Increased ninefold year-on-year as hydrogen fuel cells accelerate into high gear.
2023-05-26
Increased ninefold year-on-year as hydrogen fuel cells accelerate into high gear.
A recent Guojin Securities research report indicated that FCV (fuel cell vehicle) installed capacity reached 45.8MW in April, a 9.9-fold year-on-year increase. In April, installed fuel cell systems reached 45.8MW, a 990% year-on-year increase. Of this, commercial vehicle installations accounted for 39.3MW, with light trucks accounting for the majority of installations this month. FCVs are expected to show strong growth throughout the year. With the implementation of detailed policies and the increasing maturity of the industry chain, the industry's volume is certain to increase, and FCVs are expected to continue doubling in 2023. Furthermore, the Guojin Securities research report noted that 2023 will be a year of rapid development for the hydrogen energy and fuel cell industries, with hydrogen energy and fuel cell manufacturing currently the two main areas of focus.
Fuel cell vehicles, with their fast refueling times and long driving range, are particularly suitable for long-distance, heavy-duty commercial vehicles, such as heavy-duty trucks, buses, and logistics vehicles. As a beneficial supplement to power batteries, fuel cells are transitioning from demonstration operations to the initial stages of commercialization. With the large-scale acceleration of infrastructure construction, fuel cells are also poised for significant growth. A fuel cell is a device that converts chemical energy stored in a fuel and an oxidant directly into electrical energy. When a fuel cell receives a continuous supply of fuel and oxidant from the outside world, it continuously generates electricity. Fuel cell technology has been applied in a variety of fields, including transportation, power generation, industrial production, and mobile devices. Transportation is the most widely used sector, and fuel cell vehicles have entered commercial production. Compared to traditional vehicles, they offer advantages such as zero pollution, low noise, and high efficiency.
In recent years, my country's policies on fuel cells have become increasingly concentrated and strategically prioritized. Fuel cell development plans have become more detailed and specific, and financial subsidies have expanded from pilot cities to nationwide. With strong government subsidies and support, my country's fuel cell industrialization is steadily advancing. Numerous demonstration projects have been launched in recent years, and commercial applications are gradually taking off. Judging by the plans of major commercial vehicle companies, the fuel cell era has begun, and commercial applications are already underway. International commercial vehicle giants Daimler and Mercedes-Benz, leading domestic commercial vehicle companies FAW Jiefang and Sinotruk, and neighboring countries such as Hyundai Motor of South Korea and Toyota of Japan, along with engine giants Cummins, Weichai Power of China, and Yuchai, have all established their presence in the hydrogen fuel cell, vehicle, and hydrogen production supply chains. In June 2022, Volvo Trucks officially announced that a pure electric heavy-duty truck equipped with a hydrogen fuel cell and boasting a range of up to 1,000 kilometers has entered the testing phase, with mass production expected in 2030. At the 2022 Hanover Motor Show in Germany, major international commercial vehicle giants unveiled hydrogen fuel cell trucks. The Mercedes-Benz GenH2 fuel cell concept heavy-duty truck, equipped with an 80kg liquid gas tank, boasts a range of 1,000 kilometers. Iveco Group and Hyundai Motor Company unveiled the first Iveco eDAILY fuel cell electric light truck, offering a range of 350 kilometers and requiring only 15 minutes to recharge. It is slated for mass production and delivery by the end of 2023. In the Beijing Economic and Technological Development Zone, Toyota's fuel cell R&D and production project has officially launched, slated for completion by the end of 2023 and commencement of production in 2024. This is the largest foreign-funded project in Beijing's hydrogen energy sector. It will integrate Toyota technology, collaborate on the development of domestically produced fuel cells, and achieve large-scale production of fuel cell systems. Although fuel cell vehicle development in China has tended to prioritize commercial vehicles over passenger vehicles, mainstream automakers have not given up on developing and deploying fuel cell passenger vehicles. Domestic automakers such as SAIC, GAC, FAW, and Changan have successively invested in this sector, releasing hydrogen fuel cell passenger vehicles and planning demonstration operations. Examples include the Changan Deep Blue SL03 hydrogen fuel cell vehicle and the upcoming demonstration operation of the full-power Dongfeng Hydrogen Boat H2 e fuel cell passenger vehicle. At the end of September 2022, Shanghai's fuel cell ride-hailing service officially began operations, with the first batch of 80 "SAIC Maxus MIFA Hydrogen" vehicles deployed primarily in the Shanghai area. This signals a new phase in the development of the fuel cell passenger vehicle market, which had previously been relatively slow. By 2022, China will have sold over 3,000 hydrogen fuel cell systems and fuel cell vehicles, bringing the cumulative total to over 13,000. China ranks first globally in commercial vehicle fuel cell applications. Applications have expanded from initially focusing on large buses to encompassing the entire commercial vehicle range. Over 60 vehicle manufacturers have launched fuel cell vehicles, and over 70 fuel cell engine system companies have launched fuel cell vehicles.
