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World - Hydrogen - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact

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Article Publishing Date: Aug 25, 2020

Global Hydrogen Market to Struggle Against Turbulence Caused by the Pandemic

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IndexBox has just published a new report: 'World - Hydrogen - Market Analysis, Forecast, Size, Trends And Insights'. Here is a summary of the report's key findings.

The global hydrogen market rose modestly to $22.7B in 2019, growing by 4.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). 

China ($4.8B), the Netherlands ($2.7B) and Russia ($1.8B) constituted the largest hydrogen markets worldwide in 2019, with a combined 41% share of the global market (IndexBox estimates). These countries were followed by the U.S., Germany, Brazil, Spain, Japan, India, Indonesia, France and Finland, which together accounted for a further 36%.

Consumption of industrial gases depends on the state of the economy and the performance of the industrial sector; therefore, the dynamics of the market as a whole reflects the country’s GDP growth. Until 2020, the global economy has been developing steadily for five years, although at a slower pace than in the previous decade. The slowdown in global economic growth was caused by a slowdown in the world's economy, increased political uncertainty in the world, and trade wars between the United States and China. According to the World Bank outlook from January 2020, the global economy was expected to continue moderate but steady growth, with an average rate of 2.5% per year in the medium term.

In early 2020, however, the global economy entered a period of the crisis caused by the outbreak of the COVID-19 pandemic. Large-scale restrictions on the operation of enterprises due to quarantine measures disrupt economic growth heavily, increase unemployment, and lower consumer spending. In addition, due to the high level of uncertainty, investment prospects are deteriorating, which negatively affects the renewal of the industrial equipment. Thus, according to the World Bank, the global economy is forecasted to plummet by -5% in 2020 and then to start recovering gradually.

The global industry currently experiences high turbulence caused by the pandemic, mainly by the lockdown of factories and hampered consumer demand. The global hydrogen market also faces challenges due to the pandemic in the major fundamentals relevant to a b2b market: macroeconomic conditions, sales channels, supply chains, and prices.

Against the backdrop of the introduction of quarantine restrictions which lead to the closure of production, a halt in transport activity, and a drop in incomes, over March-April of 2020, many countries experienced a drastic drop of industrial production. This, in turn, leads to a decrease in the use of technical gases including hydrogen. Since hydrogen is a raw material for ammonia production, the world market is also influenced by the demand for agricultural fertilizers. The agricultural sector as a whole is less sensitive to the pandemic crisis, which will support hydrogen demand. At the same time, since hydrogen is widely used in refining, the problems of the oil industry will affect the decline in hydrogen consumption in this segment.

The market is hampered by reduced capital investment which may lead to the postponement of plans for both the establishment of new facilities and the modernization of existing ones. After the ease of the quarantine shutdown, a recovery in industrial manufacturing is expected. As the global industry recovers, the hydrogen market balance will also be restored – accordingly, the pandemic's contribution to the hydrogen market will be noticeable, but not disastrous.

As the hydrogen market is predominantly a b2b-market, no dramatic changes are expected with regard to sales channels. However, online communication becomes increasingly important even in the b2b sales channels, with the use of distant negotiations and electronic document workflow.

The market is likely to face pressure on prices that come from pandemic-related reasons. Thus, a sharp drop in oil prices amid the pandemic will lead to a decrease in the cost of raw materials and inputs, particularly, natural gas prices. Moreover, a temporary increase in unemployment against the background of the closure of entire sectors of the economy will entail a decrease in the cost of labor, which will also reduce the cost of production. On the side of demand, lower consumer budgets will make sellers hold the prices.

In 2020, hampered by the lockdown and decreased investment caused by the pandemic, the global consumption of hydrogen should decline by approx. -5% against 2019, and then rebound somewhat in 2021. In the medium term, as the global economy recovers from the effects of the pandemic, the market is expected to grow gradually. Overall, market performance is forecast to pursue a slightly upward trend over the next decade, expanding with an anticipated CAGR of +1.8% (IndexBox estimates) for the period from 2019 to 2030, which is projected to bring the market volume to 32B cubic meters by the end of 2030.

Source: IndexBox AI Platform

Product coverage:
• Prodcom 20111150 - Hydrogen

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 2025.



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

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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

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
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption, By Country, 2015–2019
Table 5:
Production, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Physical Terms, By Country, 2007–2019
Table 7:
Imports, In Value Terms, By Country, 2007–2019
Table 8:
Import Prices, By Country Of Destination, 2007–2019
Table 9:
Exports, In Physical Terms, By Country, 2007–2019
Table 10:
Exports, In Value Terms, By Country, 2007–2019
Table 11:
Export Prices, By Country Of Origin, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Consumption, By Country, 2019
Figure 4:
Market Forecast To 2025
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Exports And Growth
Figure 11:
Export Prices And Growth
Figure 12:
Market Size And Growth
Figure 13:
Per Capita Consumption
Figure 14:
Imports And Growth
Figure 15:
Import Prices
Figure 16:
Production, In Physical Terms, 2007–2019
Figure 17:
Production, In Value Terms, 2007–2019
Figure 18:
Production, By Country, 2019
Figure 19:
Production, In Physical Terms, By Country, 2007–2019
Figure 20:
Imports, In Physical Terms, 2007–2019
Figure 21:
Imports, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, By Country, 2019
Figure 23:
Imports, In Physical Terms, By Country, 2007–2019
Figure 24:
Imports, In Value Terms, By Country, 2007–2019
Figure 25:
Import Prices, By Country, 2007–2019
Figure 26:
Exports, In Physical Terms, 2007–2019
Figure 27:
Exports, In Value Terms, 2007–2019
Figure 28:
Exports, In Physical Terms, By Country, 2019
Figure 29:
Exports, In Physical Terms, By Country, 2007–2019
Figure 30:
Exports, In Value Terms, By Country, 2007–2019
Figure 31:
Export Prices, 2007–2019

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