India’s Green Hydrogen Boom: Projected $22 Billion Market by 2030

India’s hydrogen market is on a trajectory to make significant strides by 2030, with various reports and governmental plans outlining a comprehensive roadmap for growth and development in this sector.

Market Projections

  • Market Size: The hydrogen generation market in India is projected to reach a value of approximately $21.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.1% from 2023​​.
  • Global Comparison: This growth is part of a larger global trend, where the hydrogen generation market is expected to reach $295.8 billion by 2030​​.

Production Goals and Government Initiatives

  • Green Hydrogen Production: India aims to manufacture five million tonnes of green hydrogen annually by 2030. This is in line with its climate targets and ambition to become a production and export hub for green hydrogen​​.
  • Incentives and Infrastructure: The country plans to set up dedicated manufacturing zones, waive inter-state power transmission charges for 25 years, and provide priority connectivity to electric grids for green hydrogen and ammonia producers​​.
  • Comparison with EU: India’s production target of five million tonnes is half of the European Union’s goal, which aims to produce 10 million tonnes of hydrogen from renewable energy by 2030​​.
  • Financial Support: The government plans to provide federal financial support for setting up electrolysers and mandates the use of green hydrogen for refineries and fertiliser plants​​.

Investment and Economic Impact

  • Government’s Incentive Plan: India has approved an incentive plan of 174.9 billion rupees ($2.11 billion) to promote green hydrogen. This plan aims to cut emissions, become a major exporter in the field, and help India achieve net-zero carbon emissions by 2070​​.
  • Electrolyser Capacity: Plans are in place to build an electrolyser capacity of 60 to 100 gigawatts to facilitate the production of green hydrogen​​.
  • Expected Investments: The government expects investments totaling 8 trillion Indian rupees ($96.65 billion) in the green hydrogen sector by 2030​​.
  • Participation of Major Companies: Prominent Indian companies like Reliance Industries, Indian Oil, NTPC, Adani Enterprises, JSW Energy, ReNew Power, and Acme Solar are planning significant investments in green hydrogen​​.

Concluding Remarks

The concerted efforts by the Indian government and major industrial players to invest and develop the green hydrogen sector reflect a strong commitment to sustainable energy and environmental stewardship. The market size, coupled with production targets and investments, suggests that India is poised to become a significant player in the global hydrogen market by 2030. This growth is expected to contribute not only to India’s energy sector but also to its broader economic and environmental goals, including reducing emissions and dependence on fossil fuels.



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