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Middle East & Africa Petroleum Refining Hydrogen Market Trends

Report ID: GMI12468
Published Date: Dec 2024
Report Format: PDF

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Middle East & Africa Petroleum Refining Hydrogen Market Trends

Rising investments in expanding refinery capacities to meet rising regional and global energy demands in line with growing adoption of advanced hydrogen technologies in these projects for desulfurization and hydrocracking to produce high-quality fuels will foster product penetration. Growing regional shift towards sustainability supported by green hydrogen initiatives in countries such as Saudi Arabia and South Africa will further drive the industry outlook.

Authors: Ankit Gupta , Pooja Shukla

Frequently Asked Questions (FAQ) :

The Middle East & Africa petroleum refining hydrogen market reached USD 9.7 billion in 2024 and is estimated to grow at a 10.1% CAGR from 2025 to 2034, driven by increasing refinery capacity and demand for cleaner fuels.

The green segment is projected to reach over USD 8.5 billion by 2034, due to stringent environmental regulations and regional efforts to curb carbon emissions.

Saudi Arabia's petroleum refining hydrogen market is anticipated to exceed USD 12.4 billion by 2034, led by the country's vision to diversify its economy and embrace renewable energy.

Key players include ADNOC, Aramco, BP, Chevron Corporation, ExxonMobil, Indian Oil Corporation, Messer Group, Nel Hydrogen, Reliance Industries, Saudi Aramco, and Shell UAE.