Liquid Hydrogen Market is Expected to Grow at a CAGR of 5.66% on the basis of volume during the Forecast period from 2019 to 2024.

The Asia-Pacific liquid hydrogen market, in terms of volume, is currently dominated by steam methane reforming. Steam reforming is the best available technique for hydrogen production. It is the most economical and effective way of producing hydrogen. This process also generates fewer wastes, liquid effluents, and chemical storage and none of these are particularly hazardous. Thus, this method is
expected to continue to be the dominant method during the forecast period. Major players in the Asia-Pacific SMR market are Air Liquide, Linde plc, Air Products and Chemicals, In., and Messer Group.

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Refining segment is also expected to drive the market due to stringent regulations for high sulphurcontent in fuels. Stringent air pollutant standards are also propelling the use of liquid hydrogen in refining sector. In addition, increasing demand from food industry is expected to lead to high adoption of liquid hydrogen in the coming years.

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However, due to long-term stability and lost cost, the demand for alkaline electrolysis is expected to rise in the region. Alkaline electrolyzers are easily available in China and the most crucial domestic producers are Beijing CEI Technology Co., Ltd. And Tianjin Mainland Hydrogen Equipment Co., Ltd. (THE).

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