The production and use of green hydrogen has incredible potential towards achieving India’s Net Zero target by 2070. Green hydrogen can:
- Significantly reduce emissions as industrial feedstock by replacing grey hydrogen, which is currently produced from fossil fuels, and is widely used in sectors like oil refining, fertiliser production, and chemical manufacturing.
- Serve as a viable solution to help manage fluctuating renewable energy generation from locations where there is a significant demand for energy, enabling better grid balancing and flexibility.
- Reduce the need for fossil fuel imports, potentially saving India around ₹100,000 crores when produced domestically.
Overall, green hydrogen has an investment potential of $100billion and could create 600,000 jobs.
New market research by ITES
Fuelled by the forthcoming Indian government Policy Frameworks for Green Hydrogen, ITES commissioned new market research to explore the opportunities. The research results are only available to ITES SME programme participants, partners and funders.
ITES offers these important stakeholders exclusive access to the green hydrogen research report and accompanying workshops, to expand their knowledge and understanding in five key areas:
- Policy and regulatory overview
- Industry overview
- Technology overview
- Challenges and opportunities
- Case studies
Why this market research report is so valuable
Green hydrogen has significant potential to be used across multiple sectors, including industrial processes, energy storage and as a cleaner fuel alternative. The report considers green hydrogen to be a critical piece of energy transition to achieve economy wide Net Zero emissions.
Green hydrogen can help India reach its own Renewable Energy targets. The report addresses India’s targets including:
- Approximately 125GW of renewable power generation capacity (installed)
- 50GW of electrolyser capacity (installed)
- 50 billion litres of demineralised water
These targets are to achieve India’s target to produce 5 million tons per annum of green hydrogen by 2030, through scale up of renewable energy infrastructure and hydrogen production capacity.
Exports and imports
India has ambitions to become a major export hub in the international green hydrogen supply chain and is actively promoting green hydrogen through its policies. The National Hydrogen Mission is an ambitious initiative launched by the Indian government. The initiative aims to leverage the country’s abundant renewable energy resources to become a key export hub, with a target to meet 10% of the world’s green hydrogen export market by 2030.
Uses and production
At present, 99% of existing hydrogen demand is driven by fertiliser manufacture and refineries. The potential for green hydrogen extends far beyond this limited market for companies with the technology and capabilities to look at the creation, storage and distribution of green hydrogen.
Key benefits of the market research for ITES partners
India’s strategic focus around green hydrogen creates exciting opportunities for SMEs to position themselves for international operations. The report highlights key areas where agile and innovative SMEs can position themselves at the forefront of the green hydrogen market in India, as well as the support available to enable them to do that, including:
- Funding: Green Hydrogen has an investment potential of $100 billion, supporting economic growth and sustainability of the sector. SMEs working with ITES can use the report findings to align their goals with government policies. For example, SMEs could secure funding through schemes like the SIGHT program, an incentive scheme for green hydrogen production and electrolyser manufacturing.
- Policy and Regulations: India is actively promoting green hydrogen through major policies including the National Green Hydrogen Mission and the National Hydrogen policy. By giving in-depth details of this and relevant schemes, the research can give SMEs an understanding of how to leverage these incentives to reduce operational cost and ease entry into the market.
- Hydrogen Technologies: The market research covers the technological advances in hydrogen with current known challenges to provide SMEs with a competitive advantage across the various hydrogen production sectors and use cases.
- Collaborations: The report highlights the opportunities for UK-India collaboration, with Indian companies already seeking partnerships to accelerate their hydrogen capabilities. SMEs can utilise the market research to consider partnerships to optimise knowledge exchange, reduce costs and grow their market reach.
- Challenges: Having an understanding of the green hydrogen challenges and opportunities provides ITES programme SMEs with the knowledge to enhance their business strategies for the hydrogen sector.
Coming up in our market research series
ITES have commissioned six separate pieces of market research in India, with future insights for our SMEs on:
- Charge point operators
- EV fleet operators
- The EV market
- Smart cities
- Stationary storage
These reports are created for the benefit of companies on our SME program, providing accurate, timely and insightful information in a comprehensive and accessible report that is unavailable elsewhere.
Our market research reports are free to relevant SMEs. If you’re an innovator and would like to access the full 92-page report, or find out more about our series, please contact us at info@ites.org.
