According to a new report by UnivDatos, the Middle East & Africa green hydrogen Market is expected to reach USD 2205.33 million in 2032 by growing at a CAGR of 51.8%.

Key Highlights of the Report:

Growing concerns about climate change, supportive government policies, and incentives are accelerating the growth of green hydrogen in the region.

The key potential of green hydrogen in various sectors such as transportation, power generation, chemicals, and others further accentuate its market demand.

Governments providing subsidies for electrolyzer technology are also promoting the green hydrogen production demand.

Countries in MEA, particularly in the Gulf, are increasingly focused on green hydrogen projects specifically to diversify their energy mix, reduce carbon emissions, and strengthen energy security. Across MEA renewable energy is abundant, including solar and wind power, which can be used to power green hydrogen production. With MEA governments setting out clear ambitions to develop hydrogen infrastructure, corporations operating in the clean energy sector are beginning to show interest in the Middle East. For example a joint venture between the South Korean firm Samsung C&T Corporation, owned and operated by Fujairah Power Company F3 LLC, a special purpose company (SPC) jointly owned by the Abu Dhabi National Energy Company (TAQA), and Mubadala Investment Company, as well as Marubeni Corporation and Hokuriku Electric Power Company,39 and will be the largest combined cycle power plant facility in the UAE, with the capacity of powering the equivalent of 380,000 households on clean energy.

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Research and Development Program:

Countries such as UAE, and Saudi Arabia are targeting green and blue hydrogen production of 2.9 million ton/year by 2030 and 4 million tons/year by 2035. Oman, too, aims to produce at least 1 million tons/year of renewable hydrogen by 2030, up to 3.75 million tons/year by 2040 and 8.5 million ton/year by 2050. The country is on track to become the largest exporter of hydrogen in the Middle East by 2030, according to the International Energy Agency.

Moreover, In November 2023, close to 50 clean hydrogen projects were announced in the Middle East have two had broken ground, both in Saudi Arabia: the US$8.4 billion NEOM green hydrogen production facility which is set to be the world’s largest once operational in 2026, and the US$12 billion Jazan IGCC Complex that will produce power, steam and hydrogen.

Conclusion:

In conclusion, Middle East & Africa's initiatives in green hydrogen research and development, spearheaded by government and research institutions, herald a promising future for renewable energy in the region. The government's commitment, exemplified by policies like the National Hydrogen Mission, aims to make the Middle East & Africa a global hub for green hydrogen production and export. The anticipated growth in this field is expected to drive not only energy sustainability but also significant economic and employment benefits. With continuous support and progressive policies, Middle East & Africa's green hydrogen sector is poised for exponential growth, contributing to a cleaner, more sustainable energy landscape globally.

Key Offerings of the Report

Market Size, Trends, & Forecast by Revenue | 2022−2032F.

Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

Market Segmentation – A detailed analysis by electrolyzer, by source and by end-user

Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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