China s hydrogen energy storage industry outlook

What is the hydrogen demand in China?

The hydrogen demand in China is expected to reach 35 million tons in 2030, and 60 million tons in 20507. With strong supply and demand, the hydrogen industry in China will prosper. In China, the development of hydrogen energy has been emphasized in a series of policies.

How will China support the hydrogen energy industry this year?

China has released over 20 national-level policies to support the hydrogen energy industry this year, covering various areas such as standards development, technological innovation, infrastructure, demonstration and promotion, and equipment upgrades, said Wei Suo, head of HEIPA.

What is China's hydrogen industry doing in 2021?

Statistics show that in 2021, 70% of the disclosed financing deals in China’s hydrogen industry were related to fuel cells and hydrogen-fueled transportation, including the fuel cell and its key component manufacturing and vehicle manufacturing.

How big is the hydrogen storage cylinder market in China?

The market size for vehicle-mounted hydrogen storage cylinders in China is expected to reach approximately 38 billion yuan ($5.23 billion) to 46 billion yuan between 2025 and 2030, said HEIPA, which is under the China Association for the Promotion of Industrial Development, a Beijing-based trade body.

How will China develop a hydrogen industry in 2035?

China envisions a reasonable and orderly industrial layout and wide use of hydrogen production to facilitate carbon peaking. By 2035, China targets to form a comprehensive hydrogen industry with diversified use cases covering transportation, energy storage, industrials, etc.

Is China poised to experience a boom in hydrogen energy development?

China is poised to experience a boom in hydrogen energy development, driven by strong government policies and a rapid decline in renewable energy costs, according to industry experts.