India Hydrogen Market Size Set to Reach New Heights in the Coming Years | Bhuruka Gases Limited, Air Liquide India, Aditya Birla Chemicals (India) Ltd

The India hydrogen market was valued at $50 million in 2017, and is projected to reach $81 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. Hydrogen is a colorless, odorless, tasteless, non-toxic, and a highly combustible diatomic gas used in various industries across numerous domains. Hydrogen has been used as a fuel for many decades, as it exhibits excellent properties that include carbon-free fuel, non-toxicity, safe production and storage, secure transport, easy production from many different sources, and an exceptionally clean source of energy.

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The demand for hydrogen in India is on the rise, as India has always been an energy-deficient country. Furthermore, Indian economy and population have been continuously growing, which proves challenging for the government to provide energy to such an economy. The sole dependency on petroleum and natural gas for energy is clearly not the solution for an emerging economy, such as India. The growth in practicability of hydrogen fuel cells has significant implications, particularly for the developing countries, such as India. These fuel cells use both oxygen and hydrogen to provide clean energy, which creates an opportunity to provide clean energy to millions of Indians, thereby reducing the energy supply-demand gap.

There is a growth in demand for hydrogen in the end-user industries, such as petroleum refining processes, metal processing, and others. Furthermore, the use of hydrogen in power generation and stringent environmental regulations towards a cleaner form of energy drive the Indian hydrogen market growth. However, the high transportation cost and stagnant prices act as a restraint to the Indian hydrogen market. The use of liquid organic hydrogen carrier (LOHC) technologies for storage and transportation of hydrogen have created better opportunities for the growth of the market.

The report segments the India hydrogen market based on delivery mode, technology, end user, and region. On the basis of the delivery mode, the market is divided into captive and merchant. By technology, the market is categorized into steam methane reforming, partial oxidation of oil, coal gasification, methanol reforming, ammonia cracking, and electrolysis of water. As per end user, the market is classified into chemical, petroleum refining, metal processing, glass industry, edible fats and oils, energy, and others. Region-wise, it is analyzed across North India, South India, Western India, and East India.

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The key players operating in the market include Praxair India Private Limited, Linde India Limited, INOX Air Products, Bhuruka Gases Limited, Air Liquide India, Aditya Birla Chemicals (India) Ltd., Gujarat Alkalies And Chemicals Limited, DCW Limited (DCW), TATA Chemicals Limited, and GHCL Ltd.

KEY BENEFITS FOR STAKEHOLDERS

Porter's five forces analysis helps to analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and the future scenario of the India hydrogen market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
The major regions are mapped according to their individual revenue contribution to the India market.
An in-depth analysis of the current R&D within the market is provided along with the key dynamic factors.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of the key players along with their key strategic developments are enlisted in the report.
COVID-19 Impact

In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.

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The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.

KEY MARKET SEGMENTS

By Delivery Mode

Captive
Merchant

By Technology

Steam Methane Reforming
Partial Oxidation of Oil
Coal Gasification
Methanol Reforming
Ammonia Cracking
Electrolysis of Water

By End User

Chemical
Petroleum Refining
Metal Processing
Glass Industry
Edible Fats and Oils
Energy
Others

By Region

North India
South India
Western India
East India

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This release was published on openPR.