Eastern Asia: Hydrogen Market 2024

Hydrogen Market Size in Eastern Asia

The East Asian hydrogen market expanded significantly to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, posted a resilient expansion. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Hydrogen Production in Eastern Asia

In value terms, hydrogen production rose markedly to $X in 2022 estimated in export price. Overall, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Hydrogen Exports

Exports in Eastern Asia

Hydrogen exports dropped remarkably to X cubic meters in 2022, shrinking by X% on the year before. In general, exports recorded a noticeable slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X cubic meters in 2021, and then contracted dramatically in the following year.

In value terms, hydrogen exports fell rapidly to $X in 2022. Over the period under review, exports, however, saw resilient growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Hong Kong SAR was the largest exporting country with an export of around X cubic meters, which reached X% of total exports. It was distantly followed by China (X cubic meters), mixing up an X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to hydrogen exports from Hong Kong SAR stood at X%. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Hong Kong SAR (X p.p.) and China (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest hydrogen supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%.

Export Prices by Country

The export price in Eastern Asia stood at $X per cubic meter in 2022, growing by X% against the previous year. Over the period under review, the export price recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per cubic meter in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per cubic meter), while Hong Kong SAR amounted to $X per cubic meter.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Hydrogen Imports

Imports in Eastern Asia

In 2022, supplies from abroad of hydrogen increased by X% to X cubic meters for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports recorded a mild increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports reached the peak of X cubic meters. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, hydrogen imports skyrocketed to $X in 2022. Overall, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Hong Kong SAR (X cubic meters) was the largest importer of hydrogen, achieving X% of total imports. It was distantly followed by Taiwan (Chinese) (X cubic meters), South Korea (X cubic meters) and Japan (X cubic meters), together making up a X% share of total imports.

Hong Kong SAR was also the fastest-growing in terms of the hydrogen imports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Taiwan (Chinese) (X%) displayed positive paces of growth. By contrast, Japan (X%) illustrated a downward trend over the same period. Hong Kong SAR (X p.p.), South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) significantly strengthened its position in terms of the total imports, while Japan saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest hydrogen importing markets in Eastern Asia were South Korea ($X), Taiwan (Chinese) ($X) and Hong Kong SAR ($X), together comprising X% of total imports.

In terms of the main importing countries, Hong Kong SAR, with a CAGR of X%, 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 import price in Eastern Asia amounted to $X per cubic meter, with a decrease of X% against the previous year. Overall, the import price, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per cubic meter in 2021, and then fell rapidly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per cubic meter), while Hong Kong SAR ($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 Japan (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :