India Hydrogen Generation Market Overview, 2027

Hydrogen is the most abundant element, accounting for 75% of the universe, and it plays a larger part in resource viability. Apart from aiding the survival of other living species, hydrogen is a fuel that can be used to create energy. Hydrogen has the potential to play a key role in a future low-carbon economy, with applications in the industrial, transportation, and power sectors. In India, hydrogen has mostly been used as an industrial feedstock for the production of ammonia-based fertilizers. India was the world's third-largest carbon emitter in 2021 and is planning to become a hub for the production and export of green hydrogen, which is created from water and renewable power. In 2021, India will produce more than 95% of hydrogen with the steam methane reforming and coal gasification processes. According to the report titled "India Hydrogen Generation Market Overview, 2027" published by Bonafide research, the market size of India’s hydrogen generation market is anticipated to grow by more than a CAGR of 7% in the forecast period in terms of volume. The production of hydrogen has been increasing year on year and the government of India, understanding the market demand and especially the increasing needs of "green hydrogen" in the near future, is adopting new technologies. Maximum utilisation of produced hydrogen is in petroleum refineries, ammonia production, and other applications. As a result, India is shifting its focus from grey hydrogen generation to green hydrogen generation. India is developing electrolysis technology. Electrolysis, which includes passing a strong electric current through water to separate hydrogen and oxygen atoms, is used to produce hydrogen gas from water. The Indian government, together with firms such as Reliance Industries (RIL), Larsen & Toubro, JSW Steel, Jindal Steel, NTPC, BPCL, and Indian Oil Corp, has declared intentions to build green hydrogen plants. The demand for green hydrogen will increase, as well as the demand for these new technologies will increase. An estimated 40% of India's energy requirements are now imported at a cost of US $160 billion. India will be able to cut its oil, coal, and natural gas imports while simultaneously being able to export hydrogen to other nations in Europe and Asia if it transitions to a hydrogen economy. Due to its geographic location, India has the capacity to create 210 Mtpa (598 Mtoe) of hydrogen from solar and wind energy, meeting 32 percent of Asia-Pacific's hydrogen consumption. This will help India to grow the merchant hydrogen market faster than before. The growth of India's merchant hydrogen generation market is around a CAGR of 8.5%, and as per the market scenario, it will grow more after the year 2027. As part of its efforts to restrict the spread of COVID-19, the Indian government imposed a nationwide lockdown from March 25 to May 3. Several limits on individual mobility have been imposed throughout the lockdown, and all economic activity has been halted save for those relating to critical commodities and services. During the first wave of COVID-19, a nationwide lockout led to natural gas usage dropping by roughly 40%. Importing coal and natural gas has become difficult during the COVID-19 phase, which has a direct impact on hydrogen production. In 2020, the hydrogen production pace in India was slow compared to the previous year. Consider in this report: • Geography: India • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • India hydrogen generation market with its value and forecast along with its segments • Application wise hydrogen generation market analysis • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Technical type of hydrogen generation in the report • Steam methane reforming • Coal gasification • Others By application type in the report • Methanol production • Ammonia production • Petroleum refinery • Transportation • Power generation • Others By system type in the report • Captive • Merchant The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to chemical industries, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.