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

With strong regulatory support, rising capital inflows, and increasing industrial demand, India is rapidly positioning itself as a global leader in green hydrogen production and export. The coming decade is expected to witness large-scale investments, technology breakthroughs, and robust infrastructure development, unlocking significant value across the entire hydrogen ecosystem.

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