U.S (New York)– The “India Hydrogen Market” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global India Hydrogen Market, its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
The India hydrogen market was valued at $50 million in 2017, and is projected to reach $81 million by 2025, growing at a CAGR of 6.3% from 2018 to 2025. Hydrogen is a colorless, odorless, tasteless, non-toxic, and a highly combustible diatomic gas used in various industries across numerous domains. Hydrogen has been used as a fuel for many decades, as it exhibits excellent properties that include carbon-free fuel, non-toxicity, safe production and storage, secure transport, easy production from many different sources, and an exceptionally clean source of energy.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The demand for hydrogen in India is on the rise, as India has always been an energy-deficient country. Furthermore, Indian economy and population have been continuously growing, which proves challenging for the government to provide energy to such an economy. The sole dependency on petroleum and natural gas for energy is clearly not the solution for an emerging economy, such as India. The growth in practicability of hydrogen fuel cells has significant implications, particularly for the developing countries, such as India. These fuel cells use both oxygen and hydrogen to provide clean energy, which creates an opportunity to provide clean energy to millions of Indians, thereby reducing the energy supply-demand gap.
There is a growth in demand for hydrogen in the end-user industries, such as petroleum refining processes, metal processing, and others. Furthermore, the use of hydrogen in power generation and stringent environmental regulations towards a cleaner form of energy drive the Indian hydrogen market growth. However, the high transportation cost and stagnant prices act as a restraint to the Indian hydrogen market. The use of liquid organic hydrogen carrier (LOHC) technologies for storage and transportation of hydrogen have created better opportunities for the growth of the market.
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The report segments the India hydrogen market based on delivery mode, technology, end user, and region. On the basis of the delivery mode, the market is divided into captive and merchant. By technology, the market is categorized into steam methane reforming, partial oxidation of oil, coal gasification, methanol reforming, ammonia cracking, and electrolysis of water. As per end user, the market is classified into chemical, petroleum refining, metal processing, glass industry, edible fats and oils, energy, and others. Region-wise, it is analyzed across North India, South India, Western India, and East India.
The key players operating in the market include Praxair India Private Limited, Linde India Limited, INOX Air Products, Bhuruka Gases Limited, Air Liquide India, Aditya Birla Chemicals (India) Ltd., Gujarat Alkalies And Chemicals Limited, DCW Limited (DCW), TATA Chemicals Limited, and GHCL Ltd.
KEY BENEFITS FOR STAKEHOLDERS
Porter’s five forces analysis helps to analyze the potential of buyers and suppliers and the competitive scenario of the industry for strategy building.
It outlines the current trends and the future scenario of the India hydrogen market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
The major regions are mapped according to their individual revenue contribution to the India market.
An in-depth analysis of the current R&D within the market is provided along with the key dynamic factors.
The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
The profiles of the key players along with their key strategic developments are enlisted in the report.
KEY MARKET SEGMENTS
By Delivery Mode
Captive
Merchant
By Technology
Steam Methane Reforming
Partial Oxidation of Oil
Coal Gasification
Methanol Reforming
Ammonia Cracking
Electrolysis of Water
By End User
Chemical
Petroleum Refining
Metal Processing
Glass Industry
Edible Fats and Oils
Energy
Others
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By Region
North India
South India
Western India
East India
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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