The India Green Hydrogen Market is projected to grow at a CAGR of almost 20% in the forecast period of 2025-30, cites MarkNtel Advisors in their recent research report. The market growth attributes to the rapidly increasing government concerns over the exponentially rising carbon emission & the critical need to reduce its effects on the environment to bring sustainability.
Such aspects are instigating the government to support the green hydrogen development and encouraging the leading players to indulge in various research & development activities. In addition, the critical need to develop & utilize clean resources for diverse applications across industries where hydrogen is relatively prevalent is demonstrating the greater potential for clean elements like green hydrogen. Hence, the market is set to witness significant growth in the coming years.
Besides, as the government is focused on bringing energy efficiency & minimizing dependency on fossil fuels, investments in green hydrogen as a solution to mitigate emissions while producing power are projected to shape the industry in the future, further states the research report, “India Green Hydrogen Market Analysis, 2025.”
Expansive Petrochemical Industry to Present Opportunities for Market Growth in the Future
Based on the End-Users, other industries like Petrochemicals are set to contribute substantially to the expansion of the India Green Hydrogen Market while generating lucrative opportunities for the leading players during the forecast period.
It owes principally to the rapidly increasing refining activities across the petroleum industry in India, augmenting the demand for hydrogen and generating opportunities for cleaner alternatives like green hydrogen for the desulphurization of products. Moreover, as the government is imposing stringent regulations to limit sulfur from petroleum products using hydrogen, green hydrogen might witness profitable opportunities & drive the market in the future.
The leading players in the India Green Hydrogen Market are Air Products, Adani Green Energy Ltd., Reliance Industries Ltd.. Some other potential players are Bharat Petroleum Corporation Limited (BPCL), and JSW Energy Neo Ltd.
Key Questions Answered in the Research Report