Report Update Nov 1, 2024

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

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GCC: Hydrogen Market 2024

Hydrogen Market Size in GCC

The GCC hydrogen market expanded slightly to $X in 2022, picking up by 3.9% against the previous year. Overall, consumption saw buoyant growth. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Hydrogen Production in GCC

In value terms, hydrogen production stood at $X in 2022 estimated in export price. Over the period under review, production showed a strong increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 70%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Hydrogen Exports

Exports in GCC

In 2022, hydrogen exports in GCC declined rapidly to X cubic meters, waning by -80% against 2021 figures. Over the period under review, exports continue to indicate a pronounced decrease. The pace of growth was the most pronounced in 2013 when exports increased by 193% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2021, and then shrank markedly in the following year.

In value terms, hydrogen exports shrank dramatically to $X in 2022. In general, exports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2013 when exports increased by 107%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X cubic meters) represented roughly 98% of total exports in 2022.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of hydrogen. From 2012 to 2022, the share of the United Arab Emirates increased by +28 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest hydrogen supplier in GCC.

In the United Arab Emirates, hydrogen exports increased at an average annual rate of +2.7% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per cubic meter, jumping by 318% against the previous year. In general, the export price posted mild growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +2.0% per year.

Hydrogen Imports

Imports in GCC

In 2022, the amount of hydrogen imported in GCC fell dramatically to X cubic meters, with a decrease of -17.1% compared with 2021 figures. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 216% against the previous year. As a result, imports attained the peak of X cubic meters. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hydrogen imports fell notably to $X in 2022. In general, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2013 with an increase of 79%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Oman prevails in imports structure, resulting at X cubic meters, which was approx. 92% of total imports in 2022. The following importers - Bahrain (X cubic meters), the United Arab Emirates (X cubic meters) and Kuwait (X cubic meters) - each resulted at an 8.4% share of total imports.

Oman was also the fastest-growing in terms of the hydrogen imports, with a CAGR of +16.6% from 2012 to 2022. At the same time, Bahrain (+5.5%) displayed positive paces of growth. By contrast, Kuwait (-7.5%) and the United Arab Emirates (-13.4%) illustrated a downward trend over the same period. Oman (+41 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain, Kuwait and the United Arab Emirates saw its share reduced by -1.6%, -11.7% and -24.9% from 2012 to 2022, respectively.

In value terms, Oman ($X) constitutes the largest market for imported hydrogen in GCC, comprising 51% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 19% share of total imports. It was followed by Kuwait, with a 16% share.

In Oman, hydrogen imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (-0.2% per year) and Kuwait (-7.5% per year).

Import Prices by Country

The import price in GCC stood at $X per cubic meter in 2022, dropping by -1.8% against the previous year. Overall, the import price faced a abrupt decrease. The pace of growth was the most pronounced in 2018 when the import price increased by 10% against the previous year. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Kuwait ($X per cubic meter), while Oman (less than $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 United Arab Emirates (+0.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Production in GCC, split by region and country
Trade (exports and imports) in GCC
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. CONSUMPTION BY COUNTRY
3. 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
2. PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
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
11. COUNTRY PROFILES

The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
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, By Country, 2018–2023
5. Production, In Physical Terms, By Country, 2012–2023
6. Imports, In Physical Terms, By Country, 2012–2023
7. Imports, In Value Terms, By Country, 2012–2023
8. Import Prices, By Country Of Destination, 2012–2023
9. Exports, In Physical Terms, By Country, 2012–2023
10. Exports, In Value Terms, By Country, 2012–2023
11. Export Prices, By Country Of Origin, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Consumption, By Country, 2023
4. Market Volume Forecast to 2030
5. Market Value Forecast to 2030
6. Products: Market Size And Growth, By Type
7. Products: Average Per Capita Consumption, By Type
8. Products: Exports And Growth, By Type
9. Products: Export Prices And Growth, By Type
10. Production Volume And Growth
11. Exports And Growth
12. Export Prices And Growth
13. Market Size And Growth
14. Per Capita Consumption
15. Imports And Growth
16. Import Prices
17. Production, In Physical Terms, 2012–2023
18. Production, In Value Terms, 2012–2023
19. Production, By Country, 2023
20. Production, In Physical Terms, By Country, 2012–2023
21. Imports, In Physical Terms, 2012–2023
22. Imports, In Value Terms, 2012–2023
23. Imports, In Physical Terms, By Country, 2023
24. Imports, In Physical Terms, By Country, 2012–2023
25. Imports, In Value Terms, By Country, 2012–2023
26. Import Prices, By Country, 2012–2023
27. Exports, In Physical Terms, 2012–2023
28. Exports, In Value Terms, 2012–2023
29. Exports, In Physical Terms, By Country, 2023
30. Exports, In Physical Terms, By Country, 2012–2023
31. Exports, In Value Terms, By Country, 2012–2023
32. Export Prices, 2012–2023