CIS: Hydrogen Market 2024

Hydrogen Market Size in CIS

The CIS hydrogen market was estimated at $X in 2022, remaining stable against the previous year. Overall, consumption, however, saw a buoyant increase. The level of consumption peaked in 2022 and is likely to continue growth in years to come.

Hydrogen Production in CIS

In value terms, hydrogen production stood at $X in 2022 estimated in export price. In general, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 233%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Hydrogen Exports

Exports in CIS

After two years of decline, shipments abroad of hydrogen increased by 97% to X cubic meters in 2022. Overall, exports, however, saw a pronounced reduction. The pace of growth appeared the most rapid in 2016 with an increase of 231%. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydrogen exports soared to $X in 2022. Over the period under review, exports recorded a prominent increase. The pace of growth was the most pronounced in 2016 with an increase of 171%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia dominates exports structure, amounting to X cubic meters, which was approx. 96% of total exports in 2022. Kazakhstan (X cubic meters) held a little share of total exports.

Russia was also the fastest-growing in terms of the hydrogen exports, with a CAGR of -2.9% from 2012 to 2022. Kazakhstan (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia increased by +2.6 percentage points.

In value terms, Russia ($X) remains the largest hydrogen supplier in the CIS, comprising 99% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 1% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +7.9%.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per cubic meter, dropping by -12.9% against the previous year. In general, the export price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2021 when the export price increased by 133%. As a result, the export price attained the peak level of $X per cubic meter, and then shrank in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per cubic meter), while Kazakhstan stood at $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+11.1%).

Hydrogen Imports

Imports in CIS

In 2022, after two years of decline, there was significant growth in purchases abroad of hydrogen, when their volume increased by 8.1% to X cubic meters. Over the period under review, imports, however, showed a slight setback. The pace of growth was the most pronounced in 2016 with an increase of 203% against the previous year. The volume of import peaked at X cubic meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, hydrogen imports shrank remarkably to $X in 2022. Overall, imports, however, saw a pronounced decline. The pace of growth was the most pronounced in 2018 with an increase of 131%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Kazakhstan (X cubic meters) represented the major importer of hydrogen, committing 72% of total imports. Uzbekistan (X cubic meters) held the second position in the ranking, followed by Belarus (X cubic meters). All these countries together took approx. 23% share of total imports. Russia (X cubic meters) took a minor share of total imports.

Kazakhstan was also the fastest-growing in terms of the hydrogen imports, with a CAGR of -1.3% from 2012 to 2022. Belarus (-7.1%), Russia (-13.2%) and Uzbekistan (-24.9%) illustrated a downward trend over the same period. Uzbekistan (+12 p.p.) and Kazakhstan (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while Belarus and Russia saw its share reduced by -8% and -8.6% from 2012 to 2022, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported hydrogen in the CIS, comprising 51% of total imports. The second position in the ranking was held by Belarus ($X), with a 22% share of total imports. It was followed by Russia, with an 11% share.

In Kazakhstan, hydrogen imports expanded at an average annual rate of +2.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (-6.8% per year) and Russia (-10.1% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per cubic meter, waning by -36.6% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by 63% against the previous year. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per cubic meter), while Uzbekistan ($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 Russia (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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