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    India Green Hydrogen Market

    ID: MRFR/E&P/14553-HCR
    128 Pages
    Garvit Vyas
    September 2025

    India Green Hydrogen Market Research Report Information By Technology (Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer and Others), By Energy Source (Solar, Wind and Others), By End-Users (Power Generation & Energy Storage, Automotive & Transportation, Refineries & Petrochemicals and Others (Food & Beverages, Steel, Cement Industries etc)) –Market Forecast Till 2032

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    Table of Contents

    India Green Hydrogen Market Summary

    The India Green Hydrogen market is poised for substantial growth, projected to reach 16.9 USD Billion by 2035.

    Key Market Trends & Highlights

    India Green Hydrogen Key Trends and Highlights

    • The market valuation for India Green Hydrogen is estimated at 5.04 USD Billion in 2024.
    • From 2025 to 2035, the market is expected to grow at a compound annual growth rate of 11.63%.
    • By 2035, the market is anticipated to expand to 16.9 USD Billion, indicating robust growth potential.
    • Growing adoption of renewable energy technologies due to increasing environmental concerns is a major market driver.

    Market Size & Forecast

    2024 Market Size 5.04 (USD Billion)
    2035 Market Size 16.9 (USD Billion)
    CAGR (2025-2035) 11.63%

    Major Players

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

    India Green Hydrogen Market Trends

      • Rising integration of renewable energy resources is driving market growth.

    As a result, partnerships and collaborations between renewable energy developers and hydrogen producers are becoming more common, contributing to the growth of a sustainable and interconnected energy ecosystem.

    Furthermore, India’s increased promotion of green hydrogen production is part of reducing carbon emissions and transitioning to a low-carbon economy. The government has introduced various policies and initiatives to incentivize and support the growth of the green hydrogen market. For instance, the National Hydrogen Mission aims to promote the production and use of hydrogen, focusing on green hydrogen. Financial incentives and regulatory frameworks are being established to encourage investments in green hydrogen projects. These policy measures create a favorable environment for businesses to enter and thrive in the green hydrogen market. Thus driving the Green Hydrogen market revenue.

    India Green Hydrogen Market Drivers

    Market Segment Insights

    Green Hydrogen Technology Insights

    The India Green Hydrogen market segmentation, based on technology, includes Proton Exchange Membrane Electrolyzers, Alkaline Electrolyzers, Solid Oxide Electrolyzers, and Others. The Proton Exchange Membrane Electrolyzer segment dominated the market mostly. It utilizes a solid polymer electrolyte membrane, ensuring high efficiency and adaptability for various applications. Its ability to produce high-purity hydrogen and operate at lower temperatures makes it a prominent choice, fostering growth in the green hydrogen sector in India.

    Green Hydrogen Energy Source Insights

    The India Green Hydrogen market segmentation, based on energy sources, includes Solar, Wind, and Others. The solar category generated the most income. It contributes prominently to the production of green hydrogen. Utilizing photovoltaic technology, solar-driven electrolysis enables sustainable hydrogen production, aligning with India's commitment to clean energy. This segment reflects the nation's emphasis on harnessing solar power for green hydrogen production, fostering a more environmentally friendly energy landscape.

    Figure 1: India Green Hydrogen Market, by Energy Source, 2022 & 2032 (USD Billion)

    Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

    Green Hydrogen End-users Insights

    The India Green Hydrogen market segmentation, based on end-users, includes Power Generation and Energy Storage, Automotive and transportation, Refineries, and petrochemicals, and Others (Food and beverages, Steel, Cement Industries, etc.). The power generation & energy storage category generated the most income. With a direct emphasis on sustainable energy solutions, these sectors are adopting green hydrogen as a key component. Power Generation leverages green hydrogen for cleaner energy production. At the same time, Energy Storage utilizes it to address intermittency challenges, contributing to India's more reliable and sustainable energy ecosystem.

    Green Hydrogen Country Insights

    The transition towards sustainable and clean energy solutions is influencing the market's growth in India. The government's focus on deducting carbon emissions and fostering renewable energy initiatives has propelled the green hydrogen sector. With abundant solar and wind resources, India is well-positioned to produce green hydrogen through electrolysis. Several projects and collaborations between government bodies, private enterprises, and international stakeholders are driving innovation and investment in green hydrogen technology. The Indian government's National Hydrogen Mission further underscores the commitment to fostering a hydrogen economy.

    As demand for clean energy intensifies, India's green hydrogen market is poised for expansion, offering opportunities for economic growth, technological advancement, and a reduction in environmental impact.

