Market Size of North America Liquid Hydrogen Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.55 Billion |
| Market Size (2029) | USD 11.33 Billion |
| CAGR (2024 - 2029) | 8.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Liquid Hydrogen Market Analysis
The North America Liquid Hydrogen Market size is estimated at USD 7.55 billion in 2024, and is expected to reach USD 11.33 billion by 2029, growing at a CAGR of 8.5% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing focus on the decarbonization of the global energy industry along with growth and expansion of the automobile industry and other end-user verticals are expected to drive the North America liquid hydrogen market during the forecast period.
- On the other hand, high costs associated with the transportation of liquid hydrogen is expected to pose a major challenge to the growth of the liquid hydrogen market. Complexities involved in storing liquid hydrogen on a large scale will further restrict the scope of growth for this market.
- Nevertheless, rising emphasis on liquid hydrogen as a marine fuel and increasing innovations in the aerospace industry is expected to create lucrative growth opportunities for the liquid hydrogen market in North America soon.
- United States is expected to dominate the North America liquid hydrogen market during the forecast period. Owing to the growing demand for liquid hydrogen for space exploration and the increasing adoption of hydrogen fuel cells in commercial vehicles.
