Europe: Hydrogen Market 2024

Hydrogen Market Size in Europe

In 2022, the Europe hydrogen market increased by X% to $X, rising for the second year in a row after three years of decline. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Hydrogen Production in Europe

In value terms, hydrogen production skyrocketed to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Hydrogen Exports

Exports in Europe

Hydrogen exports surged to X cubic meters in 2022, picking up by X% compared with the year before. Over the period under review, exports showed a measured expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of export peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, hydrogen exports surged to $X in 2022. In general, exports showed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Belgium (X cubic meters) represented the largest exporter of hydrogen, achieving X% of total exports. It was distantly followed by the Netherlands (X cubic meters), committing a X% share of total exports. The following exporters - Germany (X cubic meters), Sweden (X cubic meters) and France (X cubic meters) - together made up X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Belgium ($X) remains the largest hydrogen supplier in Europe, comprising X% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

In Belgium, hydrogen exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the Netherlands (X% per year) and Germany (X% per year).

Export Prices by Country

In 2022, the export price in Europe amounted to $X per cubic meter, with an increase of X% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, 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 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Hydrogen Imports

Imports in Europe

In 2022, the amount of hydrogen imported in Europe surged to X cubic meters, growing by X% compared with the year before. Over the period under review, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydrogen imports skyrocketed to $X in 2022. In general, imports showed a tangible expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands dominates imports structure, recording X cubic meters, which was approx. X% of total imports in 2022. Denmark (X cubic meters) held the second position in the ranking, followed by France (X cubic meters). All these countries together took near X% share of total imports. Belgium (X cubic meters), Austria (X cubic meters) and Luxembourg (X cubic meters) took a little share of total imports.

Imports into the Netherlands increased at an average annual rate of X% from 2012 to 2022. At the same time, Denmark (X%), Austria (X%) and Luxembourg (X%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2022. By contrast, France (X%) and Belgium (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands and Denmark increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) constitutes the largest market for imported hydrogen in Europe, comprising X% of total imports. The second position in the ranking was held by France ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

In the Netherlands, hydrogen imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (X% per year) and Austria (X% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per cubic meter, dropping by X% against the previous year. Overall, the import price showed a noticeable shrinkage. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, import prices attained the maximum at $X per cubic meter in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

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 the Netherlands ($X per cubic meter), while Denmark ($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 the Netherlands (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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