India Green Hydrogen Value Expected to Reach USD 34.0 Billion by 2030

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The India Green Hydrogen Market size was valued at around USD 9 billion in 2024 and is expected to reach USD 34.0 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 20.89% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. The market's expansion is attributed to the escalating government initiatives aimed at catalyzing both the supply and demand for green hydrogen nationwide. Also, rising regulation and policies to reduce carbon emissions have compelled the country to explore cleaner and more potent energy sources, for various industrial processes including steel, shipping, and automotive sectors. Consequently, due to these factors, the production of green hydrogen as a renewable energy source is poised to experience substantial growth in the foreseeable future.

Furthermore, India has implemented various policies and guidelines to promote the advancement of green hydrogen, including initiatives such as the Green Hydrogen Policy, Niti Ayog's efforts to increase green hydrogen production, and the National Green Hydrogen Mission (NGHM). The NGHM has set ambitious objectives, aiming to achieve a green hydrogen production capacity of at least 5 million metric tons per year and attracting investments around USD 96.68 billion. Hence, to facilitate these goals, the government has taken significant measures, including the exemption of inter-state transmission charges and granting open grid access to GH2 plants. Also, in the latest budget, the government allocated USD2.39 billion for diverse programs designed to boost green hydrogen, encompassing initiatives for domestic electrolyzer manufacturing and green hydrogen production.

In addition, Indian government's commitment to green hydrogen production in the near future, private sector players have already initiated efforts in the green hydrogen space. Furthermore, the national hydrogen mission has the potential to elevate green hydrogen's share in the total hydrogen demand to nearly 46% by 2030. In recent years, India has extensive experience in binding power from renewable sources, positioning it as a pivotal player in the development of affordable green hydrogen fuel for the Indian market in the upcoming years. These factors are poised to further augment the market's size in the years to come, further states the research report, “India Green Hydrogen Market Analysis, 2025.”

India Green Hydrogen Market Segmentation Analysis

Based on Technology, Alkaline Electrolyzer Would Hold Major Share of the India Green Hydrogen Market

Based on Technology, the market is bifurcated into Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzers, Solid Oxide Electrolyzers and Others. Among them, Alkaline Electrolyzer is expected to captured a notable growth in the India Green Hydrogen Market during 2025-2030, owing to the burgeoning demand for clean energy solutions. Furthermore, alkaline electrolysis process stands as a well-established and mature technology, facilitating the conversion of water (H2O) into hydrogen (H2) and oxygen (O2) gases through electrochemical reactions. Moreover, the cost-effectiveness of utilizing potassium hydroxide (KOH) electrolytes in alkaline electrolyzers is a compelling factor. In contrast to proton exchange membrane (PEM) electrolyzers that necessitate costly materials like platinum, alkaline electrolyzers operate with affordable materials, contributing to reduced operational expenses. Thus, its application is gaining significance in power generation, transportation, and industrial processes for providing clean & green energy solutions, which is anticipated to enhance the growth of the segment during 2025-2030.

Automotive & Transportation is Anticipated to Account for Prominent Share of the Market

Based on end user, the market is bifurcated into, Power Generation & Energy Storage, Automotive & Transportation, Refineries & Petrochemicals and Others (Food & Beverage, Steel, Cement Industries, etc.). Of them all, Automotive & Transportation would hold a major share of the market in the forecast period. The market growth imputes to the rising automotive industry initiatives towards achieving carbon neutrality by 2030, various manufacturers have adopted diverse strategies to mitigate carbon emissions in vehicles, encompassing cars, buses, and more. Furthermore, increasing government initiative to decarbonize the automotive sector, as part of the National Green Hydrogen Mission, to foster the growth of the hydrogen economy in India, providing a significant boost to the prospects of this energy source within the automotive industry, which is expected to create favorable conditions for market expansion in the forecast years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading green hydrogen companies in the indian market, including Cummins India, HydrogenPro AS, MHI, Stiesdal A/S, Siemens, Thyssenkrupp, Acme Group, Azure Power, Adani Group, Reliance Industries Ltd., NTPC Limited, GAIL Limited, L&T, Air Products, Bharat Petroleum Corporation Limited (BPCL), JSW Energy Neo Ltd, and others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?