India Hydrogen Market Set To Cross $365 Million by 2022
According
to TechSci Research report “India Hydrogen Market By Technology, By Mode, By Application, Competition Forecast& Opportunities, 2012 – 2022’’, hydrogen
market in India is forecast to reach $ 365 million by 2022. In 2016, Gujarat
Alkalies and Chemicals Limited held the largest market share; however, with the
announced merger of Linde and Praxair expected to be completed in the coming
few years, the new combined entity is anticipated to capture the largest market
share in India hydrogen market by 2022. Evolving technologies and rising demand
for on-site hydrogen from refineries and chemical and petrochemical plants is
likely to aid Linde-Praxair’s dominating market position.
Browse 19
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in-depth TOC on "India Hydrogen Market"https://www.techsciresearch.com/report/india-hydrogen-market/1758.html
In India, major sources of hydrogen include steam reforming
of naphtha and natural gas, chlor-alkali production and electrolysis of
hydrogen. Petroleum refineries also install on-purpose hydrogen production
facilities to address the growing need for hydro-desulfurization of fuels such
as diesel and petrol. India hydrogen market is dominated by the captive mode of
consumption as it is used to produce ammonia and methanol. West India accounts
for the largest share in hydrogen market in the country, due to the presence of
refineries and chemical and petrochemical companies such as Reliance
Industries, Essar Oil, Indian Oil Corporation, Grasim Industries, Tata
Chemicals and others in the region.
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“Growing economy is
expected to give a boost to chemical consumption in the country, which would
create huge opportunities for investments in the chemical sector, thereby
aiding India hydrogen market during the forecast period. Growing government
regulations towards desulfurization of petroleum products and intensifying
demand for cleaner fuels are some of the other factors that would positively
influence the hydrogen market in India over the course of next five years.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“India
Hydrogen Market By Technology, By Mode, By Application, Competition Forecast
& Opportunities, 2012 – 2022’’ has
evaluated the future growth potential of India hydrogen market and provides
statistics and information on market size, structure and trends. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment evaluation. 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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