H1 2023: During H1 2023, the key producers of Hydrogen were Linde, Air Liquide, and Air Products. However, Air Products was the top producer of Hydrogen during H1 2023. January 2023 witnessed weak hydrogen prices across Europe. Oversupply of natural gas resulted in the lowering of the production cost. However, the price slightly hiked near mid-February 2023. Parallel to this, downstream products ammonia prices fell. However, in March 2023, there was weak demand for hydrogen and oversupply in the region which caused prices to plummet again. In the Netherlands, Hydrogen prices faced a southwards direction from February 2023 as there was a decrease in demand for hydrogen from the downstream industries such as the refining and energy industry. Currency fluctuation of EUR vs. USD also affected the prices of hydrogen in Netherlands . The prices of Hydrogen kept declining in Europe till the end of H1 2023. It was due to the drop in energy costs as there was a decrease in the natural gas feedstock, which reduced the cost of the production of Hydrogen. Additionally, the downstream market had poor demand, particularly from the refining and power sectors, which restrained the market's expansion. Additionally, despite dropping downstream demand, there were stable imports from the global market and a sufficient amount of inventory in the European market.
The Europe Hydrogen market has projected an expansion to reach approximately 9.2 million tonnes in 2022 and is expected to grow at an impressive CAGR of 4.13% during the forecast period until 2032. Hydrogen-based power generation, which is both cost-effective and sustainable, is contributing to a significant level of demand.
Hydrogen is a colorless and abundant gas. Almost hydrogen is never present in its pure form; it is always chemically bonded. It must initially be produces unlike natural gas, and several energy sources are employed for this. Its combustion doesn't release any pollutants, making it a carbon-free energy source. It is referred to as CO2-free hydrogen and serves as a storage option for renewable electricity when it is produced using renewable energy. Hydrogen is a clean fuel and an alternative to methane. Hydrogen can be transferred in a variety of ways, including using existing gas networks. Transport is also feasible in other forms, such as ammonia.
The market driving factor of Hydrogen is as a clean alternative to conventional fuels. With Europe’s goal towards decarbonizing, hydrogen holds a substantial position in the fuel market. Hydrogen can be easily transported by the means of pipelines. Countries like Spain, Germany, and the Netherlands are aiming towards exceeding pipeline in the forthcoming years and have already launched National Hydrogen strategies. In the forthcoming years, developments in efficient electrochemical compression of hydrogen will be done for transporting maximum gas in the least volume. The Europe Hydrogen market will most likely reach 14 million tonnes by 2032.
Based on demand by region, the Hydrogen market is segregated into Northern Europe, Southern Europe, Eastern Europe, and Western Europe. Among these regions, Western Europe is dominating the Hydrogen market. In 2021, Western Europe accounted for consumption of approximately 41% of the hydrogen market with major consuming countries being France, Belgium, and Germany.
Based on the end-user industry, the Europe Hydrogen market is segregated into Refining, Ammonia, Chemical, Fuel, and Others. As of 2022, the majority of hydrogen is used by the Refining Industry with a market share of 50%. Hydrogen (H2) is crucial for refining operations in the petrochemical industry. Companies use this gas to remove Sulphur from the fuels using a chemical separation process known as hydrodesulphurization. Refining is expected to remain the major application of hydrogen even in the forecasted period.
Major players in the production of Europe Hydrogen are Linde, Air Liquide, Air Products, Sapio, Praxair, Petrochemia Plock, Kawasaki, Norsk Hydro, Skeljungur, SIAD, Oy Woikoski, Ansaldo Energia, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Hydrogen which covers production, demand and supply of Hydrogen market in the Europe.
• To analyse and forecast the market size of Hydrogen
• To classify and forecast Europe Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in the Europe.
To extract data for Europe Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Europe Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand in Europe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Hydrogen across the Europe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Europe Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
9.2 million tonnes
Market size Volume by 2032
14 million tonnes
Growth Rate
CAGR of 4.13% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: (Refining, Ammonia, Chemical, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Northern Europe, Southern Europe, Eastern Europe, and Western Europe.
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Hydrogen market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Hydrogen.
3. Capacity By Location
To better understand the regional supply of Hydrogen by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Hydrogen by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Refining, Ammonia, Chemical, Fuel, and Others) are creating a market and the forecast for the growth of the Hydrogen market.
7. Demand by Region
Analyzing the change in demand of Hydrogen in different regions, i.e., Northern Europe, Southern Europe, Eastern Europe, and Western Europe, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Hydrogen. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrogen.
10. Company Share
Figure out what proportion of the market share of Hydrogen is currently held by leading players across the Europe.
11. Country-wise Export
Get details about quantity of Hydrogen exported by major countries.
12. Country-wise Import
Get details about quantity of Hydrogen imported by major countries.
13. Manufacturing Process
Discover insights into the intricate manufacturing process of Hydrogen.
14. Policy and Regulatory Landscape
Gain a comprehensive understanding of the policy and regulatory landscape within the Hydrogen market.
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of force majeure, affects the plant's operating rate for the given duration. Disruption tracker gives a clear insight
into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What is the expected Europe market size of Hydrogen in terms of volume for 2032?
Ans:
The Europe market size of Hydrogen is anticipated to flourish and reach approximately 14 million tonnes by 2032.
Q2.
Which end-use industry is dominating the Europe Hydrogen market?
Ans:
The Refining industry is dominating the Hydrogen market and held a market share of roughly 50% in 2022.
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