India Hydrogen Market Strong Growth, Expected to See 6.3 percentage CAGR Expansion by 2030

The 𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 reached a value of US$ 72.14 Mn. in 2023. India Hydrogen Market size is estimated to grow at a CAGR of 6.3%.

𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

Hydrogen (H₂) is an essential element used across multiple industries due to its high energy density, cost-effectiveness, and eco-friendly properties. India's hydrogen supply is primarily derived from fossil fuels and biomass, with natural gas accounting for 75% of global hydrogen production. The widespread adoption of hydrogen in petroleum refining, metal treatment, fertilizer production, and power generation highlights its growing economic importance. Moreover, the push for green hydrogen is expected to reduce carbon emissions, enhance energy security, and contribute to India's net-zero goals.

𝐖𝐡𝐚𝐭'𝐬 𝐧𝐞𝐱𝐭 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬? 𝐅𝐢𝐧𝐝 𝐨𝐮𝐭 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐲𝐨𝐮𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐭𝐨𝐝𝐚𝐲: https://www.maximizemarketresearch.com/request-sample/21091/

𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:

The rising global energy demand and increasing environmental concerns are major drivers fueling India's hydrogen market growth. The government's strict carbon emission regulations for the automobile sector have accelerated electric vehicle (EV) adoption, further boosting hydrogen demand. Additionally, hydrogen's role in decarbonizing industries like steel, chemicals, and transportation is gaining momentum. India's strategic focus on hydrogen-powered mobility solutions and the expansion of hydrogen cooling systems in power plants are also key factors supporting market expansion.

𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

A notable trend in India's hydrogen market is the transition from grey hydrogen to green hydrogen. Currently, India produces 6 million MT of grey hydrogen, accounting for 8.5% of global demand, but by 2050, three-fourths of hydrogen production is expected to be green. Companies like Reliance Industries Ltd (RIL) have pledged to achieve carbon neutrality by 2035, with significant investments in hydrogen and renewable energy solutions. Moreover, the merchant hydrogen segment, which reduces fuel transportation costs through electrolysis-based production, dominated the market with a 58% share in 2023. The transportation sector, fueled by rising demand for Fuel Cell Electric Vehicles (FCEVs), is projected to grow at a CAGR of 7.2% during the forecast period.

𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐕𝐢𝐞𝐭𝐧𝐚𝐦

Vietnam is strategically positioning itself in the hydrogen sector. The Vietnam ASEAN Hydrogen Club (VAHC) and the Japan Hydrogen Association (JH2A) have signed a Memorandum of Understanding to establish a strategic partnership. This collaboration aims to exchange information and foster cooperation in hydrogen development. Additionally, 𝐒𝐊 𝐆𝐫𝐨𝐮𝐩, a major South Korean conglomerate, is exploring green hydrogen projects in Vietnam, indicating the country's potential to become a significant player in the regional hydrogen market.

𝐓𝐡𝐞 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐜𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.maximizemarketresearch.com/inquiry-before-buying/21091/

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐓𝐡𝐚𝐢𝐥𝐚𝐧𝐝

Thailand is actively investing in hydrogen technologies to enhance its energy security and reduce carbon emissions. The country is focusing on integrating hydrogen into its energy mix, particularly in transportation and power generation sectors, to align with global sustainability trends.

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐓𝐫𝐞𝐧𝐝𝐬 𝐢𝐧 𝐉𝐚𝐩𝐚𝐧

Japan remains at the forefront of hydrogen innovation. The nation has been the first to commercialize fuel cells and is now supporting efforts to employ them in household and automobile applications. Its goal is to mass-produce green hydrogen. To meet global carbon emission limits, the country is expected to have 200,000 green hydrogen fuel cell vehicles and 320 hydrogen recharging stations by 2025.

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐂𝐨𝐧𝐬𝐨𝐥𝐢𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚

South Korea is making significant strides in the hydrogen economy. The government has implemented action plans to foster a future hydrogen economy, focusing on developing infrastructure and supporting technological advancements. Collaborations with countries like Japan are also underway to establish joint supply networks for carbon-neutral fuels such as hydrogen and ammonia.

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐔𝐩𝐝𝐚𝐭𝐢𝐨𝐧 𝐢𝐧 𝐒𝐢𝐧𝐠𝐚𝐩𝐨𝐫𝐞

Singapore is exploring hydrogen as a key component of its energy transition strategy. The city-state is investing in research and development to assess the feasibility of hydrogen adoption in various sectors, aiming to reduce its carbon footprint and enhance energy resilience.

