India Electrolyzer Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 6.70% (2025-2033)
Demand for green hydrogen is experiencing a swift rise in India. Strong government efforts and clean energy targets fuel this growth. This momentum has led to rapid advancements and investments in Electrolyzer technologies. According to the latest report by IMARC Group, the India electrolyzer market size reached USD 49.00 million in 2024. Looking forward, IMARC Group expects the market to reach USD 93.80 million by 2033, exhibiting a growth rate (CAGR) of 6.70% during 2025-2033.
Download a sample copy of the Report: https://www.imarcgroup.com/india-electrolyzer-market/requestsample
India Electrolyzer Trends and Drivers:
The India electrolyzer market is growing fast. This growth comes from the country's green energy goals. Also, there are rising investments in hydrogen production. Electrolyzers split water into hydrogen and oxygen using electricity. They are crucial for producing green hydrogen. This process helps reduce carbon emissions in industries like refining, fertilizers, and transportation. The Indian government launched the National Green Hydrogen Mission in 2023. Its goal is to make India a global hub for green hydrogen. The target is to produce 5 million metric tons annually by 2030. This initiative has raised the need for electrolyzers. As a result, companies at home and abroad are increasing production. Tech advances, like improved efficiency in PEM and alkaline electrolyzers, are speeding up adoption. High capital costs and the need for reliable renewable energy are still challenges. The market is ready for quick growth. This results from strong policies, lower renewable energy costs, and more industries seeking sustainable options.
Another trend in the India electrolyzer market is the rise of public-private partnerships. These collaborations aim to boost production and reduce costs. Reliance Industries, Adani Group, and Larsen & Toubro are putting a lot of money into electrolyzers and green hydrogen projects. They often partner with global technology providers for expertise. For example, Reliance works with Stiesdal A/S to develop low-cost electrolyzers. Adani collaborates with France's TotalEnergies for large-scale green hydrogen ecosystems. The government provides incentives to boost domestic manufacturing. These include production-linked incentives (PLIs) and subsidies. This reduces reliance on imports. The market is moving toward large electrolyzer projects. This shift is due to economies of scale and the rising demand. As renewable energy grows, especially solar and wind, the price of green hydrogen will fall. This makes electrolyzers more useful. India is set to lead the global green hydrogen economy. Investors and innovators are eager to take advantage of this opportunity.
We explore the factors propelling the India electrolyzer market growth, including technological advancements, consumer behaviors, and regulatory changes.
India Electrolyzer Industry Segmentation:
The report has segmented the market into the following categories:
Product Insights:
- Alkaline Electrolyzer
- PEM Electrolyzer
- Solid Oxide Electrolyzer
Capacity Insights:
- Less than 500 kW
- 500 kW to 2 MW
- Above 2 MW
Application Insights:
- Power Generation
- Transportation
- Industry Energy
- Industry Feedstock
- Building Heat and Power
- Others
Regional Insights:
- North India
- South India
- East India
- West India
Competitive Landscape:
The competitive landscape of the industry has also been examined, along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current, and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
Street: Morgan Park QLD 4370
City/Town: Warwick
State/Province/Region: Queensland
Country: Australia
Zip/Postal Code: 4370
Email: sales@imarcgroup.com
Phone Number: +1-631-791-1145