Saudi Arabia Hydrogen Generation Market Overview, 2027

Hydrogen is a life-saving element for the upcoming generation. Hydrogen is the element on which the future of this planet Earth is highly dependent. Hydrogen is an element that is colourless, tasteless, odourless, and lightest and is still the most important element for the betterment of the world. Hydrogen is highly popular for uses in fertilizers, metal grinding, methanol production, ammonia production, petroleum refineries, transportation, and power generation. As a part of that, it reacts with oxygen to make water, which is essential for life on this planet. There are different types of technologies that are used to extract hydrogen from water. After helium extraction, the second most difficult process is extracting hydrogen. Technologies like the steam methane reforming process, coal gasification, and others are the processes that are used to get hydrogen. These are used to produce different types of hydrogen, which are grey hydrogen, blue hydrogen, green hydrogen, and brown hydrogen.
According to the report titled "Saudi Arabia hydrogen generation market overview 2027" published by Bonafide Research, the market size of Saudi Arabia's hydrogen generation market is anticipated to grow with a CAGR of over 4% in the forecast period. Saudi Arabia is the leader in the segment of producing petroleum products and also has a storage capacity of 3 billion gallons for those products, which is the highest in the world. As hydrogen demand has been increasing in the past few years, Saudi Arabia is taking bigger steps towards the generation of hydrogen. The government of Saudi Arabia has engaged multiple companies to build the biggest hydrogen production plant in the world in Saudi Arabia. For the fulfilment of this purpose, Saudi Arabia came up with companies like Air Products, ACWA Power, and State Oil, Saudi Aramco. These companies are investing more than 4.5 billion dollars to achieve the goal. The goal is to develop different technologies and produce the most "green hydrogen" in the world. The two main technologies which are dominating the hydrogen generation market are the steam methane reforming method and the coal gasification method.
According to CSIS, Saudi Arabia has announced that by 2023, the monarchy aims to add almost 27 gigawatts (GW) of primarily solar capacity, and nearly 58 GW by 2030. However, the kingdom's established renewable energy capacity is still modest. Utility-scale photovoltaic capacity was 330 megawatts in the first half of 2020 (MW). It increases hydrogen production in Saudi Arabia and helps them achieve their goal.

The COVID-19 pandemic had a detrimental influence on the market since various power projects, particularly those in the T & D sector, were postponed until 2022 as a result of the outbreak. As a result of the state-wide lockdown, industrial and commercial enterprises remained temporarily shuttered, resulting in a 3.24.0% drop in power use in 2020 compared to 2019. Cleaner energy sources such as solar, wind, and bio energy, as well as supporting government regulations, are predicted to move the Saudi Arabian power market toward the expansion of renewable energy capacity by 2020.
Consider in this report:
• Geography: Saudi Arabia
• Historical year: 2016
• Base year: 2021
• Estimated year: 2022
• Forecast year: 2027
Aspects covered in this report
• Saudi Arabia hydrogen generation market with its value and forecast along with its segments
• Application wise hydrogen generation market analysis
• Various drivers and challenges
• On-going trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation
Technical type of hydrogen generation in the report
• Steam methane reforming process
• Coal gasification
• Others

By application type in the report
• Methanol production
• Ammonia production
• Petroleum refinery
• Transportation
• Power generation
• others
By system type in the report
• Captive
• Merchant
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to hydrogen generation, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.