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

Chatbots Increasing Efficiency in Healthcare Market

Chatbots are one of the prominent technologies currently being integrated into the healthcare system. The chatbots are not considered as the SaMD (software as medical device) as they do not participate in clinical decision-making process, rather, they act as the personal healthcare assistant as well as the trainer for its users. Click Here To Get Detailed Description of Chatbots in Healthcare Market The usage of chatbots in the healthcare has gained popularity since 2013, when Babylon Health, the first healthcare chatbot company of the U.K. was launched. The company offered symptom checker chatbot and has started using the same chatbot as a health checker as well. The industry comprises the bot developers, platform providers, content providers, and the interface providers. Since there are no regulatory bodies such as FDA and MHRA directly governing the usage of chatbots, launching the chatbot is convenient for the developers. New start-ups are coming up wit...

Analyzing the Growth and Expansion of the Neurostimulation Devices Market

The global healthcare economic burden, at present, is primarily characterized by major contributors such as chronic pain and neurological disorders. The annual societal cost for chronic pain and neurological disorders accounted for $635 billion and $789 billion respectively in the U.S., in 2014. Opioids are one of the most preferred medicines for the treatment of chronic pain, however, the side-effects associated with opioids have resulted in a decline in their overall usage and sale. Consequently, the increasing cases of neurological disorders and the need for a novel approach for the treatment of such diseases has led to the advent of neuromodulation technologies. The rapid shift of the healthcare industry toward neurostimulation devices from opioids and other conventional treatment techniques can be attributed to the efficient, safe, and targeted approach of neurostimulation devices. BIS Research recently published a market intelligence report titled “ Global Neurostim...

Tilt Rotor Aircraft Market Analysis & Forecast by 2031

The tilt rotor aircraft has been constantly evolving over the years, facing numerous technical difficulties, and had several accidents due to its complex structure and design; the latest technologies such as vectored thrust and ducted fans are being used widely to tackle this problem. Several companies have been trying to enter the market to leverage the market need and increase their market share at a global level by making strategic partnerships with key players and raising funds from venture capitalists. Several private start-ups such as Lilium GmbH, Joby Aviation, Kitty Hawk, Overair have already developed prototypes or are still in the research and development phase to use the advantages of tilt rotor technology for civilian applications such as urban air mobility, cargo, and logistics transportation, and others. Read Report Overview: https://bisresearch.com/industry-report/tilt-rotor-aircraft-market.html The tilt rotor aircraft are initially used in the military and d...

BIS Research ( Business Intelligence and Strategy Research)

Search This Blog