Africa's Hydrogen Market Growth and Consumption Trends
Key Ideas
- Africa's hydrogen market is expected to show a steady upward consumption trend with a forecasted CAGR of +1.9% in volume and +2.7% in value from 2024 to 2035.
- South Africa leads in both consumption and production of hydrogen in Africa, significantly surpassing other countries in volume and value terms.
- The per capita hydrogen consumption in Gambia is notably high compared to other African countries, reflecting varying consumption patterns across the continent.
- Despite a slight decrease in hydrogen imports in 2024, overall imports in Africa continue to show an upward trend, indicating growing demand for hydrogen in the region.
IndexBox has released a report forecasting significant growth in Africa's hydrogen market, driven by increasing demand across various industries on the continent. Consuming 15 million cubic meters of hydrogen in 2024, Africa is expected to see a rise in consumption, reaching 19 million cubic meters by 2035, with a CAGR of +1.9%. In value terms, the market is projected to reach $5.6 million by 2035. South Africa leads in both consumption and production of hydrogen, with the largest volume and value share. Notably, Gambia has the highest per capita hydrogen consumption. Despite a slight decrease in imports in 2024, Africa's hydrogen imports continue to expand, indicating a growing market. The report highlights Nigeria as the largest importer of hydrogen in 2024. Overall, the outlook for Africa's hydrogen market is positive, with steady growth and increasing demand expected over the next decade.