Having improved its sales in 2023, and expecting a further increase in 2024, Bosch is focusing on innovation and sustainable mobility. Hydrogen will be one of the levers.

At its annual press conference, Bosch reasserted its commercial expectations for hydrogen. By 2030, its sales in this industry could reach €5 billion. Stefan Hartung, board of management chairman at the group pointed out that: “in 2023, we launched production of fuel-cell systems in Stuttgart, Germany, and Chongqing, China.” China is likely to be the largest hydrogen market initially, as Bosch does not expect major growth in Europe or North America until the next decade.

From a technical standpoint, the group stresses that hydrogen engines represent the fastest way of decarbonising road freight transport. Bosch estimates that the market value of this technology will be close to €1 billion by 2030. At this stage, Stefan Hartung announces an initial deployment in India as early as this year, and five orders from leading truck manufacturers in the world’s three major economic regions.

But there’s more. Bosch also has its eye on the fast-growing market for hydrogen production. According to the German group, by 2030 there will be around 170 gigawatts of installed hydrogen electrolysis capacity worldwide (about 25 times more than today). “Our electrolysis stack is on course for market entry next year,” Hartung said. “In the future, Bosch will be synonymous not only with hydrogen powertrains, but also with hydrogen production. As a supplier, we will actively help shape the future market.”

To keep up with the latest hydrogen news and updates in China, check out our page here. 

Don’t forget to Follow us on LinkedIn for more regular content and updates

Article written by Laurent Meillaud and translated by Mariem Ben Tili