The liquid hydrogen market is expected to reach $2027 billion worldwide by 50,18, according to analysts at Reports and Data. According to the consulting company, the driving forces include growing concern for the environment and governments' efforts to secure national energy supplies. The desired decarbonization in various industrial sectors is also promoting hydrogen demand, as is the increase in fuel cell electric vehicles in private, commercial and public transport. Another factor is the growing willingness in the shipping and aviation sectors to displace liquid helium.
About 70 percent of the hydrogen produced in the USA is used in oil refineries and almost 20 percent in fertilizer production. There are large hydrogen production facilities in almost every state, the report said. The Asia-Pacific region will lead the market, dominated by China and Japan.
Key companies include Air Liquide, Ballard Power Systems Inc., FuelCell Energy, Inc., Air Products and Chemicals, Inc., Elme Messer Gaas AS, FirstElement Fuel, Inc., Linde PLC, Hydrogenics, Iwatani Corporation and United Hydrogen. Linde's liquid hydrogen technology should have been used at the 2020 Olympic Games in Tokyo. In October 2019, Linde PLC opened the first liquid gas filling station in California/USA. The new facility has three times more capacity than existing hydrogen filling stations in California. Twelve more stations are to follow shortly and ensure the hydrogen supply in this state. California wants to put five million climate-neutral vehicles on the road by 2030.
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