With technological advancements and economies of scale, fuel cell production and operating costs will decrease, increasing competitiveness, and the potential market for fuel cells will gradually develop. Fuel cells can be categorized by the type of fuel they use as a fuel source: hydrogen, methane, methanol, and gasoline. Of all fuel cell types, hydrogen fuel cells are experiencing particularly rapid growth and offer the broadest commercial prospects. Hydrogen is an abundant, green, low-carbon, and widely applicable secondary energy source. Its development is crucial for reducing greenhouse gas emissions such as carbon dioxide and achieving carbon peak and carbon neutrality goals. my country has a strong hydrogen production foundation and is the world's largest hydrogen producer, with an annual output of approximately 33 million tons. China has mastered key technologies and production processes for hydrogen production, storage and transportation, refueling, fuel cells, and system integration, giving it significant advantages. In March 2022, the National Development and Reform Commission and the National Energy Administration jointly issued the "Medium- and Long-Term Plan for Hydrogen Energy Industry Development (2021-2035)." This plan clearly stated that by 2025, core technologies and manufacturing processes will be essentially mastered, a fuel cell vehicle fleet of approximately 50,000 will be established, a number of hydrogen refueling stations will be deployed, and renewable energy hydrogen production will reach 100,000 to 200,000 tons per year. Subsequently, the National Energy Administration issued the "Action Plan for Improving Standardization of Energy Carbon Peaking and Carbon Neutrality," which proposed further promoting standardized management of hydrogen energy industry development and accelerating the improvement of the top-level design and system of hydrogen energy standards. This plan will focus on increasing the effective supply of standards in areas such as renewable energy hydrogen production, electric-hydrogen coupling, fuel cells, and systems.
At the same time, local governments have also successively introduced policies to vigorously develop hydrogen batteries. Policies promoting hydrogen energy development in Shaanxi, Jilin, and Jiangsu, among others, cover a variety of areas, including the construction of hydrogen energy infrastructure, the promotion of fuel cell vehicles, and the development of a hydrogen energy industry ecosystem. Local hydrogen energy industry development documents, such as the "Nanjing Action Plan for Accelerating the Development of the Energy Storage and Hydrogen Energy Industry (2023-2025)" and the "Zhengzhou City Main Urban Area Fuel Cell Vehicle Hydrogen Refueling Station Layout Special Plan (2022-2025)," both set development goals for 2025 to guide the orderly and healthy development of the hydrogen energy industry in various regions. The public's familiarity with hydrogen fuel cells is inseparable from the 2022 Beijing Winter Olympics. Over 1,000 hydrogen fuel cell vehicles were used at the Winter Olympics, operating continuously and stably under harsh conditions. This was the world's largest hydrogen fuel cell vehicle demonstration operation to date. This demonstration also exposed the development potential of hydrogen batteries. In the future, with breakthroughs in renewable energy hydrogen production technology and cost reductions, the proportion of hydrogen energy will further increase. It is estimated that my country's hydrogen production will reach 43.32 million tons in 2023.
