Skip to main content

Key Trends Influencing the Growth of Liquid Hydrogen Market


Owing to the urgent need for reducing energy-related CO2 emission, the demand for alternative fuels and gases, which help in reducing these emissions, is on the rise. Liquid hydrogen is one such source of energy. With the use of hydrogen, economies can significantly contribute to the decarbonization in the atmosphere. The process of decarbonization of energy is one of the major drivers of the market.

At present, liquid hydrogen is in demand for its wide ranging applications, including high level of purity. It is commonly being used across end-use industries, including transportation, electronics, refining, chemicals, metals, glass, and others. Liquid hydrogen is also used in large volumes in the space industry as rocket fuel for combustion and as a propellent for space vehicles and nuclear-powered rockets.

In addition, liquid hydrogen is used to avert oxidation and decrease the use of metal oxides during heat treatment of certain alloys and metals. It is used as a raw material for several chemical processes varying from the production of polypropylene and high-density polyethylene to the hydrogenation of food-grade oils.

It has been noted that hydrogen has the ability to achieve emission maintaining targets with the help of decarbonization across sectors. It also plays a pivotal role by being an interim in the process of boosting energy system resilience, dispensing clean feedstock for industry, allowing large-scale renewable energy incorporation and power generation, as well as decarbonizing of transportation and industrial use of energy.

Some of the other factors driving the growth of the market include growing emphasis on reduction of fossil fuel emissions, constant fluctuations in the price of gasoline, and higher efficiency of liquefaction. However, there are certain factors that are restraining the growth of the market, including high cost of transporting liquid hydrogen, difficulty in storing liquid hydrogen on a large scale, and safety concerns in using liquid hydrogen.

Based on the market intelligence published by BIS Research, “Global Liquid Hydrogen Market - Analysis and Forecast, 2019-2024”, the liquid hydrogen market generated a volume of 116.1 kilotons in 2018 and is projected to grow at a CAGR of 5.66% during the forecast period from 2019 to 2024, on the basis of volume. The market is anticipated to reach 161.5 kilotons by 2024.

Some of the major players operating in the global liquid hydrogen market, as highlighted in the BIS Research report include Linde Plc, Air Products And Chemicals, Inc., Air Liquide, Iwatani Corporation, The Andhra Sugars Limited, TAIYO NIPPON SANSO CORPORATION, Kawasaki Heavy Industries, Ltd., United Hydrogen, And Elme Messer Gaas AS.

Request for a sample of the report: https://bisresearch.com/requestsample?id=760&type=download

Labels:

Comments

Post a Comment

Popular posts from this blog

Farm Management Software and Data Analytics Market Future Prospects And Competitive Analysis 2020-2026

The growth in the global farm management software and data analytics market is expected to be driven by increasing demand for agricultural mechanization and automation along with increasing average farm size in certain countries such as Australia and Canada. Report Preview is available at: https://bisresearch.com/industry-report/global-farm-management-software-data-analytics-market.html Farm management software and data analytic solutions not only offer increased transparency in the agricultural field but also decrease the chances of pest attack and crop failure. Increased agricultural production will help in catering to the growing population and uplifting the global agricultural industry. A major factor driving the farm management software and data analytics market is the increase in government initiatives and support toward agricultural digitization. Government initiatives increase the awareness regarding the farm management software and the benefits these solutions entail when appl...
Post a Comment
Read more

Intelligent Lighting Controls Market Report

The report constitutes an extensive study of intelligent lighting controls market. It includes a thorough analysis of different component types as well as different connection types used in the intelligent lighting controls. Intelligent lighting controls market has further been segmented in terms of application which helps in understanding the behavior of different verticals in using intelligent lighting controls. It further explains the driving forces, challenges and growth opportunities of the intelligent lighting controls market. Major players have been identified on the basis of revenue generation, geographical presence and developments related to intelligent lighting controls. A detailed company profiling has been done in order to understand the player’s strategic behavior. The intelligent lighting controls market is further explained and analyzed on the basis of geography. The geographical analysis has been categorized into four regions namely: North America, Europe, Asia-Pa...
Post a Comment
Read more

Liquid Biopsy, North America, and Lung Cancer Occupying a Major Share in the Market

  Owing to the market availability of large number of liquid biopsy technologies, the liquid biopsy segment currently accounts for a dominating share in the global minimally invasive biopsy technologies market . However, the market growth in the segment can be attributed to the increasing demand for liquid biopsy and the strong product pipeline. For instance, CNI Second Opinion by Chronix Biomedical is presently under development and is expected to get launched during the forecast period 2019-2030. Owing to a widespread market presence of leading players and the huge prevalence of cancer, North America presently holds a major share in the global minimally invasive biopsy technologies market. According to the World Cancer Research Fund (WCRF), with an estimated 2 million cases in 2018, lung cancer is the most commonly occurring cancer in men and third-most commonly occurring cancer in women. Due to the widespread presence of cancer, the manufacturers including Biocept, Inc., Chron...
Post a Comment
Read more