Hydrogen market in Spain

Earlier Report Observations

From 2018 to 2021, the hydrogen market volume in Spain experienced a sustained decline, falling from 1 145 million m³ in 2018 to 535 million m³ in 2021. The early period was marked by assessments of Spain's renewable hydrogen potential, which was estimated at up to 207 TWh per year by 2050, but this did not offset the downward trend in actual market size.

From 2022 onward, the market showed signs of recovery, reaching 635 million m³ in 2023 before a slight contraction to 594 million m³ in 2024. This period coincided with accelerated activity in green hydrogen: the number of related projects grew by 30% in 2022, boosting planned electrolyzer capacity to 16.5 GW, while European policies such as REPowerEU spurred market expansion. In 2023, increased production and consumption capacity, along with trilateral collaboration on the H2Med transport corridor, supported further growth. Regulatory developments on renewable fuels of non-biological origin and transport access remained focal points in 2024 as the market continued to evolve.

Production hydrogen in Spain

In value, 2017-2020, M $ US

Hydrogen production in Spain declined for the second consecutive year. In 2020, output was valued at 138.6 million US dollars, down 13.0% from the previous year. Production decreased by 11.9% between 2017 and 2020, representing an annualized decline of 4.1%. The peak value was recorded in 2018 at 162.8 million US dollars, with the largest increase of 3.5% also occurring that year.

Annual dynamics of production in Spain in value, 2017-2020, M $ US

In kind, 2017-2020, M m³

Spain's hydrogen production volume declined for the third consecutive year. In 2020, the country produced 968 million cubic meters of hydrogen, reflecting a 9.2% year-over-year decrease. Between 2017 and 2020, production fell by 17.1%, equating to an annualized decline of 6.1%.

Annual dynamics of production in Spain in kind, 2017-2020, M m³

Exports hydrogen from Spain

Exports in kind, K m³

Spain's hydrogen exports declined for the third consecutive year. In 2020, exports reached 327.3 thousand cubic meters, showing a modest reduction of 1.2% compared to 2019. Over the period from 2017 to 2020, exports decreased by 31.8%, with a compound annual growth rate of -12.0%.

Annual dynamics of product's exports from Spain in kind, 2017-2020, K m³

From 2017 to 2020, three main markets—France, Morocco, and Portugal—together accounted for 94.2% of Spain's total hydrogen exports in volume terms.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

Hydrogen exports from Spain increased for the second consecutive year. In 2020, exports amounted to 268.3 thousand US dollars, marking a gradual improvement of 7.6% compared to the previous year. However, between 2017 and 2020, exports decreased by 49.7%, representing an annualized decline of 20.5%. The lowest value was recorded in 2018 at 231.3 thousand US dollars, with the largest decline of 56.6% occurring that year. The largest increase was recorded in 2019 at 7.8%.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

From 2017 to 2020, France, Portugal, and Morocco were the top buyers of hydrogen from Spain in value terms, with shares of 39.6%, 26.2%, and 23.3%, respectively. Together, they accounted for 89.1% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports hydrogen to Spain

Imports in kind, K m³

Imported hydrogen volumes in Spain increased for the second consecutive year. In 2020, Spain imported approximately 581.9 thousand cubic meters of hydrogen, constituting a steep rise of 28.9% versus the previous year. Over the period from 2017 to 2020, imports grew by 26.2%, with a compound annual growth rate of 8.1%. The lowest volume was recorded in 2018 at 384.2 thousand cubic meters, with the largest decline of 16.7% occurring that year.

Annual dynamics of product's imports to Spain in kind, 2017-2020, K m³

Throughout 2017 to 2020, the Netherlands remained the almost exclusive supplier of hydrogen to Spain, accounting for 93.9% of total imports in volume terms.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

Cross-border shipments of hydrogen to Spain increased for the second consecutive year. In 2020, Spain imported 400.7 thousand US dollars worth of hydrogen, amounting to an uptick of 49.5% compared to the previous year. Between 2017 and 2020, imports increased by 3.4%, equating to an annualized growth rate of 1.1%. The minimum value was recorded in 2018 at 265.7 thousand US dollars, with the largest decline of 31.4% occurring that year.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

Throughout 2017 to 2020, the Netherlands was the main supplier of hydrogen to Spain, taking 76.1% of total imports in value terms, while other partners had relatively modest shares.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020