In the future, electrolytic hydrogen production using renewable energy sources will become the main method for industrial hydrogen production
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At present, the domestic hydrogen industry is still in the market introduction phase; aside from a few gas companies, there are limited channels for supplying hydrogen on a commercial basis. In our country, hydrogen supply mainly comes from hydrogen produced from fossil fuels, hydrogen generated as a by-product of industrial processes, and hydrogen produced through electrolysis using renewable energy. In 2020, these methods accounted for 67%, 30%, and 3% of the total hydrogen supply respectively. It is expected that hydrogen production via electrolysis of renewable energy will become the main method for industrial hydrogen production in the future, with its share expected to reach 70% by 2050.
In terms of the market competition landscape, there are currently many participants in China’s hydrogen production industry, resulting in a fairly fragmented market share. Among them, Sinopec produces over 3.5 million tons of hydrogen each year, accounting for about 14% of the country’s total hydrogen production. **The Energy Group produces more than 4 million tons of hydrogen per year, representing 16% of the total production; together, these two companies account for around 30% of the total hydrogen production.