India Green Hydrogen

India Green Hydrogen Market Research Report: Forecast (2025-2030)

By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer), By Energy Source (Solar, Wind, Other Renewable Sources), By End Users (Power Generation & Energy Read more

  • Energy
  • Aug 2022
  • 92
  • EN45085

Market Overview

Hydrogen is a prominent source of energy and shares a long history, finding applications in different aspects, right from powering combustion engines years back to being an important part of the modern-day refining industry. It is a light, easy to store, and energy-dense element that does not directly generate emissions or affects greenhouse gases, but for it to become green & clean, hydrogen needs to find utilization in areas where its previous application has been entirely absent, like building, transportation, and power generation among others.

Green Hydrogen is nothing but hydrogen generated by splitting and separating oxygen from water using renewable electricity to expand the application. As the government of different countries, including India, are keenly focusing on exploring the potential of its use, green hydrogen is enjoying an unparalleled political & business momentum to scale technologies and reduce the cost of hydrogen, thereby expanding its utilization.

Market Insights

The India Green Hydrogen Market is projected to grow at a CAGR of almost 20% during the forecast period, i.e., 2025-30. The market will be driven by the rapidly escalating concerns of the government on the exponentially rising carbon emission and their focus on reducing its effects on the environment, thereby bringing sustainability. It, in turn, is augmenting the need to develop & utilize clean resources for various applications across industries and demonstrating greater inclination toward clean elements like green hydrogen.

Besides, with the growing need to bring energy efficiency & minimize dependency on fossil fuels, the government of India is supporting the green hydrogen industry substantially, viewing it as the solution to mitigate emissions while producing power. Moreover, conventional hydrogen has a prevalent role across different sectors in India, owing to which, its demand is quite high. Consequently, carbon emissions have been widespread across several cities in India.

Report Coverage Details
CAGR (2025-2030) 20%
Key Companies Profiled Air Products, Adani Green Energy Ltd, Reliance Industries Ltd., Other Potential Players (Bharat Petroleum Corporation Limited (BPCL), JSW Energy Neo Ltd, Others)
Unit Denominations USD Million/Billion

 

Hence, more than any other country, India needs green hydrogen to minimize air pollution, reduce the financial burden from energy imports, and decarbonize the environment rapidly. Such aspects are generating growth opportunities for the stakeholders to invest substantially in the industry and expand their research, development, and production initiatives, backed by massive government support through favorable policies & funding, leading the overall market toward a substantial rise in the coming years. For Instance:

  • On 15 August 2021, Prime Minister Narendra Modi formally announced the inauguration of the "National Hydrogen Mission," aiming to generate carbon-free fuel from renewables and make the country a global hub for the production & export of green hydrogen.

Market Segmentation

By End Users

  1. Power Generation & Energy Storage
  2. Automotive & Transportation
  3. Mining
  4. Refineries & Petrochemicals
  5. Others (Food & Beverage, Steel, Cement Industries, etc.)

Here, industries like Petrochemicals are anticipated to make substantial contributions to the expansion of the India Green Hydrogen Market and generate lucrative opportunities for the leading companies during the forecast period. The growth attributes principally to the growing refining activities across the petroleum industry, demonstrating high utilization of hydrogen, thereby generating opportunities for cleaner alternatives like green hydrogen for desulphurization of products.

Besides, the presence of stringent government regulation to limit sulfur from petroleum products augment the demand for hydrogen, green hydrogen might project profitability in the industry and drive the market through 2030.

Moreover, as the ill effects of hydrogen are elevating substantially, the demand for green hydrogen in petrochemical applications is widening too. It is where the active participation of India to slash the production cost of green hydrogen and encourage industries like petrochemicals to access cheaper & cleaner energy would help bring the green hydrogen transition and expand the overall market in the future. For Instance:

  • Reliance Industries & Adani Group have pledged to produce green hydrogen at the cheapest cost in the world at $1 per kilogram, down from the existing cost of $5-$6.

Based on Technology:

  • Proton Exchange Membrane Electrolyzer
  • Alkaline Electrolyzer
  • Solid Oxide Electrolyzer

Here, Alkaline Electrolyzer is anticipated to dominate the India Green Hydrogen Market with the largest share during the forecast period. It owes principally to the capabilities of this technology to offer longer operating hours than other technologies. It is backed by the use of alkaline liquid solutions containing potassium or sodium hydroxide as its electrolyte. Moreover, the problem with availability and mining of rare earth metals needed for the manufacturing for PEM electrolyzer automatically pushes the demand for alkaline electroyzer also adds up to its high demand, contributing to the overall market growth through 2030. 

Besides, with the massive government support for the production of green hydrogen, several leading players are actively participating in the market and demonstrating mergers & acquisitions, partnerships, agreements, etc., for the development of advanced technology and testing the feasible capacity of the new energy has been contributing to the industry expansion. For Instance:

  • In 2022, Indian Oil Corporation, dominating petroleum products in the country, teamed up with two private companies, L&T (Larsen & Toubro Ltd) & ReNew Power. This partnership is to launch a joint venture for the development of green hydrogen and later expand the manufacturing & sales of electrolyzers used in the production of green hydrogen.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Definition
  3. Executive Summary
  4. India Hydrogen Industry Outlook
  5. India Green Hydrogen Market Porters Analysis
  6. India Green Hydrogen Market Standards, Regulations, and Policies
  7. India Green Hydrogen Market Consortiums & Associations
  8. India Green Hydrogen Market Trends & Insights
  9. India Green Hydrogen Market Dynamics
    1. Drivers
    2. Challenges
  10. India Green Hydrogen Market Government Support & Opportunities
  11. India Green Hydrogen Market Outlook, 2025-30F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Volume (Thousand Tons)
    2. Market Share & Analysis
      1. By Technology
        1. Proton Exchange Membrane Electrolyzer
        2. Alkaline Electrolyzer
        3. Solid Oxide Electrolyzer
      2. By Energy Source
        1. Solar
        2. Wind
        3. Other Renewable Sources
      3. By End Users
        1. Power Generation & Energy Storage
        2. Automotive & Transportation
        3. Mining
        4. Refineries & Petrochemicals
        5. Others (Food & Beverage, Steel, Cement Industries, etc.)
      4. By Competitors
        1. Market Revenues
        2. Competition Characteristics
  12. India Green Hydrogen Market Key Strategic Imperatives for Success and Growth
  13. Competition Outlook (Whichever Applicable)
    1. Competition Matrix
      1. Brand Specialization
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles
      1. Air Products
      2. Adani Green Energy Ltd
      3. Reliance Industries Ltd.
      4. Other Potential Players
        1. Bharat Petroleum Corporation Limited (BPCL)
        2. JSW Energy Neo Ltd
        3. Others
  14. Disclaimer
India Green Hydrogen Market Segmentation
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