Producer
Hangyang Co., Ltd. (杭氧集团)
Hangyang Co., Ltd. (SH: 002430; Hangzhou, Zhejiang; ~¥11B revenue 2023) is China's largest and the world's fourth-largest cryogenic ASU manufacturer. Founded 1950 as a state-owned enterprise in Hangzhou; produces ASUs ranging from small medical oxygen units to very large plants (60,000+ Nm³/h oxygen). China's massive steel industry (producing ~57% of global crude steel) drove Hangyang's scale-up over 2000-2020. Hangyang is now a competitive global ASU supplier bidding against Linde and Air Liquide in developing markets (Southeast Asia, Middle East, Africa). Also manufactures LNG cold boxes and gas storage equipment. Listed on Shenzhen Stock Exchange. Increasingly cited as a competitive threat in markets where Western ASU OEMs face sanctions or cost pressure.
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Inputs supplied
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Goods downstream
2
Facilities
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Stories
What they make
2 inputs Hangyang Co., Ltd. (杭氧集团) supplies
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Goods downstream
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Where they make it
2 facilities
Hangyang Main Manufacturing Campus →
CNHangzhou, Zhejiang · manufacturing
World's largest ASU manufacturing base. Annual production capacity 1.8 million m³ total. >4,000 ASU sets delivered from this site.
Hangyang Manufacturing Base (Hangzhou) →
CNZhejiang · manufacturing
Hangyang Co. Ltd. main manufacturing and R&D campus in Hangzhou, Zhejiang Province, China. Produces cryogenic air separation units ranging from 20 Nm³/h to 60,000+ Nm³/h oxygen capacity. Primary supplier of ASUs to China's steel industry (which produces ~57% of global crude steel). Hangyang's Hangzhou facility is the largest ASU manufacturing base in Asia. Listed company (SH: 002430). Source: https://www.hangyang.com/company.html
What else they do
Business segments
The company's full revenue map, where this supply-chain role fits within their broader business.
Cryogenic Air Separation Units (ASU)
70%LNG Equipment and Cold Boxes
20%Industrial Gas Supply
10%
Intelligence
What's known
Sourced claims about this company's role in supply chains, chokepoints, concentration, incidents, dual-use connections.
Concentration2021
Hangyang holds over 50% domestic Chinese market share for large cryogenic air separation units and has exported to 40+ countries. As China continues to dominate global ASU manufacturing on cost, Western firms Linde Engineering, Air Products Engineering, and Air Liquide Engineering face competition not just in China but in emerging markets where Hangyang's lower-cost plants are being installed. Hangyang holds the world record for largest ASU: 120,000 m³/hr for Shenhua's coal-to-liquids plant.
Gasworld ↗