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India's Hydrogen Future: ₹22 Lakh Crore Market by 2035
11 Oct
Summary
- Global green hydrogen market to reach $231 billion by 2035.
- India targets 5 million tonnes annual production by 2030.
- Three companies are expanding into green hydrogen manufacturing.
The global green hydrogen market is anticipated to surge from $12 billion in 2025 to an impressive $231 billion by 2035, fueled by the demand for cleaner energy solutions. India is actively participating in this transition, with the National Green Hydrogen Mission aiming for an annual production of 5 million tonnes by 2030.
This ambitious target necessitates considerable expansion in renewable power generation, electrolyser manufacturing, and essential infrastructure. The mission includes significant sectoral investments, supported by programs like SIGHT, to bolster domestic production and manufacturing capabilities.
Companies like Waaree Energies are diversifying from solar into green hydrogen, building a one GW electrolyser manufacturing facility in Gujarat, targeted for commercialization by FY27. Advait Energy Transitions is focusing on indigenous electrolyser technology, partnering for manufacturing rights and commissioning a 30 MW semi-assembly unit in Ahmedabad.
NTPC is developing a large-scale green hydrogen hub at Pudimadakka, envisaging an investment of ₹1 lakh crore. This hub will leverage renewable energy for significant hydrogen production. Despite these advancements, large-scale commercial operations for green hydrogen are still considered a distant goal by industry leaders.
