Global Insight Services’ Global MENA Green Hydrogen Market study is the single most reliable source of information on the MENA Green Hydrogen Market.
The paper will analyse how recent market disruptions like the Russia-Ukraine war and Covid-19 have affected the market. The market is qualitatively analysed in the report utilising a variety of frameworks, including Porter’s and PESTLE analysis. Data on market size and detailed segmentation by categories, product types, applications, and regions are included in the report. Also, the report provides in-depth analyses of important topics, market drivers and trends, obstacles and challenges, the competitive environment, and current occurrences like M&A activity.
Green hydrogen is a form of hydrogen that is created by electrolyzing water with renewable energy. Using an electric current, the electrolysis process separates water molecules into hydrogen and oxygen atoms. The resultant hydrogen can be utilised in a variety of applications, such as as a car fuel or a form of energy storage. The fact that green hydrogen doesn’t emit greenhouse gases when used is a major benefit. This contrasts with conventional hydrogen, which is made from natural gas and burns with the release of carbon dioxide. Hence, green hydrogen can aid in lowering greenhouse gas emissions and halting climate change.
It is projected that increased investment in green hydrogen will accelerate industry growth.
Green hydrogen would be vital to the government’s goal of decarbonizing the MENA economy. The United Arab Emirates and Saudi Arabia present themselves as the front-runners. For instance, as the Kingdom steps up its green hydrogen production, Saudi Arabia and Germany announced a strategic green hydrogen development cooperation in 2021 to generate, process, use, and transport clean hydrogen. “Hydrogen developers like NEOM, ACWA Power, Masdar, and OQ are currently driving the development of green hydrogen to a large extent.” The public sector, which is in charge of enabling elements like hydrogen valleys, access to technology, understandable laws, and the availability of human resources, supports these players.
According to projections from the International Renewable Energy Agency, green hydrogen will serve as one of the main pillars of the global energy transition by 2050, providing 12% of the world’s energy requirements. Saudi Arabia wants to overtake the UAE as the world’s largest supplier of hydrogen, while the UAE wants to take 25% of the global market. Other nations in the region improving significantly include Oman and Egypt. Now, Siemen is developing a number of green hydrogen projects in the Middle East and Africa. In addition to countless smaller initiatives, more than 40 investments worth more than $20 billion have been made public for the years up to 2030. Significant investments in hydrogen have been announced by nations like Saudi Arabia. In order to support the manufacturing of green hydrogen, Dubai and Qatar are also investing in solar energy and hydrogen.