India Hydrogen Market to Grow with a CAGR of 7.35% through 2030
Rising Demand in the Fertilizers Sector is expected to drive the
India Hydrogen Market growth in the forecast period, 2026-2030.
According to TechSci Research report, “India Hydrogen
Market- By Region, Competition, Forecast and Opportunities,
2020-2030F”, the India Hydrogen Market achieved a total market volume of 7.12
Million Tonnes in 2024 and is anticipated to grow with a CAGR of 7.35% through
2030. Hydrogen
plays a crucial role as a feedstock in ammonia production, which is essential
for nitrogen-based fertilizers. The Haber-Bosch process, which synthesizes
ammonia, relies extensively on hydrogen. As agricultural productivity needs to
improve to meet rising food demands, the requirement for fertilizers and
consequently hydrogen is increasing. The Indian government’s initiatives to
boost agricultural output and support farmers include policies that promote
fertilizer production, further driving hydrogen demand. In April 2024, Indian
Farmers Fertiliser Cooperative Limited (IFFCO) and ACME Cleantech Solutions
Private Limited (ACME) signed a Memorandum of Understanding (MoU) under which
ACME will provide IFFCO with around 200,000 metric tons of ammonia produced using
renewable energy. This partnership supports the National Green Hydrogen
Mission.
Environmental regulations are compelling
the fertilizers sector to adopt cleaner technologies, including those that
utilize hydrogen to lower carbon emissions, thus driving demand for green
hydrogen. Technological advancements in hydrogen production and utilization are
making it more practical and cost-effective for the fertilizers industry to
integrate hydrogen. These innovations are attracting investment in hydrogen
production and infrastructure, supporting research, development, and deployment
of hydrogen technologies specific to the fertilizers sector.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "India Hydrogen Market”
The India Hydrogen Market is segmented into technology,
mode, application, regional distribution, and company.
Based on the Technology, the Membrane
Cell Technology emerged as the fastest growing segment in the Indian market for Hydrogen during the forecast period. There is a growing focus on producing green hydrogen, which is derived
from renewable energy sources. Membrane Cell Technology, especially Proton
Exchange Membrane (PEM) electrolysis, plays a crucial role in green hydrogen
production, supporting India’s objectives for reducing carbon emissions. In
July 2024, Cochin Shipyard Limited will debut India's first fully indigenous
hydrogen fuel cell catamaran vessel in Varanasi, highlighting the potential of
hydrogen fuel technology in the maritime sector. Advances in PEM electrolysis
is improving efficiency and lowering costs, making it a more feasible option
for hydrogen production compared to traditional methods. Significant investments are being made to
develop and scale up electrolysis technologies. Both major companies and
startups are expanding their capabilities in membrane cell technology to meet
the rising demand for sustainable hydrogen solutions. For example, in January
2024, THDC India Ltd inaugurated the country's largest green hydrogen pilot
project at its office complex in Rishikesh, Uttarakhand. This project includes
two storage tanks for green hydrogen, which will be used at night to power a 70
KW PEM fuel cell for lighting the office complex. THDC’s initiative, India's
largest electrolyzer-end fuel cell-based pilot, features a PEM hydrogen fuel
cell-based microgrid system and will demonstrate key technologies in green
hydrogen production and storage. Membrane Cell Technology is particularly
well-suited for integration with renewable energy sources, aligning with
India’s shift towards greener energy solutions and accelerating its adoption.
The Indian government is supporting this transition through various initiatives
and policies, including the National Hydrogen Energy Mission, which is driving
investments in electrolysis technologies such as membrane cells.
Based on the region, the North India emerged as the
fastest growing region in the Indian Hydrogen market during the forecast period.
The Indian
government has launched several initiatives to advance hydrogen production and
utilization. Northern states, particularly Uttar Pradesh and Haryana, have
actively utilized these policies to develop hydrogen infrastructure and
projects. The Uttar Pradesh government has allocated an INR 5,000 crore
incentive and financial support package to stimulate green hydrogen production
for industrial, petrochemical, and transportation applications. Northern India
is experiencing significant industrial expansion, with a growing number of
manufacturing and industrial facilities that require hydrogen, including those
in chemicals, fertilizers, and metal processing. The region has seen
substantial improvements in infrastructure for hydrogen production, storage,
and distribution, which are bolstering market growth. Additionally, investments
in renewable energy sources are crucial for green hydrogen production, and
Northern India’s focus on expanding its renewable energy capacity is driving
the growth of hydrogen technology. In April 2024, Indian Oil Corporation (IOC)
issued a tender for a 10-KTA Green Hydrogen Generation Unit (GHGU) at its
Panipat Refinery Petrochemical Complex, to be developed on a build-own-operate
(BOO) basis. Northern India is also seeing the launch of several pilot projects
and innovative ventures in hydrogen technology, further contributing to the
region's rapid growth in the hydrogen market.
Major companies operating in India Hydrogen Market
are:
- Reliance
Industries Limited
- Gujarat
Alkalies and Chemicals Limited
- Indian
Oil Corporation Limited
- INOX-Air
Products Inc.
- DCW
Limited
- Larsen
& Toubro Limited
- Grasim
Industries Limited.
- Bhuruka
Gases Limited
- Air
Liquide India
- Tata
Chemicals Limited
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“India's hydrogen market is experiencing rapid growth,
particularly with the push to incorporate hydrogen fuel cells into the
automotive industry. Government incentives and investments in green hydrogen
technology are accelerating the development of hydrogen-powered vehicles. This
transition is fueled by the demand for cleaner transportation options and the
expanding infrastructure for hydrogen refueling. As automotive manufacturers
invest in hydrogen fuel cell technology, India is set to emerge as a significant
player in the global hydrogen mobility sector, driving progress in
environmental sustainability and technological advancement,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“India Hydrogen Market By Technology (Steam Methane Reforming, Membrane Cell Technology, Methanol Reforming, Coal Gasification and others), By Mode (Captive, Merchant), By Application (Petroleum Refinery, Fertilizers, Chemical & Petrochemical, Metal Processing, Automotive, Energy and Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated the future growth potential of India Hydrogen
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India Hydrogen Market.
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