Report Update Nov 1, 2024

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

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Canada: Hydrogen Market 2024

Hydrogen Market Size in Canada

In 2022, the Canadian hydrogen market increased by 10% to $X, rising for the third year in a row after two years of decline. In general, consumption recorded a mild expansion. Hydrogen consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Hydrogen Production in Canada

In value terms, hydrogen production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 17%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Hydrogen Exports

Exports from Canada

In 2022, overseas shipments of hydrogen decreased by -3.7% to X cubic meters, falling for the second consecutive year after two years of growth. Over the period under review, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -13.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 22%. Over the period under review, the exports reached the peak figure at X cubic meters in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydrogen exports shrank to $X in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 18%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X cubic meters) was the main destination for hydrogen exports from Canada, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to +5.1%.

In value terms, the United States ($X) also remains the key foreign market for hydrogen exports from Canada.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +2.4%.

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2022, with a decrease of -2.6% against the previous year. Over the period under review, the export price recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 an increase of 5.8% against the previous year. Over the period under review, the average export prices attained the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -2.6% per year.

Hydrogen Imports

Imports into Canada

In 2022, approx. X cubic meters of hydrogen were imported into Canada; surging by 14% compared with the previous year. Over the period under review, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 with an increase of 76%. Over the period under review, imports attained the maximum at X cubic meters in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, hydrogen imports surged to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +76.4% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X cubic meters) was the main hydrogen supplier to Canada, with a approx. 99.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +11.2%.

In value terms, the United States ($X) constituted the largest supplier of hydrogen to Canada.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +7.1%.

Import Prices by Country

In 2022, the average hydrogen import price amounted to $X per cubic meter, growing by 44% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2018 an increase of 91% against the previous year. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -3.7% per year.

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, together comprising 30% of global consumption. These countries were followed by Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, France and Nigeria, which together accounted for 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. Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, Canada and France lagged somewhat behind, together accounting for a further 35%.

What are the leading suppliers of hydrogen to Canada?

In value terms, the United States constituted the largest supplier of hydrogen to Canada, comprising 97% of total imports. The second position in the ranking was occupied by France, with a 3.3% share of total imports.

What are the leading importers of hydrogen from Canada?

In value terms, the United States remains the key foreign market for hydrogen exports from Canada.

What is the average export price for hydrogen in Canada?

In 2021, the average hydrogen export price amounted to $0.2 per cubic meter, rising by 5.8% against the previous year.

What is the average import price for hydrogen in Canada?

In 2021, the average hydrogen import price amounted to $0.6 per cubic meter, rising by 17% against the previous year.

This report provides an in-depth analysis of the hydrogen market in Canada. 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:

Canada

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Canada
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