India Hydrogen Market Set to Cross $365 M by 2022

This report, now available on ASDReports, “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 petrochemical plants is likely to aid Linde-Praxair’s dominating market position.  

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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Source: ASDReports - Market Research
Date: Feb 13, 2018