The Spain Hydrogen market demand stood at roughly 1950 thousand tonnes in 2023 and is expected to grow at a CAGR of 3.2% during the forecast period until 2034.
Hydrogen plays a crucial role in the ammonia industry, exemplified by the Haber-Bosch process that combines hydrogen and nitrogen to produce ammonia. This ammonia is widely utilized as a vital component in fertilizers. Additionally, hydrogen is indispensable in the refining of methanol, which serves as a key resource for various chemical products. Moreover, hydrogen is heavily relied upon in the oil refining process, where it is instrumental in transforming crude oil into more practical fuels. During refining, crude oil is introduced to facilities, and hydrogen is typically incorporated into the mixture. The refining of oil involves the removal of sulphur until it reaches acceptable levels for the desired fuel. Hydrogen forms bonds with sulphur, resulting in hydrogen Sulfide, which can then be extracted from the fuel at later stages in the refining process. Hydrogen presently finds applications in industrial processes, and powers vehicles through fuel cells for electricity generation. Operators of various natural gas-fired power plants are considering hydrogen as a potential supplement or replacement for natural gas.
The factors influencing the Hydrogen market in Spain are predominantly influenced by various end-use sectors. Chiefly, hydrogen is utilized in refineries to reduce the sulphur content of diesel, and this particular application currently commands the largest share in the hydrogen market. Spain is poised to experience a surge in hydrogen demand and production in the forecast period, driven by several factors that highlight the country's commitment to the hydrogen sector. The Spanish government has been proactive in supporting hydrogen initiatives. The focus on green hydrogen aligns with Spain's broader energy transition goals and commitment to reducing carbon emissions. The government's support includes financial allocations and regulatory measures to incentivize the development of hydrogen infrastructure and production capacity. The European Union's ambitious targets for green hydrogen production and its emphasis on clean energy further amplify Spain's role in the hydrogen surge. With Spain's commitment to renewable energy and a supportive regulatory environment, the forecast period is expected to witness a substantial increase in hydrogen activities, making Spain a key player in the evolving hydrogen market. Initiatives like Spain’s Hydrogen Roadmap that outlines a Vision for 2030 and 2050, setting ambitious national targets for 2030 that envision achieving an installed capacity of 4 GW for electrolyzers is one such initiative. It establishes key milestones across the industrial, mobility, and electricity sectors, requiring estimated investments of EUR 8,900 million between the period of 2020 and 2030. Spain's abundant renewable potential emerges as a significant opportunity for advancing these technologies and fostering the growth of the domestic business sector. Owing to these reasons, Spain Hydrogen market is likely to reach roughly 2760 thousand tonnes in 2034.
Based on the end-user industry, the Spain Hydrogen market is segmented into Refining, Ammonia, Chemical, Fuel, and Others. As of 2023, the Refining Industry dominates hydrogen consumption, holding a significant market share of 51%. Also, Ammonia industry also holds significant Spain Hydrogen market share. Apart from its role in ammonia production, hydrogen also plays a crucial role in the production of methanol. Methanol serves predominantly as a chemical building block, contributing to the synthesis of various chemical compounds, fuels, and additives.
Major players in the Spain Hydrogen market are Air Liquide, Air Products, and Linde plc. Other players in the global Hydrogen market are Sinopec, Flint Hills Resources Lp, Bp West Coast Products Llc, Valero, Phillips 66 Company, Martinez Refining Co Llc, Hyundai-Wison, Deokyang, Delaware City Refining Co Llc, Cenex Harvest States Coop, Wrb Refining Lp, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Spain Hydrogen which covers production, demand and supply of Hydrogen market in Spain.
• To analyse and forecast the market size of Spain Hydrogen
• To classify and forecast Spain Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in Spain.
To extract data for Spain Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Spain Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand across the Spain region by analysing the volume of Hydrogen consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Spain Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
1950 thousand tonnes
Market size Volume by 2034
2760 thousand tonnes
Growth Rate
CAGR of 3.2% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in thousand tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Foreign Trade, Company Share, Manufacturing Process.
Segments covered
By End-Use: (Refining, Ammonia, Chemical, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
Madrid, Extremadura & Castilla, North Spain, Aragon & Catalonia, and Andalusia, Murcia & Valencia
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Market Data & Insights
Table of Content
1. Industry Market Size
It is an essential metric for market analysis, as it provides insights into the overall size and growth potential of Hydrogen market in terms of value and volume.
2. Capacity By Company
On our online platform, you can stay up to date with essential manufacturers and their current and future operation capacity on a practically real-time basis for Hydrogen.
3. Capacity By Location
To better understand the regional supply of Hydrogen by analyzing its manufacturers' location-based capacity.
4. Plant Operating Efficiency
To determine what percentage manufacturers are operating their plants or how much capacity is being currently used.
5. Production By Company [Quarterly Update]
Study the historical annual production of Hydrogen by the leading players and forecast how it will grow in the coming years.
6. Demand by End- Use [Quarterly Update]
Discover which end-user industry (Refining, Ammonia, Chemical, Fuel, and Others) are creating a market and the forecast for the growth of the Hydrogen market.
7. Demand by Region
Analyzing the change in demand of Hydrogen in different regions, i.e., Madrid, Extremadura & Castilla, North Spain, Aragon & Catalonia, and Andalusia, Murcia & Valencia, that can direct you in mapping the regional demand.
8. Demand by Sales Channel (Direct and Indirect)
Multiple channels are used to sell Hydrogen. Our sales channel will help in analyzing whether distributors and dealers or direct sales make up most of the industry's sales.
9. Demand-Supply Gap
Determine the supply-demand gap to gain information about the trade surplus or deficiency of Hydrogen.
10. Company Share
Figure out what proportion of the market share of Hydrogen is currently held by leading players across Spain.
11. Country-wise Export
Get details about quantity of Hydrogen exported by major countries.
12. Country-wise Import
Get details about quantity of Hydrogen imported by major countries.
13. Manufacturing Process
Discover insights into the intricate manufacturing process of Hydrogen.
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into the worldwide outages affecting the commodity of interest. With every shutdown, it also reflects the impact on
supply of the product in the market at a Global level.
What was the size of Spain Hydrogen market in terms of volume in 2023?
Ans:
The size of Spain Hydrogen market has grown significantly in the historic period and reached approximately 1950 thousand tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of Hydrogen?
Ans:
Refining industry is the leading consumer of Hydrogen.
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Ans:
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