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U.S. - Hydrogen - Market Analysis, Forecast, Size, Trends and Insights
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View PricingU.S.: Hydrogen Market 2024
Hydrogen Market Size in the U.S.
The U.S. hydrogen market declined modestly to $X in 2023, dropping by X% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2023: its value 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, consumption decreased by X% against 2021 indices. Hydrogen consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.
Hydrogen Production in the U.S.
In value terms, hydrogen production shrank slightly to $X in 2023. In general, the total production indicated prominent growth from 2012 to 2023: its value 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. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.
Hydrogen Exports
Exports from the U.S.
In 2023, overseas shipments of hydrogen increased by X% to X cubic meters, rising for the third consecutive year after two years of decline. Overall, exports posted a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in years to come.
In value terms, hydrogen exports rose markedly to $X in 2023. Over the period under review, exports enjoyed a pronounced increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked in 2023 and are expected to retain growth in years to come.
Exports by Country
Mexico (X cubic meters), Canada (X cubic meters) and Malta (X cubic meters) were the main destinations of hydrogen exports from the United States, together accounting for X% of total exports. Saint Lucia, Israel, Taiwan (Chinese), South Korea and China lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Israel (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for hydrogen exported from the United States were Mexico ($X), Canada ($X) and Israel ($X), with a combined X% share of total exports.
Among the main countries of destination, Israel, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2023, the average hydrogen export price amounted to $X per thousand cubic meters, which is down by X% against the previous year. Over the period under review, the export price showed a perceptible descent. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per thousand cubic meters in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per thousand cubic meters), while the average price for exports to Saint Lucia ($X per thousand cubic meters) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced a decline.
Hydrogen Imports
Imports into the U.S.
In 2023, supplies from 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. In general, total imports indicated a prominent 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 2020 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X cubic meters in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.
In value terms, hydrogen imports skyrocketed to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
In 2023, Canada (X cubic meters) was the main hydrogen supplier to the United States, with a approx. X% share of total imports.
From 2012 to 2023, the average annual rate of growth in terms of volume from Canada totaled X%.
In value terms, Canada ($X) constituted the largest supplier of hydrogen to the United States.
From 2012 to 2023, the average annual growth rate of value from Canada totaled X%.
Import Prices by Country
The average hydrogen import price stood at $X per thousand cubic meters in 2023, picking up by X% against the previous year. Overall, the import price, however, saw a mild contraction. Over the period under review, average import prices attained the maximum at $X per thousand cubic meters in 2015; however, from 2016 to 2023, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for Canada.
From 2012 to 2023, the rate of growth in terms of prices for Canada amounted to X% per year.
Source: IndexBox Platform
This report provides an in-depth analysis of the hydrogen market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20111150 - Hydrogen
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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