India: Hydrogen Market 2024

Hydrogen Market Size in India

The Indian hydrogen market shrank to $X in 2022, waning by X% against the previous year. Overall, consumption showed a significant curtailment. Hydrogen consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Hydrogen Production in India

In value terms, hydrogen production stood at less than $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. Hydrogen production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Hydrogen Exports

Exports from India

In 2022, shipments abroad of hydrogen increased by X% to X cubic meters for the first time since 2017, thus ending a four-year declining trend. In general, exports enjoyed a remarkable increase. The exports peaked at X cubic meters in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, hydrogen exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by X%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nepal (X cubic meters) was the main destination for hydrogen exports from India, with a X% share of total exports. Moreover, hydrogen exports to Nepal exceeded the volume sent to the second major destination, Bangladesh (X cubic meters), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Nepal amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Bhutan (X% per year).

In value terms, the largest markets for hydrogen exported from India were Bangladesh ($X), Nepal ($X) and Bhutan ($X), together comprising X% of total exports.

In terms of the main countries of destination, Nepal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average hydrogen export price stood at $X per cubic meter in 2022, falling by X% against the previous year. Over the period under review, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked at $X per cubic meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bhutan ($X per cubic meter), while the average price for exports to Nepal (less than $X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Hydrogen Imports

Imports into India

Hydrogen imports into India soared to X cubic meters in 2022, with an increase of X% against the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, hydrogen imports soared to $X in 2022. In general, imports recorded a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X cubic meters) was the main hydrogen supplier to India, accounting for a X% share of total imports. Moreover, hydrogen imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X cubic meters), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of hydrogen to India, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average hydrogen import price amounted to $X per cubic meter, which is down by X% against the previous year. Over the period under review, the import price, however, posted resilient growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked at $X per cubic meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per cubic meter), while the price for the United Arab Emirates ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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