Report Update Nov 1, 2024

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

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Nigeria: Hydrogen Market 2024

Hydrogen Market Size in Nigeria

The Nigerien hydrogen market dropped to $X in 2022, stabilizing at the previous year. In general, consumption enjoyed a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Hydrogen Production in Nigeria

In value terms, hydrogen production reduced to $X in 2022 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 122% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hydrogen Exports

Exports from Nigeria

For the third consecutive year, Nigeria recorded decline in overseas shipments of hydrogen, which decreased by -13.6% to X cubic meters in 2022. Over the period under review, exports, however, posted a mild increase. The pace of growth appeared the most rapid in 2015 when exports increased by 107% against the previous year. The exports peaked at X cubic meters in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, hydrogen exports amounted to $X in 2022. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 92%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Benin (X cubic meters) was the main destination for hydrogen exports from Nigeria, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Benin amounted to +54.5%.

In value terms, Benin ($X) also remains the key foreign market for hydrogen exports from Nigeria.

From 2012 to 2022, the average annual rate of growth in terms of value to Benin totaled +84.0%.

Export Prices by Country

In 2022, the average hydrogen export price amounted to $X per cubic meter, surging by 16% against the previous year. Overall, the export price saw a remarkable increase. The most prominent rate of growth was recorded in 2020 when the average export price increased by 90%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to +19.4% per year.

Hydrogen Imports

Imports into Nigeria

In 2022, overseas purchases of hydrogen were finally on the rise to reach X cubic meters for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, continue to indicate a deep contraction. Imports peaked at X cubic meters in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, hydrogen imports soared to $X in 2022. Overall, imports, however, continue to indicate a perceptible decrease. The growth pace was the most rapid in 2018 with an increase of 153%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Tunisia (X cubic meters) constituted the largest supplier of hydrogen to Nigeria, accounting for a 66% share of total imports. Moreover, hydrogen imports from Tunisia exceeded the figures recorded by the second-largest supplier, the Netherlands (X cubic meters), fourfold. The third position in this ranking was held by China (X cubic meters), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Tunisia stood at +25.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+1.3% per year) and China (-15.6% per year).

In value terms, Tunisia ($X) constituted the largest supplier of hydrogen to Nigeria, comprising 45% of total imports. The second position in the ranking was taken by China ($X), with an 18% share of total imports. It was followed by the Netherlands, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Tunisia totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.8% per year) and the Netherlands (-4.4% per year).

Import Prices by Country

The average hydrogen import price stood at $X per cubic meter in 2022, dropping by -35.6% against the previous year. Overall, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by 42% against the previous year. The import price peaked at $X per cubic meter in 2021, and then fell markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per cubic meter), while the price for Belgium ($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 India (+37.0%), while the prices for the other major suppliers experienced more modest paces of growth.

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

What are the leading suppliers of hydrogen to Nigeria?

In value terms, Tunisia constituted the largest supplier of hydrogen to Nigeria, comprising 47% of total imports. The second position in the ranking was occupied by the Netherlands, with a 21% share of total imports. It was followed by the United States, with a 14% share.

What are the leading importers of hydrogen from Nigeria?

In value terms, Benin remains the key foreign market for hydrogen exports from Nigeria.

What is the average export price for hydrogen in Nigeria?

The average hydrogen export price stood at $0.1 per cubic meter in 2021, approximately reflecting the previous year.

What is the average import price for hydrogen in Nigeria?

The average hydrogen import price stood at $0.4 per cubic meter in 2021, rising by 12% against the previous year.

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

Nigeria

Data coverage:

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