PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1719019
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1719019
India Green Hydrogen Market, By Technology; By Energy Source; By End-User Industry; By Region, Trend Analysis, Competitive Landscape & Forecast, 2019-2031
India Green Hydrogen Market More Than Doubles to Touch USD 10 Billion by 2031
India Green Hydrogen Market is flourishing because of strategic government initiatives, ambitious decarbonization targets, and a rapidly expanding renewable energy infrastructure.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated India Green Hydrogen Market size at USD 4.54 billion in 2024. During the forecast period between 2025 and 2031, BlueWeave expects India Green Hydrogen Market size to boom at a robust CAGR of 11.80% reaching a value of USD 9.91 billion by 2031. The Green Hydrogen Market in India is propelled by India's strategic pivot towards a sustainable energy future, anchored by the National Green Hydrogen Mission (launched January 4, 2023). The initiative stems from India's critical need to reduce its significant carbon footprint as the world's third-largest emitter and aims to achieve a transformative 46% green hydrogen share in national energy demand by 2030. Supported by an initial USD 2.4 billion allocation, the Mission provides incentives for both electrolyzer manufacturing and hydrogen production, with the goal of reaching five million metric tons per annum by 2030. India's inherent strengths-including vast land resources, a skilled workforce, and a proactive policy environment-are fostering its development as a global center for green hydrogen innovation. The sector's wide-ranging applications, across key industries like refining, steel, transportation, and energy storage, highlight its potential to replace fossil fuels and facilitate comprehensive decarbonization. Despite the existing challenges of cost competitiveness and infrastructure development, India's commitment to energy independence by 2047 and net-zero emissions by 2070 is set to attract significant domestic and international investments, reinforcing its leadership in the rapidly expanding green hydrogen economy.
Opportunity- Emerging Hydrogen Valleys
Government of India has approved USD 50 crore in funding for each of the four Hydrogen Valleys in Pune, Jodhpur, Bhubaneshwar, and Kerala, aiming to establish regional hubs for green hydrogen production, storage, and utilization. These Hydrogen Valleys will cater to multiple industries, including mobility, steel, fine chemicals, and shipping, utilizing diverse production methods, such as bioethanol, biomass, and electrolyzers. Led by the Department of Science and Technology (DST) under the National Green Hydrogen Mission, the initiative focuses on research, innovation, and commercialization to strengthen India's green hydrogen ecosystem. The program follows a structured approach, starting with small-scale demonstrations (2023-2027), expanding to large-scale projects (2028-2033), and eventually achieving market-wide adoption (2034-2050). By integrating green hydrogen into various industrial applications and developing localized supply chains, Hydrogen Valleys are expected to accelerate clean energy deployment, attract investments, and contribute significantly to India's net-zero ambitions.
Impact of Escalating Geopolitical Tensions on India Green Hydrogen Market
Intensifying geopolitical tensions could disrupt the growth of India Green Hydrogen Market. Fluctuations in the cost of electrolyzers and essential raw materials, notably iridium and platinum, present a risk to project implementation timelines. Furthermore, the impact of international trade restrictions and volatile energy prices may elevate production expenses, thereby affecting the cost competitiveness of green hydrogen. Geopolitical instability constitutes an additional factor, potentially influencing foreign direct investment and regulatory stability, which could delay necessary infrastructure development. Nevertheless, India's strategic emphasis on domestic manufacturing capabilities and targeted policy incentives may mitigate certain identified risks. While geopolitical uncertainties persist, ongoing technological advancements and consistent policy support are anticipated to sustain the sector's growth trajectory, ensuring green hydrogen's contribution to India's energy transition objectives.
Alkaline Electrolysis Segment to Record Fastest CAGR
The alkaline electrolysis segment is expected to exhibit the most rapid growth in India Green Hydrogen Market over the forecast period. The segment's market dominance is primarily attributable to its inherent advantages over alternative electrolysis technologies including enhanced hydrogen production, scalability, a compact design profile, and superior energy efficiency. As a technologically mature process alkaline electrolysis facilitates the efficient electrochemical decomposition of water into hydrogen and oxygen. The utilization of cost-effective potassium hydroxide electrolytes provides a significant economic advantage compared to proton exchange membrane (PEM) electrolyzers which rely on expensive precious metal catalysts. Furthermore alkaline electrolyzers offer a viable solution for the storage of surplus renewable energy in the form of hydrogen thereby supporting India's national decarbonization objectives. With the increasing prevalence of sustainability initiatives substantial segment growth is projected from 2025 to 2030. Notably GAIL's ongoing development of a green hydrogen production unit with a capacity of 4.3 tons per day under the auspices of the National Hydrogen Energy Mission represents a critical advancement in the scaling of green hydrogen production.
