Page 134 - CW E-Magazine (31-10-2023)

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GREEN ENERGY

Market for India made hydrogen equipment and services

to be worth $50-bn by 2030: IH2A

The market for Indian-manufac-
tured hydrogen equipment will be
worth $45-bn to $50-bn by 2030,
according to a recent report by indus-
try body the India Hydrogen Alliance
(IH2A).

This market assessment includes
all hydrogen production plant equip-
ment, including electrolyser and bala-
nce-of-plant (BoP) equipment, that
can be deployed in India, and exported
from India to the Asia, Middle East
and Africa region, building India as
a supply chain hub for future green
hydrogen projects.

According to the report titled
‘Hydrogen Equipment Manufacturing scales and end-use confi gurations, to- estimated $45-billion to $50-billion
and Services’, the market assessment gether with BoP Equipment. equipment market opportunity is
is split 34% for electrolysers stacks, achievable and could turn India into
62% for BoP equipment and 4% for An optimistic view would add an a global supply chain hub in the deve- FOUR POINT SUSPENSION CENTRIFUGE
specialist engineering services. additional 3.4-GW electrolyser capa- loping green hydrogen economy,” she RPM 2800
city, to add an additional $4.5-bn to added. G FORCE : 870
Leveraging competitive advantage the domestic market during the same
The report makes the case for period, added the report. ‘BoP equipment opportunity larger’
India to leverage its competitive According to Mr. Amrit Singh Deo,
advantage on manufacturing and engi- “India has the potential to become Senior Managing Director, FTI Con-
neering design to create a regional a regional supply hub for hydrogen sulting, and IH2A Secretariat lead,
supply chain hub for hydrogen plant production plants. This is a signif- the export market for BoP equipment 43
equipment in the country. It estimates icant opportunity that will require is larger than for electrolyser stacks,
a domestic hydrogen production plant large-scale manufacturing build out and India should focus on being the
equipment market of $9-bn in India, and investments, for electrolyser preferred equipment supplier to all
on a conservative basis – based on stack manufacturing and Balance of key hydrogen projects in the region
135 domestic plants by 2030, deploy- Plant equipment,” said Ms. Jill Evanko, over the next decade. In his view, the
ing 6.8-GW electrolyser capacity, Chief Executive and President, Chart regional hydrogen equipment exports
and producing at least 1-mt of green Industries, and founding member, potential is worth at least $34-bn with
hydrogen to the domestic market for IH2A. locally manufactured electrolysers
industrial use. and BoP equipment exported to 540
Ms. Evanko added project deve- projects across APAC, Middle East
It said the 135 green hydrogen lopers and equipment majors are and Africa region.
projects could vary in scale – rang- waiting to hear from the government
ing from 10-MW, 20-MW, 50-MW to on demand aggregation and secured The report said specialist engineer-
100-MW – using different electroly- offtake for early projects before ing design, EPC and service exports are
ser technologies across different committing large investments. “The worth at least $2-bn.

134 Chemical Weekly October 31, 2023

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