The global green hydrogen market size was estimated at USD 7.98 billion in 2024 and is projected to reach USD 60.56 billion by 2030, growing at a CAGR of 38.5% from 2025 to 2030. Green hydrogen is generated through the electrolysis of water, a process that utilizes electricity derived exclusively from renewable sources such as solar and wind energy. This method ensures that the hydrogen produced is clean and sustainable, distinguishing it from conventional hydrogen production methods that rely on fossil fuels.

The increasing adoption of favorable government policies that support the transition toward a hydrogen-based economy, coupled with rising environmental concerns over carbon emissions generated by fossil fuel consumption, are among the primary factors driving demand for green hydrogen. These regulatory and environmental trends are expected to create a favorable environment for market expansion during the forecast period.

In particular, the United States has emerged as a front-runner in embracing clean energy technologies across key sectors such as power generation and transportation. This proactive stance aligns with initiatives under the U.S. Energy Act, which emphasizes clean and sustainable energy development. According to the "Roadmap to a U.S. Hydrogen Economy" report, it is projected that by 2050, hydrogen produced from low-carbon sources could fulfill approximately 14% of the nation’s total energy requirements. This includes applications in hard-to-electrify sectors that currently rely heavily on natural gas, such as high-temperature industrial processes and fertilizer manufacturing. These strategic developments underscore the critical role that green hydrogen is expected to play in the future of energy transition.

Key Market Trends & Insights:

• In 2024, the European green hydrogen market captured a substantial portion of the global revenue, accounting for approximately 47.47% of the total market share. Within this regional market, Germany stands out as a key contributor, holding a prominent position due to its strong emphasis on integrating renewable energy sources and modernizing its energy grid infrastructure. Germany's proactive policies and investments in clean energy technologies have significantly propelled the growth of the green hydrogen market in the country and across Europe.

• When analyzing the market by technology, the alkaline electrolyzer segment dominated, securing the largest revenue share of 65.46% in 2024. This technology remains widely favored due to its maturity, cost-effectiveness, and reliability in producing green hydrogen at scale.

• Looking at the distribution channels, pipelines emerged as the leading method for green hydrogen transportation, accounting for the largest revenue share of 60.66% in 2024. Pipelines provide an efficient and scalable infrastructure solution for delivering hydrogen from production sites to end-users, which supports the expansion of hydrogen usage across various sectors.

• In terms of applications, the transport segment led the market with the largest revenue share of 43.39% in 2024. This reflects the growing adoption of green hydrogen as a clean fuel alternative for vehicles, including fuel cell electric vehicles, buses, trucks, and other forms of transportation, driven by the need to reduce carbon emissions and meet stringent environmental regulations.

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Market Size & Forecast:

• 2024 Market Size: USD 7.98 Billion

• 2030 Projected Market Size: USD 60.56 Billion

• CAGR (2025-2030): 38.5%

• Europe: Largest Market in 2024

Key Companies & Market Share Insights:

The green hydrogen market features a wide range of companies actively involved in driving its growth and expansion across different global regions. Prominent industry leaders such as Siemens Energy AG, Linde PLC, Air Liquide, and Air Products and Chemicals are at the forefront, utilizing their extensive technological know-how and substantial resources to improve green hydrogen production processes and develop robust infrastructure networks. These companies focus on scaling up their capabilities to meet the increasing demand for sustainable hydrogen solutions.

In the Asian market, key players including BP and Orsted are engaging in strategic collaborations and partnerships aimed at initiating and executing large-scale green hydrogen projects. These alliances are crucial in accelerating the adoption of green hydrogen technologies and expanding renewable energy integration across the region.

Meanwhile, in India, companies like Adani Green Energy and Bharat Petroleum are making significant investments in renewable energy assets. Their efforts are concentrated on bolstering the country’s green hydrogen ecosystem, supporting government initiatives, and advancing sustainable energy production to foster the widespread use of green hydrogen.

Key Players

• Air Liquide

• Air Products Inc.

• Bloom Energy

• Cummins Inc.

• Engie

• Linde plc.

• Nel ASA

• Siemens Energy

• Toshiba Energy Systems & Solutions Corporation

• Uniper SE

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Conclusion:

The green hydrogen market is expected to experience rapid growth driven by increasing demand for clean energy solutions and supportive government policies focused on reducing carbon emissions. Advancements in electrolyzer technologies and expanding infrastructure are facilitating greater adoption across various applications, particularly in transportation and industrial sectors. The market is seeing significant investments and strategic collaborations globally, positioning green hydrogen as a key component of the future sustainable energy landscape.