China eyes $15 billion hydrogen industry in Beijing-Tianjin-Hebei by 2025, ICIS.
China plans a full hydrogen industry chain worth over yuan (CNY) 100bn ($15bn) in the Beijing-Tianjin-Hebei area by 2025, in line with the aim to reduce carbon emissions by 2m tonnes in the northern metropolitan region.
This meant a doubling of the industry chain value in two years from the targeted CNY50bn before 2023, under the Beijing Hydrogen Industry Development Implementation Plan (2021-2025).
Building up a comparatively mature hydrogen industry is targeted before 2025, with 10-15 top industry players that are globally competitive.
The plan hinges on Beijing, the Chinese capital, making significant progress in hydrogen technology innovation.
By 2023, Beijing plans to set up 37 hydrogen filling stations and have 3,000 vehicles using hydrogen fuel battery. The same number of filling stations will be installed by 2025 and the number of hydrogen-powered vehicles will exceed 10,000 units, based on the plan.
Beijing expects using hydrogen will cut the overall cost of car owners by 30%.
Technological breakthroughs in hydrogen production, storage, refilling, battery and related technologies will be pursued.
The city is targeting daily hydrogen output of 68.8 tonnes before 2022 to cover its own requirement, based on the municipal document.
Daily hydrogen consumption by vehicles in the capital is projected to hit around 50 tonnes by 2023 and will more than double to 135 tonnes after two years.
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China eyes $15bn hydrogen industry chain in Beijing-Tianjin-Hebei by ‘25, 2021/08/17
