The Business Research Company’s report on the Green Hydrogen Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the green hydrogen market?
The increasing environmental concerns are expected to propel the growth of the green hydrogen market in the forecast period. Green hydrogen is a hydrogen-based fuel that is made by electrolyzing water with electricity supplied by low-carbon sources. It will help in reducing carbon emissions and provide care to our planet. For instance, the International Energy Agency (IEA) aims to bring global energy-related carbon dioxide emissions to net zero by 2050. Fossil fuels are one of the main contributors to poor air quality and they account for 80% of all the energy worldwide. Additionally, IEA estimates that by 2050 around 1.77 million premature deaths will occur due to indoor air pollution, and around 4.97 million premature deaths will occur due to outdoor air pollution. According to the World Health Organization, an estimated 4.2 to 7 million people die from air pollution worldwide every year, and nine out of ten people breathe air that contains high levels of pollutants. Therefore, increasing environmental concerns drive the growth of the green hydrogen market.
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Green Hydrogen Market Report 2025
How has the green hydrogen market size evolved, and what are the latest forecasts for its expansion?
The green hydrogen market size has grown exponentially in recent years. It will grow from $2.46 billion in 2024 to $3.83 billion in 2025 at a compound annual growth rate (CAGR) of 55.4%. The growth in the historic period can be attributed to emerging markets growth, low interest rate environment, high environment impact of conventional power generation sources and increased demand from the chemical industry.
The green hydrogen market size is expected to see exponential growth in the next few years. It will grow to $16.65 billion in 2029 at a compound annual growth rate (CAGR) of 44.4%. The growth in the forecast period can be attributed to faster economic growth, government initiatives, global population growth and urbanization, rising investment for renewable power generation, focus on reducing foreign oil dependence, growing demand from end-use industries and global collaborations for environmental protection. Major trends in the forecast period include implementing AI technology to increase operational efficiency, offering IoT-related advisory solutions to increase operational efficiency, implementing digital twin technology solutions to reduce the risks, implementing smart meters to accurately measure the flow rate and concentration of hydrogen gas, increasing investments to capitalize on the growing demand and focusing on growth strategies and formulate a collaborative approach to grow market share.
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Green Hydrogen Market Report 2025
Which major companies dominate the green hydrogen market?
Major companies operating in the green hydrogen market include Linde, Siemens Energy AG, Air Liquide, Toshiba Energy Systems & Solutions Corporation, Engie, Ballard Power Systems, Cummins Inc., Green Hydrogen Systems, Larsen & Toubro (L&T), Engie Renewables, ATCO Australia, ITOCHU Corporation, Sojitz Corp, Shell, ReNew Power, Sinopec, RES, Octopus, OMV AG, TotalEnergies, Ineos, Axpo, ABB, Enel Green Power, Saras Group, Macquarie Green Investment Group, Hidroelectrica, PKN Orlen SA, Grupa Azoty S.A, Mitsubishi Power, Entergy Corporation, Enapter, Nikola Motors, Plug Power, SGH2 Energy Global LLC, Siemens Gas and Power GmbH & Co. KG, Air Products Canada, Quadrogen Power Systems Inc, Casa dos Ventos, Enegix Energy, Matthes company, Dii Desert Energy, Bluenergy Revolution, Cheranna Energy, HDF Energy
What trends will shape the future of the green building materials market?
Major companies operating in the green hydrogen market are focused on establishing Green Hydrogen Electrolyzer Gigafactory to global efforts in achieving carbon neutrality and sustainable energy systems. A Green Hydrogen Electrolyzer Gigafactory is a large-scale manufacturing facility dedicated to producing electrolyzers, which are essential devices for generating green hydrogen through the process of electrolysis. For instance, in October 2023, according to a report published by Ohmium International launched India’s first Green Hydrogen Electrolyzer Gigafactory. The gigafactory will initially produce 500 MW of Proton Exchange Membrane (PEM) hydrogen electrolyzers per year, with plans to scale up to 2 GW. This facility aims to reduce India’s dependence on imported electrolyzers, facilitating the production of green hydrogen, a zero-carbon fuel applicable across various industries, including fertilizer and steel production. Ohmium’s initiative aligns with India’s goals for clean energy and positions the country as a potential global hub for green hydrogen.
Which region dominates the green hydrogen market, and what factors contribute to its leadership?
Europe was the largest region in the green hydrogen market in 2024. The regions covered in the green hydrogen market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Green Hydrogen Market Report 2025
How is the green hydrogen market segmented, and which segment holds the largest share?
The green hydrogen market covered in this report is segmented –
1) By Technology: Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer
2) By Application: Power Generation, Transport, Other Applications
3) By End User Industry: Petrochemicals, Food And Beverages, Medical, Chemical, Glass, Other End-Use Industries
Subsegments:
1) By Alkaline Electrolyzer: Low-Pressure Alkaline Electrolyzers, High-Pressure Alkaline Electrolyzers
2) By Proton Exchange Membrane Electrolyzer (PEM): Standard PEM Electrolyzers, High-Temperature PEM Electrolyzers
3) By Solid Oxide Electrolyzer: Intermediate Temperature Solid Oxide Electrolyzers, High-Temperature Solid Oxide Electrolyzers
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Green Hydrogen Market Report 2025
How is the green hydrogen market defined, and what are its core characteristics?
Green hydrogen gas is created by dividing water into hydrogen and oxygen using an electrolyzer that can be powered by renewable energy sources. Green hydrogen is environmentally friendly and can be stored and converted back to energy or heat when required.
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