The "India Hydrogen Generator Market Outlook (2021-2027): Market Forecast By Technology (Ammonia Cracker Hydrogen Generator, Methanol Cracker Hydrogen Generator, Steam Methane Reforming Hydrogen Generator, Electrolysis Hydrogen Generator) And Competitive Landscape." report has been added to ResearchAndMarkets.com's offering.
India Hydrogen Generator Market Synopsis
The India hydrogen generator market witnessed significant growth during the 2017-2019 period owing to growth in key application sectors such as the refining sector, petrochemical, and edible oil industries. Further, the period witnessed increased adoption of new technologies such as electrolysis and methanol cracking.
According to the report, the India Hydrogen Generator Market revenue size is projected to grow at a CAGR of 11.0% during 2021-2027. Hydrogen gas is considered as a potential solution to the world's sustainability challenges, India's National Hydrogen Mission aims to cut down carbon emissions by increasing the use of renewable sources of energy to align India with global practices in terms of technology, policy & regulations, and intends to produce three-fourths of its hydrogen production from renewable resources by 2050.
Furthermore, government and private firms such as Indian Oil, NTPC, Reliance group, and Adani Group have ambitious plans to embrace hydrogen as a fuel on account of the nation's transitions towards carbon-free fuel. Additionally, government institution Indian Oil Corporation IOC is also working on a technology to develop hydrogen-spiked compressed natural gas, or H-CNG to use hydrogen as a transportation fuel. In addition to that, government initiatives such as the Renewable and Clean Hydrogen Program, Advanced Hydrogen and Fuel Cell Program would further augment the demand for hydrogen generators in the country.
Market by Technology Analysis
In terms of Technology, steam methane reforming hydrogen generator has captured 65.9% of the market revenues in 2020. Steam methane reforming hydrogen generator accounted for maximum revenue share in 2020 due to the rise in oil & gas production, and petrochemical production. Further, since major application industries such as refineries, and petrochemical processing were operating during the nationwide lockdown demand for steam methane reforming hydrogen generator held up in India.
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