India Hydrogen Market Forecast 2018-2025 | Industry Share, Latest Trends, Investment, Top Players, Growth and Regions Forecast
According to
a new report published by KD Market Insights, titled, India Hydrogen
Market by Delivery Mode, Technology, and End User: Global Opportunity
Analysis and Industry Forecast, 2018-2025, the India hydrogen market was valued
at $50 million in 2017, and is projected to reach $81 million by 2025, growing
at a CAGR of 6.3% from 2018 to 2025. The captive segment
accounted for more than 83% share of the India hydrogen market in terms of
value in 2017.
Hydrogen is
a non-toxic, highly combustible diatomic gas, which has been used as a fuel
since several decades. The demand for hydrogen in India has been increasing
significantly, owing to a surge in the need for hydrogen in the petroleum
refining processes, metal processing, and others. In addition, rise in the use
of hydrogen in power generation and implementation of stringent environmental
regulations towards a cleaner form of energy are the key factors contributing
to the growth of the India hydrogen market. However, high transportation cost
and stagnant prices act as the major restraints of the market. On the contrary,
the India hydrogen market is yet to explore its full potential. The use of
liquid organic hydrogen carrier (LOHC) technologies for storage and
transportation of hydrogen is anticipated to provide lucrative opportunities
for the growth of the market.
The report
segments the India hydrogen market based on delivery mode, technology, end
user, and region. By delivery mode, the market is divided into captive and
merchant. The merchant delivery model is estimated to grow at the highest CAGR
of 7.1% during the forecast period. As per the consumption, the captive
delivery model generated a revenue of $44 million in 2017 and is expected to
reach $67 million by 2025.
The steam
methane reforming segment is a significant contributor to the market and is
projected to occupy two-sevenths of the market share by 2025. Based on end user,
the market is fragmented into chemical, petroleum refining, metal processing,
glass industry, edible fats & oils, energy, and others. By production, the
chemical industry occupied more than half of the share of the India hydrogen
market. Region-wise, the market is analyzed across North India, South India,
Western India, and East India.
Key
Findings of the India Hydrogen Market:
- The energy
segment is projected to grow at a CAGR of 8.4%, in terms of value, during the
forecast period.
- The methanol reforming segment is expected to grow at the highest CAGR of 8.6%, in terms of value, throughout the forecast period.
- The chemical segment accounted for more than half of the share of the India hydrogen market in terms of volume in 2017.
- The north India segment is projected to grow at a CAGR of 6.9%, in terms of value, from 2018 to 2025.
- The methanol reforming segment is expected to grow at the highest CAGR of 8.6%, in terms of value, throughout the forecast period.
- The chemical segment accounted for more than half of the share of the India hydrogen market in terms of volume in 2017.
- The north India segment is projected to grow at a CAGR of 6.9%, in terms of value, from 2018 to 2025.
The hydrogen
production in South India has been witnessing several developments. This factor
is expected to boost the market growth during the forecast period. The Indian
Institute of Technology, Hyderabad, has been working on low temperature plasma
catalysis for the conversion of greenhouse gases, such as carbon dioxide and
methane into syngas/H2. The Institute of Science and Technology, Hyderabad, had
developed the proton exchange membrane-based water electrolyzer to produce
hydrogen through the Nafion membrane. In Western India, hydrogen has been
offering support to future requirements for clean energy. The growth in
initiatives for reducing greenhouse emission and the increase in technological
developments in cities, such as Pune and Mumbai, are expected to drive the
growth of the market.
The key
players operating in the market include Praxair India Private Limited, Linde
India Limited, INOX Air Products, Bhuruka Gases Limited, Air Liquide India, and
Aditya Birla Chemicals (India) Ltd. The other prominent players include Gujarat
Alkalies And Chemicals Limited, DCW Limited (DCW), TATA Chemicals Limited, and
GHCL Ltd.
About Us:
KD Market Insights offers a
comprehensive database of syndicated research studies, customized reports, and
consulting services. These reports are created to help in making smart, instant
and crucial decisions based on extensive and in-depth quantitative information,
supported by extensive analysis and industry insights.
Our dedicated in-house team ensures the reports
satisfy the requirement of the client. We aim at providing value service to our
clients. Our reports are backed by extensive industry coverage and is made sure
to give importance to the specific needs of our clients. The main idea is to
enable our clients to make an informed decision, by keeping them and ourselves
up to date with the latest trends in the market.
Contact Us:
KD Market Insights
150 State Street, Albany,
New York, USA 12207
Telephone: +1 (516)
300-1215
Comments
Post a Comment