Report Update May 17, 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 declined to $X in 2023, waning by X% against the previous year. Over the period under review, consumption saw a buoyant increase. Over the period under review, the global market hit record highs at $X in 2022, and then reduced in the following year.

Hydrogen Production

In value terms, hydrogen production reduced slightly to $X in 2023 estimated in export price. In general, production saw a resilient expansion. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, global production hit record highs at $X in 2022, and then declined slightly in the following year.

Hydrogen Exports

Exports

After two years of growth, shipments abroad of hydrogen decreased by X% to X cubic meters in 2023. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of X cubic meters. From 2020 to 2023, the growth of the global exports failed to regain momentum.

In value terms, hydrogen exports contracted rapidly to $X in 2023. Over the period under review, exports, however, saw a slight increase. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, the exports reached the peak of $X, and then declined significantly in the following year.

Exports by Country

Canada was the main exporting country with an export of around X cubic meters, which accounted for X% of total exports. Belgium (X cubic meters) held a X% share (based on physical terms) of total exports, which put it in second place, followed by the Netherlands (X%), the United States (X%) and France (X%). Germany (X cubic meters) held a little share of total exports.

Exports from Canada increased at an average annual rate of X% from 2012 to 2023. At the same time, Belgium (X%), the United States (X%) and France (X%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Germany experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) illustrated a downward trend over the same period. While the share of Canada (X p.p.), Belgium (X p.p.), the United States (X p.p.) and France (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of the Netherlands (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest hydrogen supplying countries worldwide were Canada ($X), Belgium ($X) and the Netherlands ($X), together accounting for X% of global exports.

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

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2023, falling by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, the export price attained the peak level of $X per cubic meter, and then contracted notably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the United States (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other global leaders experienced more modest paces of growth.

Hydrogen Imports

Imports

After two years of growth, purchases abroad of hydrogen decreased by X% to X cubic meters in 2023. Overall, imports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, global imports hit record highs at X cubic meters in 2022, and then shrank rapidly in the following year.

In value terms, hydrogen imports shrank notably to $X in 2023. In general, imports, however, posted a noticeable increase. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then fell notably in the following year.

Imports by Country

In 2023, the Netherlands (X cubic meters), Mexico (X cubic meters) and the United States (X cubic meters) was the main importer of hydrogen in the world, mixing up X% of total import. It was distantly followed by Canada (X cubic meters), making up a X% share of total imports. France (X cubic meters) and Belgium (X cubic meters) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Mexico (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest hydrogen importing markets worldwide were the Netherlands ($X), the United States ($X) and France ($X), together comprising X% of global imports.

Among the main importing countries, the Netherlands, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average hydrogen import price stood at $X per cubic meter in 2023, which is down by X% against the previous year. Over the period under review, the import price showed a noticeable setback. The pace of growth appeared the most rapid in 2018 when the average import price increased by X% against the previous year. Global import price peaked at $X per cubic meter in 2012; however, from 2013 to 2023, 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 Belgium ($X per cubic meter), while Mexico (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by France (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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:

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. CONSUMPTION BY COUNTRY
3. 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. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
2. PRODUCTION BY COUNTRY
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. 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. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
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
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
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