India Green Hydrogen Market Size, Share, Growth Report (2024-2032) | UnivDatos

According to a recent report by UnivDatos, the India Green Hydrogen Market is projected to reach USD 2,686.78 million by 2032, growing at a staggering CAGR of 69.8%. India is rapidly emerging as a significant player in Asia’s evolving energy landscape. In a major development in late 2022, the Government of India unveiled a $2 billion incentive program dedicated to boosting the green hydrogen sector. This initiative is part of the country’s broader mission to cut emissions and emerge as Asia’s first major hydrogen exporter.

Strengthening international cooperation, India and Australia have recently formalized an agreement to establish a bilateral task force focused on expanding green hydrogen collaboration. These developments align with India’s ambitious vision of becoming energy-independent by 2047 and achieving net-zero emissions by 2070, as outlined in its decarbonization strategy.

On 4th January 2023, the Union Cabinet officially approved the National Green Hydrogen Mission, with a significant budget allocation of ₹19,744 crore.

Mission Objectives

The overarching goal of the National Green Hydrogen Mission is to transform India into a global hub for the production, utilization, and export of green hydrogen and its derivatives. By 2030, the mission targets the establishment of production capacity for at least 5 million metric tons (MMT) of green hydrogen annually, with the potential to scale up to 10 MMT through expanded export markets and global partnerships.

Access sample report (including graphs, charts, and figures): https://univdatos.com/reports/india-green-hydrogen-market?popup=report-enquiry

Research and Development Program

India is undergoing a large-scale development of green hydrogen infrastructure. To support this transition, the focus must be on technological advancements in electrolyzers, fuel cells, and associated systems. The goals of this development include:

• Enhancing energy efficiency
• Reducing manufacturing and operational costs
• Extending component life spans
• Minimizing dependency on imported metals and materials

This ambitious R&D effort is envisioned as a collaborative mission involving leading industry players and premier academic institutions.

NITI Aayog R&D Focus Areas (Mission-Mode Recommendations)

• Early-Stage Research: Innovate technologies that reduce the cost of hydrogen delivery and dispensing.
• Fuel Cell Stack Manufacturing: Develop methods to lower costs at high production volumes for automotive applications.
• Advanced Electrolyser Techniques: Utilize cutting-edge technologies such as additive manufacturing to reduce component costs.
• Hydrogen Compression: Explore compression to 875 bar using electrochemical cells and metal hydrides.
• Hydrogen Liquefaction: Improve liquefaction efficiency and reduce capital cost using vortex tube technology and evaluate magnetocaloric systems to double energy efficiency compared to current methods.
• Raw Material Security: Secure critical mineral resources (e.g., Nickel, Zirconium, Lanthanum, Yttrium, Platinum, Iridium) via domestic sourcing or international partnerships, ensuring a robust supply chain for electrolyser components.

Click here to view the Report Description & TOC: https://univdatos.com/reports/india-green-hydrogen-market

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Conclusion

India’s green hydrogen landscape is being reshaped by bold policy moves and dedicated research initiatives. With the National Hydrogen Mission at its core, the country is steering toward becoming a global leader in green hydrogen production and export. This transition is expected to drive not just environmental sustainability but also generate vast economic opportunities and employment. Backed by progressive governance, international alliances, and technological innovation, India’s green hydrogen sector is set for exponential growth, laying the foundation for a cleaner, greener energy future on a global scale.

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