In this article, we will take a look at the 12 Largest Hydrogen Exporting Countries in the World. You can also check out 10 Best Hydrogen and Fuel Cell Stocks to Buy for 2024.

Global warming is on the rise and along with this, environmental and climatic conditions have been worsening. These issues, coupled with excess pollution, have led to the need to adopt and develop clean and green energy solutions. Hydrogen, being one of the biggest sources of green and clean energy, is forecasted to experience prominent growth. Governments across the globe have also been taking initiatives to decrease carbon footprints. Carbon dioxide emissions, amounting to 1,476 million metric tons, were caused in U.S. alone, in 2022, due to the heavy volume of gasoline consumed by the transportation sector, according to Insider Monkey article. This has also boosted the overall production and consumption of hydrogen.

According to Precedence Research, the global hydrogen generation market was valued at a whopping $148 billion in 2023 and is forecasted to grow at a compound annual growth rate (CAGR) of 5.75% and reach a value of $259 billion by the end of the forecast period in 2033.

Being a versatile energy source, hydrogen is a key component in tackling the ongoing energy crisis and challenges. The demand for hydrogen in 2021 was almost 94 million tons (Mt) in 2022 and this contributed to about 2.5% of global final energy consumption, according to the International Energy Agency. This increase in demand stemmed mostly from refining and its traditional use in industry. However, it is noteworthy that the demand for innovative applications also increased up to 40 thousand tons.

The US hydrogen market is extremely competitive and currently accounts for more than half of the world’s fuel cell vehicles, according to the Fuel Cell and Hydrogen Energy Association.  It also produces 25,000 fuel cell material handling vehicles, more than 8,000 small scale fuel systems in 40 states, and more than 550 MW of large-scale fuel cell power installed or planned.

As can be seen from the usefulness and demand of hydrogen, this sector has a lot of potential and is poised to grow exponentially in the coming years. Given this, many companies have been expanding in this sector. A few of them have already established their presence in the hydrogen industry and have been making waves. Some of the leaders are Linde (NYSE:LIN), Air Products & Chemicals (NYSE:APD), and Bloom Energy Corporation (NYSE:BE).

Linde (NYSE:LIN)

Linde (NYSE:LIN) operates across the globe and covers North and South America, Europe, the Middle East, Africa, and the Asia Pacific regions. It is an industrial gas company that produces atmospheric gases like oxygen, nitrogen, argon, and also processes gases including carbon dioxide, helium, hydrogen, electronic gases, specialty gases, and acetylene.

In December 2023, the company announced an expansion of its liquid hydrogen production capacity at its McIntosh, Alabama facility. According to Insider Monkey, the upgraded facility is now capable of producing up to 30 tons per day of liquid hydrogen for the local merchant market. This $90 million expansion is aimed at meeting the growing demand for hydrogen in different industries.

Air Products & Chemicals (NYSE:APD)

Air Products & Chemicals (NYSE:APD) is one of the leading suppliers of merchant hydrogen and a leader in hydrogen fuel infrastructure. The company owns more than a hundred hydrogen plants that hold a capacity to produce a whopping 7 million kilograms of fuel each day.

Earlier this month in March 2024, Air Products announced the successful completion of its testing for the proprietary AP-DMR™ LNG process technology at the Coral South floating liquefied natural gas plant in Mozambique, Africa. According to Investing.com, this state-of-the-art technology has now enabled the facility to increase its LNG production capacity in upwards of 3.4 million tons.

Bloom Energy Corporation (NYSE:BE)

Bloom Energy Corporation (NYSE:BE) specializes in designing, manufacturing, and installing solid-oxide fuel cell systems for on-site power generation globally. The Bloom Energy Saver is the flagship product of the company, which uses solid oxide technology to convert various fuels, including natural gas and hydrogen, into electricity without burning them.

According to its press release in November 2023, Bloom Energy Corporation (NYSE:BE) reported a Q3 non-GAAP EPS of $0.15 and a revenue of $400.3 million. With this reported performance, the company outperformed Wall Street estimates by $0.19 and $31.28 million, respectively, according to Yahoo Finance. Moreover, revenue for the period increased nearly 37% compared to the prior-year quarter.

