China Power-to-x Market Size & Outlook, 2024-2030
China power-to-x market, 2018-2030 (US$M)
Related Markets
China power-to-x market highlights
- The China power-to-x market generated a revenue of USD 43.9 million in 2024 and is expected to reach USD 75.7 million by 2030.
- The China market is expected to grow at a CAGR of 9.8% from 2025 to 2030.
- In terms of segment, power-to-h2 was the largest revenue generating technology in 2024.
- Power-to-Methanol is the most lucrative technology segment registering the fastest growth during the forecast period.
Power-to-x market data book summary
| Market revenue in 2024 | USD 43.9 million |
| Market revenue in 2030 | USD 75.7 million |
| Growth rate | 9.8% (CAGR from 2025 to 2030) |
| Largest segment | Power-to-h2 |
| Fastest growing segment | Power-to-Methanol |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Power-to-H2, Power-to-CO/Syngas/Formic Acid, Power-to-NH3, Power-to-Methane, Power-to-Methanol, Power-to-H202 |
| Key market players worldwide | Air Liquide SA, Alfa Laval AB, Copenhagen Infrastructure Partners, Engie SA, ITM Power PLC, Linde PLC, Mitsubishi Corp, Siemens Energy, Thyssenkrupp AG, Valmet Corp |
Other key industry trends
- In terms of revenue, China accounted for 12.7% of the global power-to-x market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China power-to-x market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 4.4 million by 2030.
Power-to-h2 was the largest segment with a revenue share of 51.25% in 2024. Horizon Databook has segmented the China power-to-x market based on power-to-h2, power-to-co/syngas/formic acid, power-to-nh3, power-to-methane, power-to-methanol, power-to-h202 covering the revenue growth of each sub-segment from 2018 to 2030.
The PtX market in China is experiencing significant growth, driven by the country's ambitious energy transition goals and its commitment to achieving carbon neutrality by 2060. Substantial investments in infrastructure and research aimed at enhancing the efficiency and scalability of PtX solutions, the increasing focus on energy security, and the need to reduce reliance on fossil fuels also bode well for market growth.
The Chinese government is actively promoting the development of renewable energy sources, particularly wind and solar power, which are essential for PtX technologies that convert surplus electricity into hydrogen and other synthetic fuels. Integrating PtX technologies is seen as a critical strategy for decarbonizing hard-to-abate industries, such as transportation and heating.
In China, renewable energy costs are plummeting in line with the advances in technology, making green hydrogen production more feasible. Lower energy costs from improved solar and wind technologies are also reducing electrolysis expenses. As a result, China is well-positioned to lead in green hydrogen and advance its energy transition goals.
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Power-to-X Market Scope
Power-to-X Market Companies
| Name | Profile | # Employees | HQ | Website |
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China power-to-x market size, by technology, 2018-2030 (US$M)
China Power-to-X Market Outlook Share, 2024 & 2030 (US$M)
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