Steam methane reforming acquired the largest market revenue share in the India hydrogen generator market in year 2020 – 6Wresearch
The India hydrogen generator market grew significantly between 2017 and 2019, attributed to growth in key application areas such as the refining, petrochemical, and edible oil industries. Furthermore, emerging technologies such as electrolysis and methanol cracking witnessed increased adoption during this time period. Furthermore, COVID- 19 pandemic-related measures, lockdowns, and international trade restrictions led to a slight slowdown in the hydrogen generator industry, as the country’s hydrogen generator market is still import dependent. However, with the relaxation of lockdown restrictions and the implementation of regulatory measures to stimulate economic activity, the demand for hydrogen generators returned its growth trajectory in the third quarter of 2020.
According to 6Wresearch, India Hydrogen Generator Market revenue size is projected to grow at a CAGR of 11.0% during 2021-2027. Hydrogen gas is regarded as a potential solution to the world's sustainability challenges, India's National Hydrogen Mission aims to reduce carbon emissions by increasing the use of renewable energy sources, aligning India with global practices in terms of technology, policy, and regulations, and intends to produce three-fourths of its hydrogen production from renewable resources by 2050. Furthermore, as the nation moves towards meeting its carbon footprint reduction goals, government and commercial organizations such as Indian Oil, NTPC, Reliance Group, and Adani Group have ambitious plans to adopt hydrogen as the clean fuel solution. Furthermore, Indian Oil Corporation (IOC) is working on a technology to generate hydrogen-spiked compressed natural gas, or H-CNG, to be used as a transportation fuel. Furthermore, government programmes such as the Renewable and Clean Hydrogen Program, Advanced Hydrogen and Fuel Cell Program, and the Fuel Cell Program would promote growth for hydrogen generators in the country.
According to Rishabh Singh Bhandari, Research Associate, 6Wresearch, “In terms of Technology, steam methane reforming hydrogen generator accounted for maximum revenue share in 2020 due to the rise in oil & gas production, petrochemical production. Furthermore, since major application industries such as refineries and petrochemical processing were operational during India's nationwide lockdown, demand for steam methane reforming hydrogen generators remained relatively stable.”
Some of the major companies in India Hydrogen generator market include Praxair India Pvt. Ltd. Inox Air Products Inc., Linde Engineering India Ltd. Pvt., Gastek Engineering Private Limited, Gaztron Engineering Pvt. Ltd., Sam Gas Projects Pvt. Ltd., Nuberg Engineering Ltd, Pvt., MVS Engineering Pvt. Ltd., L’Air Liquide S.A., Honeywell International Inc., Molsieve Designs Limited
“India Hydrogen Generator Market (2021-2027)” report provides an in-depth analysis with 23 figures and 13 tables, covered in 90 pages. The report estimates and forecast the overall India hydrogen generator market by end users. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
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