Asia faces a challenge for its present but more importantly its future. Rapid industrialisation, urbanisation and an increase in power demand have resulted in overdependence on fossil fuels. The region is looking to hydrogen due to its versatility and potential to decarbonise its hard-to-abate industries, with the goal of reducing its use of fossil fuels and help in its energy transition to a more sustainable future.
Asia has outlined the importance of low-carbon hydrogen in the energy transition due to its versatility in decarbonising a wide range of end-use industries including power, transportation and other hard-to-abate sectors such as iron and steel and ammonia. It is pushing to develop low-carbon hydrogen production capacity and regional demand, as not only a pathway to a more sustainable future but a means to increase energy independence.
Transport remains the dominant end-use industry for low-carbon hydrogen in Asia, with nearly 3.2mtpa of capacity expected to be allocated based on current project announcements. Nations such as China and Japan are implementing policies and production targets to continue the development of clean technologies for the transportation industry.
The second largest end-use sector for low-carbon hydrogen in Asia is power generation. Both Japan and South Korea have implemented targets for hydrogen use in power generation, with the former targeting 800ktpa of hydrogen for power generation by 2030 and the latter aiming to supply 15GW of hydrogen fuel cell capacity for power generation by 2040.
There is also a focus on synthetic fuels and ammonia as an end-use industry, as Asian nations prioritise decarbonising hard-to-abate sectors.
More and more Asian nations are implementing national hydrogen policies and supporting funding initiatives to accelerate domestic and regional low-carbon hydrogen development and foster growth in regional market demand. Furthermore, hydrogen agreements and partnerships occurring in the region, particularly in Japan, are promoting cooperation to accelerate the development of hydrogen. The agreements set a framework for establishing hydrogen-based carrier supply chain studies, joint research and development and low-carbon hydrogen knowledge sharing.
Asia has outlined the importance of low-carbon hydrogen in the energy transition due to its versatility in decarbonising a wide range of end-use industries including power, transportation and other hard-to-abate sectors such as iron and steel and ammonia. It is pushing to develop low-carbon hydrogen production capacity and regional demand, as not only a pathway to a more sustainable future but a means to increase energy independence.
Transport remains the dominant end-use industry for low-carbon hydrogen in Asia, with nearly 3.2mtpa of capacity expected to be allocated based on current project announcements. Nations such as China and Japan are implementing policies and production targets to continue the development of clean technologies for the transportation industry.
The second largest end-use sector for low-carbon hydrogen in Asia is power generation. Both Japan and South Korea have implemented targets for hydrogen use in power generation, with the former targeting 800ktpa of hydrogen for power generation by 2030 and the latter aiming to supply 15GW of hydrogen fuel cell capacity for power generation by 2040.
There is also a focus on synthetic fuels and ammonia as an end-use industry, as Asian nations prioritise decarbonising hard-to-abate sectors.
More and more Asian nations are implementing national hydrogen policies and supporting funding initiatives to accelerate domestic and regional low-carbon hydrogen development and foster growth in regional market demand. Furthermore, hydrogen agreements and partnerships occurring in the region, particularly in Japan, are promoting cooperation to accelerate the development of hydrogen. The agreements set a framework for establishing hydrogen-based carrier supply chain studies, joint research and development and low-carbon hydrogen knowledge sharing.
Key Highlights
- Asia currently has 130ktpa of low-carbon hydrogen capacity, however, its share of active capacity is set to increase as it also accounts for 12% of global feasibility and post-feasibility projects.
- Transport is the largest end-use industry for low-carbon hydrogen in Asia, with nearly 3.2mtpa of capacity expected to be allocated based on current project announcements.
- The second largest end-use sector is power, with nearly 1.3mtpa of capacity allocated. Feasibility projects continue to contribute to most of the region's capacity, with the 6mpta accounting for 58% of its total capacity. 5 Asian nations have set hydrogen production targets with targets totalling over 10mtpa by 2030. China, India and Japan have all set electrolyser targets for 2030 which total 110GW of capacity.
Scope
- Asia low-carbon hydrogen capacity outlook, Key regional projects, Key companies operating in Asia's hydrogen market, Hydrogen end-use sectors, Hydrogen policy in Asia, Deal activity related to hydrogen in Asia, Company filings analysis of Asian headquartered companies
Reasons to Buy
- Identify the market trends within the region and key players in hydrogen technologies.
- Develop market insight of current, in development and announced capacity and latest trends of the sector.
