Asia Hydrogen Market Size and Analysis by Application Areas, Upcoming Projects, Policies and Key Players, 2023-2030
All the vital news, analysis, and commentary curated by our industry experts.
Asia Hydrogen Market Overview
As of January 2023, the active hydrogen capacity in Asia is 0.06 mtpa. Asia aims to develop a clear strategy for how to promote hydrogen use in transportation, power, and other hard-to-abate sectors like the iron and steel industries. The region is in urgent need to accelerate transition strategies across sectors as a way to achieve climate global goals which can position hydrogen development as one of the solutions to accomplish the targets.
The Asia Hydrogen market research report offers hydrogen market analysis in the region, total upcoming capacity, and 2030 market size scenarios, highlighting recently announced projects by capacity. The report also offers insights into the demand for hydrogen across different application sectors with national and regional policy support and financial incentives.
For more insights into the Asia hydrogen market forecast, download a free sample report
Asia Hydrogen Market Segmentation by Countries
The key countries in terms of green hydrogen demand in Asia are Japan, China, Inner Mongolia, India, and South Korea. Inner Mongolia has the highest green-hydrogen demand in 2023. India have targeted to become the world’s largest production of green ammonia for exports by 2030.
Asia Green Hydrogen Market Analysis by Countries, 2023 (%)
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Asia Hydrogen Market Segmentation by Use Sectors
The key use sectors in the Asia hydrogen market are transportation, ammonia & other chemicals, synthetic fuels, fuel cell, power, gas grid, iron & steel, oil refining, and electronics among others. Transportation is the most common end-use sector for hydrogen produced in Asia. Other industries mainly include more traditional uses of hydrogen such as treating metals or in the food industry.
Asia Hydrogen Market Analysis by Application Areas, 2023 (%)
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Refining: Oil refining has the largest current demand for hydrogen despite a growing interest in new sectors. The largest refining capacities are found in China, India, Japan, and South Korea. As refiners across the globe are looking for solutions to reduce the greenhouse gas emissions associated with their operations, it is a demand opportunity for low-carbon hydrogen to replace the grey hydrogen currently used in refineries.
Key Chemicals: Asia accounts for nearly half of the global ammonia sector’s hydrogen demand. China is the largest consumer in the world. Additionally, Asia is a major methanol producer.
Transportation: Japan will target the use of methylcyclohexane (MCH), ammonia, or methane as energy carriers and a dedicated shipping fleet for the country’s consumption. Currently, China is the third largest fuel cell electric vehicle (FCEV) market and the first for fuel cell trucks and buses in the world.
Power Sector: A great use of hydrogen is expected to be consumed by the power sector, creating an increasing demand.
For more insights into the application areas in the Asia hydrogen market, download a free sample report
Asia Hydrogen Market – Regional Policies and Strategies
Medium and Long-Term Planning for the Development of Hydrogen Energy Industry (2021-2035) in China was released in March 2022. The document shows China targeting to produce more than 100,000 tons of green hydrogen annually. The document indicates four key areas of focus including building a collaborative and efficient centralized innovation platform to strengthen research and develop disruptive technologies and promoting the construction of hydrogen energy infrastructure. To support these aims, it is reported that a new inter-ministerial coordination mechanism for the development of the hydrogen energy industry is to be formed.
The India National Hydrogen Mission supports the country in becoming a hub for the production and export of green hydrogen. Moreover, it foresees becoming the world’s largest producer of green steel by 2030.
For more insights into the regional policies and strategies in the Asia hydrogen market, download a free sample report
Asia Hydrogen Market – Competitive Landscape
Company filings mentioning hydrogen can be used as a gauge of players active in the sector. Some of the key companies in the Asia hydrogen market are Toyota Motor Corp, MTAR Technologies Ltd, NTPC Ltd, JSW Energy Ltd, Reliance Industries Ltd, Honda Motor Co Ltd, Indian Oil Corp Ltd, Horiba Ltd, Electric Power Development Co Ltd, and LOTTE Fine Chemical Co Ltd. Toyota Motor Corp promotes proactive technological development to utilize hydrogen and have started verification tests to support the utilization of hydrogen at the Toyota Motor Corporation Honsha Plant and Motomachi Plan.
