Global Liquid Hydrogen Market Size, Share, Opportunities, And Trends By End Use Industry (Aerospace, Automotive and Transportation, Energy and Power, Industrial Sector, Others), By Distribution (Pipelines, Cryogenic Tanks, Others), And By Geography - Forecasts From 2025 To 2030

The global liquid hydrogen market is expected to grow at a CAGR of 7.54%, reaching a market size of US$45.83 billion in 2030 from US$31.87 billion in 2025.

 Liquid hydrogen (LH2) is hydrogen in its liquid state, achieved by cooling hydrogen gas to extremely low temperatures. Multiple factors have driven the market for liquid hydrogen. It is used primarily as a fuel in aerospace, transportation, and industrial processes. With the growing demand for green transportation, the need for innovative technologies like liquid hydrogen used in the vehicle would rise.

Collaborations between key players, energy companies, technology providers, and industrial users are accelerating the development and adoption of liquid hydrogen technologies. The adaptation of hydrogen technologies and global hydrogen supply chains has also been increasing due to government support and policies.

The EU adopted a strategy on hydrogen (COM/2020/301) in 2020 and policy action points in 5 areas: investment support, support production and demand, creating a hydrogen market and infrastructure, research and cooperation, and international cooperation. The EU planned to develop renewable hydrogen to produce 10 million tonnes and import 10 million tonnes by 2030.

What are the global liquid hydrogen market drivers?

• Growing demand for liquid hydrogen for space exploration

Liquid hydrogen has been used in space missions for decades as rocket fuel. It has a high energy density and efficient combustion, making it ideal for powering spacecraft.

NASA has relied on liquid hydrogen to propel its rockets into space. To support the fueling of NASA’s SLS rocket, Kennedy’s EGS Program built the liquid hydrogen storage tank at Pad 39B. The SLS core stage and in-space stage required 730,000 gallons of liquid hydrogen and liquid oxygen to fuel the four-core stage and single upper-stage engine. The growing space programs from different nations like India, China, UAE, Saudi Arabia, etc., are leading to the demand for space fuel in large quantities like liquid hydrogen.

• Increasing adoption of hydrogen fuel cells in commercial vehicle

The development of long-haul and heavy-duty transportation within the hydrogen ecosystem is the key end-use of liquid hydrogen. The energy carrier has a far higher energy density about volume than gaseous hydrogen. Thus, the tanks of a fuel-cell truck using liquid hydrogen are more cost-efficient compared to the carbon tanks used for gaseous hydrogen. Due to the lower pressure, they are also significantly lighter.

In August 2023, Hyzon Motors Inc. and Performance Food Group, Inc. announced the successful completion of Hyzon's first commercial run with a liquid hydrogen fuel cell electric vehicle (LH2 FCEV).  TX, the truck completed deliveries to eight PFG customers near Dallas, TX, traveling over 540 miles on a 16-hour continuous run, including over 100-degree Fahrenheit temperatures. This showcased the increased range and no added weight in comparison to gaseous hydrogen trucks.

Further, in July 2024, Daimler Truck and Linde Engineering presented sLH2, a jointly developed refueling technology for subcooled liquid hydrogen. Daimler Truck and Linde Engineering tried to establish sLH2 as a common refueling standard for hydrogen-powered trucks and make the technology available to all interested parties via an ISO standard. The first public sLH2 fuel station was inaugurated in Wörth am Rhein, Germany. Logistics would also use this for initial customer trials with the Mercedes-Benz GenH2 Truck from mid-2024.

These innovative technologies in subcooled liquid hydrogen considerably increase the efficiency of hydrogen refueling systems. These would pave the way for the development of a robust liquid hydrogen refueling network, which is essential to keep vehicles moving and supply chains intact.

Geographical outlooks of the global liquid hydrogen market:

• The global liquid hydrogen market is segmented into five regions worldwide

By geography, the global liquid hydrogen market is segmented into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. The major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies are from this region, such as ASEAN countries.

The Asia Pacific region is expected to see the fastest growth in the global liquid hydrogen market due to increasing applications in various industrial processes, from refining metals to producing ammonia for fertilizers. North America is expected to have a significant global liquid hydrogen market share due to hydrogen-powered vehicles becoming more common.

• Major products in the global liquid hydrogen market:

New York Green Hydrogen Facility. – New York Green Hydrogen Facility by Air Products operates a 35-metric-ton-per-day facility to produce green liquid hydrogen. This is also a liquid hydrogen distribution and dispensing operation. This was an investment of $500 million.