    Get more detailed insights about India Green Hydrogen Market Research Report – Forecast till 2032

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    Regional Insights

    Key Players and Competitive Insights

    Leading market players are investing majorly in research and development to spread their product lines, which will help the Green Hydrogen market grow even more. The participants are also undertaking a variety of strategic activities to spread their footprint with new market developments, including product launches, contractual agreements, mergers and acquisitions, major investments, and collaboration with other organizations. The Green Hydrogen industry offers cost-effective items to spread and survive in a competitive and rising market climate.

    The players in the India Green Hydrogen market are attempting to raise market demand by investing in research and development operations, including Cummins India, Hydrogen Pro AS, MHI, Stiesdal A/S, Siemens, ThyssenKrupp, Acme Group, Azure Power, Adani Group, Reliance Industries Ltd., NTPC Limited, GAIL Limited, L&T, Air Products, Bharat Petroleum Corporation Limited (BPCL) and JSW Energy Neo Ltd.

    Key Companies in the India Green Hydrogen Market market include

    Industry Developments

    • Q2 2025: India awards $261 mil for 450000 mt/year renewable hydrogen production in 2024-25 India awarded Rupees 22.39 billion ($261 million) in incentives for the production of 450,000 metric tons per year of renewable hydrogen for 2024-25, as part of its National Green Hydrogen Mission to boost domestic production.
    • Q2 2025: Govt. Opens Second Funding Round for Green Hydrogen Testing Facilities Under NGHM The Indian government opened a second funding round for green hydrogen testing facilities under the National Green Hydrogen Mission, with an overall outlay of INR 200 crore for 2024–26 to support infrastructure and R&D.

    Market Segmentation

    Green Hydrogen End-users Outlook

    • Power Generation & Energy Storage
    • Automotive & Transportation
    • Refineries & Pharmaceuticals
    • Others (Food & Beverages, Steel, Cement Industries, etc.)

    Green Hydrogen Technology Outlook

    • Proton Exchange Membrane Electrolyzer
    • Alkaline Electrolyzer
    • Solid Oxide Electrolyzer
    • Others

    Green Hydrogen Energy Source Outlook

    • Solar
    • Wind
    • Others

    Report Scope

    Report Attribute/Metric Details
    Market Size 2022 USD 4.53 Billion
    Market Size 2032 USD 12.33 Billion
    Compound Annual Growth Rate (CAGR) 11.1% (2023-2032)
    Base Year 2022
    Market Forecast Period 2023-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Technology, Energy Source, End-users, and Region
    Countries Covered India
    Key Companies Profiled Cummins India, Hydrogen Pro AS, MHI, Stiesdal A/S, Siemens, ThyssenKrupp, Acme Group, Azure Power, Adani Group, Reliance Industries Ltd., NTPC Limited, GAIL Limited, L&T, Air Products, Bharat Petroleum Corporation Limited (BPCL) and JSW Energy Neo Ltd.
    Key Market Opportunities Increasing investments from both domestic and international sources Advances in electrolysis technology
    Key Market Dynamics Growth in the functional beverage market  Reducing dependence on conventional fossil fuels

    Market Highlights

    Author
    Garvit Vyas
    Analyst

    Explore the profile of Garvit Vyas, one of our esteemed authors at Market Research Future, and access their expert research contributions in the field of market research and industry analysis

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    FAQs

    How much is the Green Hydrogen market?

    The India Green Hydrogen market size was valued at USD 4.53 Billion in 2022.

    What is the growth rate of the Green Hydrogen market?

    The market is projected to grow at a CAGR of 11.1% during the forecast period, 2023-2032.

    Who are the key players in the Green Hydrogen market?

    The key players in the market are Cummins India, Hydrogen Pro AS, MHI, Stiesdal A/S, Siemens, ThyssenKrupp, Acme Group, Azure Power, Adani Group, Reliance Industries Ltd., NTPC Limited, GAIL Limited, L&T, Air Products, Bharat Petroleum Corporation Limited (BPCL) and JSW Energy Neo Ltd.

    Which technology led the Green Hydrogen market?

    The proton exchange membrane electrolyzer category dominated the market in 2022.

    Which energy source had the largest market share in the Green Hydrogen market?

    The solar category had the largest share of the market.

    Which end-users had the largest market share in the Green Hydrogen market?

    The power generation & energy storage category had the largest share of the market.

    No Data Available

    India Green Hydrogen Market Segmentation

    Market Segmentation Overview

    • Detailed segmentation data will be available in the full report
    • Comprehensive analysis by multiple parameters
    • Regional and country-level breakdowns
    • Market size forecasts by segment
    Report Infographic
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