Market Outlook
Hydrogen is the clean, green fuel of the future. It can power our cars, trucks, trains, ships, planes, and data centres while reducing carbon emissions from long-haul transport, chemicals, and iron & steel — which alone account for 8% of total CO2 emissions. Hydrogen is a clean-burning fuel, leaving behind only water, and is increasingly being used to power the chemical reactions needed to turn iron ore into steel. The market for hydrogen as a fuel is rapidly growing, driven by increasing demand for clean energy sources and the need to reduce carbon emissions. Governments worldwide are recognising the potential of hydrogen to help achieve climate neutrality by 2050, and the momentum is only growing.
As the world is slowly waking up to the climate crisis, companies and entire countries are committed to reducing carbon emissions and achieving their respective net zero goals. Hydrogen is morphing from a niche power source — used in rockets and nuclear weapons — into big business, with the European Union alone committing $500 billion to scale up its infrastructure. Countries are jostling for a position in the future hydrogen market. The U.K. is hosting 10 projects to heat buildings with hydrogen gas; China is deploying fuel-cell buses and commercial vehicles; and Japan is planning to use hydrogen gas in steelmaking.
Saudi Arabia has a significant potential in the hydrogen sector, as the country has abundant renewable energy resources, particularly solar energy, and extensive oil and gas reserves, which can be used to produce hydrogen. The country has already launched several initiatives to develop its hydrogen economy, such as the National Industrial Development and Logistics Program and the Green Hydrogen Project, which aim to establish a domestic hydrogen industry and support the country's decarbonization efforts.
Moreover, Saudi Arabia's strategic location between Europe, Asia, and Africa makes it an ideal hub for the global hydrogen trade and transportation. The country's strong industrial base, advanced infrastructure, and investment-friendly policies also make it an attractive destination for international hydrogen-related businesses and investors.
Saudi Arabia intends to use hydrogen in reducing its carbon footprint as part of its commitment to achieving net-zero emissions by 2060. The state-owned oil giant, Saudi Aramco, has announced plans to develop a hydrogen production facility using CCUS technology. The government has also expressed interest in using hydrogen as a feedstock for the country's power generation and petrochemical industry to reduce its dependence on fossil fuels for these industry sectors.
With an aim to accentuate Saudi Arabia as the top global supplier of hydrogen on an international stage and position the kingdom as an enabler of the global energy transition, Valiant Business Media takes great pride in introducing the World Hydrogen Forum 2025. The event aims to create a business-friendly environment that will encourage innovation and collaboration across the hydrogen industry value chain, by bringing together leading industry experts and key stakeholders from across the globe, under one roof.
