Market Research Report

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

By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, Others), By Energy Source (Solar, Wind, Other Renewable Sources), By End User...s (Power Generation & Energy Storage, Automotive & Transportation, Refineries & Petrochemicals, Others (Food & Beverage, Steel, Cement Industries, etc.)), By Competitors (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 Read more

  • Energy
  • Oct 2023
  • 92
  • EN66013

Market Definition

Green hydrogen is a fuel produced by the electrolysis of water. The green hydrogen refers to the energy used in the electrolysis process comes from clean and sustainable sources, making it an environmentally friendly and zero-carbon method of hydrogen production. Green hydrogen is seen as a key component in efforts to reduce carbon emissions and combat climate change across India.

Market Insights & Analysis: India Green Hydrogen Market (2025-30):

The India Green Hydrogen Market is estimated to grow at a CAGR of around 20.76% during the forecast period, i.e., 2025-30. The market growth imputes to the rising government initiatives to stimulate green hydrogen supply and demand across the country. Growing concerns over the increasing carbon emissions has forced country to develop cleaner and more powerful sources of energy for not only carrying out essential routine tasks but also major industrial operations such as in concrete & steel industry, shipping, long-distance trucking, etc. Thus, owing to these factors, the production of green hydrogen as a renewable source of energy is expected to witnessed notable growth in the coming years.

Although, the Global Green Hydrogen Market has depicted a steady growth in terms of growing application, and research & development as compare to India. Despite all these developments, the India Green Hydrogen Market was in its embryonic stage during 2021-2022.

Report Coverage Details
Study Period Historical Data: 2020-23
Base Year: 2024
Forecast Period: 2025-30
CAGR (2025-2030) 20.76%
Key Companies Profiled 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, Others
Unit Denominations USD Million/Billion

 

Furthermore, India has introduced various policies and guidelines to foster the development of green hydrogen, including initiatives like the Green Hydrogen Policy, the Niti Ayog's efforts to harness green hydrogen, and the National Green Hydrogen Mission (NGHM). The NGHM sets ambitious goals, aiming for a green hydrogen production capacity of at least 5 million metric tons per year, attracting investments exceeding USD 96.68 Billion. To support these objectives, the government has taken significant measures, such as exempting inter-state transmission charges and granting GH2 plants open access to the grid. In the latest budget, the government has allocated nearly USD 2.39 Billion for various programs aimed at promoting green hydrogen, including initiatives for domestic electrolyzer manufacturing and green hydrogen production.

 


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

As the government has shown its interest in generating green hydrogen in upcoming years, the private players have already taken steps towards the green hydrogen production. According to the Ministry of New and Renewable Energy, the national hydrogen mission could potentially increase green hydrogen’s share in this total hydrogen demand to 46% by 2030, which is further anticipated to enhance the market share during 2025-2030.

India Green Hydrogen Market Driver:

Increasing Government Support for the Production of Green Hydrogen– Green Hydrogen plays a critical role in decreasing the dependence on energy imports, safeguarding the environment, and satisfying the growing energy needs across the country. In relation to this, Indian government are developing hydrogen strategies and taking necessary initiatives by providing their support to drive economies towards green hydrogen in refineries, fertilisers, and gas networks across the country.

India's commitment to raising global supply chains and advancing relevant technologies has gathered significant interest from scientists, investors, and government bodies, particularly in the widespread adoption of green hydrogen. For instance, in 2021, India announced the National Hydrogen Mission with the objective to make India a global green hydrogen production and export hub. In lieu of this, the ministry of New and Renewable Energy is working on the mission to develop ethical competencies and to make optimum use of green hydrogen in potential areas by lowering its costs. Thus, the consistent government policies and support towards the production of green hydrogen, the market growth is anticipated to increase in the forthcoming years.

India Green Hydrogen Market Opportunity:

Increasing Integration of Sustainable Energy in the Indian Automobile Sector – India's commitment to achieving net-zero emissions by 2070 aligns with international climate agreements such as the Paris Agreement is expected to enhance the green hydrogen market size during 2025-2030. In addition, automotive manufacturers inclination towards the adoption of eco-friendly fuel solutions to reduce carbon emissions is predicted to elevate the demand for green hydrogen as a clean fuel over the next few years. In recent years, India have already begun using hydrogen as a clean fuel in fuel cell electric vehicles and is preparing to adopt hydrogen as a fuel as it reduces global pollution & greenhouse gas emissions. For instance,

  • In 2022, the government of India announced the Green Hydrogen Mobility Project in Leh, and the Kawas Green Hydrogen Blending with Natural Gas project in Gujarat.

Therefore, the rising production of fuel-celled electric vehicles engines is anticipated to further supplementing the demand for green hydrogen, hence fueling the market share during the forecast period.

