Sizing the hydrogen market growth from 2020 to 2025 in India

India – Potential & Vision for Hydrogen Economy

There is tremendous potential for low-cost, low-carbon production of H2 in India and the Government along with industry identifies the same.

There is tremendous potential for low-cost, low-carbon production of hydrogen in India, which can enable broad adoption of hydrogen across sectors. Currently in India, hydrogen mainly serve as feedstock in ammonia and methanol production and in refineries. In transportation it is catching up but is in very nascent stages in the country. It is anticipated that good numbers of FCEVs and buses shall come into play in the big cities for public transport in the country. Also, under the mining segment also it is anticipated to evolve as an alternative source.

Market size of hydrogen by volume (in Million tonnes)

India at large witnesses demand from fertilizer, chemicals (methanol) and refineries. Although slowly the demand has risen from 6 million tonnes in 2019 to ~7 million tonnes in 2021. The break-up of demand as per volume is from 2020 to 2025 is depicted in the exhibit as below.

Market size of hydrogen by value (in US$ Billion)

India at large witnesses demand from fertilizer, chemicals (methanol) and refineries. Although slowly the demand has risen from US$ 11 Billion in 2020 to US$ 14.5 Billion in 2021. The break-up of demand as per value is from 2020 to 2025 is depicted in the exhibit as below.