New Delhi, Apr 13 (KNN) India's green hydrogen (H2) electrolysers market is poised for massive growth, with the potential to swell from USD 4 billion in 2030 to USD 78 billion by 2050, according to a new report. 

The report from the High-Level Policy Commission on Getting Asia to Net Zero projects that net zero targets in Asia's four largest economies could drive the combined market potential for green hydrogen electrolysers to USD 180 billion by 2050 across key industrial applications.

Charith Konda, Energy Specialist at the Institute for Energy Economics and Financial Analysis, stated, "Analysis reveals that India's green hydrogen electrolyser market is headed for significant expansion, with a projected 16 per cent compound annual growth rate (CAGR) from USD 4 billion in 2030 to USD 78 billion by 2050."

The report finds that if China, India, Japan, and South Korea adhere to their net zero commitments, the market potential for green H2 electrolysers in these countries could skyrocket, with a 12 per cent CAGR between 2030 and 2040 – nearly five times larger than a business-as-usual scenario.

"These findings underscore how ambitious net zero targets can boost demand for critical decarbonization technologies like electrolysers," said Kate Logan, Associate Director of Climate at the Asia Society Policy Institute.

Amitabh Kant, India's G20 Sherpa, welcomed the report, stating, "India recognises the critical role of green hydrogen as it aims for energy independence by 2047 and net zero by 2070. 

With our vast renewable energy resources, we also have the opportunity to produce green hydrogen for the world."

The growing market presents significant opportunities for investors and policymakers looking to support India's transition to clean energy and decarbonise hard-to-abate sectors like steel and fertilisers.

(KNN Bureau)