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Hydrogen Economy Market Opportunity in India & Outlook 2035

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Report Summary Tracking $500+ Billion Investments for hydrogen hub transformation of the country

Hydrogen Economy Market Opportunity in India & Outlook 2035

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    In 2023, the hydrogen growth market in India is expected to present significant opportunities. Hydrogen economy market opportunity in India most of the hydrogen produced is through fossil fuel, also known as grey hydrogen with the quantum approaching 6 MMT. For realizing hydrogen’s potential as a contributor for decarbonization in the country shall require a scale up of 5-6 times the current volume at least by FY 29-30. This scale-up also would need a share from green hydrogen as well for which the renewable capacity has to go up and production pathways should see a significant reduction in cost approaching the optimal levels. The road from grey –to- green hydrogen must be traversed via blue hydrogen for a country like India, which also reduces fossil fuel emissions through CCUS (carbon capture, utilization and storage) and shall enable the country reduce the emissions by 50 MMT by 2030. The biggest enabler for this shall be the declining trend of hydrogen costs which if bought to $2 levels/kg basis shall be highly competitive.
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