China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista (2024)

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    Published by

    Daniel Slotta,

    Jul 24, 2024

    In 2024, the fuel cell stacks market volume in China was projected to grow by more than 4,500 megawatts, while the market value was expected to rise by 937 million U.S. dollars. According to the forecast, the market was anticipated to grow by almost seven billion U.S. dollars in 2029. Fuel cell stacks describe the combination of multiple fuel cells in close proximity to increase voltage and power.

    Annual growth of the hydrogen fuel cell stacks market volume in China from 2020 to 2023 with a forecast of 2024 and 2029 (in megawatts)

    CharacteristicNet growth in megawatts
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    China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista (2)

    Tanalyze

    Release date

    March 2024

    More information

    Region

    Asia, China

    Survey time period

    2020 to 2024

    Supplementary notes

    *Forecast.

    Citation formats

    Other statistics on the topic

    +EnergyGlobal hydrogen fuel stations by country 2022+EnergyGlobal hydrogen use 2020, by country+EnergyGlobal hydrogen pipelines' costs by type 2021EnergyGreen hydrogen plants by country 2022

    China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista (7)

    Daniel Slotta

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    China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista (9)

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    China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista (2024)

    FAQs

    China: net growth of the hydrogen fuel cell stacks market volume 2020-2029 | Statista? ›

    Net growth of hydrogen fuel cell stacks market in China 2020-2029. In 2024, the Chinese hydrogen fuel cell stacks market grew to 937 million U.S. dollars. According to the forecast, the market was anticipated to reach almost seven billion U.S. dollars in 2029.

    Read The Full Story
    How big is the hydrogen fuel cell market in 2030? ›

    USD 33.4 Billion

    Tell Me More
    How much is China investing in hydrogen? ›

    China's investment into green hydrogen industry, which produces hydrogen using renewable energy, has reached 300 billion yuan ($42.04 billion) year-to-date, the state broadcaster CCTV reported on Monday.

    Discover More Details
    What is the outlook for the hydrogen fuel cell market? ›

    Hydrogen Fuel Cell Market Overview. The Hydrogen Fuel Cell market size was estimated at USD 3.12 billion in 2023 and is projected to reach USD 7.2 billion in 2030 at a CAGR of 12.1% during the forecast period 2023-2030.

    Learn More Now
    What is the future of hydrogen in China? ›

    Hydrogen fuel is one of China's key strategies to achieve national energy security and carbon neutrality. Hydrogen is expected to provide more than 10% of China's total energy supply by 2050, and the country has announced more than 50 large-scale hydrogen projects.

    Tell Me More
    How much hydrogen will be produced in 2030? ›

    By 2030, global hydrogen production will increase to 110 million metric tons (Mt) per year, and probably to 240 Mt by 2040, according to a study, 'The Roaring '30s – A clean hydrogen acceleration story,' by the German-based management consultancy Roland Berger.

    Read On
    Does hydrogen fuel cell have a future? ›

    Green hydrogen: important as a fuel of the future

    Hydrogen is important for the future because it can be a versatile, clean, and abundant energy carrier. It can store surplus renewable energy and release it when needed, easing a shift to more sustainable energy systems.

    Show Me More
    Who is the largest producer of hydrogen in China? ›

    Sinopec in September announced plans to become China's biggest hydrogen producer, putting the country on course to achieve its energy transition and climate goals. The company said it aims to install a capacity to produce 120,000 tonnes of hydrogen a year by the end of 2025.

    Know More
    Which country is rich in hydrogen? ›

    China is currently the world's largest consumer and producer of hydrogen. Most of the hydrogen it makes today is fossil-fuel-based, but the country has big plans to scale up its green hydrogen production and use the fuel to decarbonize sectors like steel and chemicals production.

    Find Out More
    What is China's hydrogen strategy for 2030? ›

    Hydrogen demand & application in China

    China's Hydrogen Alliance (CHA) forecasts that China's hydrogen demand will reach 35 million tons in 2030, making up around 5% of the projected total energy demand. By 2050, the figure will stand at 90 million tons, supporting 10% of the projected energy demand.

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    Who is investing in hydrogen fuel cells? ›

    Energy giant Shell has been researching the possible applications of hydrogen for decades. The company has a lot of expertise in-house and believes it can play a leading role in the development of the hydrogen economy. In addition to hydrogen, Shell invests on a large scale in other sustainable technologies.

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    What is the best hydrogen fuel cell stock to buy? ›

    Best 10 Hydrogen Stocks to Add to Your Watchlist
    • CMI+2.84% CMI - NYSECummins Inc. ...
    • FCEL-1.11% FCEL - NYSEFuelCell Energy Inc. ...
    • BE+0.35% BE - NYSEBloom Energy Corporation Class A. ...
    • PLUG+6.44% PLUG - NASDAQPlug Power Inc. ...
    • BLDP+1.52% BLDP - NYSEBallard Power Systems Inc. ...
    • LIN+1.72% LIN - NYSELinde plc. ...
    • APD+0.90%
    May 16, 2024

    Learn More
    How big is the hydrogen market today? ›

    What is the current size of the hydrogen market? The current market size of the hydrogen market is USD 222.0 billion in 2022.

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    Will hydrogen replace electric? ›

    Can hydrogen overtake batteries in cars? “The answer is no,” said Liebreich, without a moment's hesitation. Carmakers betting on a large share for hydrogen are “just wrong”, and heading for an expensive disappointment, he added.

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    Is China making hydrogen cars? ›

    Authorities unveiled China's first national-level hydrogen energy development plan in 2022, envisioning wider use of trains, cars, trucks and ships by 2025, as well as annual production of between 100,000 tonnes and 200,000 tonnes of “green hydrogen energy” from renewable sources.

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    Will hydrogen replace fuel? ›

    In energy-intensive sectors, hydrogen can replace fossil fuels to generate high temperature heat when combusted in furnaces, kilns, heaters or boilers. If GHG emission-free hydrogen is used instead of fossil fuels, a zero GHG emission heating process could be achieved.

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    How big is the hydrogen market in 2040? ›

    This is just the beginning: a June report from the Deloitte Center for Sustainable Progress identified the potential of the green hydrogen market, growing from USD 642 billion by 2030, to USD 980 billion by 2040, and USD 1.4 trillion by 2050.

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    What is the stock forecast for fuel cell in 2030? ›

    According to our FuelCell Energy stock prediction for 2030, FCEL stock will be priced at $ 0.389445 in 2030. This forecast is based on the stock's average growth over the past 10 years.

    See Details
    What is the target of green hydrogen by 2030? ›

    The Indian government has set out an ambitious green hydrogen production target of 5 million metric tonnes per annum by 2030, with an associated renewable energy capacity of about 125 GW by 2030. To reach this production target, the government aims for 15 GW by 2030 of electrolysis capacity.

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    What will the hydrogen market be in by 2050? ›

    By 2050, clean hydrogen demand could account for up to 73 to 100 percent (125 to 585 Mtpa) of total hydrogen demand, with only between less than 1 and 50 Mtpa of demand being met by grey hydrogen, depending on the scenario. After 2025, nearly all new hydrogen production coming online is expected to be clean hydrogen.

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