The India Hydrogen Alliance (IH2A) estimates the addressable market for Indian-manufactured hydrogen equipment could reach $45-50bn by 2030.
Including all hydrogen production plant equipment such as electrolysers and balance of plant, the IH2A’s Hydrogen Equipment Manufacturing and Services report’s market assessment suggests India could produce equipment for domestic deployment and export to Asia, the Middle East and Africa.
The Alliance estimates a split in the addressable market with 34% belonging to electrolyser stacks, 62% for balance of plant equipment and 4% for specialist engineering services.
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