To know more about Asian companies with the most mentions of hydrogen in filings, download a free sample report
Asia Hydrogen Market Research Overview
|Key Countries||Japan, China, Inner Mongolia, India, and South Korea|
|Key Use Sectors||Transportation, Other Industries, Ammonia & Other Chemicals, Synthetic Fuels, Fuel Cell, Power, Gas Grid, Iron & Steel, Oil Refining, and Electronics|
|Key Companies||Toyota Motor Corp, MTAR Technologies Ltd, NTPC Ltd, JSW Energy Ltd, Reliance Industries Ltd, Honda Motor Co Ltd, Indian Oil Corp Ltd, Horiba Ltd, Electric Power Development Co Ltd, and LOTTE Fine Chemical Co Ltd|
The region is in an urgent need to accelerate transition strategies across sectors as a way to achieve climate global goals which can positioned hydrogen development as one of the solutions to accomplish the targets, still lacking of strong political support on most of the countries.
Asia is positioned now as one of the major areas looking to import great capacity of clean hydrogen and ammonia, having ambitious plans for its use across multiple sectors specially power and transportation.
Hydrogen accounts for a 20% share of the global capacity.
Reasons to Buy
- Identify the market trends within the country and key players in hydrogen technologies.
- Develop market insight of current, development and announced capacity, and latest trends of the sector.
- Understand the country’s different scenarios for 2030 based on the likeliness of the projects.
- Look at the demand in key application areas for the country.
- Facilitate the understanding of how and where the market is growing as it is rapidly scaling up to position as one of the main topics of the international and national agenda.
Table of Contents
- 1. Overview
- 1.1. Executive Summary
- 1.2. Regional Snapshot
- 2. Low Carbon Hydrogen Market
- 2.1. Asia in a global context
- 2.2. Upcoming largest projects
- 2.3. 2030 capacity scenarios
- 2.4. Hydrogen competitiveness drivers
- 2.5. Renewable energy
- 2.6. Electrolyser Targets
- 2.7. Major barriers
- 3. Demand in Key Application Areas
- 3.1. Demand across main sectors
- 3.2. Refining
- 3.3. Chemicals
- 3.4. Hydrogen to Ammonia
- 3.5. LNG
- 3.6. Blending into Gas Grid
- 3.7. Transportation
- 3.8. Other industrial sectors
- 4. Political, Economical Perspective & Key Players
- 4.1. Asian Policy Strategy
- 4.2. National Strategies
- 4.3. Deals overview
- 4.4. Key players in Asian hydrogen market
Frequently asked questions
Which are the key countries in the Asia hydrogen market?
The key countries in terms of green hydrogen demand in Asia are Japan, China, Inner Mongolia, India, and South Korea.
What are the key use sectors of the Asia hydrogen market?
The key use sectors of the Asia hydrogen market are transportation, ammonia & other chemicals, synthetic fuels, fuel cell, power, gas grid, iron & steel, oil refining, and electronics.
Which are the key policies and strategies in the Asia hydrogen market?
Medium and Long-Term Planning for the Development of Hydrogen Energy Industry (2021-2035) in China and India National Hydrogen Mission are some of the key policies of the Asia hydrogen market.
Who are the key players in the Asia hydrogen market?
The key players in the Asia hydrogen market are Toyota Motor Corp, MTAR Technologies Ltd, NTPC Ltd, JSW Energy Ltd, Reliance Industries Ltd, Honda Motor Co Ltd, Indian Oil Corp Ltd, Horiba Ltd, Electric Power Development Co Ltd, and LOTTE Fine Chemical Co Ltd.
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