Market revenue in 2023 | USD 3.4 billion |
Market revenue in 2030 | USD 5.5 billion |
Growth rate | 7% (CAGR from 2023 to 2030) |
Largest segment | Ammonia production |
Fastest growing segment | Transportation |
Historical data | 2018 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD billion |
Market segmentation | Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation |
Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Cummins Inc, Iwatani Corp, Linde PLC, Nippon Sanso Holdings Corp, Tokyo Gas Co Ltd |
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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 generation market will help companies and investors design strategic landscapes.
Ammonia production was the largest segment with a revenue share of 20.59% in 2023. Horizon Databook has segmented the Saudi Arabia hydrogen generation market based on methanol production, ammonia production, petroleum refinery, transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia produced 4.23 MMcf of natural gas in 2021. Significant gas production in the country is anticipated to propel the implementation of hydrogen generation technologies which is thereby expected to boost the market growth over the forecast period.
Industry participants are following several strategic initiatives such as mergers & acquisitions, and partnerships & collaborations etc. to enhance their foothold in the hydrogen generation market. For instance, in January 2019, Saudi Aramco signed an agreement with Air Products to jointly-build first hydrogen refueling station.
Air Products’ SmartFuel hydrogen technology will be deployed across the station to supply high-purity compressed hydrogen to the pilot fleet of fuel cell vehicles. Such initiatives are bound to positively influence the industry landscape across the region.
Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia hydrogen generation market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia hydrogen generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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