According to the latest study by Fact.MR, liquid organic hydrogen carriers market is expected to get major boost in demand over the forecast period. Vital need for technologies that support safe transportation and storage of potential energy is driving the LOHC market. Moreover Fact.MR projects substantial demand for LOHC over the forecast period growing at a CAGR of around 5.6%.
Mounting demand for clean energy source is anticipated to provide major boost for LOHC market. Also, investments in R&D to develop cost efficient energy storage systems is major factor behind rising interest in LOHC technologies. Owing to these factors market for LOHC is projected to grow with moderate CAGR over the projected forecast period.
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The Liquid Organic Hydrogen Carriers (LOHC) market represents a critical component of the evolving hydrogen economy, offering a promising solution to the challenges of hydrogen storage and transportation. LOHC technology allows for the safe and efficient storage and transport of hydrogen in liquid form, overcoming the limitations of gaseous hydrogen. This market overview will provide insights into the current state of the Liquid Organic Hydrogen Carriers industry, recent industry news, and key factors contributing to its growth.
Recent Industry News
- Partnerships and Collaborations: Recent developments in the LOHC market highlight various partnerships and collaborations between technology providers, energy companies, and research institutions. These collaborations aim to accelerate the commercialization of LOHC technology and its integration into existing hydrogen infrastructure.
- Efficiency Improvements: Industry news emphasizes ongoing research efforts to improve the efficiency of LOHC systems, reducing energy losses during the hydrogen release and storage processes. Enhanced catalysts and reactor designs are contributing to these efficiency gains.
- Energy Transition Focus: The LOHC market aligns with the global focus on the energy transition, with industry news highlighting the role of LOHC technology in facilitating the storage and distribution of green hydrogen produced from renewable sources.
- Hydrogen Refueling Stations: The development of LOHC-based hydrogen refueling stations is gaining attention, allowing for convenient and safe hydrogen supply for fuel cell vehicles and other applications.
- Global Expansion: Companies in the LOHC market are expanding their presence in regions with a strong emphasis on hydrogen infrastructure development, such as Europe, Japan, and North America.
Market Players: –
Some of the key market players in the industry are
- Hydrogenious Technologies
- Covalion, Hynertech Co. Ltd.
Aforementioned market players can be seen to opt for mix of organic and inorganic growth strategies such as collaborations and product launches.
- For instance, in July 2021 Eastman partnered with Hydrogenious technologies to provide specialty carriers needed to fit in LOHC technologies.
- In June 2020 Hyundia Motors announced that it would partner with Hydrogenious technologies with plans to deploy and market LOHC technologies.
- By Compound Type
- By Composition Type
- By Process
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
Future Growth Prospects
The future of the Liquid Organic Hydrogen Carriers (LOHC) market holds significant growth prospects:
- Hydrogen Economy Expansion: As the global hydrogen economy continues to grow, LOHC technology is expected to play a crucial role in facilitating the storage, transport, and distribution of hydrogen, especially in sectors like mobility and industrial applications.
- Green Hydrogen Production: The increasing focus on green hydrogen production from renewable sources is likely to drive the demand for LOHCs as a means of storing and transporting renewable hydrogen.
- Efficiency Improvements: Ongoing research and development efforts are expected to lead to further improvements in the efficiency and cost-effectiveness of LOHC systems, making them more competitive with other storage methods.
- Infrastructure Development: The expansion of hydrogen infrastructure, including hydrogen refueling stations and industrial hydrogen distribution networks, will create opportunities for LOHC technology to gain wider adoption.
- Global Reach: As countries and regions worldwide invest in hydrogen infrastructure, the LOHC market is poised for global expansion, with opportunities in Europe, Asia, North America, and beyond.
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The Liquid Organic Hydrogen Carriers (LOHC) market is a critical component of the evolving hydrogen economy, offering efficient and safe solutions for hydrogen storage and transport. Recent industry news highlights collaborations, efficiency improvements, and the alignment of LOHC technology with the energy transition. While challenges related to cost competitiveness and scalability exist, the market’s future growth prospects appear promising, driven by the expansion of the hydrogen economy and the need for sustainable hydrogen storage and distribution solutions.
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