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Report World - Hydrogen - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Nov 1, 2024

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

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Global Hydrogen Market 2024

Hydrogen Market Size

The global hydrogen market was estimated at $X in 2022, approximately mirroring the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +10.1% against 2019 indices. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in years to come.

Hydrogen Production

In value terms, hydrogen production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 -1.5% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 22% against the previous year. Over the period under review, global production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Hydrogen Exports

Exports

Global hydrogen exports soared to X cubic meters in 2022, jumping by 26% against the previous year. In general, total exports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +56.0% against 2020 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 34% against the previous year. As a result, the exports reached the peak of X cubic meters. From 2020 to 2022, the growth of the global exports remained at a lower figure.

In value terms, hydrogen exports soared to $X in 2022. Over the period under review, exports continue to indicate prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Belgium (X cubic meters) and Canada (X cubic meters) represented roughly 69% of total exports in 2022. It was distantly followed by the Netherlands (X cubic meters), constituting an 18% share of total exports. The United States (X cubic meters), Germany (X cubic meters) and Sweden (X cubic meters) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Belgium (with a CAGR of +30.0%), while the other global leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the largest hydrogen supplier worldwide, comprising 51% of global exports. The second position in the ranking was taken by the Netherlands ($X), with an 18% share of global exports. It was followed by Canada, with a 16% share.

In Belgium, hydrogen exports increased at an average annual rate of +31.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (-3.6% per year) and Canada (+2.4% per year).

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2022, with an increase of 41% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydrogen export price increased by +117.6% against 2019 indices. As a result, the export price reached 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 Germany ($X per cubic meter), while Sweden (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 Netherlands (+3.4%), while the other global leaders experienced more modest paces of growth.

Hydrogen Imports

Imports

In 2022, approx. X cubic meters of hydrogen were imported worldwide; growing by 81% on the year before. Over the period under review, imports showed a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydrogen imports surged to $X in 2022. In general, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Netherlands (X cubic meters) represented the key importer of hydrogen, committing 54% of total imports. The United States (X cubic meters) ranks second in terms of the total imports with a 13% share, followed by Canada (9.3%). Singapore (X cubic meters), Denmark (X cubic meters), France (X cubic meters) and Austria (X cubic meters) followed a long way behind the leaders.

Imports into the Netherlands increased at an average annual rate of +25.1% from 2012 to 2022. At the same time, Singapore (+46.0%), Denmark (+35.4%), Canada (+11.2%), Austria (+8.8%) and the United States (+5.2%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in the world, with a CAGR of +46.0% from 2012-2022. By contrast, France (-5.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, Singapore, Denmark and Canada increased by +41, +4, +3.6 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported hydrogen worldwide, comprising 48% of global imports. The second position in the ranking was held by the United States ($X), with an 18% share of global imports. It was followed by Singapore, with a 10% share.

In the Netherlands, hydrogen imports expanded at an average annual rate of +27.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+2.2% per year) and Singapore (+50.4% per year).

Import Prices by Country

The average hydrogen import price stood at $X per cubic meter in 2022, falling by -2.2% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2018 an increase of 13% against the previous year. Over the period under review, average import prices attained the peak figure at $X per cubic meter in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per cubic meter), while Canada ($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 Singapore (+3.0%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of hydrogen consumption in 2021 were China, the Netherlands and the United States, together accounting for 30% of global consumption. These countries were followed by Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, France and Nigeria, which together accounted for a further 35%.
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. Russia, Germany, India, Japan, Spain, Brazil, Pakistan, Indonesia, Canada and France lagged somewhat behind, together comprising a further 35%.
In value terms, Belgium, Canada and the Netherlands constituted the countries with the highest levels of exports in 2021, with a combined 81% share of global exports.
In value terms, the United States, the Netherlands and Germany constituted the countries with the highest levels of imports in 2021, with a combined 71% share of global imports.
The average hydrogen export price stood at $0.3 per cubic meter in 2021, growing by 21% against the previous year.
In 2021, the average hydrogen import price amounted to $0.4 per cubic meter, falling by -5% against the previous year.

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

Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:

+ the largest producing countries

Data coverage:

  • Global market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Global production, split by region and country
  • Global trade (exports and imports)
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Company coverage:

Dow, Linde, Cummins, Air Products & Chemicals, Ballard Power Systems, Ceres Power, Air Liquide, NES Fircroft, Cleantech Group, China Hydrogen Alliance, Sinopec, China Hydrogen Energy Technology Co., Rosatom, Rosneft, Gazprom, Gazpromneft, Rostec, Reliance Industries Ltd, GAIL, NTPC, Indian Oil Corp, Larsen and Toubro, Bloom Energy Corp, Nikola Corporation

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. GLOBAL PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. GLOBAL 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. 9. GLOBAL 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. 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. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • United States
    • China
    • Japan
    • Germany
    • United Kingdom
    • France
    • Brazil
    • Italy
    • Russian Federation
    • India
    • Canada
    • Australia
    • Republic of Korea
    • Spain
    • Mexico
    • Indonesia
    • Netherlands
    • Turkey
    • Saudi Arabia
    • Switzerland
    • Sweden
    • Nigeria
    • Poland
    • Belgium
    • Argentina
    • Norway
    • Austria
    • Thailand
    • United Arab Emirates
    • Colombia
    • Denmark
    • South Africa
    • Malaysia
    • Israel
    • Singapore
    • Egypt
    • Philippines
    • Finland
    • Chile
    • Ireland
    • Pakistan
    • Greece
    • Portugal
    • Kazakhstan
    • Algeria
    • Czech Republic
    • Qatar
    • Peru
    • Romania
    • Vietnam

  12. 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

  13. 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

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