms of production, consumption, and infrastructure development, according to the regional outlook for 2024. Japan, South Korea, China, and Australia are among the nations making significant investments in cryogenic storage and transportation systems, liquid hydrogen facilities, and electrolyzes powered by renewable energy sources. In 2025, Japan launched the world first commercial-scale liquid hydrogen cargo ship and South Korea expanded its urban hydrogen mobility plan with citywide liquid hydrogen stations in Seoul, Busan and Ulsan.
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Report ID: SQMIG10F2031
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