Green hydrogen is a type of hydrogen produced through the electrolysis of water using renewable energy sources. The process of electrolysis splits water molecules into hydrogen and oxygen atoms using an electric current. The hydrogen produced can be used in a variety of ways, including as a fuel for vehicles or as a way to store energy. A key advantage of green hydrogen is that it does not produce greenhouse gas emissions when used. This is in contrast to traditional hydrogen, which is produced from natural gas and emits carbon dioxide when burned. Green hydrogen can therefore help to reduce greenhouse gas emissions and combat climate change.
Several green hydrogen projects are being lined up in countries such as Oman, Egypt, Saudi Arabia, Morocco, and UAE amongst others. At present, there are over 45 known green hydrogen and ammonia projects across the MENA region, with an expected total budget of over USD 92 billion.
Market Trends and Drivers
Rise in investment in Green Hydrogen is anticipated to augment industry growth.
The Government is focused on decarbonizing the MENA economy, in which green hydrogen would play a crucial role. Saudi Arabia and the United Arab Emirates are portraying themselves as frontrunners. For instance, in 2021, Saudi Arabia formed a strategic green hydrogen development alliance with Germany to generate, process, utilize, and transport clean hydrogen, marking a significant step forward as the Kingdom ramps up its green hydrogen production. “The development of green hydrogen is now being driven mostly by hydrogen developers such as NEOM, ACWA Power, Masdar, and OQ.” These players are aided by the public sector, which is responsible for enabling factors such as hydrogen valleys, access to technology, clear legislation, and the availability of human resources.
The International Renewable Energy Agency projects that by 2050, hydrogen and its derivatives will be able to supply 12% of the world’s energy needs, making green hydrogen one of the major pillars of the energy transition. The UAE aims to acquire 25% of the worldwide hydrogen market, while Saudi Arabia hopes to become the world’s largest provider. Oman and Egypt are two other countries in the region making significant improvements. As of now, Siemen’s several green hydrogen projects across the Middle East and Africa are in the works. More than 40 investments totaling more than $20 billion have been announced for the period up to 2030, in addition to numerous smaller projects. Countries like Saudi Arabia have announced massive investments in hydrogen. Dubai and Qatar are also investing in hydrogen and solar panels, which again are an enabler for green hydrogen production.
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Further, the green hydrogen cost development by technology is declining year-on-year. This is further expected to lead to the demand for green hydrogen market.
Rising demand for hydrogen in the fuel cell-based automobile sector is anticipated to stimulate industry growth.
The automotive and transportation sectors are currently experiencing rapid technical improvement as a result of numerous government efforts to minimize carbon emissions from vehicles. Moreover, large investments have been made in electric and hydrogen fuel cell vehicles as a result of growing environmental concerns and the quick emergence of inventive hydrogen fuel stations around the MENA region. For instance, in April 2022, PowerTap Hydrogen Capital Corp., announced partnership with Viridian Hydrogen UAE to help establish a hydrogen ecosystem in UAE and throughout the middle east to meet the demand for alternative fossile fuel. Similarly, Mitsubishi Power is involved in exciting hydrogen power projects in MENA, such as at Alexandria National Refining and Petrochemicals Company (ANRPC) in Egypt, enabling a refinery boiler to fire up to 100% hydrogen by the end of next year. Such aforementioned factors anticipated to positively influence industry growth. Furthermore, in order to address the rising demand for hydrogen fuel from a variety of end-use sectors, manufacturers are primarily concentrating on expanding the supply of FCEVs in the Middle East. For instance, in September 2020, Hyundai Motor exported four fuel cell electric vehicles to Saudi Arabia, its first-ever FCEV exports to the Middle East.
Demand for carbon-free steel is expected to increase in the coming year as people become more aware of the benefits of using carbon-free products. The increasing use of carbon-free steel in a variety of applications, such as construction projects, automobiles, electrical appliances, cargo ships, and surgical scalpels, is likely to drive the market over the forecast period.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Middle East/North Africa (MENA) Green Hydrogen Market Segmental Overview
The report analyses the Middle East/North Africa (MENA) green hydrogen market based on technology, application, and country.
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Middle East/North Africa (MENA) Green Hydrogen Market by Technology
Based on technology, it is segmented into proton exchange membrane (PEM) electrolyzer, alkaline electrolyzer, and others. Among these, alkaline electrolyzer segment accounted for the largest market share in 2021 due to it being the conventional electrolyzer technology used in green hydrogen projects. As compared to PEM electrolyzers, alkaline electrolyzers use a liquid alkaline solution of potassium or sodium hydroxide as its electrolyte and have longer running hours. Additionally, alkaline electrolyzers have lower power and current densities with an operating temperature range of 100 to 105 degrees Celsius compared to 70-to-90-degree Celsius ranges of PEM electrolyzers. Furthermore, alkaline electrolyzes are projected to rise due to their low cost as compared to PEM electrolyzers are some of the major factors that may have a beneficial impact on segmental growth.
Middle East/North Africa (MENA) Green Hydrogen Market by Application
Based on the application, the Middle East/North Africa (MENA) green hydrogen market is divided into power generation, chemical feedstock, transportation, and others. Of these above transportation segment is set to witness a significant CAGR through 2040. This growth is attributed to transportation, hydrogen can be used in fuel cells or internal combustion engines. Because of its energy efficiency, a hydrogen fuel cell is two to three times more efficient than an internal combustion engine fueled by gasoline. For instance, Alstom pioneers hydrogen mobility for rail to forge a sustainable future for transportation in the Middle East and North Africa. Similarly, Saudi Arabia signed eight preliminary agreements with the planned carbon-free city of Neom, the Red Sea Development Co. and other key national entities for the development of hydrogen fuel cell-based transportation and production of sustainable jet fuel, according to the country’s energy ministry.
Major Players in the Middle East/North Africa (MENA) Green Hydrogen Market
The key players in the Middle East/North Africa (MENA) green hydrogen market are Hydrogen System, Air Liquide, Siemens Energy (Siemens AG), ENGIE, Cummins, Air Product, Thyssenkrupp, Linde plc., McPhy Energy, and Aashi Kasei Corporation, CWP Global, Total Eren, OQ, InterContinental Energy, EnerTech, Scatec, ACME, Globeleq, K&K Group, EDF, Renew Power, Hassan Allam Holding, Tatweer, among others.
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
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