Currently, the domestic hydrogen fuel cell industry chain, from the vehicle to the fuel cell, is in a promising future. The entire fuel cell vehicle industry chain, from the vehicle to the fuel cell, has a solid foundation for development. The upstream hydrogen production sector, especially green hydrogen production, and high-efficiency, low-cost fuel cells for vehicles represent the two sectors with the greatest potential for development in the industry chain. Furthermore, multi-faceted capital investment is driving the rapid development of the hydrogen battery industry. According to incomplete statistics from Gaogong Hydrogen & Electricity (GGII), China's investment and financing in the hydrogen fuel cell industry reached 51.52 billion yuan in 2020, a year-on-year increase of 78.5%. By the end of 2022, global direct investment in hydrogen energy reached nearly $250 billion; the International Hydrogen Energy Commission predicts that this total investment will reach $500 billion by 2030. Furthermore, the addition of government subsidies has boosted the enthusiasm and initiative of hydrogen fuel cell companies. These subsidies are diverse, including subsidies for hydrogen fuel cell vehicles, hydrogen refueling station construction, and hydrogen subsidies. For example, in Shanghai, each hydrogen refueling station can receive up to 5 million yuan in funding, and the retail price of hydrogen is clearly set at no more than 35 yuan per kilogram. According to incomplete statistics, domestic A-share listed companies have issued 17,100 announcements regarding their hydrogen energy industry development plans since the beginning of this year, with 183 companies announcing their entry. Data from Qichacha shows that 339 hydrogen energy companies were registered in my country in the first half of this year, an 89% year-on-year increase, demonstrating the rapid growth of the hydrogen fuel cell vehicle industry. The infrastructure for hydrogen fuel cell vehicles, including fuel supply, is fundamentally different from that of traditional vehicles and requires a complete rebuild. This represents a vast system and network that will likely take a significant period of time to complete. Furthermore, technological innovation and investment are required across all aspects of the hydrogen fuel supply chain. Strengthening hydrogen storage and transportation capabilities and improving infrastructure such as hydrogen refueling stations are key to the widespread adoption of hydrogen fuel cell vehicles.
China already has certain advantages in hydrogen production. The "Medium- and Long-Term Plan for Hydrogen Energy Industry Development (2021-2035)" states that China is the world's largest hydrogen producer, with an annual output of approximately 33 million tons, of which approximately 12 million tons meet industrial quality standards. China leads the world in installed renewable energy capacity and holds enormous potential for supplying clean, low-carbon hydrogen energy. Improving the layout of hydrogen refueling stations is also an essential prerequisite for developing the hydrogen vehicle industry. In recent years, infrastructure development related to the fuel cell industry has been steadily accelerating across the country. For example, Beijing and Shanghai have achieved remarkable results in infrastructure development. According to the "Beijing Hydrogen Fuel Cell Vehicle and Hydrogen Refueling Station Development Plan (2021-2025)," Beijing aims to promote the use of 3,000 hydrogen fuel cell vehicles by 2023 and to achieve a cumulative total of over 10,000 hydrogen fuel cell vehicles by 2025. Furthermore, the city aims to build and operate 37 hydrogen refueling stations by 2023, with a total refueling capacity of 74 tons/day, meeting a daily demand for 47 tons of hydrogen for vehicles. By 2025, the city aims to build and operate 74 hydrogen refueling stations, with a total refueling capacity of 148 tons/day, meeting a daily demand for 126 tons of hydrogen for vehicles. In recent years, Shanghai has also built over ten hydrogen refueling stations. The "Shanghai Hydrogen Energy Industry Development Medium- and Long-Term Plan (2022-2035)" proposes that by 2025, approximately 70 hydrogen refueling stations of various types will be built, the number of fuel cell vehicles on the road will exceed 10,000, and the hydrogen energy industry chain will exceed 100 billion yuan in scale, driving annual carbon dioxide emissions reductions of 50,000 to 100,000 tons in the transportation sector.
Last September, at a press conference on infrastructure construction by the National Development and Reform Commission, officials from the National Energy Administration announced that China has built over 270 hydrogen refueling stations, accounting for approximately 40% of the global total and ranking first. Currently, due to technological and other constraints, hydrogen fuel cell vehicles are still in their early stages of development, with low vehicle ownership. Sales in 2022 are expected to be just over 3,000 units, far behind new energy vehicles. In the future, with continued advancements in hydrogen production, transportation, and storage technologies, as well as the construction and widespread use of infrastructure such as hydrogen refueling stations, hydrogen fuel cell vehicles will become a crucial technology path that automakers cannot ignore. Hydrogen fuel cells will have significant potential for development, particularly in the commercial vehicle sector.
