India Green Hydrogen Market Growth Trends & Future Outlook 2030

Future India Green Hydrogen Market: Key Dynamics, Size & Share Analysis

The India Green Hydrogen Market size was valued at around USD 9 billion in 2024 and is expected to reach USD 34.0 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 20.89% during the forecast period, i.e., 2025-30. The market growth is attributed to the rising government initiatives to stimulate green hydrogen supply and demand across the country.

Top Challenges Impacting the India Green Hydrogen Market Growth

High Cost of Green Hydrogen Production to Impede India Green Hydrogen Market Growth – The reason behind the low usage of green hydrogen is its high cost of production, which includes cost across the value chain, lack of infrastructure facilities for transport and storage, as well as high energy losses. The production cost of green hydrogen is determined by the renewable energy cost, the efficiency, as well as the cost of electrolysers and some other factors. The production cost for green hydrogen, viz. electrolysis, is comparatively high as compared to conventional hydrogen production systems. According to the IEA, the hydrogen production through electrolysis, which costs around USD 10.3 per kg, is 5 times higher than that of conventional technologies, which cost around USD 1.5-2.3 per kg. Thus, the high production cost of green hydrogen would remain high without government subsidies and other supportive policies, which results in hindering the market growth during 2025-2030.

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Understanding the Core Segments in the India Green Hydrogen Market

India Green Hydrogen Market Size, Share & Industry Trends Analysis- By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer, Others), By Energy Source (Solar, Wind, Other Renewable Sources), By End Users (Power Generation & Energy Storage, Automotive & Transportation, Refineries & Petrochemicals) and Others

Who Dominates the India Green Hydrogen Market Insights on Key Industry Players?

Companies are strengthening their presence in the India Green Hydrogen market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

Cummins India
HydrogenPro AS
MHI
Stiesdal A/S
Siemens
Thyssenkrupp
Other Potential Players
Acme Group
Azure Power
Other Potential Players
Adani Group
Reliance Industries Ltd.
NTPC Limited
GAIL Limited
L&T
Air Products
Bharat Petroleum Corporation Limited (BPCL)
JSW Energy Neo Ltd
Others

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