Archive · 22 Jul 2026
India's Green Hydrogen Market Set to Boom
India's green hydrogen market is expected to grow a lot by 2030.
The cost to make green hydrogen will drop from Rs 410 per kg in 2023 to Rs 180 per kg in 2030.
This is because of cheaper renewable energy and lots of sunlight.
The government has a plan called the National Green Hydrogen Mission to help this growth.
They want to make 5 million tonnes of green hydrogen every year and create half a million jobs.
The market is expected to grow 14 times bigger, reaching $2.8 billion.
There are some concerns about new rules that might affect how much money renewable energy producers make, but overall, the future looks bright for green hydrogen in India.
Green hydrogen production costs to drop from Rs 410/kg in 2023 to Rs 180/kg by 2030.
Market projected to grow 14 times to $2.8 billion by 2030.
National Green Hydrogen Mission aims for 5 million tonnes annual production and 500,000 jobs by 2030.
Government incentives and policy support driving growth and investment.
Tighter grid rules in 2027 could impact renewable energy producers' revenue.
- Who
- Equirus Capital, National Green Hydrogen Mission, Renewable Energy Minister Pralhad Joshi
- What
- India's green hydrogen market is projected to grow significantly by 2030.
- When
- Projections are for the period up to 2030.
- Where
- India
- Why
- Due to competitive renewable energy tariffs, high solar irradiation, and government initiatives.
Optimistic View
Cautious View
Market Growth
Optimistic View
The market is expected to grow 14 times by 2030, reaching $2.8 billion.
Cautious View
The current growth is still a fraction of the 5 million tonne target.
Cost Reduction
Optimistic View
Production costs are projected to drop to Rs 180 per kg by 2030.
Cautious View
The initial costs remain high at Rs 410 per kg in 2023.
Regulatory Impact
Optimistic View
Policy support and incentives are driving growth and investment.
Cautious View
Tighter grid rules could cut revenue for renewable producers.
- Current Production Cost
- Rs 410 per kg (2023)
- Projected Production Cost
- Rs 180 per kg (2030)
- Market Growth Rate
- 56% CAGR till 2030
- Market Size (2024)
- $0.195 billion
- Market Size (2030)
- $2.8 billion
- National Green Hydrogen Mission Budget
- Rs 19,744 crore
- SIGHT Scheme Budget
- $2.1 billion
- CO2 Emissions Reduction Target
- 50 million tonnes annually by 2030