India Green Hydrogen Market Challenge:

High Cost of Green Hydrogen Production to Impede India Green Hydrogen Market Growth – The reason behind the low usage of green hydrogen is its high cost of production which includes cost across the value chain, lack infrastructure facilities for transport and storage as well as high energy losses. The production cost of green hydrogen is determined by the renewable energy cost, the efficiency as well as the cost of electrolysers and some other factors. The production cost for green hydrogen viz. electrolysis is comparatively high as compared to conventional hydrogen production systems. According to the IEA, the hydrogen production through electrolysis which costs around USD 10.3 per kg is 5 times higher than that of conventional technologies which cost around USD 1.5-2.3 per kg. Thus, the high production cost of green hydrogen would remain high without government subsidies and other supportive policies, which results in hindering the market growth during 2025-2030.

India Green Hydrogen Market Trend:

Upsurge in the Research & Development in Green Hydrogen – In order to fulfil the purpose of carbon-free economy, research and development in green hydrogen technology is essential to make it technically and financially viable. Green hydrogen acts as a competitive key towards fossil fuels and battery-based technology system.  For instance, National Green Hydrogen Mission, support innovation to increase the viability and feasibility of Green Hydrogen production, storage, transportation, and utilization and enhance the systems and procedures effectiveness, safety and reliability. The R&D investments are taking place to upgrade the efficiency of electrolysis and reduction in the energy loss during the transformation of green electricity to green hydrogen to make it commercially feasible in the upcoming years.

India Green Hydrogen Market (2025-30): Segmentation Analysis

The India Green Hydrogen Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment. It includes predictions for the period 2023–2028 at the national level. Based on the analysis, the market has been further classified as:

Based on Technology:

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

Out of them all, Alkaline Electrolyzer segment is expected to hold notable share in the India Green Hydrogen market in the forecast period, owing to its various benefits over the other water electrolysis technologies such as better rate of hydrogen production, compact design, and higher energy efficiency. Additionally, the alkaline electrolysis process has been also considered a mature technology for the decomposition of water (H2O) into hydrogen (H2) and oxygen (O2) gases through an electrochemical reaction.

Furthermore, the use of affordable potassium hydroxide (KOH) electrolytes in alkaline electrolyzer contributes to lower operating costs, especially when compared to some proton exchange membrane (PEM) electrolyzers that require expensive materials like platinum. Thus, it plays a key role in storing excess renewable energy (e.g., wind or solar) as hydrogen during periods of surplus electricity generation. Also, with the growing emphasis on decarbonization, alkaline electrolyzers is expected to contribute to the production of green hydrogen by using renewable electricity sources, aligning with sustainability goals in the forthcoming years, which further enhance the green hydrogen market share during 2025-2030. For instance,

  • In 2023, Under the National Hydrogen Energy Mission of the government, GAIL is setting up a green hydrogen unit that would produce 4.3 tonnes (close to 10 MW) of green hydrogen per day. This project would be the largest PEM electrolysers plant which would start making green hydrogen by the end of 2023.

Based on Energy Source:

  • Solar
  • Wind
  • Other Renewable Sources

Based on Energy Source, solar are predicted to go hand in hand for the production of green hydrogen during the forecast years. The burgeoning investments by the companies & government for the production of green hydrogen by solar energy sources are expected to assist the market growth in the coming years. As green hydrogen is used in the reduction of iron ore to direct reduced iron (DRI), the usage of green hydrogen in the manufacturing of green steel can reduce CO2 emissions by around 95%. Thus, the increasing company’s investment and government initiative aligns with the increasing key trend towards decarbonization and sustainable industrial practices led to increase the green hydrogen market share in the forthcoming years.

  • In 2022, ACME Group invested around USD 524.74 billion to set up a green hydrogen production plant powered by solar energy in Tamil Nadu, India.

Based on End User:

  • Power Generation & Energy Storage
  • Automotive & Transportation
  • Refineries & Petrochemicals
  • Others (Food & Beverage, Steel, Cement Industries, etc.)

Automotive and Transpiration is expected to hold notable share in the India Green Hydrogen Market in the forthcoming years. To achieve carbon neutrality by 2030, several car manufacturers have taken different approach to reduce the carbon emissions by using alternative and cleaner fuels to power automobiles, including cars, buses, etc., is anticipated to escalate the market share in the forecast period.

Moreover, the burgeoning research & development in Fuel Cell Electric Vehicles (FCEVs) and hydrogen-powered cars would create a positive impact on the technological advancement in green hydrogen as it is generated completely from renewable source. Further, India are paving their way towards large scale Electric Vehicle production, therefore, the country holds huge potential for integrating green hydrogen as a fuel alternative in the coming years, which is further anticipated to increase the green hydrogen market share across the country.

