Switzerland: Hydrogen Market 2024

Hydrogen Market Size in Switzerland

The Swiss hydrogen market fell slightly to $X in 2022, which is down by -3.3% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +12.7% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Hydrogen Production in Switzerland

In value terms, hydrogen production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% 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 +8.8% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 47%. Hydrogen production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Hydrogen Exports

Exports from Switzerland

In 2022, the amount of hydrogen exported from Switzerland declined notably to X cubic meters, reducing by -31.7% on 2021 figures. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 58%. As a result, the exports attained the peak of X cubic meters. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, hydrogen exports shrank notably to $X in 2022. Overall, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of 31%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Austria (X cubic meters), Germany (X cubic meters) and Spain (X cubic meters) were the main destinations of hydrogen exports from Switzerland, with a combined 84% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +33.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for hydrogen exports from Switzerland, comprising 58% of total exports. The second position in the ranking was held by Austria ($X), with a 14% share of total exports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at -10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+1.5% per year) and France (+11.5% per year).

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2022, falling by -13.4% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 46%. The export price peaked at $X per cubic meter in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Austria ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.8%), while the prices for the other major destinations experienced mixed trend patterns.

Hydrogen Imports

Imports into Switzerland

In 2022, hydrogen imports into Switzerland soared to X cubic meters, increasing by 25% compared with the previous year. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 42%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, hydrogen imports skyrocketed to $X in 2022. Overall, total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +61.6% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 34% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Germany (X cubic meters), France (X cubic meters) and Italy (X cubic meters) were the main suppliers of hydrogen imports to Switzerland, with a combined 99.9% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +15.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hydrogen suppliers to Switzerland were Germany ($X), France ($X) and Italy ($X), with a combined 100% share of total imports.

Among the main suppliers, Italy, with a CAGR of +17.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average hydrogen import price stood at $X per cubic meter in 2022, dropping by -2.8% against the previous year. Over the period under review, the import price recorded a noticeable curtailment. The pace of growth was the most pronounced in 2013 an increase of 5.2% against the previous year. As a result, import price attained the peak level of $X per cubic meter. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per cubic meter), while the price for France ($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 Italy (+1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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