Competitive Landscape
Major companies in India Green Hydrogen Market include JSW Energy Neo Ltd, Avaada Group, NTPC Limited, Acme Group, L&T, GAIL Limited, Hydrogen Pro AS, Siemens, Stiesdal A/S, Bharat Petroleum Corporation Limited (BPCL), Adani Group, Cummins India, MHI, Air Products, Thyssenkrupp, Reliance Industries Ltd, ReNew Energy Global, and Azure Power. The presence of a number of companies intensify the market competition, as they compete to gain a significant market share. These companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches to further enhance their market share.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and India Green Hydrogen Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Green Hydrogen Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Green Hydrogen Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Government Initiatives & Policies
- 3.2.1.2. Decarbonization Goals
- 3.2.1.3. Increasing Renewable Energy Capacity
- 3.2.2. Restraints
- 3.2.2.1. High Production Costs
- 3.2.2.2. Infrastructure Gaps
- 3.2.3. Opportunities
- 3.2.3.1. Emerging Hydrogen Valleys
- 3.2.3.2. Foreign Investments & Collaborations
- 3.2.4. Challenges
- 3.2.4.1. Water Resource Constraints
- 3.2.4.2. Competition from Other Clean Technologies
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Green Hydrogen Market: Marketing Strategies
5. India Green Hydrogen Market: Pricing Analysis
6. India Green Hydrogen Market Overview
- 6.1. Market Size & Forecast, 2019-2031
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Technology
- 6.2.1.1. Alkaline Electrolysis
- 6.2.1.2. Proton Exchange Membrane Electrolysis
- 6.2.1.3. Solid Oxide Electrolysis
- 6.2.1.4. Anion Exchange Membrane Electrolysis
- 6.2.2. By Energy Source
- 6.2.2.1. Solar
- 6.2.2.2. Wind
- 6.2.2.3. Other Renewable Sources
- 6.2.3. By End User Industry
- 6.2.3.1. Oil & Gas Refineries
- 6.2.3.2. Steel Industry
- 6.2.3.3. Fertilizers & Chemicals
- 6.2.3.4. Power Utilities
- 6.2.3.5. Transportation & Mobility
- 6.2.4. By Region
- 6.2.4.1. North India
- 6.2.4.2. South India
- 6.2.4.3. East India
- 6.2.4.4. West India
- 6.2.1. By Technology
7. North India Green Hydrogen Market
- 7.1. Market Size & Forecast, 2019-2031
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Technology
- 7.2.2. By Application
- 7.2.3. By End User Industry
8. South India Green Hydrogen Market
- 8.1. Market Size & Forecast, 2019-2031
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Technology
- 8.2.2. By Application
- 8.2.3. By End User Industry
9. East India Green Hydrogen Market
- 9.1. Market Size & Forecast, 2019-2031
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Technology
- 9.2.2. By Application
- 9.2.3. By End User Industry
10. West India Green Hydrogen Market
- 10.1. Market Size & Forecast, 2019-2031
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Technology
- 10.2.2. By Application
- 10.2.3. By End User Industry
11. Competitive Landscape
- 11.1. List of Key Players and Their Offerings
- 11.2. India Green Hydrogen Company Market Share Analysis, 2024
- 11.3. Competitive Benchmarking, By Operation Channel Parameters
- 11.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
12. Impact of Escalating Geopolitical Tensions on India Green Hydrogen Market
13. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 13.1. JSW Energy Neo Ltd
- 13.2. Avaada Group
- 13.3. NTPC Limited
- 13.4. Acme Group
- 13.5. L&T
- 13.6. GAIL Limited
- 13.7. Hydrogen Pro AS
- 13.8. Siemens
- 13.9. Stiesdal A/S
- 13.10. Bharat Petroleum Corporation Limited (BPCL)
- 13.11. Adani Group
- 13.12. Cummins India
- 13.13. MHI
- 13.14. Air Products
- 13.15. Thyssenkrupp
- 13.16. Reliance Industries Ltd
- 13.17. ReNew Energy Global
- 13.18. Azure Power
- 13.19. Other Prominent Players
14. Key Strategic Recommendations
15. Research Methodology
- 15.1. Qualitative Research
- 15.1.1. Primary & Secondary Research
- 15.2. Quantitative Research
- 15.3. Market Breakdown & Data Triangulation
- 15.3.1. Secondary Research
- 15.3.2. Primary Research
- 15.4. Breakdown of Primary Research Respondents, By Region
- 15.5. Assumption & Limitation
*Financial information of non-listed companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable
List of Figures
- Figure 1 India Green Hydrogen Market Segmentation
- Figure 2 India Green Hydrogen Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2024
