Middle East Blue Hydrogen Market: Current Analysis and Forecast (2023-2030)
$3999 – $6999
Emphasis on Technology (steam methane reforming, autothermal reforming, partial oxidation); Industry (ammonia production, methanol production, petroleum refining, other); End-Users (chemical, refinery, power generation, others); and Country
The Middle East Blue Hydrogen Market was valued at 3.8 million in 2022 and is expected to grow at a steady rate of around 8.6% during the forecast period (2023-2030) owing to the growing interest in developing a hydrogen economy coupled with the rising industrial demands of hydrogen for their processes. Middle East Blue Hydrogen is a type of hydrogen produced from natural gas through a process called steam methane reforming (SMR) or autothermal reforming (ATR). The term “blue” refers to the fact that hydrogen is produced with carbon capture and storage (CCS) technology to reduce carbon dioxide (CO2) emissions significantly. The Middle East area holds extensive natural gas deposits, which encompass the largest gas field globally, known as the South Pars/North Dome Field. Saudi Arabia and Qatar are positioned within the top six nations worldwide when it comes to confirmed gas reserves. At present, the Middle East possesses about 10% of the worldwide capacity for Carbon Capture, Utilization, and Storage (CCUS).
Some of the major players operating in the market include Bankset Energy, GREENRAIL, Jakson Group, LG Electronics, Central Electronics Limited, WorldSolar, Trina Solar, KYOCERA Corporation, Canadian Solar, AXITEC, LLC.
Insights Presented in the Report
“Amongst Technology, steam methane reforming category to witness significant market growth during the forecast period.”
Based on the technology, the market is segmented into steam methane reforming, autothermal reforming, and partial oxidation. Among these, the steam methane reforming segment is leading the market due to the rising demand of cost-effective methods to produce hydrogen on a large scale. This method involves using natural gas (methane) and steam in a process that extracts hydrogen. As natural gas is abundant and relatively affordable, it makes Middle East Blue Hydrogen production economically attractive and hence accelerates the market.
“Amongst industry, the ammonia production to hold a significant CAGR in the market in 2022.”
Based on the industry, the market is bifurcated into ammonia production, methanol production, petroleum refining, and others. As countries strive to adopt cleaner energy sources, there is an increasing need for sustainable fuels and chemicals. Ammonia serves as a valuable carrier of hydrogen, making it an essential component of the Middle East Blue Hydrogen market’s growth, offering a practical solution to both energy storage and transportation challenges while supporting a transition to a greener future and therefore holds a considerable share of the Middle East Blue Hydrogen market.
“Middle East is currently gaining attention in the market.”
The blue hydrogen market in the Middle East region is currently emerging and gaining attention. Countries in the Middle East are exploring the potential of blue hydrogen as a cleaner alternative to traditional fossil fuels. The region’s abundant natural gas resources make it well-suited for blue hydrogen production, which involves capturing carbon emissions during the hydrogen production process. Several Middle Eastern countries, including Saudi Arabia, the United Arab Emirates, Qatar and Oman, have started to invest in blue hydrogen projects and partnerships. These initiatives aim to leverage existing natural gas infrastructure to produce hydrogen with reduced carbon emissions. The Middle East’s strategic geographic location and established energy industry could position it as a significant player in the blue hydrogen market.
Middle East Blue Hydrogen Market Report Coverage
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive country level analysis of the industry.
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|2.1.||Research Process of the Middle East Blue Hydrogen Market|
|2.2.||Research Methodology of the Middle East Blue Hydrogen Market|
|5||IMPACT OF COVID-19 ON THE MIDDLE EAST BLUE HYDROGEN MARKET|
|6||MIDDLE EAST BLUE HYDROGEN MARKET REVENUE (USD BN), 2020-2030F|
|7.1.||Steam methane reforming|
|10.6.||Rest of the Middle East|
|12||MIDDLE EAST BLUE HYDROGEN MARKET OPPORTUNITIES|
|13||MIDDLE EAST BLUE HYDROGEN MARKET TRENDS|
|14.1.||Demand Side Analysis|
|14.2.||Supply Side Analysis|
|15||VALUE CHAIN ANALYSIS|
|18.1.1.||Porters Fiver Forces Analysis|
|19.5.||Central Electronics Limited|
Research Methodology for the Middle East Blue Hydrogen Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the Middle East blue hydrogen market were the three major steps undertaken to create and analyze the adoption of Middle East blue hydrogen in major countries. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Middle East Blue Hydrogen market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Middle East Blue Hydrogen market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Middle East Blue Hydrogen market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major countries. Major segments are included in the report as technology, industry, and end-users. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that country.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Middle East Blue Hydrogen market. Further, we conducted factor analysis using dependent and independent variables such as various technology, industry, and end-users of Middle East Blue Hydrogen. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Middle East Blue Hydrogen market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Middle East Blue Hydrogen market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Middle East Blue Hydrogen market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Middle East Blue Hydrogen market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Countryal Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Countries
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Middle East Blue Hydrogen market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of technology, industry, and end-users in the Middle East Blue Hydrogen market.
The main objective of the Middle East Blue Hydrogen Market Study
The current & future market trends of the Middle East Blue Hydrogen market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a country level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Middle East Blue Hydrogen market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of technology, industry, and end-users.
- Define and analysis of the regulatory framework for the Middle East Blue Hydrogen
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Middle East Blue Hydrogen market for the major country.
- Major countries of countries studied in the report include UAE, Qatar, Kuwait, Bahrain, and Rest of the Middle East.
- Company profiles of the Middle East Blue Hydrogen market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive country-level analysis of the industry