The market for Indian-manufactured hydrogen equipment could be worth $45-50bn by 2030, according to a new report released by the India Hydrogen Alliance (IH2A).
Entitled the ‘Hydrogen Equipment Manufacturing and Services’ report, the market assessment covers all hydrogen production plant equipment, including electrolyser and balance-of-plant equipment, that can be deployed in India, and exported from India to the Asia, Middle East and Africa region.
According to the report, the $45-50bn hydrogen equipment and services market assessment is split 34% for electrolysers stacks, 62% for Balance of Plant equipment and 4% for specialist Engineering Services.
This estimate comprises a domestic hydrogen production plant equipment market of $9bn in India, a figure based on an estimated number of 135 domestic plants by 2030 deployment of 6.8 gigawatt (GW) per annum electrolyser capacity – capable of producing a delivering at least one million metric tonnes of green hydrogen to domestic offtake for industrial use.
