According to TechSci Research report “India Hydrogen Market By Technology, By Mode, By Application, Competition Forecast& Opportunities, 2012 – 2022’’, hydrogen market in India is forecast to reach $ 365 million by 2022. In 2016, Gujarat Alkalies and Chemicals Limited held the largest market share; however, with the announced merger of Linde and Praxair expected to be completed in the coming few years, the new combined entity is anticipated to capture the largest market share in India hydrogen market by 2022. Evolving technologies and rising demand for on-site hydrogen from refineries and chemical and pet rochemical plants is likely to aid Linde-Praxair’s dominating market position.
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In India, major sources of hydrogen include steam reforming of naphtha and natural gas, chlor-alkali production and electrolysis of hydrogen. Petroleum refineries also install on-purpose hydrogen production facilities to address the growing need for hydro-desulfurization of fuels such as diesel and petrol. India hydrogen market is dominated by the captive mode of consumption as it is used to produce ammonia and methanol. West India accounts for the largest share in hydrogen market in the country, due to the presence of refineries and chemical and petrochemical companies such as Reliance Industries, Essar Oil, Indian Oil Corporation, Grasim Industries, Tata Chemicals and others in the region.
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“Growing economy is expected to give a boost to chemical consumption in the country, which would create huge opportunities for investments in the chemical sector, thereby aiding India hydrogen market during the forecast period. Growing government regulations towards desulfurization of petroleum products and intensifying demand for cleaner fuels are some of the other factors that would positively influence the hydrogen market in India over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Hydrogen Market By Technology, By Mode, By Application, Competition Forecast & Opportunities, 2012 – 2022’’ has evaluated the future growth potential of India hydrogen market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India hydrogen market.
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