Having looked at the companies that are leading in the hydrogen market, let us also take a look at the countries that have been leading this sector globally.

Methodology

For our list of countries that export the most hydrogen, we referred to the Observatory of Economic Complexity (OEC) and obtained data on the total export value of hydrogen exported by every country in the year 2022. This showed in dollar terms, the level of hydrogen that was exported by each country. The data was then arranged in ascending order and the 12 Largest Hydrogen Exporting Countries in the World were then selected for this ranking.

12 Largest Hydrogen Exporting Countries in the World

12. United Arab Emirates

Trade value: $2.5 million

In July 2023, the energy minister from the United Arab Emirates announced that the country plans on producing 1.4 million tons of hydrogen annually by 2031, as reported by reuters. This number is also forecasted to increase tenfold to 15 million by 2050, according to Reuters.

11. Slovakia 

Trade value: $2.8 million

The Slovak government is exploring the potential of hydrogen and has actively been promoting the use of hydrogen to reduce greenhouse gases. The government plans to cut these gas emissions by 55 percent by the year 2030. Additionally, according to Market Intelligence, the allocation of $1.04 billion from the state budget and EU funds supported by an additional $1.57 billion from the private sector should ensure 9,000 hydrogen vehicles and 300 hydrogen buses to drive Slovak roads by 2030.

10. United Kingdom

Trade value: $3.8 million

In 2022, the United Kingdom exported $3.8 million worth of hydrogen, ranking as the world’s 10th largest hydrogen exporter. This was a large increase in its hydrogen exports compared to the previous year and the highest since 2012.

Between 2021 and 2022, the fastest-growing export markets for UK hydrogen were Ireland (increasing by $4.33 million), Belgium (increasing by $2.39 million), and the United States (increasing by $1.08 million), according to OEC.

9. France

Trade value: $4.0 million

In 2022, France exported $3.97 million worth of hydrogen, ranking as the world’s 9th largest hydrogen exporter. That year, hydrogen was the 3,268th most exported product from France. On the import side, France brought in $7.36 million worth of hydrogen in 2022, making it the 5th largest hydrogen importer globally. During the same period, hydrogen was the 3,363rd most imported product in France, according to OEC.

8. Poland 

Trade value: $4.8 million

In 2022, Poland imported $4.8 million worth of hydrogen, ranking as the 8th largest hydrogen importer globally. That same year, hydrogen was the 2429th most imported product in Poland, according to OEC. The fastest-growing export markets for Polish hydrogen between 2021 and 2022 were Czechia ($3.78 million), Slovakia ($781,000), Netherlands ($204,000), Hungary ($19,100), and Romania ($3,960).

7. Malaysia 

Trade value: $5.2 million

In 2022, Malaysia exported $5.2 million worth of hydrogen. It is important to note that almost all of this hydrogen by Malaysia was solely exported to Singapore. According to The Edge, SEDC, which is a developer owned by the Malaysian government finalized an agreement for $4.2 billion green hydrogen projects in February 2024.

6. Germany

Trade value: $10.9 million

Germany is the world’s 6th largest hydrogen exporter. Key destinations for German hydrogen exports included the United States, France, and the Netherlands. According to OEC, Hydrogen was one of the lesser exported products for Germany, ranking 2,174th among its export products.

5. Chinese Taipei

Trade value: $14.4 million

In 2022, Chinese Taipei exported $14.4 million worth of hydrogen, ranking as the world’s 5th largest hydrogen exporter, according to OEC. That year, hydrogen was the 1,302nd most exported product from Chinese Taipei. The primary destinations for these exports were Singapore ($14.4 million), Malaysia ($1,630), and China ($649). Between 2021 and 2022, the fastest-growing import markets for hydrogen in Chinese Taipei were China ($76,600), Japan ($1,210), and the Netherlands ($1,160).