According to TechSci Research report, “India Hydrogen Market- By Region, Competition, Forecast and Opportunities, 2020-2030F”, the India Hydrogen Market achieved a total market volume of 7.12 Million Tonnes in 2024 and is anticipated to grow with a CAGR of 7.35% through 2030. Hydrogen plays a crucial role as a feedstock in ammonia production, which is essential for nitrogen-based fertilizers. The Haber-Bosch process, which synthesizes ammonia, relies extensively on hydrogen. As agricultural productivity needs to improve to meet rising food demands, the requirement for fertilizers and consequently hydrogen is increasing. The Indian government’s initiatives to boost agricultural output and support farmers include policies that promote fertilizer production, further driving hydrogen demand. In April 2024, Indian Farmers Fertiliser Cooperative Limited (IFFCO) and ACME Cleantech Solutions Private Limited (ACME) signed a Memorandum of Understanding (MoU) under which ACME will provide IFFCO with around 200,000 metric tons of ammonia produced using renewable energy. This partnership supports the National Green Hydrogen Mission.
Environmental regulations are compelling the fertilizers sector to adopt cleaner technologies, including those that utilize hydrogen to lower carbon emissions, thus driving demand for green hydrogen. Technological advancements in hydrogen production and utilization are making it more practical and cost-effective for the fertilizers industry to integrate hydrogen. These innovations are attracting investment in hydrogen production and infrastructure, supporting research, development, and deployment of hydrogen technologies specific to the fertilizers sector.
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The India Hydrogen Market is segmented into technology, mode, application, regional distribution, and company.
Based on the Technology, the Membrane Cell Technology emerged as the fastest growing segment in the Indian market for Hydrogen during the forecast period. There is a growing focus on producing green hydrogen, which is derived from renewable energy sources. Membrane Cell Technology, especially Proton Exchange Membrane (PEM) electrolysis, plays a crucial role in green hydrogen production, supporting India’s objectives for reducing carbon emissions. In July 2024, Cochin Shipyard Limited will debut India's first fully indigenous hydrogen fuel cell catamaran vessel in Varanasi, highlighting the potential of hydrogen fuel technology in the maritime sector. Advances in PEM electrolysis is improving efficiency and lowering costs, making it a more feasible option for hydrogen production compared to traditional methods. Significant investments are being made to develop and scale up electrolysis technologies. Both major companies and startups are expanding their capabilities in membrane cell technology to meet the rising demand for sustainable hydrogen solutions. For example, in January 2024, THDC India Ltd inaugurated the country's largest green hydrogen pilot project at its office complex in Rishikesh, Uttarakhand. This project includes two storage tanks for green hydrogen, which will be used at night to power a 70 KW PEM fuel cell for lighting the office complex. THDC’s initiative, India's largest electrolyzer-end fuel cell-based pilot, features a PEM hydrogen fuel cell-based microgrid system and will demonstrate key technologies in green hydrogen production and storage. Membrane Cell Technology is particularly well-suited for integration with renewable energy sources, aligning with India’s shift towards greener energy solutions and accelerating its adoption. The Indian government is supporting this transition through various initiatives and policies, including the National Hydrogen Energy Mission, which is driving investments in electrolysis technologies such as membrane cells.
Based on the region, the North India emerged as the fastest growing region in the Indian Hydrogen market during the forecast period. The Indian government has launched several initiatives to advance hydrogen production and utilization. Northern states, particularly Uttar Pradesh and Haryana, have actively utilized these policies to develop hydrogen infrastructure and projects. The Uttar Pradesh government has allocated an INR 5,000 crore incentive and financial support package to stimulate green hydrogen production for industrial, petrochemical, and transportation applications. Northern India is experiencing significant industrial expansion, with a growing number of manufacturing and industrial facilities that require hydrogen, including those in chemicals, fertilizers, and metal processing. The region has seen substantial improvements in infrastructure for hydrogen production, storage, and distribution, which are bolstering market growth. Additionally, investments in renewable energy sources are crucial for green hydrogen production, and Northern India’s focus on expanding its renewable energy capacity is driving the growth of hydrogen technology. In April 2024, Indian Oil Corporation (IOC) issued a tender for a 10-KTA Green Hydrogen Generation Unit (GHGU) at its Panipat Refinery Petrochemical Complex, to be developed on a build-own-operate (BOO) basis. Northern India is also seeing the launch of several pilot projects and innovative ventures in hydrogen technology, further contributing to the region's rapid growth in the hydrogen market.
Major companies operating in India Hydrogen Market are:
- Reliance Industries Limited
- Gujarat Alkalies and Chemicals Limited
- Indian Oil Corporation Limited
- INOX-Air Products Inc.
- DCW Limited
- Larsen & Toubro Limited
- Grasim Industries Limited.
- Bhuruka Gases Limited
- Air Liquide India
- Tata Chemicals Limited
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“India's hydrogen market is experiencing rapid growth, particularly with the push to incorporate hydrogen fuel cells into the automotive industry. Government incentives and investments in green hydrogen technology are accelerating the development of hydrogen-powered vehicles. This transition is fueled by the demand for cleaner transportation options and the expanding infrastructure for hydrogen refueling. As automotive manufacturers invest in hydrogen fuel cell technology, India is set to emerge as a significant player in the global hydrogen mobility sector, driving progress in environmental sustainability and technological advancement,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“India Hydrogen Market By Technology (Steam Methane Reforming, Membrane Cell Technology, Methanol Reforming, Coal Gasification and others), By Mode (Captive, Merchant), By Application (Petroleum Refinery, Fertilizers, Chemical & Petrochemical, Metal Processing, Automotive, Energy and Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated the future growth potential of India Hydrogen Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Hydrogen Market.
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