India Hydrogen Market Assessment, By Type [Green Hydrogen, Blue Hydrogen, Brown Hydrogen, Pink Hydrogen, Others], By Technology [Steam Methane Reforming, Partial Oxidation of Oil, Coal Gasification, Electrolysis Of Water, Methanol Reforming, Ammonia Cracking], By Delivery Mode [Pipeline and Tanks and Cylinders], By Application [Chemical, Energy, Petroleum Refining, Metal Processing, Glass Industry, Edible Fats and Oil, Others], By Region, Opportunities and Forecast, FY2017-2031F

The India Hydrogen Market is projected to reach 11 million tons by FY2031 from 6 million tons in FY2023, growing at a CAGR of 7.58% during the forecast period FY2024-FY2031.

Home>Industry Reports>India Hydrogen Market Assessment, Opportunities and Forecast, FY2017-2031F

Hydrogen plays a crucial role in national energy strategy, with increasing potential for usage in a wide range of applications across almost all sectors including transportation, industrial, commercial, residential and portable. The India Hydrogen Market is projected to reach 11 million tons by FY2031 from 6 million tons in FY2023, growing at a CAGR of 7.58% during the forecast period FY2024-FY2031.

The India hydrogen market is expected to be driven by rising awareness about greenhouse gas emissions, strengthening of government regulations for desulfurization and encouraging the production and consumption of hydrogen. Since hydrogen is a powerful energy transporter, its further expansion into energy and automotive is expected to benefit greatly.

Hydrogen is an essential industrial gas that is employed in many different applications. The market growth is also driven by the rising demand for fuel-cell electric cars (FECV) and rockets in the aerospace sector. Additionally, the use of hydrogen fuel cells in bicycles, buses, trains, boats, ships, commercial aircraft, marine vessels and specialty vehicles like forklifts, is promoting market growth in the automotive industry.

India anticipates fast growth of the hydrogen economy by assuring the cost-effective adoption of low-carbon hydrogen technologies throughout many industries, especially in the power sector. The central government approved “National Green Hydrogen Mission” on 4th Jan 2023, in which government aims to invest around US$ 2 Billion (Rs. 19,744 Crore) in developing additional capacity of 5 million tons of Hydrogen by the end of 2030. It will help in achieving 500 GW capacity from renewable energy till 2030 target which central government has set. On the other hand, it is anticipated that the market would be constrained by the high capital costs of hydrogen energy storage.

Green Hydrogen from Sea Water is the Future of Energy and Mobility

India's energy transformation is projected to be greatly aided by green hydrogen and this path is taken by the National Green Hydrogen Mission. In addition, it is anticipated that the mission will accelerate the deployment of the green hydrogen ecosystem and open new avenues for innovation and financial investment throughout its value chain, resulting in financial gains, job creation and economic expansion. Furthermore, to decarbonize heavy sectors including steel mills, fertilizer factories and oil refineries, green hydrogen is anticipated to play a significant role.

Pollution-free production favors its development

The India hydrogen market has grown due to the usage of hydrogen in power generation and stringent environmental restrictions in favor of greener forms of energy. Using hydrogen as an energy carrier is beneficial for the environment since water and heat are the sole by-products of hydrogen's reaction with oxygen. Therefore, usage of hydrogen fuel cells results in no emissions of greenhouse gases or other pollutants.

Green Hydrogen to substantiate demand from industrial to transportation and power

Green Hydrogen is a relatively new product which is being pushed in India due to its pollution-efficient production process which almost eradicate pollution while manufacturing making it green and safe. It is expected to generate significant demand from transportation especially passenger cars and buses since hydrogen is more cost effective compared to petrol & diesel and refilling time is way lesser than any other fuel.

Power generation is the next big thing through hydrogen and key companies including NTPC, Reliance Industries, Adani Group, Acme Solar, ReNew Power and JSW Energy already confirmed their plans to establish green hydrogen plants in coming years to support government plans of expansion in the sector.

Impact of COVID-19 on India Hydrogen Market

Factors including supply chain interruptions, delays in the execution of renewable energy projects and reduced benefits from government subsidies have reduced investments and developments of renewable technology during Covid period. However, the Indian government has initiated various programmes to improve international collaborations, supplier diversity and circular economy strategies which supported the deteriorating conditions for the hydrogen market in India post Covid. Moving forward, limitations on mobility have been lifted and the market is now expanding once again.

Impact of Russia-Ukraine War on India Hydrogen Market

Impact of the Russia-Ukraine conflict on the India hydrogen market is likely to be indirect, as India is not heavily dependent on imports for its hydrogen needs at present. Moreover, India is actively exploring domestic sources of hydrogen, such as green hydrogen produced from renewable sources, which could help mitigate any potential supply chain disruptions in the future.

