The global market for advanced materials in hydrogen storage and transport is rapidly expanding, presenting an opportunity exceeding $200 billion.
A new report from ResearchAndMarkets.com highlights India’s strategic position in this burgeoning sector, underscoring its pivotal role in unlocking the future of green energy.
The report, titled “Advanced Material in Hydrogen Storage and Transport—Unlocking a $200B+ Opportunity & India’s Strategic Role,” emphasizes the critical need for efficient and safe hydrogen storage and transportation as the world shifts towards a hydrogen-based economy. Advanced materials are proving key in overcoming existing challenges related to cost, volume, and safety.
India’s National Green Hydrogen Mission, aiming for 5 million tons of green hydrogen production annually by 2030, is a major driver. The nation is strategically integrating hydrogen into key sectors, including refining, fertilizer, steel, and mobility.
Efforts focus on reducing green hydrogen production costs to around $2/kg by 2030, supported by aggressive renewable energy expansion and policy initiatives.
The report also identifies how India can capture a significant portion of a projected $25 billion hydrogen materials opportunity, examining global best practices and localization strategies. It highlights the convergence of public-private capital, innovation ecosystems, and international partnerships as crucial factors defining India’s leadership in this transformative energy landscape.
India’s hydrogen strategy must balance technology maturity, feedstock availability, and infrastructure readiness to realize its green hydrogen ambitions. Aligning cost competitiveness with global benchmarks is essential for India to emerge as a key hydrogen exporter, the research firm said in the report.
