Inspiring intelligent insight Rise above the pack. Hydrogen Energy & Fuel Cell Expo China – March 2023 An overview of China’s first tradeshow for H2 and fuel cell in 2023 Contents § Show facts and figures § Key highlights § Key Trends § New Vendors § Innovations § Research Reports § Meet the Team This report is based on our observations made at HE&FC Expo (part of CEEC) over a course of three days. Whilst we had numerous meetings, it was impossible for us to see everything. Inclusion here should not be viewed as an endorsement of any company nor is there any requirements/criteria to feature in this report. If you would like to meet with our analyst team in the future, please contact us. Confidential. © 2023 Interact Analysis. All Rights Reserved. Show Facts and Figures § CEEC covers an exhibition area of 35000 square meters and 20000+ registered attendees § CEEC consists of three topics: Hydrogen, energy storage, and photovoltaics § HE&FC Expo is the sub-show specific for hydrogen § HE&FC Expo has largest scale and occupies the largest hall. § 120+ exhibitors for CEEC, while 70+ exhibitors for HE&FC Expo § The exhibitors include fuel cell powertrain component suppliers and system integrators, H2 storage and distribution suppliers, electrolyzer suppliers, refueling system integrators and facility suppliers. § Half of the exhibitors are related to hydrogen production and infrastructure, electrolyzer suppliers dominates. 120+ Exhibitors Confidential. © 2023 Interact Analysis. All Rights Reserved. 35k+ Square meter 20000+ visitors 20+ Conference Sessions Key Highlights – HE&FC Expo This is the first hydrogen-specific tradeshow taking place in China after Covid restrictions have been fully lifted. § The industry is in its infancy - many of the technologies and products on display are not yet being deployed commercially. Despite policy-driven growth, the development of the fuel cell powertrain component market has stepped ahead of the market for clear H2 supply. However, the industry starts to pay more attention to the H2 supply, especially the green H2. The electrolyzer suppliers dominated the expo and attracted the most attention. § Most of the exhibitors are local vendors - boosting the hydrogen industry by local supply chain has always been encouraged. Two years ago, fuel cell powertrain components, including stacks, BOP and onboard H2 tank, relied very much on imports. But today, local vendors start to lead the supply. Talking to air compressor suppliers we got the sense that the made-in-China fuel cell compressors are competitive in both cost and technology. China has the inherent advantage of producing green hydrogen on a large scale, and the production capacity of Chinese electrolyzers is leading the world. Leading suppliers who attend the show including Sungrow (China), LONGi (China), John Cockerill Jingli (China&Belgium), SinoHy Energy (China) § The government plays an important role in pushing the hydrogen industry. Many people and groups from government agencies joined the exhibition, either as exhibitors or visitors. According to communication with the suppliers, government actions are the most important considerations in most of the hydrogen projects they undertake today. § The industrial development expects to accelerate significantly in 2023. Many exhibitors tell us that projects/orders are increasing quickly from the second half of 2022. The hydrogen market is expected to grow strongly in 2023, benefiting from the change in Covid policy. Confidential. © 2023 Interact Analysis. All Rights Reserved. FC Powertrain components Confidential. © 2023 Interact Analysis. All Rights Reserved. 5 FC system vendor showing their product with 100+ kw power output Five fuel cell suppliers display their fuel cell products, including fuel cell system and stacks for commercial vehicles: Sinohytec, Wenli, Sinosynergy, In-power Hydrogen Propulsion and Fenergy. Sinohytec has substantial market share in the fuel cell system market in China. It has a subsidiary (SinoFuelCell) focusing on stack production. Before 2021, many of Sinohytec’s fuel cell systems were equipped with stacks from Toyota. However, since last year, the majority of fuel cell systems are equipped with localized stacks from SinoFuelCell. The local stacks are also adopted by the rest of the fuel cell exhibitors. SHPT, another leading local fuel cell supplier with in-house stacks, is the shareholder of In-power Hydrogen Propulsion and provi