Additionally, it could potentially affect India's access to key inputs for hydrogen production. Russia is one of the world's largest producers of natural gas, which is a key feedstock for hydrogen production, hence anticipation of higher natural gas prices which could potentially affect the cost of hydrogen production in India. However, as per the Niti Aayog, over 80% of additional capacity will be green hydrogen, which is not dependent on oil or gas, hence the war will have a minor effect on hydrogen prices.

India Hydrogen Market: Report Scope

“India Hydrogen Market Assessment, Opportunities and Forecast, FY2017-FY2031”, is a comprehensive report by Markets and Data, providing in-depth analysis and assessment of the current state of affairs of the 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 (FY2024-FY2031). 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

FY2023

Historical Period

FY2017-FY2022

Forecast Period

FY2024-FY2031

Projected Growth Rate

CAGR of 5.78% between FY2023 and FY2031

Revenue forecast in FY2031

11 million tons

Units

Revenue in USD Billion and Volume in Tons

Segments Covered

Type, Technology, Delivery Mode and Application

Regions Covered

North, West and Centre, East, South

Key Companies Profiled

Linde India Limited, INOX Air Products Private Limited, Bhuruka Gases Limited, Air Liquide (Air Liquide India), Ellenbarrie Industrial Gases Limited, Reliance Industries Limited, Indian Oil Corporation, Larsen & Toubro Limited, Tata Power Co Ltd., Oil and Natural Gas Corporation Limited

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)

 

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

1.       India Hydrogen Market, By Type

1.1.   Green Hydrogen

1.2.   Blue Hydrogen

1.3.   Brown Hydrogen

1.4.   Pink Hydrogen

1.5.   Others

2.       India Hydrogen Market, By Technology

2.1.   Steam Methane Reforming

2.2.   Partial Oxidation of Oil

2.3.   Coal Gasification

2.4.   Electrolysis Of Water

2.5.   Methanol Reforming

2.6.   Ammonia Cracking

3.       India Hydrogen Market, By Delivery Mode

3.1.   Pipeline

3.2.   Tanks and Cylinders

4.       India Hydrogen Market, By Application

4.1.   Chemical

4.2.   Energy

4.3.   Petroleum Refining

4.4.   Metal Processing

4.5.   Glass Industry

4.6.   Edible Fats and Oil

4.7.   Others  

5.       India Hydrogen Market, By Region

5.1.   North

5.2.   South

5.3.   East

5.4.   West & Central

Key Players Landscape and Outlook

The India hydrogen market is consolidated and there are just a few major players in the industry. Most of the manufacturers have structured production and demand structures and every company wants to expand as soon as new demand arises.


Market Xcel’s reports answer the following questions:

·         What is the current and future market size of the product/service in question globally or specific to different countries?

·         How are the markets divided into different product/service segments and the market size and growth of each segment?

·         What is the market potential of different product segments and their invest case?

·         How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

·         What is the business environment and regulatory landscape specific to the product/service?

Key Players Operating in India Hydrogen Market

·         Linde India Limited

·         INOX Air Products Private Limited

·         Bhuruka Gases Limited

·         Air Liquide (Air Liquide India)

·         Ellenbarrie Industrial Gases Limited

·         Reliance Industries Limited

·         Indian Oil Corporation

·         Larsen & Toubro Limited

·         Tata Power Co Ltd.

·         Oil and Natural Gas Corporation Limited

If you can't find what you're searching for or have any custom requirements for Global Hydrogen Fuel Cell Market, you may approach our team at info@marketsandata.com