- Figure 4 India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Figure 5 India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Figure 6 India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Figure 7 India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Figure 8 India Green Hydrogen Market Share, By Region, By Value (USD Billion) 2019-2031
- Figure 9 North India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Figure 10 North India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Figure 11 North India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Figure 12 North India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Figure 13 South India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Figure 14 South India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Figure 15 South India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Figure 16 South India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Figure 17 East India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Figure 18 East India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Figure 19 East India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Figure 20 East India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Figure 21 West India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Figure 22 West India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Figure 23 West India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Figure 24 West India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
List of Tables
- Table 1 India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Table 2 India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Table 3 India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Table 4 India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Table 5 India Green Hydrogen Market Share, By Region, By Value (USD Billion) 2019-2031
- Table 6 North India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Table 7 North India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Table 8 North India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Table 9 North India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Table 10 South India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Table 11 South India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Table 12 South India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Table 13 South India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Table 14 East India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Table 15 East India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Table 16 East India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Table 17 East India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Table 18 West India Green Hydrogen Market Size, By Value (USD Billion), 2019-2031
- Table 19 West India Green Hydrogen Market Share, By Technology, By Value (USD Billion) 2019-2031
- Table 20 West India Green Hydrogen Market Share, By Application, By Value (USD Billion) 2019-2031
- Table 21 West India Green Hydrogen Market Share, By End User Industry, By Value (USD Billion) 2019-2031
- Table 22 JSW Energy Neo Ltd Company Overview
- Table 23 JSW Energy Neo Ltd Financial Overview
- Table 24 Avaada Group Company Overview
- Table 25 Avaada Group Financial Overview
- Table 26 NTPC Limited Company Overview
- Table 27 NTPC Limited Financial Overview
- Table 28 Acme Group Company Overview
- Table 29 Acme Group Financial Overview
- Table 30 L&T Company Overview
- Table 31 L&T Financial Overview
- Table 32 GAIL Limited Company Overview
- Table 33 GAIL Limited Financial Overview
- Table 34 Hydrogen Pro AS Company Overview
- Table 35 Hydrogen Pro AS Financial Overview
- Table 36 Siemens Company Overview
- Table 37 Siemens Financial Overview
- Table 38 Stiesdal A/S Company Overview
- Table 39 Stiesdal A/S Financial Overview
- Table 40 Bharat Petroleum Corporation Limited (BPCL) Company Overview
- Table 41 Bharat Petroleum Corporation Limited (BPCL) Financial Overview
- Table 42 Adani Group Company Overview
- Table 43 Adani Group Financial Overview
- Table 44 Cummins India Company Overview
- Table 45 Cummins India Financial Overview
- Table 46 MHI Company Overview
- Table 47 MHI Financial Overview
- Table 48 Air Products Company Overview
- Table 49 Air Products Financial Overview
- Table 50 Thyssenkrupp Company Overview
- Table 51 Thyssenkrupp Financial Overview
- Table 52 Reliance Industries Ltd Company Overview
- Table 53 Reliance Industries Ltd Financial Overview
- Table 54 ReNew Energy Global Company Overview
- Table 55 ReNew Energy Global Financial Overview
- Table 56 Azure Power Company Overview
- Table 57 Azure Power Financial Overview
