China Hydrogen Generation Market

By 2030, the China hydrogen generation market is expected to grow from USD 46.69 billion in 2024 to USD 73.29 billion. The compound annual growth rate (CAGR) will be 7.8% over this period. Hydrogen will continue to be a driving force behind demand for additional energy sources across several sectors: refining, chemicals, steel, and transportation. China's focus on the energy transition, carbon neutrality goals, and emissions reduction targets is increasing demand for hydrogen through extensive national policies and subsidies, as well as large-scale funding programs to promote and adopt hydrogen as a primary decarbonization solution. China's large manufacturing activities and ever-increasing demand for energy provide continual support for requiring hydrogen in several applications. Renewable energy sources such as solar and wind, and significant investments in them, provide an environment supporting the production of green hydrogen through electrolysis; China's vast supply of advanced manufacturing capabilities, with expanding infrastructure and technology, is assisting with the large-scale production and deployment of hydrogen fuel.

The key players in this market include Linde PLC (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Iwatani Corporation (Japan), and Petroliam Nasional Berhad (PETRONAS) (Indonesia). The companies are pursuing investments, expansions, contracts, agreements, partnerships, and acquisitions to grow their market reach.      

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Linde PLC is an industrial gas creative supplier and support leader within the professional services. According to revenue and market capitalization data, Linde PLC ranks as the top company in industrial gases worldwide and is split into five operating divisions: The Americas; Europe, the Middle East and Africa (EMEA); Asia and the Pacific (APAC); Linde Engineering; and Global Other. Units of trade in the business segments engaged in commercializing the Linde products include hydrogen. The company's customers include companies in healthcare, oil and gas, production (manufacturing), carbonating food/beverages, fiber optics, air and space, chemicals, electronics, and water treatment. The gas and engineering sectors comprise two important categories of Linde PLC products. The company provides atmospheric, medicinal, and industrial gases (hydrogen, helium, oxygen, and synthesis gas) from both areas.

Air Liquide is a multinational enterprise based in France that serves many industries, including pharmaceuticals, chemicals, and electronics. The company is the largest supplier globally of Industrial Gases. The company also has various product lines and delivery methods for gases and products across six independently reported business units: Industrial & Merchant Products, Large Industrial Applications, Healthcare, Electronics, Global Markets & Technologies, and Engineering & Construction. Hydrogen production occurs primarily in the Large Industrial Applications Segment, where Hydrogen is produced via electrolysis using renewable electricity and through the reforming of Biomethane into Hydrogen. The company has operations and subsidiaries across North America, South America, Europe, the Middle East & Africa, and Asia/Pacific.

Related Reports:

China Hydrogen Generation Market by Source (Blue, Green, Gray), Application (Refinery, Ammonia, Methanol, Transportation, Power Generation) - Forecast to 2030

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