Automotive Liquid Hydrogen Trends and Forecast
The future of the global automotive liquid hydrogen market looks promising with opportunities in the fuel cell electric vehicle and internal combustion engine vehicle markets. The global automotive liquid hydrogen market is expected to grow with a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are growing focus on zero-emission vehicles and rising advancements in hydrogen fuel cell technology.
• Lucintel forecasts that blue hydrogen is expected to witness the higher growth over the forecast period.
• Within this market, fuel cell electric vehicle is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States: Companies like Toyota and Nikola Corporation announced plans to expand their hydrogen fueling station network to support fuel cell vehicles. The US government also set ambitious targets to increase hydrogen infrastructure investments for transportation.
Germany: Daimler AG and BMW are investing heavily in hydrogen-powered vehicles, aiming to launch commercial models soon. The German government introduced subsidies and incentives to promote hydrogen infrastructure development, aligning with EUÄX%$%Xs hydrogen strategy.
Japan: Toyota and Honda are leading the way in hydrogen fuel cell technology, with Toyota planning to launch new models and expand production capacity. JapanÄX%$%Xs government is supporting this growth with subsidies for fuel cell vehicle purchases and hydrogen infrastructure projects.
South Korea: Hyundai Motor Company is actively promoting hydrogen fuel cell vehicles, with plans to introduce more models and improve infrastructure. The South Korean government announced funding and regulatory support to accelerate the adoption of hydrogen-powered transportation.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Automotive Liquid Hydrogen by Segment
The study includes a forecast for the global automotive liquid hydrogen by type, vehicle type, application, and region.
Automotive Liquid Hydrogen Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Blue Hydrogen
• Grey Hydrogen
Automotive Liquid Hydrogen Market by Vehicle Type [Shipment Analysis by Value from 2018 to 2030]:
• Commercial Vehicles
• Passenger Vehicles
Automotive Liquid Hydrogen Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Fuel Cell Electric Vehicles
• Internal Combustion Engine Vehicles
• Others
Automotive Liquid Hydrogen Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Automotive Liquid Hydrogen Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies automotive liquid hydrogen companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the automotive liquid hydrogen companies profiled in this report include-
• Air Products and Chemicals
• Ballard Power Systems
• Bhuruka Gases
• ENEOS Corporation
• Fabrum
• FirstElement Fuel
• Fuel Cell Energy
• INOX India Private
• Iwatani Corporation
• Linde
Recent Development in the Automotive Liquid Hydrogen Market
Toyota: Toyota is investing heavily in hydrogen fuel cell technology, with initiatives focused on developing advanced fuel cell systems for automotive applications. They are also working on expanding their hydrogen fueling station network to support the growing demand for fuel cell vehicles.
Hyundai Motor Company: Hyundai has been actively promoting hydrogen fuel cell vehicles as a sustainable transportation solution. They recently unveiled plans to launch new hydrogen-powered models with improved range and performance, showcasing their commitment to green mobility.
Nikola Corporation: Nikola Corporation is making strides in the hydrogen fuel cell truck market, with ambitious plans to commercialize heavy-duty fuel cell trucks. They are collaborating with industry partners to develop hydrogen infrastructure and support the adoption of zero-emission transportation.
Daimler AG: Daimler AG, the parent company of Mercedes-Benz, is focusing on hydrogen fuel cell technology as part of its future mobility strategy. They are working on developing fuel cell-powered passenger vehicles and exploring opportunities in the commercial vehicle segment.
BMW: BMW is actively exploring hydrogen fuel cell technology for future vehicle models, with a focus on sustainability and reducing carbon emissions. They are involved in research and development initiatives to improve fuel cell efficiency and performance in automotive applications.
Features of the Global Automotive Liquid Hydrogen Market
Market Size Estimates: Automotive liquid hydrogen market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Automotive liquid hydrogen market size by type, vehicle type, application, and region in terms of value ($B).
Regional Analysis: Automotive liquid hydrogen market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, vehicle types, applications, and regions for the automotive liquid hydrogen market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the automotive liquid hydrogen market.
Análisis de la intensidad competitiva de la industria basada en el modelo de cinco fuerzas de Porter.
Preguntas frecuentes
Q1. What is the growth forecast for automotive liquid hydrogen market?
Answer: The global automotive liquid hydrogen market is expected to grow with a CAGR of 5.7% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the automotive liquid hydrogen market?
Answer: The major drivers for this market are growing focus on zero-emission vehicles and rising advancements in hydrogen fuel cell technology.
Q3. What are the major segments for automotive liquid hydrogen market?
Answer: The future of the automotive liquid hydrogen market looks promising with opportunities in the fuel cell electric vehicle and internal combustion engine vehicle markets.
Q4. Who are the key automotive liquid hydrogen market companies?
Answer: Some of the key automotive liquid hydrogen companies are as follows:
• Air Products and Chemicals
• Ballard Power Systems
• Bhuruka Gases
• ENEOS Corporation
• Fabrum
• FirstElement Fuel
• Fuel Cell Energy
• INOX India Private
• Iwatani Corporation
• Linde
Q5. Which automotive liquid hydrogen market segment will be the largest in future?
Answer: Lucintel forecasts that blue hydrogen is expected to witness the higher growth over the forecast period.
Q6. In automotive liquid hydrogen market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive liquid hydrogen market by type (blue hydrogen and grey hydrogen), vehicle type (commercial vehicles and passenger vehicles), application (fuel cell electric vehicles, internal combustion engine vehicles, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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