India Green Hydrogen Market Report and Forecast 2026-2034

Study Period

2020-2034

Market (2025)

USD 762.55 Million

Market (2034)

USD 25586.79 Million

CAGR

47.75%

Major Markets Players

Reliance Industries Limited (RIL), Oil & Natural Gas Corporation (ONGC), Adani New Industries Limited (ANIL), GAIL India Limited, National Thermal Power Corporation Limited (NTPC) and Others

India Green Hydrogen Market Overview: Market Size & Forecast (2026–2034)

What is the anticipated CAGR & size of the India Green Hydrogen Market?

The India Green Hydrogen Market is anticipated to register a CAGR of around 47.75% during the forecast period, 2026-34. Additionally, the market size was valued at nearly USD 762.55 million in 2025 and is projected to reach nearly USD 25586.79 million by 2034.

Market Analysis & Insights

The India Green Hydrogen Market is augmenting as national policy, industrial decarbonization mandates, and huge private investments converge to scale capacity between 2026–2034. Also, the government's National Green Hydrogen Mission offers financial assistance, R&D financing, and pilot grants to de-risk early commercial facilities (with an initial spending of about USD 2.4 billion, including the SIGHT program).

Further, there is a robust market demand for locally produced green H₂ as leading industrial customers, such as refineries, fertilizer plants, steel producers, and chemical producers, are lining up offtake agreements & pilot conversions. Also, incorporated ecosystems are being swiftly implemented by private enterprises, which is contributing in enhancing the India Green Hydrogen Market share.

Moreover, the company, Reliance is building a multi-gigawatt green hydrogen & electrolyser ecosystem at Jamnagar. Along with this, the NTPC & state hubs (e.g., proposed 1,500 tpd NTPC hub) and IOCL’s refinery projects illustrate how tenders & cluster funding are catalyzing scale & logistics investment.

Additionally, renewable energy deployment, aggressive corporate targets, supportive hydrogen policy India, and green financing are the fundamental drivers placing the country to commercialize green hydrogen at scale, enabling exports (green ammonia), hard-to-abate industrial decarbonization, and a nascent H₂ supply chain throughout the forthcoming years, eventually creating a positive outlook for the India Green Hydrogen Market.

What is the Impact of AI in the India Green Hydrogen Market?

AI enhances electrolyzer uptime, predictive maintenance, and renewable dispatch optimization, decreasing the levelized prices of hydrogen. Also, ML (machine learning) augments site selection, optimizes grid-to-electrolyzer scheduling, and improves operational effectiveness in the India Green Hydrogen Market value chain.

India Green Hydrogen Market Dynamics

What driving factor acts as a positive influencer for the India Green Hydrogen Market?

• Increasing Industrial Decarbonization Demands to Instigate Market Growth: The country’s refineries, steel, and fertilizer industries are facing increasing emission-reduction mandates, which is creating market prospects. Government incentives & corporate net-zero goals are generating solid offtake demand for green hydrogen. Also, industrial conversion projects, backed by policy & financing support, are predicted to dominate early revenue streams & anchor large-scale usage through 2034.

What are the challenges that affect the India Green Hydrogen Market?

• Infrastructure & Regulatory Bottlenecks to Hinder Growth Graph: The India Green Hydrogen Market lacks strong pipelines, refueling stations, and export infrastructure for hydrogen & green ammonia. Moreover, unpredictable regulations around safety, certification, and blending percentages also hinders investor confidence. Further, these infrastructure & policy gaps suspend large-scale rollout, even as technology, funding, and developer interest continue to upscale, hence limiting industry expansion.

How are the future opportunities transforming the market during 2026-34?

• Domestic Gigafactories & Hydrogen Clusters: Integrated giga-projects like Reliance Jamnagar & NTPC green hubs could establish local electrolyser production & cluster-based economies. Also, supported by SIGHT subsidies, these initiatives reduce production expenses, reinforce supply chains, and position India as a competitive exporter of green hydrogen & green ammonia across the global landscape.

What market trends are affecting the India Green Hydrogen Market Outlook?

• Policy-Driven Investments & Global Partnerships: Government programs such as SIGHT & renewable PLI schemes are drawing global investments & joint ventures between oil & gas, power, and technology companies. Also, these partnerships, strengthened by green bonds & international hydrogen diplomacy, would quicken commercialization & support India’s leadership across the Green Hydrogen Market.

How is the India Green Hydrogen Market Defined as per Segments?

The India Green Hydrogen Market Research Reports provide detailed market data & insights in accordance with market segmentation. Some of the segments are:

• End User: Chemical Industry, Refinery, Power & Energy, Steel & Cement Industry, Transportation Sector, and Others (Export & Green Ammonia Producers)
• Source of Renewable Energy: Solar Energy, Wind Energy, Hybrid (Solar + Wind)

By End User:

The Refinery & Chemical sector captures the largest share of the India Green Hydrogen Market. As companies such as IOCL, IndianOil and BPCL convert existing hydrogen streams to green H₂ to meet emission goals, the sector is observed to become prominent across the national market. Also, refineries’ continuous on-site hydrogen demand & existing hydrogen networks make them economically captivating first movers.

By Source of Renewable Energy:

The Solar Energy segment to dominate the India Green Hydrogen Market, capturing the biggest market share. The leadership is owing to India’s high solar insolation & declining PV costs. Most declared green H₂ projects pair electrolysers with big solar parks (often hybridized with wind or storage) to secure low-cost, round-the-clock renewable supply. 

India Green Hydrogen Market: What Recent Innovations Are Affecting the Industry?

• 2025: Adani New Industries Limited (ANIL) commissioned India’s first off-grid 5 MW green hydrogen pilot, demonstrating fully automated solar-to-electrolyser operations & providing learnings for off-grid industrial applications. 

What are the Key Highlights of the India Green Hydrogen Market (2026–34)?

• India strives to become a major exporter with about 862,000 tons’/year production assigned to nearly 19 companies by 2030 under National Green Hydrogen Mission.
• The India Green Hydrogen Market size is predicted to expand from nearly USD 762.55 million in 2025 to USD 25586.79 billion by 2034, with CAGR of about 47.75% during 2026-34.
• Transportation is currently the biggest application segment in terms of revenue.
• Power Generation anticipated fastest-growing application.
• Under technology, electrolysis leads (specifically PEM & alkaline) the national market.
• PEM is favored for dynamic & high-purity usages.
• AI role-play: Smart optimization, forecasting of electrolyzer & plant operations, predictive maintenance, and efficacy improvements decreasing LCOH in the India Green Hydrogen Market.

How does the Future Outlook of the India Green Hydrogen Market (2034) Appears?

With multi-GW electrolyser capacity, assembled manufacturing, and downstream exports (green ammonia), India's H₂ economy would be largely commercial by 2034. Also, the prevalent industrial decarbonization & new value chains would be supported by cost reductions from domestic electrolyser gigafactories, mature renewable energy integration, and policy tools (SIGHT, PLI, green financing), further contributing in enhancing the future outlook of the India Green Hydrogen Market. Also, AI-enabled operations would further aid in minimizing costs & improve dependability in the forecast years.

What Does Our India Green Hydrogen Market Research Study Entail?

• The India Green Hydrogen Market Research Report highlights the forecast growth rate (CAGR) by anticipating the market size and share.
• The market analysis & market scope sheds light upon the primary industry trends, driving aspects, potential opportunities, growth challenges, and other major factors.
• The India Green Hydrogen Market Research Report entails details about the most critical shifts in market share in the prominent regions.
• Considering the statistics & the developments by the primary market competitors, our report also strives to demonstrate the most sought-after strategies of the key players.