India Green Hydrogen Industry Recent Development:

  • 2023: Adani New Industries invested USD 50 billion in Green Hydrogen in collaboration with TotalEnergies to create the world’s largest green hydrogen ecosystem.
  • 2022: Reliance Industries invested USD 10 billion to generate 100 GW of solar electricity from renewable sources to produce green hydrogen by 2025.

Gain a Competitive Edge with Our India Green Hydrogen Market Report

  1. India Green Hydrogen Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of the market dynamics & to make informed decisions.
  2. This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. India Green Hydrogen Market Report aids in assessing & mitigating risks associated with entering or operating level in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The India Green Hydrogen Market is expected to grow at a CAGR of around 20.76% during 2025-2030.

   A. Increasing government support for the production of green hydrogen is expected to drive the India Green Hydrogen Market during 2025-2030.

   A. 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 are the top players in the India Green Hydrogen Market.

   A. Alkaline Electrolyzer is the leading technology in the India Green Hydrogen Market.

   A. Upsurge in the Research & Development in Green Hydrogen is the key trends shaping the growth of the India Green Hydrogen Market.

   A. Expanding Sustainable Energy Integration in the Indian Automobile Sector is the one of the growth opportunities driving the India Green Hydrogen Market through 2030.

   A. High cost of green hydrogen production is one of the possible restraints affecting the growth of the India Green Hydrogen Market.

India Green Hydrogen Market Research Report (2025-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. India Hydrogen Industry Outlook, 2023
    1. Production vs Consumption (Million Tons)
    2. Key End Users & their Consumption Pattern
    3. Major Players involved in the Production of Hydrogen
  5. India Green Hydrogen Modus Operandi Analysis
    1. Renewable Power Generation
    2. Technology Integration
    3. Green Hydrogen Production Process
    4. Transportation Path to End Users
  6. Green Hydrogen Electrolyzer Technology Comparative Analysis
    1. By Technology Type
    2. By OEM providers
    3. By Efficiency
    4. By Output Quality
    5. Others
  7. India Green Hydrogen Market Standards, Regulations, and Policies
  8. India Green Hydrogen Market Trends & Insights
  9. India Green Hydrogen Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  10. India Green Hydrogen Market Government Support & Opportunities
  11. Global Green Hydrogen Development vs India Green Hydrogen Development- A Critical Comparison
  12. India Green Hydrogen Market Outlook, 2025-2030F
    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– Market Size & Forecast 2025-2030F (Thousand Tons)
        2. Alkaline Electrolyzer– Market Size & Forecast 2025-2030F (Thousand Tons)
        3. Solid Oxide Electrolyzer– Market Size & Forecast 2025-2030F (Thousand Tons)
        4. Others– Market Size & Forecast 2025-2030F (Thousand Tons)
      2. By Energy Source
        1. Solar– Market Size & Forecast 2025-2030F (Thousand Tons)
        2. Wind– Market Size & Forecast 2025-2030F (Thousand Tons)
        3. Other Renewable Sources– Market Size & Forecast 2025-2030F (Thousand Tons)
      3. By End Users
        1. Power Generation & Energy Storage– Market Size & Forecast 2025-2030F (Thousand Tons)
        2. Automotive & Transportation– Market Size & Forecast 2025-2030F (Thousand Tons)
        3. Refineries & Petrochemicals– Market Size & Forecast 2025-2030F (Thousand Tons)
        4. Others (Food & Beverage, Steel, Cement Industries, etc.) – Market Size & Forecast 2025-2030F (Thousand Tons)
      4. By Competitors
        1. Market Revenues
        2. Competition Characteristics
  13. India Green Hydrogen Market Key Strategic Imperatives for Success and Growth
  14. India Green Hydrogen Key Stakeholders and Competition Alignment
    1. Company Profiles
      1. Electrolyzer Technology Providers
        1. Cummins India
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        2. HydrogenPro AS
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        3. MHI
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        4. Stiesdal A/S
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        5. Siemens
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        6. Thyssenkrupp
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        7. Other Potential Players
      2. Renewable Power Generation Solution Providers
        1. Acme Group
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        2. Azure Power
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        3. Other Potential Players
      3. Green Hydrogen Manufacturing Company
        1. Adani Group
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        2. Reliance Industries Ltd.
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        3. NTPC Limited
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        4. GAIL Limited
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        5. L&T
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        6. Air Products
          1. Business Overview
          2. Product Portfolio Strategic Alliances or Partnerships
          3. Recent Developments
          4. Financial Details
          5. Others
        7. Other Potential Players
          1. Bharat Petroleum Corporation Limited (BPCL)
          2. JSW Energy Neo Ltd
          3. Others
  15. Disclaimer


India Green Hydrogen Market Segmentation