- Understand the region'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 on 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
- Overview
- Executive summary
- A snapshot of the low-carbon hydrogen market
- Low Carbon Hydrogen Market
- World’s largest upcoming hydrogen projects
- Asia’s largest upcoming hydrogen projects
- Asia in a global context
- Regional breakdown of low-carbon hydrogen capacity
- Low-carbon hydrogen competitiveness drivers
- Regional hydrogen capacity by stage and type
- Asia hydrogen capacity and key players
- Major barriers to low-carbon hydrogen deployment
- Hydrogen capacity low-case and high-case scenario
- Demand in Key Application Areas
- Intended use sectors for Asian hydrogen
- Transportation
- Low-carbon hydrogen for power
- Low-carbon hydrogen for synthetic fuels
- Iron & Steel
- Low-carbon hydrogen for ammonia in Asia
- Asia’s largest low-carbon ammonia projects
- Low-carbon hydrogen for the chemicals sector
- Asia’s natural gas demand
- Hydrogen blending and pipelines
- Policies, Projects, and Key Players
- Hydrogen production targets
- Hydrogen policies
- Funding initiatives and financial support
- Hydrogen agreements and partnerships
- Asia hydrogen deals
- Asian companies pursuing hydrogen
- Asia's largest upcoming hydrogen projects
- Major barriers to low-carbon hydrogen deployment
- Main low-carbon hydrogen projects for the iron and steel end-use sector
- as of December 2024
- Asia's largest low-carbon ammonia projects
- Hydrogen blending and pipelines
- Largest upcoming low-carbon hydrogen projects targeting gas blending in Asia
- as of December 2024
- Hydrogen agreements and partnerships
- Global Highlights
- Regional Highlights
- World's largest upcoming hydrogen projects
- Asia vs global low-carbon hydrogen capacity by development based on active and announced projects
- Regional breakdown of upcoming maximum capacity
- Asian average LCOE
- Solar Resources
- Wind Speed @ 100m
- Top 10 Asian countries' maximum low-carbon hydrogen capacity by project stage
- Top 10 Asian countries' maximum green and blue hydrogen capacity
- Companies' Net Capacity Share
- Major barriers to low-carbon hydrogen deployment
- Asia low-carbon hydrogen capacity scenarios 2025-2030
- Target end-use sectors for low-carbon hydrogen plants
- Asia's low-carbon hydrogen capacity for transportation by country 2023-2030
- Top 10 Asian countries' power consumption and demand 2024-2035
- Asia's low-carbon hydrogen capacity for power by development stage 2023-2030
- Asia's low-carbon hydrogen capacity for synthetic fuels by country 2030
- Companies with low-carbon hydrogen capacity for synthetic fuel industry in Asia 2024-2030
- Ammonia demand volume in top 5 Asian countries 2020-2030
- Asia's low-carbon ammonia production capacity 2023-2030
- Key Asian countries by demand for base chemicals in 2030
- Green methanol capacity as end product of low-carbon hydrogen per state 2030
- Asia's natural gas demand by type and sector bcm 2022
- Asia's natural gas demand by country bcm 2022
- Asia hydrogen deals
- Leading Asian companies by mentions of hydrogen in corporate filings 2022-2024YTD.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Adani Enterprises Ltd
- TotalEnergies SE
- Fortescue Future Industries Pty Ltd
- Beijing Jingneng Power Co Ltd
- Elixir Energy Ltd
- SoftBank Group
- Toyota Tsusho Corp
- NTPC Ltd
- GCL New Energy Holdings Ltd
- Enterprize Energy Pte Ltd
- Korea Electric Power Corp
- SK Inc
- ReNew Energy Global PLC
- Greenko Group
- ACME Cleantech Solutions Pvt Ltd
- Oil and Natural Gas Corp Ltd
- Hygenco India Pvt Ltd
- ABC Cleantech Pvt Ltd
- Hyosung Corp
- HD Hyundai Co Ltd
- GWM HYDROGEN-FTXT
- China Tianying Inc
- K&D Energen Co Ltd
- Hanwha Impact Co Ltd
- State Power Investment Corp Ltd
- ENEOS Corp
- China Baowu Steel Group Corp ltd
- Kaheel Energy FZE
- Oracle Power PLC
- State Gird Corporation of China
- China National Nuclear Corp
- China Three Gorges Corp
- Angang Energy Technology Co Ltd
- CIMC Enric Holding Ltd
- GS Energy Corp
- Jilin Electricity Power Co Ltd
- HLC Green Energy LLC
- Acwa Power Co
- Mitsubishi Gas Chemical Company
- China National Petroleum Corp
- China National Offshore Oil Corp
- Air Products and Chemicals Inc
- China National Petrochemical Corp
- Deokyang Co Ltd
- Air Liquide SA
- JSW Energy Ltd
- Gujarat Fluorochemicals Ltd
- PTT Public Co Ltd
- Indian Oil Corp Ltd
- Hyundai Motors Co
- CGN New Energy Holdings Co Ltd
- Reliance Industries Ltd
- GAIL (India) Ltd.
