The Middle East & Africa green hydrogen market is expected to grow from US$ 147.16 million in 2022 to US$ 2,377.50 by 2030. It is estimated to grow at a CAGR of 41.6% from 2022 to 2030.
Technological Advancements in Green Hydrogen Drives Middle East & Africa Green Hydrogen Market
Electrolysis is used to produce green hydrogen by splitting water molecules into hydrogen and oxygen using electricity. Technological advancements in electrolysis contribute to improving the efficiency, cost-effectiveness, and scalability of the production, storage, and utilization of green hydrogen. Enhanced electrolyzer designs, advanced catalyst materials, and optimized operating conditions are a few factors that might lead to higher energy conversion efficiencies, shorter response times, and longer equipment lifetimes. Thus, technological advancements associated with green hydrogen are expected to fuel the market growth during the forecast period.
Middle East & Africa Green Hydrogen Market Overview
The Middle East & Africa (MEA) is home to a few of the world's most significant hydrogen production plans such as NEOM Helios, Oman Acme Group green hydrogen hub and many more. With abundant renewables, geographical convenience, and vast ongoing investments in logistical infrastructure, the Middle East and Africa has the potential for scalable green hydrogen generation and global exportation to meet rising global demand. Countries in the region provide high solar irradiation levels. Governments of these countries are significantly investing in hydrogen production capacity to diversify their economies, generate jobs, and become leaders in the energy transition. Most green hydrogen projects are still in the planning stages, while there are two projects that are under construction, namely, the NEOM Helios and the Egyptian Ain Sokhna complex.
Middle East & Africa Green Hydrogen Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Green Hydrogen Market Segmentation
The Middle East & Africa green hydrogen market is segmented into technology, renewable source, end-use industry, and country.
Based on technology, the Middle East & Africa green hydrogen market is bifurcated into alkaline electrolysis and PEM electrolysis. The alkaline electrolysis segment accounted a larger share of the Middle East & Africa green hydrogen market in 2022.
By renewable source, the Middle East & Africa green hydrogen market is divided into wind energy and solar energy. The solar energy segment held a larger share of the Middle East & Africa green hydrogen market in 2022.
By end-use industry, the Middle East & Africa green hydrogen market is segmented into chemical, power, food & beverages, medical, petrochemicals, and others. In 2022, the power segment held a largest share of the Middle East & Africa green hydrogen market.
Based on country, the Middle East & Africa green hydrogen market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa green hydrogen market in 2022.
Air Products & Chemicals Inc, Cummins Inc, Engie SA, L’Air Liquide SA, Linde Plc, Nel ASA, Siemens Energy AG, and Toshiba Energy Systems & Solutions Corp are some of the leading companies operating in the Middle East & Africa green hydrogen market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 147.16 Million |
| Market Size by 2030 | US$ 2,377.50 Million |
| CAGR (2022 - 2030) | 41.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Green Hydrogen Market is valued at US$ 147.16 Million in 2022, it is projected to reach US$ 2,377.50 Million by 2030.
As per our report Middle East & Africa Green Hydrogen Market, the market size is valued at US$ 147.16 Million in 2022, projecting it to reach US$ 2,377.50 Million by 2030. This translates to a CAGR of approximately 41.6% during the forecast period.
The Middle East & Africa Green Hydrogen Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Green Hydrogen Market report:
The Middle East & Africa Green Hydrogen Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Green Hydrogen Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Green Hydrogen Market value chain can benefit from the information contained in a comprehensive market report.
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