Middle East & Africa Hydrogen Energy Storage Market Size & Outlook
Middle East & Africa hydrogen energy storage market, 2018-2030 (US$M)
Related Markets
MEA hydrogen energy storage market highlights
- The MEA hydrogen energy storage market generated a revenue of USD 571.8 million in 2023.
- The market is expected to grow at a CAGR of 1.3% from 2024 to 2030.
- In terms of segment, industrial was the largest revenue generating application in 2023.
- Residential is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 571.8 million |
| Market revenue in 2030 | USD 626.7 million |
| Growth rate | 1.3% (CAGR from 2023 to 2030) |
| Largest segment | Industrial |
| Fastest growing segment | Residential |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Commercial, Industrial |
| Key market players worldwide | Lincoln Electric Holdings Inc, Air Products & Chemicals Inc, Cummins Inc, Engie SA, ITM Power PLC, Iwatani Corp, Linde PLC, NEL ASA, Steelhead Composites |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.6% of the global hydrogen energy storage market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 5,969.6 million by 2030.
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Hydrogen Energy Storage Market Scope
Hydrogen Energy Storage Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa hydrogen energy storage market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to hydrogen energy storage market will help companies and investors design strategic landscapes.
Industrial was the largest segment with a revenue share of 40.07% in 2023. Horizon Databook has segmented the Middle East & Africa hydrogen energy storage market based on residential, commercial, industrial covering the revenue growth of each sub-segment from 2018 to 2030.
The ever-increasing environmental concerns are expected to drive the demand for hydrogen energy storage market in the Middle East & Africa. Favorable regulatory policies along with sizeable government investments will further pave way for the adoption of hydrogen energy storage technologies in the region.
For instance, in February 2018, Dubai Electricity and Water Authority (DEWA) signed a MoU with Siemens and Expo 2020 Dubai regarding the pilot project development of solar-driven hydrogen electrolysis facility at a solar park in Dubai.
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Target buyers of Middle East & Africa hydrogen energy storage market databook
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Our clientele includes a mix of hydrogen energy storage market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa hydrogen energy storage market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa hydrogen energy storage market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
MEA hydrogen energy storage market size, by country, 2018-2030 (US$M)
Middle East & Africa Hydrogen Energy Storage Market Outlook Share, 2023 & 2030 (US$M)
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