Latvia - Hydrogen - Market Analysis, Forecast, Size, Trends And Insights
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View PricingHydrogen Price in Latvia - 2023
Contents:
- Hydrogen Price in Latvia (CIF) - 2022
- Hydrogen Price in Latvia (FOB) - 2022
- Hydrogen Imports in Latvia
- Hydrogen Exports in Latvia
Hydrogen Price in Latvia (CIF) - 2022
The average hydrogen import price stood at $1 per cubic meter in 2022, reducing by -1.7% against the previous year. Over the period under review, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hydrogen import price increased by +88.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 41%. Over the period under review, average import prices hit record highs at $1 per cubic meter in 2021, and then shrank modestly in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($1.2 per cubic meter), while the price for Hungary amounted to $0.5 per cubic meter.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+5.4%).
Hydrogen Price in Latvia (FOB) - 2022
In 2022, the average hydrogen export price amounted to $2.3 per cubic meter, picking up by 7.2% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. The most prominent rate of growth was recorded in 2015 when the average export price increased by 26%. As a result, the export price reached the peak level of $5 per cubic meter. From 2016 to 2022, the average 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 Lithuania ($3.6 per cubic meter), while the average price for exports to Estonia ($2 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 Russia (+19.7%), while the prices for the other major destinations experienced more modest paces of growth.
Hydrogen Imports in Latvia
In 2022, approx. 100K cubic meters of hydrogen were imported into Latvia; approximately reflecting 2021 figures. The total import volume increased at an average annual rate of +3.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 15%. As a result, imports reached the peak of 101K cubic meters, and then declined slightly in the following year.
In value terms, hydrogen imports declined slightly to $97K in 2022. Over the period under review, imports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 55%. As a result, imports reached the peak of $100K, and then shrank modestly in the following year.
| Import of Hydrogen in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Finland | 20.6 | 40.4 | 65.3 | 73.6 | 52.9% |
| Hungary | 21.4 | 20.9 | 25.0 | 19.6 | -2.9% |
| Others | 4.4 | 3.0 | 9.7 | 4.0 | -3.1% |
| Total | 46.4 | 64.4 | 100 | 97.1 | 27.9% |
Top Suppliers of Hydrogen to Latvia in 2022:
- Finland (60.8K cubic meters)
- Hungary (37.8K cubic meters)
Hydrogen Exports in Latvia
For the fourth year in a row, Latvia recorded growth in shipments abroad of hydrogen, which increased by 0.4% to 25K cubic meters in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 73% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.
In value terms, hydrogen exports rose markedly to $55K in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 107% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.
| Export of Hydrogen in Latvia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Estonia | 10.9 | 11.1 | 24.3 | 37.9 | 51.5% |
| Lithuania | 8.6 | 20.6 | 10.7 | 14.2 | 18.2% |
| Russia | N/A | 8.6 | 16.2 | 3.5 | -36.2% |
| Others | N/A | N/A | 0.3 | -0.3 | -200.0% |
| Total | 19.5 | 40.3 | 51.4 | 55.3 | 41.5% |
Top Export Markets for Hydrogen from Latvia in 2022:
- Estonia (19.3K cubic meters)
- Lithuania (4.0K cubic meters)
- Russia (1.2K cubic meters)
This report provides an in-depth analysis of the hydrogen market in Latvia. 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:
- Latvia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Latvia
- 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:
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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