From Sina Auto
Previous post:
Increased ninefold year-on-year as hydrogen fuel cells accelerate into high gear.
2023-05-26
Increased ninefold year-on-year as hydrogen fuel cells accelerate into high gear.
A recent Guojin Securities research report indicated that FCV (fuel cell vehicle) installed capacity reached 45.8MW in April, a 9.9-fold year-on-year increase. In April, installed fuel cell systems reached 45.8MW, a 990% year-on-year increase. Of this, commercial vehicle installations accounted for 39.3MW, with light trucks accounting for the majority of installations this month. FCVs are expected to show strong growth throughout the year. With the implementation of detailed policies and the increasing maturity of the industry chain, the industry's volume is certain to increase, and FCVs are expected to continue doubling in 2023. Furthermore, the Guojin Securities research report noted that 2023 will be a year of rapid development for the hydrogen energy and fuel cell industries, with hydrogen energy and fuel cell manufacturing currently the two main areas of focus.
Fuel cell vehicles, with their fast refueling times and long driving range, are particularly suitable for long-distance, heavy-duty commercial vehicles, such as heavy-duty trucks, buses, and logistics vehicles. As a beneficial supplement to power batteries, fuel cells are transitioning from demonstration operations to the initial stages of commercialization. With the large-scale acceleration of infrastructure construction, fuel cells are also poised for significant growth. A fuel cell is a device that converts chemical energy stored in a fuel and an oxidant directly into electrical energy. When a fuel cell receives a continuous supply of fuel and oxidant from the outside world, it continuously generates electricity. Fuel cell technology has been applied in a variety of fields, including transportation, power generation, industrial production, and mobile devices. Transportation is the most widely used sector, and fuel cell vehicles have entered commercial production. Compared to traditional vehicles, they offer advantages such as zero pollution, low noise, and high efficiency.
In recent years, my country's policies on fuel cells have become increasingly concentrated and strategically prioritized. Fuel cell development plans have become more detailed and specific, and financial subsidies have expanded from pilot cities to nationwide. With strong government subsidies and support, my country's fuel cell industrialization is steadily advancing. Numerous demonstration projects have been launched in recent years, and commercial applications are gradually taking off. Judging by the plans of major commercial vehicle companies, the fuel cell era has begun, and commercial applications are already underway. International commercial vehicle giants Daimler and Mercedes-Benz, leading domestic commercial vehicle companies FAW Jiefang and Sinotruk, and neighboring countries such as Hyundai Motor of South Korea and Toyota of Japan, along with engine giants Cummins, Weichai Power of China, and Yuchai, have all established their presence in the hydrogen fuel cell, vehicle, and hydrogen production supply chains. In June 2022, Volvo Trucks officially announced that a pure electric heavy-duty truck equipped with a hydrogen fuel cell and boasting a range of up to 1,000 kilometers has entered the testing phase, with mass production expected in 2030. At the 2022 Hanover Motor Show in Germany, major international commercial vehicle giants unveiled hydrogen fuel cell trucks. The Mercedes-Benz GenH2 fuel cell concept heavy-duty truck, equipped with an 80kg liquid gas tank, boasts a range of 1,000 kilometers. Iveco Group and Hyundai Motor Company unveiled the first Iveco eDAILY fuel cell electric light truck, offering a range of 350 kilometers and requiring only 15 minutes to recharge. It is slated for mass production and delivery by the end of 2023. In the Beijing Economic and Technological Development Zone, Toyota's fuel cell R&D and production project has officially launched, slated for completion by the end of 2023 and commencement of production in 2024. This is the largest foreign-funded project in Beijing's hydrogen energy sector. It will integrate Toyota technology, collaborate on the development of domestically produced fuel cells, and achieve large-scale production of fuel cell systems. Although fuel cell vehicle development in China has tended to prioritize commercial vehicles over passenger vehicles, mainstream automakers have not given up on developing and deploying fuel cell passenger vehicles. Domestic automakers such as SAIC, GAC, FAW, and Changan have successively invested in this sector, releasing hydrogen fuel cell passenger vehicles and planning demonstration operations. Examples include the Changan Deep Blue SL03 hydrogen fuel cell vehicle and the upcoming demonstration operation of the full-power Dongfeng Hydrogen Boat H2 e fuel cell passenger vehicle. At the end of September 2022, Shanghai's fuel cell ride-hailing service officially began operations, with the first batch of 80 "SAIC Maxus MIFA Hydrogen" vehicles deployed primarily in the Shanghai area. This signals a new phase in the development of the fuel cell passenger vehicle market, which had previously been relatively slow. By 2022, China will have sold over 3,000 hydrogen fuel cell systems and fuel cell vehicles, bringing the cumulative total to over 13,000. China ranks first globally in commercial vehicle fuel cell applications. Applications have expanded from initially focusing on large buses to encompassing the entire commercial vehicle range. Over 60 vehicle manufacturers have launched fuel cell vehicles, and over 70 fuel cell engine system companies have launched fuel cell vehicles.