Table of Contents

1.       Research Methodology

2.       Project Scope & Definitions

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

4.       Impact of Russia-Ukraine War on the India Hydrogen Market

5.       Executive Summary

6.       Voice of Customer

6.1.    Market Awareness and Product Information

6.2.    Brand Awareness and Loyalty

6.3.    Factors Considered in Purchase Decision

6.3.1.Brand Name

6.3.2.Quality

6.3.3.Quantity

6.3.4.Price

6.3.5.Product Specification

6.3.6.Ease of Use

6.3.7.Image Quality

6.3.8.Technical Support

6.4.    Frequency of Purchase

6.5.    Medium of Purchase

7.       India Hydrogen Market Outlook, FY2017-FY2031F

7.1.    Market Size & Forecast

7.1.1.By Value

7.1.2.By Volume

7.2.    Market Share & Forecast

7.2.1.By Type

7.2.1.1.              Green Hydrogen

7.2.1.2.              Blue Hydrogen

7.2.1.3.              Brown Hydrogen

7.2.1.4.              Pink Hydrogen

7.2.1.5.              Others

7.2.2.By Technology

7.2.2.1.              Steam Methane Reforming

7.2.2.2.              Partial Oxidation of Oil

7.2.2.3.              Coal Gasification

7.2.2.4.              Electrolysis Of Water

7.2.2.5.              Methanol Reforming

7.2.2.6.              Ammonia Cracking

7.2.3.By Delivery Mode

7.2.3.1.              Pipeline

7.2.3.2.              Tanks and Cylinders

7.2.4.By Application

7.2.4.1.             Chemical

7.2.4.2.             Energy

7.2.4.3.             Petroleum Refining

7.2.4.4.             Metal Processing

7.2.4.5.             Glass Industry

7.2.4.6.             Edible Fats and Oil

7.2.4.7.             Others  

7.2.5.By Region

7.2.5.1.              North

7.2.5.2.              South

7.2.5.3.              East

7.2.5.4.              West & Central

8.       Market Mapping, FY2023

8.1.    By Type

8.2.    By Technology

8.3.    By Application

8.4.    By Delivery Mode

8.5.    By Region

9.       Macro Environment and Industry Structure

9.1.    Supply Demand Analysis

9.2.    Import Export Analysis – Volume and Value

9.3.    Supply/Value Chain Analysis

9.4.    PESTEL Analysis

9.4.1.Political Factors

9.4.2.Economic System

9.4.3.Social Implications

9.4.4.Technological Advancements

9.4.5.Environmental Impacts

9.4.6.Legal Compliances and Regulatory Policies (Statutory Bodies Included)

9.5.    Porter’s Five Forces Analysis

9.5.1.Supplier Power

9.5.2.Buyer Power

9.5.3.Substitution Threat

9.5.4.Threat from New Entrant

9.5.5.Competitive Rivalry

10.   Market Dynamics

10.1.                     Growth Drivers

10.2.                     Growth Inhibitors (Challenges, Restraints)

11.   Key Players Landscape

11.1.                     Competition Matrix of Top Five Market Leaders

11.2.                     Market Revenue Analysis of Top Five Market Leaders (in %, FY2022)

11.3.                     Mergers and Acquisitions/Joint Ventures (If Applicable)

11.4.                     SWOT Analysis (For Five Market Players)

11.5.                     Patent Analysis (If Applicable)

12.   Pricing Analysis

13.   Case Studies

14.   Key Players Outlook

14.1.                     Linde India Limited

14.1.1.    Company Details

14.1.2.    Key Management Personnel

14.1.3.    Products & Services

14.1.4.    Key Market Focus & Geographical Presence

14.1.5.    Financials (As reported)

14.1.6.    Recent Developments

14.2.                     INOX Air Products Private limited

14.3.                     Bhuruka Gases Limited

14.4.                     Air Liquide (Air Liquide India)

14.5.                     Ellenbarrie Industrial Gases Limited

14.6.                     Reliance Industries Limited

14.7.                     Indian Oil Corporation

14.8.                     Larsen & Toubro Limited

14.9.                     Tata Power Co Ltd.

14.10.                  Oil and Natural Gas Corporation Limited

*Companies mentioned above DO NOT hold any order as per market share and can be changed during course of work

15.   Strategic Recommendations

16.   About Us & Disclaimer

List of Figure- India Hydrogen Market

Figure 1. India Hydrogen Market, By Value, In USD Million, FY2017-2031F

Figure 2. India Hydrogen Market, By Volume, In Unit Thousands, FY2017-2031F

Figure 3. India Hydrogen Market Share, By Type, In USD Million, FY2017-2031F

Figure 4. India Hydrogen Market Share, By Type, In Unit Thousands, FY2017-2031F

Figure 5. India Hydrogen Market Share, By Technology, In USD Million, FY2017-2031F

Figure 6. India Hydrogen Market Share, By Technology, In Unit Thousands, FY2017-2031F

Figure 7. India Hydrogen Market Share, By Application, In USD Million, FY2017-2031F

Figure 8. India Hydrogen Market Share, By Application, In Unit Thousands, FY2017-2031F

Figure 9. India Hydrogen Market Share, By Delivery Mode, In USD Million, FY2017-2031F

Figure 10. India Hydrogen Market Share, By Delivery Mode, In Unit Thousands, FY2017-2031F

Figure 11. India Hydrogen Market Share, By Region, In USD Million, FY2017-2031F

Figure 12. India Hydrogen Market Share, By Region, In Unit Thousands, FY2017-2031F

Figure 13. By Type Map-Market Size (USD Million) & Growth Rate (%), FY2023

Figure 14. By Technology Map-Market Size (USD Million) & Growth Rate (%), FY2023

Figure 15. By Application Map-Market Size (USD Million) & Growth Rate (%), FY2023

Figure 16. By Delivery Mode Map-Market Size (USD Million) & Growth Rate (%), FY2023

Figure 17. By Region Map-Market Size (USD Million) & Growth Rate (%), FY2023

List of Table- India 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

What is the growth rate of India Hydrogen Market?

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