India Green Hydrogen Market Size & Outlook, 2023-2030
India green hydrogen market, 2018-2030 (US$M)
Related Markets
India green hydrogen market highlights
- The India green hydrogen market generated a revenue of USD 125.1 million in 2023 and is expected to reach USD 2,812.8 million by 2030.
- The India market is expected to grow at a CAGR of 56% from 2024 to 2030.
- In terms of segment, transportation was the largest revenue generating application in 2023.
- Power Generation is the most lucrative application segment registering the fastest growth during the forecast period.
Green hydrogen market data book summary
| Market revenue in 2023 | USD 125.1 million |
| Market revenue in 2030 | USD 2,812.8 million |
| Growth rate | 56% (CAGR from 2023 to 2030) |
| Largest segment | Transportation |
| Fastest growing segment | Power Generation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation, Power Generation |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Bloom Energy Corp Class A, Cummins Inc, Engie SA, Linde PLC, NEL ASA, Siemens Energy AG ADR, Uniper SE |
Other key industry trends
- In terms of revenue, India accounted for 2.2% of the global green hydrogen market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China green hydrogen market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,812.8 million by 2030.
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Green Hydrogen Market Scope
Green Hydrogen Market Companies
| Name | Profile | # Employees | HQ | Website |
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India green hydrogen market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to green hydrogen market will help companies and investors design strategic landscapes.
Transportation was the largest segment with a revenue share of 77.14% in 2023. Horizon Databook has segmented the India green hydrogen market based on transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
India announced the “National Hydrogen Mission" on 15 August 2021 to make India a global hub for green hydrogen production and export, boosting self-reliance in energy. India plans to manufacture a cumulative 5 million tons of green hydrogen by 2030.
In February 2022, the government unveiled the first phase of the new green hydrogen policy, promising cheaper renewable power, fee waiver for interstate power transmission for 25 years for projects commissioned before June 2025, land in renewable energy parks, and mega manufacturing zones to help local industries replace fossil fuels.
India and Germany agreed to form a Indo German Green Hydrogen Task Force in May, 2022. Under the agreement, both countries will establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in the production, utilization, storage, and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade, and joint research and development (R&D) projects.
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Target buyers of India green hydrogen market databook
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Our clientele includes a mix of green hydrogen market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India green hydrogen market , including forecasts for subscribers. This country databook contains high-level insights into India green hydrogen market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India green hydrogen market size, by application, 2018-2030 (US$M)
India Green Hydrogen Market Outlook Share, 2023 & 2030 (US$M)
Related regional statistics
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