Saudi Arabia Power-to-x Market Size & Outlook, 2024-2030
Saudi Arabia power-to-x market, 2018-2030 (US$M)
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Saudi Arabia power-to-x market highlights
- The Saudi Arabia power-to-x market generated a revenue of USD 3.8 million in 2024 and is expected to reach USD 11.4 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 20.7% from 2025 to 2030.
- In terms of segment, power-to-h2 was the largest revenue generating technology in 2024.
- Power-to-H2 is the most lucrative technology segment registering the fastest growth during the forecast period.
Power-to-x market data book summary
| Market revenue in 2024 | USD 3.8 million |
| Market revenue in 2030 | USD 11.4 million |
| Growth rate | 20.7% (CAGR from 2025 to 2030) |
| Largest segment | Power-to-h2 |
| Fastest growing segment | Power-to-H2 |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Power-to-H2, Power-to-CO/Syngas/Formic Acid, Power-to-NH3, Power-to-Methane, Power-to-Methanol, Power-to-H202 |
| Key market players worldwide | Air Liquide SA, Alfa Laval AB, Copenhagen Infrastructure Partners, Engie SA, ITM Power PLC, Linde PLC, Mitsubishi Corp, Siemens Energy, Thyssenkrupp AG, Valmet Corp |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.1% of the global power-to-x market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia power-to-x market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 11.4 million by 2030.
Power-to-h2 was the largest segment with a revenue share of 52.63% in 2024. Horizon Databook has segmented the Saudi Arabia power-to-x market based on power-to-h2, power-to-co/syngas/formic acid, power-to-nh3, power-to-methane, power-to-methanol, power-to-h202 covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia's Vision 2030 outlines its goals to diversify its economy and significantly increase its share of renewable energy. Power-to-X (PtX) technologies, especially green hydrogen production, are central to reducing the nation's dependence on oil. The nation's investment in PtX technologies is expected to transform the energy sector and position Saudi Arabia as a global leader in clean energy.
This strategic shift supports long-term economic diversification and contributes to the global transition to a low-carbon economy. Saudi Arabia is advancing several prominent PtX projects, with the NEOM mega-city standing out as a prime example. NEOM will feature one of the world's largest green hydrogen production facilities.
The NEOM project illustrates Saudi Arabia's dedication to renewing Arabia's innovation and sustainability. Through such ambitious initiatives, Saudi Arabia aims to attract global investment, drive technological advancements, and establish a significant presence in the international clean energy market.
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Power-to-X Market Scope
Power-to-X Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia power-to-x market size, by technology, 2018-2030 (US$M)
Saudi Arabia Power-to-X Market Outlook Share, 2024 & 2030 (US$M)
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