Global Hydrogen Liquefaction Market Size is Expected to Grow to $175.41 Million by 2028

Global Hydrogen Liquefaction Market Overview

According to Global Market Monitor, the global hydrogen liquefaction market size was $133.23 million in 2023 and is expected to grow to $175.41 million by 2028.Hydrogen is one of the most promising energy vectors to assist the low-carbon energy transition of multiple hard-to-decarbonize sectors. As the interest in becoming a hydrogen economy increases, so does the demand for hydrogen.

Liquid Hydrogen is being Widely Considered.

Hydrogen is a potential alternative to fossil fuels and a suitable energy carrier. It is also a very important basic element. In the metallization of carbon nanotubes, hydrogen storage methods, including liquefaction, compression, and adsorption, have been extensively studied. Through the comparative analysis of various hydrogen storage technologies, liquefied hydrogen has a higher volume capacity than compressed hydrogen and is more mature than adsorption technology. Liquid hydrogen is ideal for transporting hydrogen over long distances, and its transportation and storage are essential for large-scale applications of hydrogen, so liquid hydrogen has received a lot of attention.

Developed Countries have Advanced Liquid Hydrogen Technology.

In developed countries such as the United States and Japan, liquid hydrogen technology has been popularized on a large scale, and liquid hydrogen storage and transportation account for 70%. In 2021, the global liquid hydrogen production capacity was around 500 tons/day, of which North America had nearly 20 liquid hydrogen production plants with more than 10 tons/day, accounting for 85% of the global capacity and far ahead of other countries and regions. Companies such as Gardner Cryogenics, Chart, Kawasaki Heavy Industries, and Cryogenmesh represent the forefront of liquid hydrogen storage and transportation.

China Liquid Hydrogen Technology Continues to Develop.

At present, only high-pressure gas hydrogen storage and transportation technology in China is relatively mature. The low-temperature liquid, organic liquid, and solid material hydrogen storage technology are still in their infancy. In November 2021, China officially implemented three national standards for liquid hydrogen, further improving the hydrogen energy standard system, making the development of the liquid hydrogen industry with standards to follow, providing technical specifications for enterprises to establish research and development and production systems, supplying important standard support for guiding the production, storage, and transportation of liquid hydrogen, strengthening the quality management of hydrogen fuel, and promoting the high-quality development of the hydrogen energy industry to accelerate the commercialization of liquid hydrogen.

Drivers	Growing Market of Hydrogen Liquefaction
	Growing Concerns About Decarbonization of the Energy Sector
	Technological Advancements in Hydrogen Production and Storage
Limitations	High Initial Investment for Hydrogen Liquefaction Plant
	TheShortage of Infrastructure
Opportunities	Improvement and Update of Hydrogen Liquefaction Technology
	More Complete Industry Chain