Turkey: Hydrogen Market 2024

Hydrogen Market Size in Turkey

The Turkish hydrogen market rose markedly to $X in 2022, picking up by 6.4% against the previous year. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Hydrogen Production in Turkey

In value terms, hydrogen production expanded markedly to $X in 2022 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by -6.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 34%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Hydrogen Exports

Exports from Turkey

In 2022, the amount of hydrogen exported from Turkey surged to X cubic meters, with an increase of 102% against the previous year's figure. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 2,666% against the previous year. Over the period under review, the exports reached the maximum at X cubic meters in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, hydrogen exports skyrocketed to $X in 2022. Overall, exports, however, showed a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 3,427% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X cubic meters), Algeria (X cubic meters) and Bulgaria (X cubic meters) were the main destinations of hydrogen exports from Turkey, together accounting for 88% of total exports.

From 2012 to 2022, the biggest increases were recorded for Algeria (with a CAGR of +562.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hydrogen exported from Turkey were Iraq ($X), Azerbaijan ($X) and Bulgaria ($X), together accounting for 82% of total exports. Algeria, Iran, Georgia and Turkmenistan lagged somewhat behind, together accounting for a further 15%.

In terms of the main countries of destination, Algeria, with a CAGR of +44.7%, saw 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 average hydrogen export price stood at $X per cubic meter in 2022, waning by -12.5% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 65%. Over the period under review, the average export prices hit record highs at $X per cubic meter in 2020; however, from 2021 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 Azerbaijan ($X per cubic meter), while the average price for exports to Algeria ($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 Azerbaijan (+27.8%), while the prices for the other major destinations experienced more modest paces of growth.

Hydrogen Imports

Imports into Turkey

For the third year in a row, Turkey recorded growth in supplies from abroad of hydrogen, which increased by 157% to X cubic meters in 2022. Overall, imports enjoyed a significant expansion. The growth pace was the most rapid in 2018 with an increase of 347% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, hydrogen imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 161%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Serbia (X cubic meters) constituted the largest hydrogen supplier to Turkey, accounting for a 60% share of total imports. Moreover, hydrogen imports from Serbia exceeded the figures recorded by the second-largest supplier, Germany (X cubic meters), threefold. The third position in this ranking was taken by Romania (X cubic meters), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Serbia stood at +50.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+41.7% per year) and Romania (+109.8% per year).

In value terms, the largest hydrogen suppliers to Turkey were Serbia ($X), Germany ($X) and Romania ($X), together comprising 90% of total imports.

Among the main suppliers, Romania, with a CAGR of +126.7%, saw 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

In 2022, the average hydrogen import price amounted to $X per cubic meter, approximately reflecting the previous year. Over the period under review, the import price, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2013 an increase of 79%. Over the period under review, average import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per cubic meter), while the price for Serbia ($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 Belgium (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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