Between 2013 and 2023, the production of hydrogen in Finland exhibited significant volatility. After beginning at zero production from 2013 to 2015, the output dramatically surged in 2016 to 1.94 billion cubic meters before experiencing a sharp decline the following years. By 2023, production stood at approximately 490 million cubic meters, marking a notable recovery with a 38.16% year-on-year increase from 2022.
The compound annual growth rate (CAGR) over the last five years is -8.76%, indicating an average decline, albeit interspersed with intermittent recoveries. The forecasted data from 2024 to 2028 suggest stable production, with a negligible forecasted 5-year CAGR of only 0.01%.
Future trends to watch for include advancements in hydrogen production technology, particularly green hydrogen, which could ignite growth. Additionally, government policies and market dynamics within the renewable energy sector will play pivotal roles in shaping hydrogen production trends in Finland. The market needs to keep an eye on regulatory support and potential integrations with other renewable energy sources.
