Report Update Nov 1, 2024

Bulgaria - Hydrogen - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Hydrogen Market 2024

Hydrogen Market Size in Bulgaria

The Bulgarian hydrogen market shrank to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Hydrogen Production in Bulgaria

In value terms, hydrogen production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of 41% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Hydrogen Exports

Exports from Bulgaria

In 2022, shipments abroad of hydrogen decreased by 0% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, exports recorded a dramatic setback. The smallest decline of 99.9% was in 2020. Over the period under review, the exports hit record highs at X cubic meters in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, hydrogen exports totaled $X in 2022. Overall, exports faced a dramatic shrinkage. The smallest decline of 99.9% was in 2020. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X cubic meters) was the main destination for hydrogen exports from Bulgaria, with a approx. 100% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to Hungary was relatively modest.

From 2013 to 2022, the average annual rate of growth in terms of value to Hungary was relatively modest.

Export Prices by Country

In 2022, the average hydrogen export price amounted to $X per cubic meter, approximately equating the previous year. In general, the export price recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price decreased by 99.9%. Over the period under review, the average export prices reached the peak figure at $X per cubic meter in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Hungary.

From 2013 to 2022, the rate of growth in terms of prices for Romania amounted to -89.6% per year.

Hydrogen Imports

Imports into Bulgaria

In 2022, after two years of decline, there was significant growth in supplies from abroad of hydrogen, when their volume increased by 157% to X cubic meters. In general, imports continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when imports increased by 227% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

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

Imports by Country

In 2022, Serbia (X cubic meters) constituted the largest hydrogen supplier to Bulgaria, accounting for a 80% share of total imports. Moreover, hydrogen imports from Serbia exceeded the figures recorded by the second-largest supplier, Italy (X cubic meters), eightfold. The third position in this ranking was taken by Romania (X cubic meters), with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Serbia amounted to +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+18.3% per year) and Romania (+20.1% per year).

In value terms, Serbia ($X) constituted the largest supplier of hydrogen to Bulgaria, comprising 78% of total imports. The second position in the ranking was taken by Romania ($X), with a 7.4% share of total imports. It was followed by Italy, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Serbia amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+20.5% per year) and Italy (+15.1% per year).

Import Prices by Country

In 2022, the average hydrogen import price amounted to $X per cubic meter, waning by -11.4% against the previous year. Overall, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when the average import price increased by 21% against the previous year. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per cubic meter), while the price for Italy ($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 Romania (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for hydrogen in the world?

The countries with the highest volumes of hydrogen consumption in 2021 were China, the Netherlands and the United States, with a combined 30% share of global consumption. Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, France and Nigeria lagged somewhat behind, together comprising a further 35%.

What are the largest producers of hydrogen in the world?

The countries with the highest volumes of hydrogen production in 2021 were China, the Netherlands and the United States, with a combined 29% share of global production. These countries were followed by Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, Canada and France, which together accounted for a further 35%.

What are the leading suppliers of hydrogen to Bulgaria?

In value terms, Serbia constituted the largest supplier of hydrogen to Bulgaria, comprising 72% of total imports. The second position in the ranking was occupied by Romania, with a 12% share of total imports. It was followed by Italy, with a 7.8% share.

What are the leading importers of hydrogen from Bulgaria?

In value terms, Oman emerged as the key foreign market for hydrogen exports from Bulgaria, comprising 93% of total exports. The second position in the ranking was occupied by Romania $326), with a 7.4% share of total exports.

What is the average export price for hydrogen in Bulgaria?

In 2019, the average hydrogen export price amounted to $1.3 per cubic meter, picking up by 381% against the previous year.

What is the average import price for hydrogen in Bulgaria?

In 2021, the average hydrogen import price amounted to $1.3 per cubic meter, falling by -7% against the previous year.

This report provides an in-depth analysis of the hydrogen market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20111150 - Hydrogen

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023