Australia: Hydrogen Market 2024

Hydrogen Market Size in Australia

The Australian hydrogen market expanded notably to $X in 2022, growing by 10% against the previous year. In general, consumption showed strong growth. Hydrogen consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Hydrogen Production in Australia

In value terms, hydrogen production totaled $X in 2022 estimated in export price. In general, production saw buoyant growth. The pace of growth appeared the most rapid in 2013 with an increase of 95% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Hydrogen Exports

Exports from Australia

Hydrogen exports from Australia contracted rapidly to X cubic meters in 2022, reducing by -37.6% against the previous year's figure. Overall, exports, however, continue to indicate moderate growth. The most prominent rate of growth was recorded in 2021 when exports increased by 2,757% against the previous year. The exports peaked at X cubic meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, hydrogen exports surged to $X in 2022. Over the period under review, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 1,030% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

New Zealand (X cubic meters) was the main destination for hydrogen exports from Australia, accounting for a 74% share of total exports. Moreover, hydrogen exports to New Zealand exceeded the volume sent to the second major destination, Japan (X cubic meters), sevenfold. The third position in this ranking was held by Papua New Guinea (X cubic meters), with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume to New Zealand was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+200.5% per year) and Papua New Guinea (-11.0% per year).

In value terms, Japan ($X), New Zealand ($X) and Brazil ($X) appeared to be the largest markets for hydrogen exported from Australia worldwide, with a combined 83% share of total exports.

Japan, with a CAGR of +1,590.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2022, surging by 133% against the previous year. In general, the export price showed a significant expansion. The pace of growth was the most pronounced in 2020 when the average export price increased by 300%. As a result, the export price reached the peak level of $X per cubic meter. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per cubic meter), while the average price for exports to New Zealand ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+462.3%), while the prices for the other major destinations experienced more modest paces of growth.

Hydrogen Imports

Imports into Australia

In 2022, overseas purchases of hydrogen were finally on the rise to reach X cubic meters for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a deep reduction. Over the period under review, imports hit record highs at X cubic meters in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, hydrogen imports soared to $X in 2022. In general, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, France (X cubic meters) constituted the largest hydrogen supplier to Australia, with a 65% share of total imports. Moreover, hydrogen imports from France exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), twofold. The third position in this ranking was taken by India (X cubic meters), with a 2.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-1.2% per year) and India (+37.6% per year).

In value terms, France ($X) constituted the largest supplier of hydrogen to Australia, comprising 93% of total imports. The second position in the ranking was taken by the United States ($X), with a 5.1% share of total imports. It was followed by the UK, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value from France amounted to +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+11.9% per year) and the UK (-11.2% per year).

Import Prices by Country

The average hydrogen import price stood at $X per cubic meter in 2022, surging by 16% against the previous year. Overall, the import price showed a significant expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 8,064%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per cubic meter), while the price for India ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+31.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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