UK Hydrogen Market Growth Forecast and Trade Analysis
Key Ideas
- The UK hydrogen market is projected to grow in both volume and value due to increasing demand, with a forecasted CAGR of +1.8% for volume and +2.7% for value by 2035.
- Hydrogen consumption in the UK saw a downturn in 2024, but the market is expected to start an upward trend over the next decade, reaching 150M cubic meters by 2035.
- Imports of hydrogen into the UK have increased notably, with the Netherlands being the largest supplier in terms of both volume and value, showing positive growth trends.
- Export of hydrogen from the UK surged by 108% in 2024, with a noticeable decline overall, but significant potential for growth in international trade.
IndexBox's report on the United Kingdom's hydrogen market indicates a positive outlook for the industry. The market is poised for growth in both volume and value, driven by increasing demand. By 2035, the market is projected to reach $46 million, with a forecasted CAGR of +1.8% for volume and +2.7% for value. Despite a downturn in consumption and production in 2024, the market is expected to show an upward trend over the next decade, reaching 150 million cubic meters by 2035. Import of hydrogen into the UK has notably increased, with the Netherlands leading as the largest supplier in terms of both volume and value. Export of hydrogen from the UK surged by 108% in 2024, indicating potential for growth in international trade. The report highlights the importance of market analysis, consumption trends, production volume, import prices, and export statistics in understanding the dynamics of the UK hydrogen market and its contribution to economic growth.
Topics
Middle East
Market Analysis
Economic Growth
Forecast
Consumption Trends
Production Volume
Import Prices
Trade Analysis
Export Statistics
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