Northern America: Hydrogen Market 2024

Hydrogen Market Size in Northern America

The North American hydrogen market totaled $X in 2023, leveling off at the previous year. Over the period under review, consumption, however, enjoyed a buoyant increase. The level of consumption peaked at $X in 2021; afterwards, it flattened through to 2023.

Hydrogen Production in Northern America

In value terms, hydrogen production stood at $X in 2023 estimated in export price. In general, production continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of production peaked at $X in 2021; afterwards, it flattened through to 2023.

Hydrogen Exports

Exports in Northern America

In 2023, shipments abroad of hydrogen was finally on the rise to reach X cubic meters for the first time since 2020, thus ending a two-year declining trend. Total exports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, hydrogen exports skyrocketed to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada was the major exporting country with an export of about X cubic meters, which resulted at X% of total exports. It was distantly followed by the United States (X cubic meters), committing a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to hydrogen exports from Canada stood at X%. At the same time, the United States (X%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2023. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) remains the largest hydrogen supplier in Northern America, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Canada stood at X%.

Export Prices by Country

In 2023, the export price in Northern America amounted to $X per cubic meter, waning by X% against the previous year. Overall, the export price recorded a pronounced decrease. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per cubic meter in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per cubic meter), while the United States stood at less than $X per cubic meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%).

Hydrogen Imports

Imports in Northern America

In 2023, purchases abroad of hydrogen decreased by X% to X cubic meters, falling for the second year in a row after three years of growth. Total imports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X cubic meters in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, hydrogen imports surged to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the largest importing country with an import of around X cubic meters, which recorded X% of total imports. It was distantly followed by Canada (X cubic meters), creating a X% share of total imports.

The United States was also the fastest-growing in terms of the hydrogen imports, with a CAGR of X% from 2012 to 2023. At the same time, Canada (X%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported hydrogen in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with an X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in the United States stood at X%.

Import Prices by Country

In 2023, the import price in Northern America amounted to $X per cubic meter, jumping by X% against the previous year. Over the period under review, the import price, however, saw a mild setback. Over the period under review, import prices hit record highs at $X per cubic meter in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per cubic meter), while Canada totaled $X per cubic meter.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform