UPDATED – 15 July 2021

Hydrogen Council, in collaboration with McKinsey & Company, published an updated perspective on hydrogen investment, market development and momentum in China. Since the publication of the Hydrogen Insights report in February 2021, more countries have committed to decarbonisation targets and large-scale clean hydrogen projects have been announced, amounting to over ten million tons of total capacity by 2030 or about a third of total clean hydrogen demand growth expected in the next decade.

For the international shipping of hydrogen, ammonia, LOHC and liquid hydrogen are the main considered vectors. While Europe and East Asia continue to lead in hydrogen, regions rich in renewables and carbon storage are stepping in to supply clean hydrogen. And China is emerging as a potential hydrogen giant: following its announcement to target net-zero emissions by 2060, plans to achieve “peak carbon” in various sectors, including aviation and steel before 2030, have been put forward and over 50 hydrogen projects have been announced. View the full Executive Summary here.