Liquid hydrogen is one of the most viable energy carriers for the coming future. Stringent government regulations regarding greenhouse gas emissions and pollutants are driving the demand for more sustainable and environment-friendly fuels in applications such as aerospace, automotive, and electronics, among others. Apart from its “clean burning” properties, liquid hydrogen also meets the desired performance metrics across its end-use applications. Driven by recent technical advances in liquid hydrogen and fuel cell technologies, governments across developed as well as developing nations are escalating their R&D efforts to improve the commercial production and applicability of liquid hydrogen.
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With the growing population and economic growth, the demand for energy is increasing rapidly. The rise in energy concern owing to the growing demand for energy resources from consumers has resulted in the use of liquid hydrogen in various sectors such as transportation, electronics, chemicals, and others. In addition, the high consumption of fossil fuel leads to higher greenhouse gas emissions, mainly carbon dioxide, which contributes to global warming. Thus, liquid hydrogen plays a key role in decarbonizing the atmosphere. In the 1960s, hydrogen experienced a high degree of proliferation in the space industry, which relied broadly on hydrogen as an energy store. Moreover, in the 1970s, due to fluctuation in oil prices and impending energy crises, the exploration began for alternative energy ideas. Issues related to sustainability, environmental protection, and climate protection led to a great degree of attention toward hydrogen as a sustainable and clean energy source.
Currently, the vast majority of liquid hydrogen is produced from fossils fuels using high-temperature chemical reactions. Large-scale natural gas reforming is presently an economical approach for liquid hydrogen production. Natural gas reforming is a process in which hydrogen is produced from a methane source. However, GHG and air pollutants are limiting the use of steam reforming. Thus, the demand for electrolysis for liquid hydrogen production is gaining momentum. But due to high production costs, this method is still not being widely adopted. Extensive research is being carried out so as to improve efficiencies and reduce the capital cost of electrolysis.
Liquid hydrogen is potentially a vital element for future global energy resources. It is one of the widely available, long-term fuel alternatives for simultaneously tackling environmental quality and energy security. Thus, liquid hydrogen is an essential source for decarbonizing various sectors, including transportation, power generation, and chemical sectors.
The hydrogen fuel cell technology has been pivotal in fulfilling the significantly high energy requirements since its introduction. Liquid hydrogen plays a crucial role in storing energy to improve the portability of different electronic devices such as integrated devices and thin-film solar, among others. Therefore, huge investments, along with intensive R&D, are currently being made by various key companies to enhance the energy storage capacity of liquid hydrogen. Moreover, the ongoing demand for hydrogen fuel cells in FCEV and growing demand from electronic devices such as thin-film solar and semiconductor devices are further escalating the requirement of innovative changes in liquid hydrogen technology.
For instance, in January 2019, Air Products and Chemicals, Inc., announced to expand its liquid hydrogen production facility in California. This helped the company to meet the growing product demand from various customer markets, including the growing fleet of FCV in California, the U.S. It is the second liquid hydrogen plant built by the company in California and will be operational by the first quarter of 2021. The company is also building a new liquid hydrogen plant at its La Porte, Texas facility. Also, Air Liquide entered into a long-term agreement with FirstElement Fuel Inc., to supply hydrogen to refueling stations in California. This helped the company to serve the growing need for hydrogen vehicle market in California.
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Key Questions Answered in This Report:
• What are the major trends in the global liquid hydrogen market across different regions?
• For a new company looking to enter into the market, which areas could it focus upon to stay ahead of the competition?
• How do the existing market players function to improve their market positioning?
• How does the supply chain function in the liquid hydrogen market?
• What are the major challenges inhibiting the growth of the global liquid hydrogen market?
• Which distribution segment is expected to witness the maximum demand growth in the liquid hydrogen market during 2019-2024?
• Which are the key end-user industries areas from different types of liquid hydrogen experienced high demand in 2018, and which are the key industry areas which should be targeted by the manufacturers of different types of products during the forecast period, 2019-2024?
• How should the strategies adopted by market players vary for different segments based on the size of companies involved in each segment?
• What are the key offerings of the prominent companies in the market for liquid hydrogen? Which regions and countries are leading in terms of consumption of liquid hydrogen, and which of them are expected to witness high demand growth from 2019-2024?
• What are the key consumption patterns of liquid hydrogen across application areas in different regions and countries during the period 2019-2024?
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