With technological advancements and economies of scale, fuel cell production and operating costs will decrease, increasing competitiveness, and the potential market for fuel cells will gradually develop. Fuel cells can be categorized by the type of fuel they use as a fuel source: hydrogen, methane, methanol, and gasoline. Of all fuel cell types, hydrogen fuel cells are experiencing particularly rapid growth and offer the broadest commercial prospects. Hydrogen is an abundant, green, low-carbon, and widely applicable secondary energy source. Its development is crucial for reducing greenhouse gas emissions such as carbon dioxide and achieving carbon peak and carbon neutrality goals. my country has a strong hydrogen production foundation and is the world's largest hydrogen producer, with an annual output of approximately 33 million tons. China has mastered key technologies and production processes for hydrogen production, storage and transportation, refueling, fuel cells, and system integration, giving it significant advantages. In March 2022, the National Development and Reform Commission and the National Energy Administration jointly issued the "Medium- and Long-Term Plan for Hydrogen Energy Industry Development (2021-2035)." This plan clearly stated that by 2025, core technologies and manufacturing processes will be essentially mastered, a fuel cell vehicle fleet of approximately 50,000 will be established, a number of hydrogen refueling stations will be deployed, and renewable energy hydrogen production will reach 100,000 to 200,000 tons per year. Subsequently, the National Energy Administration issued the "Action Plan for Improving Standardization of Energy Carbon Peaking and Carbon Neutrality," which proposed further promoting standardized management of hydrogen energy industry development and accelerating the improvement of the top-level design and system of hydrogen energy standards. This plan will focus on increasing the effective supply of standards in areas such as renewable energy hydrogen production, electric-hydrogen coupling, fuel cells, and systems.
At the same time, local governments have also successively introduced policies to vigorously develop hydrogen batteries. Policies promoting hydrogen energy development in Shaanxi, Jilin, and Jiangsu, among others, cover a variety of areas, including the construction of hydrogen energy infrastructure, the promotion of fuel cell vehicles, and the development of a hydrogen energy industry ecosystem. Local hydrogen energy industry development documents, such as the "Nanjing Action Plan for Accelerating the Development of the Energy Storage and Hydrogen Energy Industry (2023-2025)" and the "Zhengzhou City Main Urban Area Fuel Cell Vehicle Hydrogen Refueling Station Layout Special Plan (2022-2025)," both set development goals for 2025 to guide the orderly and healthy development of the hydrogen energy industry in various regions. The public's familiarity with hydrogen fuel cells is inseparable from the 2022 Beijing Winter Olympics. Over 1,000 hydrogen fuel cell vehicles were used at the Winter Olympics, operating continuously and stably under harsh conditions. This was the world's largest hydrogen fuel cell vehicle demonstration operation to date. This demonstration also exposed the development potential of hydrogen batteries. In the future, with breakthroughs in renewable energy hydrogen production technology and cost reductions, the proportion of hydrogen energy will further increase. It is estimated that my country's hydrogen production will reach 43.32 million tons in 2023.