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬

The United States is witnessing a surge in hydrogen-related activities. The Department of Energy (DOE) promotes the R&D of a wide range of methods for producing hydrogen by net-zero-carbon pathways. In support of the Hydrogen Energy Earthshot goal of reducing the cost of clean hydrogen by 80% to $1 per kg in a decade, DOE's Hydrogen and Fuel Cell Technologies Office is focusing on developing technologies that can produce hydrogen for $2/kg by 2025 and $1/kg by 2030 via net-zero-carbon pathways.

𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐄𝐮𝐫𝐨𝐩𝐞

Europe is leading in hydrogen adoption, with a market share of 32.8% in 2023. The region has been at the forefront of implementing progressive projects and regulations aimed at reducing greenhouse gas emissions. Significant investments are being made in hydrogen infrastructure and technology to facilitate the transition to a low-carbon economy.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐅𝐫𝐞𝐞 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: 𝐅𝐮𝐥𝐥 𝐓𝐎𝐂, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 & 𝐂𝐡𝐚𝐫𝐭𝐬 𝐈𝐧𝐜𝐥𝐮𝐝𝐞𝐝 @ https://www.maximizemarketresearch.com/request-sample/21091/

𝐑𝐞𝐜𝐞𝐧𝐭 𝐌𝐞𝐫𝐠𝐞𝐫𝐬 𝐚𝐧𝐝 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬

The hydrogen sector has seen notable mergers and acquisitions, reflecting its dynamic nature. In Q3 2024, there were 18 hydrogen-related deals worth a total of $1.2 billion. The $886 million minority acquisition of 𝐄𝐧𝐞𝐥 𝐆𝐫𝐞𝐞𝐧 𝐏𝐨𝐰𝐞𝐫 𝐄𝐬𝐩𝐚ñ𝐚 𝐒𝐨𝐥𝐚𝐫 1 by 𝐀𝐛𝐮 𝐃𝐡𝐚𝐛𝐢 𝐅𝐮𝐭𝐮𝐫𝐞 𝐄𝐧𝐞𝐫𝐠𝐲 was the industry's largest disclosed deal during this period.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭:

by Type

Merchant
Captive

by Technology

Steam Methane Reforming
Coal Gasification

by Application

Petroleum and Refinery
Ammonia and Methanol Production
Transportation
Power Generation
Others

𝐅𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐀𝐛𝐨𝐮𝐭 𝐓𝐡𝐢𝐬 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐏𝐥𝐞𝐚𝐬𝐞 𝐕𝐢𝐬𝐢𝐭: https://www.maximizemarketresearch.com/market-report/india-hydrogen-market/21091/

𝐖𝐡𝐨 𝐢𝐬 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐞𝐫𝐬 𝐨𝐟 𝐈𝐧𝐝𝐢𝐚 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐰𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞?

1. Reliance Industries Limited
2. Indian Oil Corporation Ltd.
3. GAIL (India) Limited
4. Ballard Power System
5. Air Liquide
6. Air Products
7. Thyssenkrupp
8. KBR/Johnson Matthey
9. Cummins
10. Fuel Cell Energy
11. Plug Power
12. Bloom Energy
13. Linde
14. INOX Air
15. DCW Limited
16. TATA Chemicals
17. Bhoruka Gas
18. Air Water
19. Grasim Industries
20. Adani Enterprises

𝐑𝐞𝐥𝐚𝐭𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

♦ Seed Coating Materials Market https://www.maximizemarketresearch.com/market-report/global-seed-coating-materials-market/53144/

♦ Plastic Additives Market https://www.maximizemarketresearch.com/market-report/global-plastic-additives-market/21769/

♦ Cross Laminated Timber Market https://www.maximizemarketresearch.com/market-report/global-cross-laminated-timber-market/65493/

♦ Drilling Waste Management Market https://www.maximizemarketresearch.com/market-report/global-drilling-waste-management-market/50403/

♦ Control Valve Market https://www.maximizemarketresearch.com/market-report/global-control-valve-market/17135/

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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𝐀𝐛𝐨𝐮𝐭 𝐌𝐚𝐱𝐢𝐦𝐢𝐳𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

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