Domestic Hydrogen Equipment market to touch USD 50 billion by 2030

India Hydrogen Alliance (IH2A), a trade group, predicted that the domestic market for hydrogen equipment manufacture and services will reach USD 45–50 billion by 2030. IH2A, this market estimate comprises all the equipment for hydrogen production plants, including the electrolyser and balance-of-plant equipment, that may be installed in India and sold from there to nations in Asia, the Middle East, and Africa.

According to them, this will support India's development as a supply chain hub for upcoming green hydrogen projects. "IH2A estimates a USD 45-50 billion Indian hydrogen equipment manufacturing and services market by 2030". Over the next seven years, the industry organisation also expects the regional market for equipment and services to reach USD 36 billion, while the domestic equipment market will reach USD 9 to USD 13.5 billion.

Electrolysers stacks will account for 34% of the USD 45–50 billion, rest of plant equipment for 62%, and specialised engineering services for 4%. According to IH2A founding member and Chart Industries Chief Executive and President Jill Evanko, "India has the potential to become a regional supply hub for hydrogen production plants, playing to its competitive position in engineering design, manufacturing, and services".

"This is a significant opportunity that will require large-scale manufacturing build out and investments, for electrolyser stack manufacturing and balance of plant equipment such as compressors, storage tanks, transformers, rectifiers, air separation units, and hydrogen pipeline infrastructure", Evanko stated.

Before making significant capital expenditures, project developers and equipment manufacturers are awaiting word from the government regarding demand aggregation and secured offtake for early projects. Evanko, India could become a major hub for the global supply chain in the emerging green hydrogen economy by taking advantage of the estimated USD 45–50 billion equipment market opportunity.