Recent statistics from the China Hydrogen Energy Industry Association show that:
- Domestic hydrogen production in the first half of 2021 has jumped up 25% compared to the year before and the proportion of renewable power-to-gas was 30% higher compared to that of the first half in 2020.
- The growth of the power-to-gas market has lead to an increase in demand for electrolyzers and other equipment.
Bloomberg New Energy Finance (BNEF) recently stated in a new report that due to China’s amazing growth in the first half of 2021, the size of the electrolyzer market is expected to double this year and reach at least 1.8 GW in 2022. China is expected to account for 60%-63% of the global installed capacity of electrolyzers.
Source: Energy Iceberg, Finance Eastmoney and Bloomberg