National Green Hydrogen Mission Powers India’s Clean Energy Market Growth Toward USD 19.52 Billion by 2035
India’s green hydrogen market is entering a transformational growth phase, driven by robust government support, ambitious decarbonization goals, and rapid renewable energy expansion. Valued at approximately USD 4.88 billion in 2025, the market is estimated to reach USD 5.61 billion in 2026 and is projected to surge to USD 19.52 billion by 2035, expanding at a CAGR of 14.8% during 2026–2035.
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Market Momentum Fueled by Strong Policy Backing
The market’s expansion is strongly supported by India’s National
Green Hydrogen Mission and Strategic Interventions for Green Hydrogen
Transition (SIGHT) program, aimed at scaling electrolyser manufacturing,
lowering production costs, and enabling large-scale project deployment. These
initiatives are reinforcing India’s ambition to become a global green hydrogen
export hub, targeting a meaningful share of the 100+ million metric tons global
demand expected by 2030.
Industrial Decarbonization Driving Demand
Rising adoption across refining, fertilizers, steel,
chemicals, and transport sectors is accelerating market growth. Increasing
investments in renewable energy capacity, fueling infrastructure, and hydrogen
production hubs are strengthening regional adoption across West, South, and
North India, positioning green hydrogen as a cornerstone of India’s energy
transition strategy.
Technology Advancements Reshaping Market Landscape
The industry is witnessing a structural shift toward large-scale
electrolyser-based hydrogen production integrated with renewable energy assets.
Growing deployment of alkaline and proton exchange membrane (PEM) electrolysers,
coupled with domestic manufacturing under PLI schemes, is enhancing cost
efficiency, project bankability, and long-term competitiveness.
High-Growth Opportunities Across the Value Chain
Significant opportunities exist in refining, fertilizer
production, green ammonia exports, electrolyser manufacturing, and integrated
renewable-to-hydrogen solutions. Policy-backed demand aggregation, offtake
assurance mechanisms, and technological innovation are creating a strong
investment environment for market participants.
Regional Hotspots Leading Market Expansion
- West
India dominates with strong project pipelines in Gujarat and
Maharashtra.
- South
India benefits from high renewable penetration and industrial demand
in Tamil Nadu, Karnataka, and Andhra Pradesh.
- North
India is emerging through fertilizer demand, solar resource expansion,
and hydrogen mobility projects.
Key Market Players Driving Industry Growth
Major companies shaping the competitive landscape include Reliance
Industries Limited, Adani New Industries Limited, NTPC Limited, Indian Oil
Corporation Limited, Larsen & Toubro Limited, ACME Group, Tata Power
Renewable Energy Limited, JSW Energy Limited, Siemens Energy India Limited, and
Thyssenkrupp Uhde India Pvt. Ltd., among others.
Strategic Outlook