As of 2023, the production of hydrogen in Sweden stood at 446.22 thousand cubic meters. Analyzing the forecasted data for the years 2024 through 2028, we observe a gradual decline in production volumes. Specifically, the production values exhibit a year-on-year decrease of approximately -0.01% to -0.02%, culminating in an overall decline by 2028.
This decreasing trend over the forecasted period results in a compound annual growth rate (CAGR) of approximately -0.01%, indicating a relatively stable but slightly declining production capacity. Typically, such trends suggest either market saturation, emerging competitive alternatives, or potentially improved efficiency in current operations reducing the need for higher production volumes.
Key future trends to watch for include advancements in hydrogen production technology, governmental policy shifts towards renewable energy, and the emergence of green hydrogen initiatives which may impact overall production volumes. Monitoring these factors will be crucial for forecasting future market dynamics accurately.
