MENA: Hydrogen Market 2024

Hydrogen Market Size in MENA

The MENA's hydrogen market reduced slightly to $X in 2022, falling by -3.5% against the previous year. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +4.1% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Hydrogen Production in MENA

In value terms, hydrogen production declined modestly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +4.5% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 24%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Hydrogen Exports

Exports in MENA

In 2022, exports of hydrogen in MENA declined remarkably to X cubic meters, with a decrease of -77.2% on the previous year's figure. Overall, exports showed a slight downturn. The growth pace was the most rapid in 2013 with an increase of 175%. Over the period under review, the exports attained the maximum at X cubic meters in 2021, and then shrank sharply in the following year.

In value terms, hydrogen exports shrank to $X in 2022. Over the period under review, exports, however, posted a mild expansion. The growth pace was the most rapid in 2013 with an increase of 76% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the major exporting country with an export of about X cubic meters, which finished at 82% of total exports. It was distantly followed by Israel (X cubic meters), making up a 12% share of total exports. Tunisia (X cubic meters) followed a long way behind the leaders.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of hydrogen. At the same time, Israel (+72.4%) and Tunisia (+20.9%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +72.4% from 2012-2022. While the share of the United Arab Emirates (+17 p.p.), Israel (+12 p.p.) and Tunisia (+2.8 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Israel ($X) and Tunisia ($X) constituted the countries with the highest levels of exports in 2022, with a combined 91% share of total exports.

In terms of the main exporting countries, Israel, with a CAGR of +75.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per cubic meter in 2022, surging by 296% against the previous year. In general, the export price saw tangible growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Tunisia ($X per cubic meter), while the United Arab Emirates ($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 (+2.0%), while the other leaders experienced mixed trends in the export price figures.

Hydrogen Imports

Imports in MENA

In 2022, hydrogen imports in MENA was estimated at X cubic meters, surging by 12% compared with the previous year. Overall, imports showed buoyant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 159%. 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 surged to $X in 2022. Total imports indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +30.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 71%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Oman (X cubic meters) and Israel (X cubic meters) dominates imports structure, together committing 91% of total imports. Bahrain (X cubic meters) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) constitutes the largest market for imported hydrogen in MENA, comprising 59% of total imports. The second position in the ranking was taken by Oman ($X), with an 8.8% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel stood at +9.7%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (+0.2% per year) and Bahrain (-0.2% per year).

Import Prices by Country

The import price in MENA stood at $X per cubic meter in 2022, surging by 6.8% against the previous year. Over the period under review, the import price, however, saw a deep setback. The growth pace was the most rapid in 2017 when the import price increased by 18%. Over the period under review, import prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($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 Israel (-4.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform