India Green Hydrogen Market Assessment, By Technology [Alkaline Electrolyzer, Polymer Electrolyte Membrane (PEM) Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer], By Production Source [Solar, Wind], By Transportation Channel [Pipeline, Waterways, Roadways], By End-User Type [Domestic; Industrial-Energy and Power, Steel, Refineries, Chemicals, Transportation, Manufacturing, Others], By Region, Opportunities, and Forecast, FY2016-FY2030F

According to an Indian government source, the Hydrogen demand in India is expected to increase from six million tonnes in 2020 to 30 million tonnes by 2050, growing at a CAGR of 5.51% in volume terms. The share for Green Hydrogen in India will be in double digits in volume terms of the total hydrogen production in FY2030. The India Green Hydrogen Market will be valued at USD 8 billion in FY2030 and is projected to increase to USD 340 billion by 2050, growing at a CAGR of 20.61%.

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Hydrogen is an important industrial fuel with a wide range of uses, including the manufacture of ammonia (majorly used for fertiliser production), steel, refineries, and power. The term ‘Green Hydrogen’ refers to hydrogen gas produced using renewable energy sources such as wind or solar power. The process does not emit any greenhouse gases and has the potential to replace fossil fuels. According to an Indian government source, the Hydrogen demand in India is expected to increase from six million tonnes in 2020 to 30 million tonnes by 2050, growing at a CAGR of 5.51% in volume terms. The share for Green Hydrogen in India will be in double digits in volume terms of the total hydrogen production in FY2030. The India Green Hydrogen Market will be valued at USD 8 billion in FY2030 and is projected to increase to USD 340 billion by 2050, growing at a CAGR of 20.61%.

 

Rise in awareness about global warming and carbon emissions have propelled the growth of India green hydrogen market. After China and the United States, India is the third largest carbon dioxide producer, due to which the need for the adoption of green hydrogen has increased over time. Additionally, the market provides huge potential for development and investment due to the increase in chemical demand, technological advancements, and government support. However, factors such as high cost of production, conversion, storage and transportation of green hydrogen restrains the market expansion.

 

Alkaline Electrolyser Dominates

According to the Ministry of New and Renewable Energy, alkaline electrolyser is produced by several manufacturers in India and dominates in term of market share by technology in 2022. More advanced electrolyser technologies including solid oxide and anion exchange membranes are also on the verge of commercialization. In 2021, Bhabha Atomic Research Center (BARC) and Bharat Petroleum Corporation Limited (BPCL) had worked together to scale up the alkaline electrolyser technology to boost up the production of green hydrogen.

Government Initiatives Provides Lucrative Business Opportunity

The growth of the green hydrogen market is influenced by the initiatives taken by the Government of India with an aim to adopt green hydrogen, particularly to decarbonize industries including ammonia, refineries, iron and steel, methanol and heavy-duty transportation. For instance, in 2021, the Indian government approved an initial investment of Rs. 197.4 billion for the National Green Hydrogen Mission. By 2030, India will create a capacity for producing green hydrogen of five million tonnes annually, along with an additional 125 GW of renewable energy capacity. Over the years, India has strengthened its expertise in producing renewable energy at lower costs. As a result, India is one of the world's most competitive producer of green hydrogen.

Impact of COVID-19 on Green Hydrogen Market

Due to the sudden outbreak of the COVID-19 pandemic, the renewable energy industry witnessed production losses including the green hydrogen market too. Halt or disruption in transportation, shortage of raw materials, slowdown of on-site work and decreased demand for chemicals have negatively impacted the India green hydrogen market. The lockdown and strict social distancing norms in 2020 led to the disruption in the chemical and renewable energy industry impacting manufacturing and supply chain operations. However, post COVID-19 recovery in 2021, the Indian government had chosen several initiatives to enhance global partnerships, supplier diversity, innovative inventions to minimize the need for certain resources that strengthened the declining conditions for the India green hydrogen market. With the removal of mobility restrictions in India, the market is witnessing growth again.

Impact of Russia Ukraine War on Green Hydrogen Market

The price of the global crude oil had risen to as high as USD 140 per barrel, the highest level seen after fourteen years because of the continued tensions between Russia and Ukraine. India's susceptibility to geopolitical sanctions is shown by the increase in the cost of oil, natural gas and fertilisers. The Union Transport Minister of India reaffirmed that green hydrogen is a new alternative that would lessen India's vulnerability to such price fluctuations.

India Green Hydrogen Market: Report Scope

India Green Hydrogen Market Assessment, Opportunities and Forecast, 2016-2030F”, is a comprehensive report by Market Xcel, providing in-depth analysis and qualitative & quantitative assessment of the current state of green hydrogen market in India, industry dynamics and challenges. The report includes market size, segmental shares, growth trends, COVID-19 and Russia-Ukraine war impact, opportunities, and forecasts (2023-2030). Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute

Details

Base Year of the Analysis

FY2022

Historical Period

FY2016-FY2022

Forecast Period

FY2023-FY2030

Projected Growth Rate

CAGR of 20.61% between FY2030 and FY2050

Revenue Forecast in FY2030

USD 8 billion

Units

Revenue in USD Billion and Volume in Tonnes

Segments Covered

Technology

Production Source

Transportation Channel

End-User Type

Regions Covered

North, East, West and Central, South

Key Companies Profiled

Reliance Industries Limited (RIL), Oil & Natural Gas Corporation (ONGC), Adani New Industries Limited (ANIL), GAIL India Limited, National Thermal Power Corporation Limited (NTPC), Indian Oil Corporation Limited (IOCL), Larsen and Toubro Limited (L&T), Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited (HPCL), Greenko Energies Private Limited (Group Greenko).

Customization Scope

15% free report customization with purchase.

Pricing and Purchase Options

Avail the customized purchase options to fulfil your precise research needs.

Delivery Format

PDF and Excel through email (subject to the license purchased)

Download Free Sample Report

 

In this report, India Green Hydrogen Market has been segmented into the following categories: 

1.       India Green Hydrogen Market, By Technology

1.1   Alkaline Electrolyzer

1.2   Polymer Electrolyte Membrane (PEM) Electrolyzer Bird

1.3   Proton Exchange Membrane Electrolyzer Tortoise

1.4   Solid Oxide Electrolyzer

2.       India Green Hydrogen Market, By Production Source

2.1   Solar

2.2   Wind

3.       India Green Hydrogen Market, By Transportation Channel

3.1   Pipeline

3.2   Waterways

3.3   Roadways

4.       India Green Hydrogen Market, By End-User Type

4.1   Domestic

4.2   Industrial

4.2.1 Energy and Power

4.2.2 Steel

4.2.3 Refineries

4.2.4 Chemicals

4.2.5 Transportation

4.2.6 Manufacturing

4.2.7 Others

5.       India Green Hydrogen Market, By Region

5.1   North

5.2   East

5.3   West and Central

5.4   South

Key Players Landscape and Outlook

The market for green hydrogen is consolidated and there are limited number of players operating in this business. Reliance Industries Limited (RIL) is a leading manufacturer and holds the dominant share. The market consists of other major players such as Oil & Natural Gas Corporation (ONGC), Adani New Industries Limited (ANIL), GAIL India Limited etc. Companies are making significant investments in R&D projects to introduce new products and increase production capabilities. For instance, Reliance Industries Limited (RIL) has announced its goals to achieve net zero carbon emissions by the year 2035. In order to construct a 5000-acre green energy complex in Jamnagar, Gujarat, RIL aims to invest INR 600 billion. Similarly, Oil India Limited (OIL) has taken the first important step toward a Green Hydrogen Economy in India with the recent commissioning of India's first 99.999% pure Green Hydrogen pilot plant. The plant was set up at the Jorhat Pump Station in Assam in April 2022.

Key Players Operating in India Green Hydrogen Market

·         Reliance Industries Limited (RIL)

·         Oil & Natural Gas Corporation (ONGC)

·         Oil India Limited (OIL)

·         Adani New Industries Limited (ANIL)

·         GAIL India Limited

·         National Thermal Power Corporation Limited (NTPC)

·         Indian Oil Corporation Limited (IOCL)

·         Larsen and Toubro Limited (L&T)

·         Bharat Petroleum Corporation Limited

·         Hindustan Petroleum Corporation Limited (HPCL)

·         Greenko Energies Private Limited (Group Greenko)

Key Benefits of Buying This Report

Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future. 

If you can't find what you're searching for or have any custom requirements for India Paraffin Wax Market, you may approach our team at info@marketsandata.com

Table of Contents

1.      Research Methodology

2.      Product Overview

3.      Impact of COVID-19 on India Green Hydrogen Market

4.      Impact of Russia Ukraine War on India Green Hydrogen Market

5.      Executive Summary

6.      India Green Hydrogen Market Outlook, FY2016-FY2030F

6.1   Market Size & Forecast

6.1.1        By Value

6.1.2        By Volume

6.2   Market Share & Forecast

6.2.1        By Technology

6.2.1.1   Alkaline Electrolyzer

6.2.1.2   Polymer Electrolyte Membrane (PEM) Electrolyzer

6.2.1.3   Proton Exchange Membrane Electrolyzer

6.2.1.4   Solid Oxide Electrolyzer

6.2.2        By Production Source 

6.2.2.1   Solar

6.2.2.2   Wind

6.2.3        By Transportation Channel

6.2.3.1   Pipeline

6.2.3.2   Waterways

6.2.3.3   Roadways

6.2.4        By End-User Type

6.2.4.1   Domestic

6.2.4.2   Industrial

6.2.4.2.1         Energy and Power

6.2.4.2.2         Steel

6.2.4.2.3         Refineries

6.2.4.2.4         Chemicals

6.2.4.2.5         Transportation

6.2.4.2.6         Manufacturing

6.2.4.2.7         Others

6.2.5        By Region

6.2.5.1   North

6.2.5.2   East

6.2.5.3   West and Central

6.2.5.4   South

7.      Macro-Business Environmental Scope

7.1   Porter’s Five Forces Analysis

7.1.1        Bargaining Power of Supplier

7.1.2        Bargaining Power of Buyer

7.1.3        Threat of Substitutes

7.1.4        Threat from New Entrant

7.1.5        Competitive Rivalry

7.2   PESTEL Analysis

7.2.1        Political Schemes

7.2.2        Economic Factors

7.2.3        Social Implications

7.2.4        Technological Advancements

7.2.5        Environmental Impact

7.2.6        Legal Policies and Regulatory Bodies

7.3   Value Chain Analysis

7.4   Supply Demand Analysis

7.5   Import Export Analysis

8.      Pricing Analysis

9.      Market Dynamics

9.1   Trends & Developments

9.2   Growth Drivers

9.3   Growth Inhibitors

10.  Best Practice Case Studies by Market Players (Upto Three)

11.  Key Players Landscape

11.1         SWOT Analysis of Top Five Market Players

11.2         Competition Matrix of Top Five Market Leaders

11.3         Market Revenue Analysis of Top Five Market Leaders (in %, 2022)

11.4         Emerging Players and Substitutes (If Any)

11.5         Mergers & Acquisitions/Joint Ventures (If Applicable)

11.6         Patent Analysis (If Any)

12.  Key Players Outlook

12.1         Reliance Industries Limited (RIL)

12.1.1     Company Details

12.1.2     Key Management Personnel

12.1.3     Products & Services

12.1.4     Financials (As reported)

12.1.5     Key Market Focus & Geographical Presence

12.1.6     Recent Developments

12.2         Oil & Natural Gas Corporation (ONGC)

12.3         Adani New Industries Limited (ANIL)

12.4         GAIL India Limited

12.5         National Thermal Power Corporation Limited (NTPC)

12.6         Indian Oil Corporation Limited (IOCL)

12.7         Larsen and Toubro Limited (L&T)

12.8         Bharat Petroleum Corporation Limited

12.9         Hindustan Petroleum Corporation Limited (HPCL)

12.10      Greenko Energies Private Limited (Group Greenko)

12.11      Oil India Limited (OIL)

*Companies mentioned above DO NOT hold any order as per market share and can be changed as per information available during research work

13.  Strategic Recommendations
14.  About Us & Disclaimer

List of Figure

Figure 1. India Green Hydrogen Market, By Value, In USD Million, FY2016 - 2030F

Figure 2. India Green Hydrogen Market, By Volume, In Thousand Units, FY2016 - 2030F

Figure 3. India Green Hydrogen Market Share, By Technology, In USD Million, FY2016 - 2030F

Figure 4. India Green Hydrogen Market Share, By Technology, In Thousand Units, FY2016 - 2030F

Figure 5. India Green Hydrogen Market Share, By Production Source, In USD Million, FY2016 - 2030F

Figure 6. India Green Hydrogen Market Share, By Production Source, In Thousand Units, FY2016 - 2030F

Figure 7. India Green Hydrogen Market Share, By Transportation Channel, In USD Million, FY2016 - 2030F

Figure 8. India Green Hydrogen Market Share, By Transportation Channel, In Thousand Units, FY2016 - 2030F

Figure 9. India Green Hydrogen Market Share, By End-User Type, In USD Million, FY2016 - 2030F

Figure 10. India Green Hydrogen Market Share, By End-User Type, In Thousand Units, FY2016 - 2030F

Figure 11. India Green Hydrogen Market Share, By Region, In USD Million, FY2016 - 2030F

Figure 12. India Green Hydrogen Market Share, By Region, In Thousand Units, FY2016 - 2030F

Figure 13. Technology Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 14. Production Source Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 15. Transportation Channel Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 16. End-User Type Map-Market Size (USD Million) & Growth Rate (%), FY2022

Figure 17. Region Map-Market Size (USD Million) & Growth Rate (%), FY2022

List of Table_India Green Hydrogen Market

Table 1. Pricing Analysis of Products from Key Players

Table 2. Competition Matrix of Top 5 Market Leaders

Table 3. Mergers & Acquisitions/ Joint Ventures (If Applicable)

Table 4. About Us - Regions and Countries Where We Have Executed Client Projects

Frequently Asked Questions

What is the growth rate of India Green Hydrogen Market?

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