How big is the liquid hydrogen market | Manufacturers & Commercial 2025

What is the size of Liquid Hydrogen Market?

The market is growing rapidly due to rising investments in hydrogen infrastructure, increasing adoption in clean mobility, and its potential in decarbonizing multiple high-emission industries.

Key Growth Drivers of the Liquid Hydrogen Market

• Rapid growth in demand of clean fuel substitute in all sectors
• The massive investment in the green hydrogen and liquefaction technology
• Aerospace, space and defence propulsion system adoption
• Incentives related to hydrogen powered transportation and storage by the government
• Energy-intensive industrial requirement of low-emission fuels

Liquid Hydrogen Market Trends

Liquid hydrogen market is witnessing trends such as expanded use in fuel cell electric vehicles (FCEVs), growing interest from aviation for zero-emission propulsion, and rising collaborations between energy giants for hydrogen liquefaction. Technologies for efficient transport and cryogenic storage are rapidly advancing. Integration with renewable energy sources is also becoming common.

Emerging Developments in the Liquid Hydrogen Market

Liquid hydrogen market is seeing developments like construction of large-scale liquefaction plants, pipeline and shipping advancements for bulk delivery, and increased participation from automotive OEMs and aerospace leaders. Improvements in the energy efficiency of liquefaction and electrolysis to make green hydrogen are also changing the nature of the market.

List of Leading Companies in the Liquid Hydrogen Market

Below is a comprehensive list of the leading market players driving growth in this sector:

1. Air Liquide S.A.

Air Liquide is a global leader in industrial gases, providing liquid hydrogen for mobility, aerospace, and energy sectors with large-scale production and distribution.

2. Linde plc

Linde offers integrated hydrogen solutions including liquefaction, storage, and fuelling infrastructure, serving clean energy, transport, and industrial markets globally.

3. Plug Power Inc.

Plug Power specializes in green hydrogen and liquid hydrogen systems for fuel cells, mobility, and stationary power, focusing on renewable energy-based production.

4. Air Products and Chemicals, Inc.

Air Products is a major liquid hydrogen supplier for energy, electronics, and space applications, with ongoing investments in large-scale hydrogen production plants.

5. Iwatani Corporation

Iwatani leads Japan’s hydrogen economy by providing liquid hydrogen for transportation and industrial use, with a strong network of production and fuelling stations.

6. Nel ASA

Nel ASA develops hydrogen production and liquefaction technologies, offering scalable liquid hydrogen solutions to power mobility, renewable energy, and grid storage.

7. Shell plc

Shell invests in hydrogen as part of its decarbonization strategy, including projects focused on liquid hydrogen infrastructure for heavy transport and industrial users.

8. Hy Gear (part of Xebec Adsorption Inc.)

Hy Gear provides on-site hydrogen generation and liquefaction technologies that reduce transportation cost and support distributed hydrogen fueling models.

9. Kawasaki Heavy Industries, Ltd.

Kawasaki pioneers large-scale liquid hydrogen shipping and storage technologies, supporting international hydrogen supply chains and low-carbon energy transition.

10. Toyota Tsusho Corporation

Toyota Tsusho engages in hydrogen infrastructure and logistics, with a focus on developing liquid hydrogen supply chains to fuel Japan’s hydrogen-powered economy.

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