The China Hydrogen market demand stood at 18.7 million tonnes in 2023 and is expected to grow at a CAGR of 3.4% during the forecast period until 2034.
Hydrogen serves as an energy carrier rather than a direct energy source and possesses the capability to convey or store a substantial amount of energy. It can be effectively utilized in fuel cells to generate electricity, as well as power and heat. Presently, hydrogen finds its predominant applications in petroleum refining and fertilizer production, while emerging markets include transportation and utilities. As a clean fuel, hydrogen, when consumed in a fuel cell, produces only water, electricity, and heat. Hydrogen and fuel cells hold significant potential in future, offering versatile applications across various sectors, encompassing transportation, commercial, industrial, They can contribute to a wide range of applications in future, such as distributed or combined-heat-and-power, backup power systems, storage and utilization of renewable energy, portable power solutions, auxiliary power for diverse vehicles like trucks, aircraft, rail, and ships, specialty vehicles like forklifts, and both passenger and freight vehicles, including cars, trucks, and buses. Hydrogen mainly serves as a feedstock to produce ammonia which is further employed by numerous sectors.
However, the largest application is the usage of hydrogen to produce ammonia. Ammonia is further used by numerous sectors like Agriculture & Fertilizers, Textiles & Pharmaceutical, Explosives, Refrigeration, and other sectors. China is expected to witness a significant surge in hydrogen adoption in the forecast period due to its concerted efforts to promote clean energy and achieve carbon neutrality. The Chinese government has established ambitious targets and policies to drive the growth of the hydrogen economy, emphasizing its application in transportation, industry, and power generation. Sizeable investments in research and development, coupled with collaborative initiatives between government, industries, and research institutions, are accelerating technological advancements in hydrogen production and utilization. The increasing demand for sustainable energy solutions in China, combined with a growing emphasis on green initiatives, is creating a conducive environment for hydrogen to play a pivotal role in the country's energy transition. The development of a robust hydrogen infrastructure and supportive government policies further position China as a key player in the global hydrogen market. Due to these reasons, the China Hydrogen market size is estimated to reach roughly 27 million tonnes in 2034.
Based on the end-user industry, the China Hydrogen market is segregated into Ammonia, Refining, Methanol, Fuel, and Others. The largest chunk of Hydrogen goes towards Ammonia segment. In 2023, this industry consumed about 42 percent of the net China Hydrogen market.
Major players in the China Hydrogen market are Sinopec, Air Products, Air Liquide, Linde plc, Shanghai HuaLin Industrial Gases, and Messer. Other players in the Global Hydrogen market are Praxair, Chevron Usa Inc, Sinopec, Valero, Martinez Refining Co Llc, Phillips 66 Company, Wrb Refining Lp, Flint Hills Resources Lp, Cenex Harvest States Coop, Deokyang, Bp West Coast Products Llc, Sinclair Wyoming Refining Co, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Hydrogen which covers production, demand and supply of Hydrogen market in China.
• To analyse and forecast the market size of Hydrogen
• To classify and forecast China Hydrogen market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Hydrogen market in China.
To extract data for China Hydrogen market, primary research surveys were conducted with Hydrogen manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for China Hydrogen market over the coming years.
ChemAnalyst calculated Hydrogen demand across the China region by analysing the volume of Hydrogen consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Hydrogen manufacturers and other stakeholders
• Organizations, forums and alliances related to Hydrogen distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Hydrogen manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, China Hydrogen market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
18.7 million tonnes
Market size Volume by 2034
27 million tonnes
Growth Rate
CAGR of 3.4% from 2024 to 2034
Base year
2023
Estimated Year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process.
Segments covered
By End-Use: (Ammonia, Refining, Methanol, Fuel, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North China, South China, East China, West China and Rest of China
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the size of China Hydrogen market in terms of volume in 2023?
Ans:
The size of China Hydrogen market has grown significantly in the historic period and reached approximately 18.7 million tonnes in 2023.
Q2.
Which industry is leading as the leading consumer of China Hydrogen market?
Ans:
Ammonia industry is the leading consumer of China Hydrogen market.
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