Eastern Europe: Hydrogen Market 2024

Hydrogen Market Size in Eastern Europe

For the third consecutive year, the East European hydrogen market recorded growth in sales value, which increased by 0.4% to $X in 2022. Over the period under review, consumption, however, enjoyed a resilient increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Hydrogen Production in Eastern Europe

In value terms, hydrogen production expanded sharply to $X in 2022 estimated in export price. Overall, production, however, enjoyed resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by 308%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Hydrogen Exports

Exports in Eastern Europe

In 2022, approx. X cubic meters of hydrogen were exported in Eastern Europe; picking up by 58% compared with the year before. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, hydrogen exports soared to $X in 2022. In general, exports continue to indicate buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland was the major exporting country with an export of about X cubic meters, which resulted at 50% of total exports. Slovakia (X cubic meters) held the second position in the ranking, distantly followed by Hungary (X cubic meters) and the Czech Republic (X cubic meters). All these countries together held near 48% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +17.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest hydrogen supplying countries in Eastern Europe were Poland ($X), Slovakia ($X) and Hungary ($X), with a combined 86% share of total exports.

Poland, with a CAGR of +26.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per cubic meter, growing by 23% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydrogen export price increased by +119.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 an increase of 37% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Hungary ($X per cubic meter) and Slovakia ($X per cubic meter), while the Czech Republic ($X per cubic meter) and Poland ($X per cubic meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.7%), while the other leaders experienced more modest paces of growth.

Hydrogen Imports

Imports in Eastern Europe

In 2022, supplies from abroad of hydrogen increased by 84% to X cubic meters for the first time since 2018, thus ending a three-year declining trend. Total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X cubic meters in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, hydrogen imports surged to $X in 2022. Over the period under review, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Czech Republic (X cubic meters) represented the major importer of hydrogen, constituting 49% of total imports. It was distantly followed by Slovakia (X cubic meters), Poland (X cubic meters) and Romania (X cubic meters), together achieving a 47% share of total imports. Bulgaria (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to hydrogen imports into the Czech Republic stood at +6.3%. At the same time, Bulgaria (+23.0%) and Slovakia (+10.5%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +23.0% from 2012-2022. Poland experienced a relatively flat trend pattern. By contrast, Romania (-3.3%) illustrated a downward trend over the same period. While the share of Slovakia (+8.8 p.p.) and the Czech Republic (+6.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Romania (-6.4 p.p.) and Poland (-10.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X) constitutes the largest market for imported hydrogen in Eastern Europe, comprising 60% of total imports. The second position in the ranking was held by Poland ($X), with an 18% share of total imports. It was followed by Slovakia, with a 13% share.

From 2012 to 2022, the average annual growth rate of value in the Czech Republic stood at +17.2%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+1.4% per year) and Slovakia (+13.5% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per cubic meter, picking up by 7.9% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydrogen import price increased by +138.7% against 2018 indices. The most prominent rate of growth was recorded in 2020 when the import price increased by 40%. Over the period under review, import prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bulgaria ($X per cubic meter), while Slovakia ($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 Czech Republic (+10.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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