Currently, the domestic hydrogen fuel cell industry chain, from the vehicle to the fuel cell, is in a promising future. The entire fuel cell vehicle industry chain, from the vehicle to the fuel cell, has a solid foundation for development. The upstream hydrogen production sector, especially green hydrogen production, and high-efficiency, low-cost fuel cells for vehicles represent the two sectors with the greatest potential for development in the industry chain. Furthermore, multi-faceted capital investment is driving the rapid development of the hydrogen battery industry. According to incomplete statistics from Gaogong Hydrogen & Electricity (GGII), China's investment and financing in the hydrogen fuel cell industry reached 51.52 billion yuan in 2020, a year-on-year increase of 78.5%. By the end of 2022, global direct investment in hydrogen energy reached nearly $250 billion; the International Hydrogen Energy Commission predicts that this total investment will reach $500 billion by 2030. Furthermore, the addition of government subsidies has boosted the enthusiasm and initiative of hydrogen fuel cell companies. These subsidies are diverse, including subsidies for hydrogen fuel cell vehicles, hydrogen refueling station construction, and hydrogen subsidies. For example, in Shanghai, each hydrogen refueling station can receive up to 5 million yuan in funding, and the retail price of hydrogen is clearly set at no more than 35 yuan per kilogram. According to incomplete statistics, domestic A-share listed companies have issued 17,100 announcements regarding their hydrogen energy industry development plans since the beginning of this year, with 183 companies announcing their entry. Data from Qichacha shows that 339 hydrogen energy companies were registered in my country in the first half of this year, an 89% year-on-year increase, demonstrating the rapid growth of the hydrogen fuel cell vehicle industry. The infrastructure for hydrogen fuel cell vehicles, including fuel supply, is fundamentally different from that of traditional vehicles and requires a complete rebuild. This represents a vast system and network that will likely take a significant period of time to complete. Furthermore, technological innovation and investment are required across all aspects of the hydrogen fuel supply chain. Strengthening hydrogen storage and transportation capabilities and improving infrastructure such as hydrogen refueling stations are key to the widespread adoption of hydrogen fuel cell vehicles.
China already has certain advantages in hydrogen production. The "Medium- and Long-Term Plan for Hydrogen Energy Industry Development (2021-2035)" states that China is the world's largest hydrogen producer, with an annual output of approximately 33 million tons, of which approximately 12 million tons meet industrial quality standards. China leads the world in installed renewable energy capacity and holds enormous potential for supplying clean, low-carbon hydrogen energy. Improving the layout of hydrogen refueling stations is also an essential prerequisite for developing the hydrogen vehicle industry. In recent years, infrastructure development related to the fuel cell industry has been steadily accelerating across the country. For example, Beijing and Shanghai have achieved remarkable results in infrastructure development. According to the "Beijing Hydrogen Fuel Cell Vehicle and Hydrogen Refueling Station Development Plan (2021-2025)," Beijing aims to promote the use of 3,000 hydrogen fuel cell vehicles by 2023 and to achieve a cumulative total of over 10,000 hydrogen fuel cell vehicles by 2025. Furthermore, the city aims to build and operate 37 hydrogen refueling stations by 2023, with a total refueling capacity of 74 tons/day, meeting a daily demand for 47 tons of hydrogen for vehicles. By 2025, the city aims to build and operate 74 hydrogen refueling stations, with a total refueling capacity of 148 tons/day, meeting a daily demand for 126 tons of hydrogen for vehicles. In recent years, Shanghai has also built over ten hydrogen refueling stations. The "Shanghai Hydrogen Energy Industry Development Medium- and Long-Term Plan (2022-2035)" proposes that by 2025, approximately 70 hydrogen refueling stations of various types will be built, the number of fuel cell vehicles on the road will exceed 10,000, and the hydrogen energy industry chain will exceed 100 billion yuan in scale, driving annual carbon dioxide emissions reductions of 50,000 to 100,000 tons in the transportation sector.
Last September, at a press conference on infrastructure construction by the National Development and Reform Commission, officials from the National Energy Administration announced that China has built over 270 hydrogen refueling stations, accounting for approximately 40% of the global total and ranking first. Currently, due to technological and other constraints, hydrogen fuel cell vehicles are still in their early stages of development, with low vehicle ownership. Sales in 2022 are expected to be just over 3,000 units, far behind new energy vehicles. In the future, with continued advancements in hydrogen production, transportation, and storage technologies, as well as the construction and widespread use of infrastructure such as hydrogen refueling stations, hydrogen fuel cell vehicles will become a crucial technology path that automakers cannot ignore. Hydrogen fuel cells will have significant potential for development, particularly in the commercial vehicle sector.
From Sina Auto
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