India's Hydrogen Fuel Cell Revolution: CSL Launches First Ferry as Nation Aims for Net-Zero by 2070

Vantage Market Research

Mar 11, 2024

India's stride towards a sustainable future took a significant leap as Prime Minister Narendra Modi virtually launched CSL's hydrogen fuel cell ferry from Thoothukudi. The nation's commitment to achieving net-zero emissions by 2070 is underscored by such initiatives. Following the announcement of India's first hydrogen fuel cell ferry, Cochin Shipyard saw a sharp rise in its share price, reflecting investor optimism.

Technological developments in hydrogen fuel cell technology are a paradigm shift for sustainability solutions. Unlike conventional batteries, hydrogen fuel cells power electric vessels by converting stored hydrogen into electricity, emitting only pure water as a byproduct. Recognizing the potential of hydrogen fuel, leading central public sector undertakings (PSUs) are actively investing in this space. Cochin Shipyard's foray into hydrogen fuel cell ferries aligns with the broader shift towards sustainable energy.

Moreover, collaborations between PSUs signify a concerted effort towards advancing green hydrogen technology. Fertilisers and Chemicals Travancore Ltd (FACT) plans to establish a green hydrogen plant in Kochi in partnership with Oil India Ltd. Similarly, Cochin International Airport Ltd (CIAL) has inked an agreement with Bharat Petroleum Corporation Ltd (BPCL) to explore opportunities in green hydrogen derivatives.

India's journey towards embracing hydrogen fuel extends beyond maritime transport. Minister of Petroleum and Natural Gas, Hardeep Singh Puri, flagged off India's first Green Hydrogen fuel cell bus in Delhi, signaling the government's commitment to cleaner mobility solutions. Tata Motors further reinforces this commitment by delivering Hydrogen Fuel Cell powered buses to Indian Oil Corporation Ltd, marking a significant milestone in India's green mobility revolution.

Analysts at Vantage Market Research project a promising future for the Indian Hydrogen Fuel Cell Market, with significant growth potential. India is in a position to play an important role in meeting this demand as the world's need for hydrogen rises. Minister Puri anticipates a fourfold increase in domestic demand for hydrogen by 2050, with PSUs projected to produce around 1 MMTPA of green hydrogen by 2030.

In conclusion, India's hydrogen fuel cell sector is witnessing rapid expansion and innovation, driven by government initiatives and strategic collaborations. With a clear focus on sustainability and decarbonization, the Indian Hydrogen Fuel Cell Market is on track to reshape the country's energy landscape and contribute to global efforts in combating climate change. 

Hydrogen Fuel Cell Market Size, Share & Trends Analysis Report by Type (Proton Exchange Membrane Fuel cells, Phosphoric Acid Fuel Cells, Solid Oxide Fuel Cells, Polymer Exchange Membrane fuel Cells (PEMFC), Direct Methanol Fuel Cells (DMFC), Molten Carbonate Fuel Cells, Other Types) by Application (Stationary, Transportation, Portable) by End User (Fuel Cell Vehicles, Utilities, Defense) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)