Market Size of Asia Pacific Liquid Hydrogen Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Liquid Hydrogen Market Analysis
The Asia Pacific liquid hydrogen market is expected to register a CAGR of over 5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, increasing investments in liquid hydrogen projects are expected to drive the market's growth.
- On the other hand, higher capital and production costs are expected to hamper the growth of the Asia Pacific liquid hydrogen market during the forecast period.
- Nevertheless, adapting the latest technologies in liquid hydrogen production will likely create lucrative growth opportunities for the solar PV inverters market in the forecast period.
- China dominates the market and will likely witness the highest CAGR during the forecast period. This growth is attributed to increasing investments and supportive government policies.
APAC Liquid Hydrogen Industry Segmentation
Liquid hydrogen is the liquid state of the element hydrogen. Hydrogen is most commonly transported and delivered as a liquid when high-volume transport is needed in the absence of pipelines. Liquefying hydrogen must be cooled to cryogenic temperatures through a liquefaction process. The Asia Pacific liquid hydrogen market is segmented by distribution, end-use industry, and geography. By distribution, the market is segmented into containers and tanks. By end-use industry, the market is segmented into automotive, chemicals and petrochemicals, aerospace, metallurgy, and other end-use industries. The report also covers the market size and forecasts for the Asia Pacific liquid hydrogen market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| Distribution | |
| Containers | |
| Tanks |
| End-use Industry | |
| Automotive | |
| Chemicals and Petrochemicals | |
| Aerospace | |
| Metallurgy | |
| Other End-use Industries |
| Geography | |
| China | |
| India | |
| Japan | |
| Singapore | |
| Rest of Asia-Pacific |
Asia Pacific Liquid Hydrogen Market Size Summary
The Asia Pacific liquid hydrogen market is poised for significant growth, driven by increasing investments in liquid hydrogen projects and the rising demand for clean fuel, particularly in the automotive sector. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. China stands out as a dominant force in this market, benefiting from substantial investments and supportive government policies. The country's extensive network of hydrogen fuel stations and its strategic initiatives in hydrogen vehicle deployment underscore its leadership. Despite challenges such as high capital and production costs, the adoption of advanced technologies in liquid hydrogen production is expected to create promising opportunities for market expansion.
The automotive industry is anticipated to be a major driver of the liquid hydrogen market in the Asia Pacific region, with the potential to significantly reduce carbon emissions from vehicles. The use of liquid hydrogen as a secondary energy source in vehicles, coupled with technologies like Proton Exchange Membrane fuel cells, highlights its environmental benefits. China's ambitious plans for hydrogen fuel-cell vehicles and its growing aerospace sector further bolster the demand for liquid hydrogen. The market is moderately consolidated, with key players like Air Liquide S.A., Linde plc, and Air Products and Chemicals Inc. actively participating in the region's development. Recent developments, such as the launch of large-scale liquid hydrogen storage solutions, indicate ongoing efforts to support the market's growth trajectory.
Asia Pacific Liquid Hydrogen Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, till 2027
-
1.3 Recent Trends and Developments
-
1.4 Government Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply Chain Analysis
-
1.7 Porter's Five Forces Analysis
-
1.7.1 Bargaining Power of Suppliers
-
1.7.2 Bargaining Power of Consumers
-
1.7.3 Threat of New Entrants
-
1.7.4 Threat of Substitute Products and Services
-
1.7.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION
-
2.1 Distribution
-
2.1.1 Containers
-
2.1.2 Tanks
-
-
2.2 End-use Industry
-
2.2.1 Automotive
-
2.2.2 Chemicals and Petrochemicals
-
2.2.3 Aerospace
-
2.2.4 Metallurgy
-
2.2.5 Other End-use Industries
-
-
2.3 Geography
-
2.3.1 China
-
2.3.2 India
-
2.3.3 Japan
-
2.3.4 Singapore
-
2.3.5 Rest of Asia-Pacific
-
-
Asia Pacific Liquid Hydrogen Market Size FAQs
What is the current Asia Pacific Liquid Hydrogen Market size?
The Asia Pacific Liquid Hydrogen Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Asia Pacific Liquid Hydrogen Market?
Air Liquide S.A, Linde plc, Air Products and Chemicals Inc., Ballard Power Systems. and Iwatani Corporation are the major companies operating in the Asia Pacific Liquid Hydrogen Market.