Hydrogen Liquefaction - Air Liquide Engineering & Construction offers several proprietary technologies, including expansion turbines, heat exchangers, advanced insulation cold boxes, and a range of standard H2 liquefiers. An increase in hydrogen liquefaction would support the transition to a low-carbon future. The company has experience in designing, engineering, and operating ultra-low-temperature liquefaction plants. The company is working on the next generation of H2 liquefiers, which are larger than 100 tpd, for large liquid hydrogen export projects.

Key developments in the global liquid hydrogen market:

The global liquid hydrogen market leaders are Air Liquide, Air Products and Chemicals, Inc., Iwatani Corporation, Linde PLC, Messer Group GMBH, Nippon Sanso Holdings Corporation, and Cryolor. These key players implement growth strategies such as product launches, mergers, acquisitions, etc., to gain a competitive advantage. For Instance,

• In May 2024,  Airbus launched an innovative aviation hydrogen handling and refueling project with academic partners, airport operators, and leading hydrogen industry companies. The company demonstrates small-scale liquid hydrogen aircraft ground operations at three European airports. The project is named GOLIAT (Ground Operations of LIquid Hydrogen AircrafT). It would receive €10.8 million in funding from the EU’s Horizon Europe Framework Programme via CINEA, the European Climate, Infrastructure and Environment Executive Agency. The duration of the project is four years. This would demonstrate high-flow liquid hydrogen (LH2) handling and refueling technologies for airport operations. The group would support the aviation industry’s adoption of LH2 transportation and energy storage solutions by developing the standardization and certification framework for future LH2 operations and assessing the sizing and economics of the hydrogen value chains for airports.
• In March 2024, the Federal Institute for Materials Research and Testing (BAM) worked on a pioneering storage concept for liquid hydrogen. The aim was to increase the capacity of suitable tanks by a factor of forty and simultaneously reduce costs by 80 percent.
• In February 2024, Plug Power Inc. started operating its hydrogen plant in Charleston, Tennessee. This would add about ten tons per day (TPD) of liquid hydrogen supply back onto the U.S. market. The company implemented design improvements to enhance overall plant efficiency. Plug Power Inc. is a key player in comprehensive hydrogen solutions for the green hydrogen economy.  Plug’s cryogenic trailer fleet would deliver liquid hydrogen from the Tennessee plant to customers throughout North America. This liquid hydrogen would be used in material handling operations, fuel cell electric vehicle fleets, and stationary power applications. The company expected its joint venture plant in Louisiana to be operational in the third quarter of 2024, adding another 15 TPD of liquid hydrogen capacity to the market.
• In February 2024, Universal Hydrogen Co. successfully ran a megawatt-class fuel cell powertrain using its proprietary liquid hydrogen module to supply the fuel. This is the largest fuel cell powertrain to run on liquid hydrogen. The liquid hydrogen module powered the company’s “iron bird” ground test rig for over 1 hour and 40 minutes. It holds fuel to power the iron bird for over three hours at full power with two such modules. The iron bird is a functional analog of the powertrain that Universal Hydrogen has been flight testing. It is developed at Universal Hydrogen’s engineering and design center in Toulouse, France. The module contains ~200 kilograms of liquid hydrogen and is capable of storing it for long durations.

The global liquid hydrogen market is segmented and analyzed as follows:

• By End Use Industry
  • Aerospace
  • Automotive and Transportation
  • Energy and Power
  • Industrial Sector
  • Others
• By Distribution
  • Pipelines
  • Cryogenic Tanks
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Growing demand for liquid hydrogen for space exploration

4.1.2. Increasing adoption of hydrogen fuel cells in commercial vehicle 

4.1.3. Rising investments and innovations

4.2. Market Restraints

4.2.1. High cost of handling and storage 

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. GLOBAL LIQUID HYDROGEN MARKET BY END-USE INDUSTRY 

5.1. Introduction

5.2. Aerospace

5.3. Automotive and Transportation

5.4. Energy and Power

5.5. Industrial Sector

5.6. Others

6. GLOBAL LIQUID HYDROGEN MARKET BY DISTRIBUTION

6.1. Introduction

6.2. Pipelines

6.3. Cryogenic Tanks

6.4. Others

7. GLOBAL LIQUID HYDROGEN MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES 

9.1. Air Liquide

9.2. Air Products and Chemicals, Inc.

9.3. Iwatani Corporation 

9.4. Linde PLC

9.5. Messer Group GMBH

9.6. Nippon Sanso Holdings Corporation

9.7. Cryolor

9.8. Hylium Industries, Inc.

9.9. Demaco 

9.10. INOX India Limited

9.11. Plug Power Inc.

Air Liquide

Air Products and Chemicals, Inc.

Iwatani Corporation 

Linde PLC

Messer Group GMBH

Nippon Sanso Holdings Corporation

Cryolor

Hylium Industries, Inc.

Demaco 

INOX India Limited

Plug Power Inc.