A new report released recently highlights India’s potential to lead the fastest-growing market for hydrogen electrolysers by 2050, aiming to achieve net-zero emissions.
According to the report, India is projected to experience the highest growth rate in the expanding market for green hydrogen (H2) electrolysers in Asia, followed by China, Japan, and South Korea.
The report indicates a collective $180 billion opportunity for hydrogen electrolysers in key Asian markets by 2050. It was unveiled at an event held on April 12 in New Delhi, India.
China’s market potential is expected to increase significantly from $22 billion in 2030 to $85 billion by 2050. Meanwhile, India’s market is forecast to reach $78 billion from $4 billion in 2030, representing the highest growth rate. Japan’s market potential is anticipated to grow to $9 billion, and South Korea’s to $8 billion by 2050, both with a compound annual growth rate of 10%.
This growth is driven by increased production targets under net-zero commitments, government policies, investments in renewable infrastructure, and technological advancements.
Tags: Green Hydrogen, Hydrogen, India
Recent Posts
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India
Hutchison Ports BEST receives Lean and Green award for outstanding emissions reduction
India ranks 10th in list of 60 countries assessed for efforts to fight climate change: Report
SECI to collaborate with H2Global for green hydrogen
Maersk completes first large container vessel conversion to dual-fuel