India Hydrogen Generation Market Size & Outlook, 2023-2030
India hydrogen generation market, 2018-2030 (US$B)
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India hydrogen generation market highlights
- The India hydrogen generation market generated a revenue of USD 9.5 billion in 2023 and is expected to reach USD 19.8 billion by 2030.
- The India market is expected to grow at a CAGR of 11% from 2024 to 2030.
- In terms of segment, transportation was the largest revenue generating application in 2023.
- Transportation is the most lucrative application segment registering the fastest growth during the forecast period.
Hydrogen generation market data book summary
| Market revenue in 2023 | USD 9.5 billion |
| Market revenue in 2030 | USD 19.8 billion |
| Growth rate | 11% (CAGR from 2023 to 2030) |
| Largest segment | Transportation |
| Fastest growing segment | Transportation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Methanol Production, Ammonia Production, Petroleum Refinery, Transportation, Power Generation |
| Key market players worldwide | Air Liquide SA, Air Products & Chemicals Inc, Cummins Inc, Iwatani Corp, Linde PLC, Nippon Sanso Holdings Corp, Tokyo Gas Co Ltd |
Other key industry trends
- In terms of revenue, India accounted for 5.6% of the global hydrogen generation market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China hydrogen generation 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 19.8 billion by 2030.
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Hydrogen Generation Market Scope
Hydrogen Generation Market Companies
| Name | Profile | # Employees | HQ | Website |
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India hydrogen generation 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 hydrogen generation market will help companies and investors design strategic landscapes.
Transportation was the largest segment with a revenue share of 22.11% in 2023. Horizon Databook has segmented the India hydrogen generation market based on methanol production, ammonia production, petroleum refinery, transportation, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
India accounts for one of the major hydrogen generation markets in the Asia Pacific region owing to the presence of a large number of refineries in the country which utilize hydrogen in various processes.
Further, the government of India is aiming to improve hydrogen infrastructure in the country owing to which the government is expected to take several initiatives regarding the hydrogen infrastructure in the future.
In addition, various companies and research institutes in the country are conducted R&D for the generation of hydrogen in a cost-effective manner and by cleaner technologies. For instance, Oil and Natural Gas Corporation Ltd. (ONGC) is currently conducting research for generation of hydrogen by electrolysis technology under its ONGC Energy Center (OEC).
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Target buyers of India hydrogen generation market databook
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Our clientele includes a mix of hydrogen generation 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 hydrogen generation market , including forecasts for subscribers. This country databook contains high-level insights into India hydrogen generation market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India hydrogen generation market size, by application, 2018-2030 (US$B)
India Hydrogen Generation Market Outlook Share, 2023 & 2030 (US$B)
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