Global hydrogen demand

 Global hydrogen demand is expected to increase in the coming years, with India playing a significant role in the global hydrogen ecosystem: 

Global demand

Global hydrogen demand is expected to reach 100 million metric tons (Mt) in 2024, and over 150 Mt by 2030. Demand is expected to be concentrated in the refining and industrial sectors, but new applications like transport and power are expected to grow. 

India's demand

India's hydrogen demand is expected to increase significantly, reaching 12 million metric tons per annum (mmtpa) by 2030. India is already the third largest consumer and producer of hydrogen in the world, after China and the United States. 

India's role in the global hydrogen ecosystem

India's green hydrogen ecosystem could support global decarbonization objectives and meet the rising demand for green hydrogen internationally. India has ambitious targets to become energy independent by 2047 and achieve its vision of "Atmanirbhar Bharat" (self-reliant India). 

Here are some other factors to consider:

Transportation

Hydrogen transportation is expensive, so supply needs to be close to demand centers. Liquid hydrogen may become more viable than gaseous hydrogen for long distances.

Green hydrogen

The cost of green hydrogen depends on fossil fuel prices, carbon prices, and the cost of electrolyzers.

Renewable energy

India will need to add 125 gigawatts (GW) of renewable energy capacity to meet its 2030 target of 5 million tonnes per annum of green hydrogen production.