势银数据 | 2025年H1电解水制氢设备需求超2467MW，中标量已超去年全年水平

Core Insights - The domestic electrolysis water hydrogen production equipment market is experiencing accelerated demand release, with a total bidding scale of 2467.93 MW in the first half of 2025, surpassing the total for the entire previous year [2][4][20] - The competition landscape in the hydrogen production equipment market is intensifying, with a notable increase in market concentration [9][12] - The primary application scenario for hydrogen production equipment is integrated hydrogen-ammonia projects, accounting for approximately 67% of the orders [2][14] Group 1: Market Overview - As of June 2025, China has a total of 865 green hydrogen projects, with a disclosed potential production capacity of 1106.16 million tons per year, and an established capacity of 11.52 million tons per year [3] - The first half of 2025 saw significant progress in domestic green hydrogen projects, with several benchmark projects coming online, which are expected to provide replicable models [3][4] - The market for electrolysis water hydrogen production equipment is characterized by a growing number of direct contracts, with many orders not fully disclosing delivery scales and timelines [2][5] Group 2: Equipment Demand and Procurement - In the first half of 2025, there were 43 bidding projects for electrolysis water hydrogen production equipment, with a total bidding scale of 2467.93 MW, and a winning bid scale of 2441.93 MW, representing a 369% increase compared to the same period last year [4][20] - The procurement of electrolysis water hydrogen production equipment is primarily led by central state-owned enterprises, which account for about 52% of the green hydrogen projects and approximately 87% of the public bidding orders [6][9] - The majority of the public bidding orders are for alkaline (ALK) hydrogen production equipment, which constitutes about 89% of the total, with a small percentage for combination systems (ALK+PEM) and PEM [12][14] Group 3: Application Scenarios - The hydrogen production equipment in the first half of 2025 was predominantly used for hydrogen-ammonia integration, research, and green hydrogen preparation, with hydrogen-ammonia integration projects being the most significant application [14][18] - A notable project includes the 216 MW liquid sunlight project by China Coal Energy in Ordos, which is part of the hydrogen-ammonia integration scenario [14]