
EU - Hydrogen - Market Analysis, Forecast, Size, Trends and Insights
EU: Hydrogen Market 2022
Hydrogen Market Size in the EU
In 2021, the EU hydrogen market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, recorded a noticeable descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.
Hydrogen Production in the EU
In value terms, hydrogen production reached $X in 2021 estimated in export price. In general, production, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2016 when the production volume increased by 5.7% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.
Hydrogen Exports
Exports in the EU
Hydrogen exports surged to X cubic meters in 2021, picking up by 91% on the previous year's figure. In general, exports, however, showed a perceptible shrinkage. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2021, the exports failed to regain momentum.
In value terms, hydrogen exports soared to $X in 2021. Overall, exports, however, showed a relatively flat trend pattern. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
Exports by Country
Belgium was the largest exporting country with an export of about X cubic meters, which accounted for 60% of total exports. It was distantly followed by the Netherlands (X cubic meters), committing a 27% share of total exports. The following exporters - Germany (X cubic meters) and Sweden (X cubic meters) - each resulted at a 7.3% share of total exports.
Belgium was also the fastest-growing in terms of the hydrogen exports, with a CAGR of +27.8% from 2012 to 2021. Germany (-1.9%), Sweden (-3.3%) and the Netherlands (-12.9%) illustrated a downward trend over the same period. Belgium (+54 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands saw its share reduced by -49.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) were the countries with the highest levels of exports in 2021, together accounting for 92% of total exports.
Among the main exporting countries, Belgium, with a CAGR of +20.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.
Export Prices by Country
In 2021, the export price in the European Union amounted to $X per cubic meter, growing by 19% against the previous year. Export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hydrogen export price increased by +112.2% against 2019 indices. The pace of growth appeared the most rapid in 2020 an increase of 79%. The level of export peaked in 2021 and is expected to retain growth in the near future.
Prices varied noticeably country of origin: the country with the highest price was Germany ($X per cubic meter), while Sweden (less than $X per cubic meter) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.7%), while the other leaders experienced mixed trends in the export price figures.
Hydrogen Imports
Imports in the EU
In 2021, overseas purchases of hydrogen increased by 144% to X cubic meters for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a pronounced shrinkage. Over the period under review, imports reached the peak figure at X cubic meters in 2018; however, from 2019 to 2021, imports failed to regain momentum.
In value terms, hydrogen imports soared to $X in 2021. In general, imports, however, continue to indicate a drastic downturn. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.
Imports by Country
The Netherlands prevails in imports structure, amounting to X cubic meters, which was approx. 72% of total imports in 2021. France (X cubic meters) ranks second in terms of the total imports with a 4.9% share, followed by Austria (4.8%). The following importers - Germany (X cubic meters), Belgium (X cubic meters) and Denmark (X cubic meters) - together made up 10% of total imports.
From 2012 to 2021, average annual rates of growth with regard to hydrogen imports into the Netherlands stood at +13.3%. At the same time, Denmark (+16.1%) and Austria (+1.9%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in the European Union, with a CAGR of +16.1% from 2012-2021. By contrast, Germany (-6.8%), France (-16.1%) and Belgium (-25.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the Netherlands and Denmark increased by +52 and +2.4 percentage points, respectively. Germany (-2.1 p.p.), France (-14.8 p.p.) and Belgium (-39.5 p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the Netherlands ($X) constitutes the largest market for imported hydrogen in the European Union, comprising 67% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.6% share of total imports. It was followed by France, with a 5.2% share.
From 2012 to 2021, the average annual growth rate of value in the Netherlands stood at +16.3%. In the other countries, the average annual rates were as follows: Germany (-4.0% per year) and France (-17.6% per year).
Import Prices by Country
The import price in the European Union stood at $X per cubic meter in 2021, dropping by -5.3% against the previous year. In general, the import price saw a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 37% against the previous year. Over the period under review, import prices hit record highs at $X per cubic meter in 2013; however, from 2014 to 2021, import prices remained at a lower figure.
Prices varied noticeably country of destination: the country with the highest price was Germany ($X per cubic meter), while Denmark ($X per cubic meter) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the other leaders experienced mixed trends in the import price figures.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the hydrogen market in the EU. 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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