Green Hydrogen Market
Green Hydrogen Market Size, Share, Competitive Landscape and Trend Analysis Report by Electrolyzer, Source and End User: Global Opportunity and Industry Forecast (2025-2030)
Report ID:
1104
Industry:
Chemicals & Materials
Published on:
Dec 2025
Green Hydrogen Market Summary
Green Hydrogen Market size was valued at USD 8.72 Bn in 2024 and is expected grow to USD 63.50 Bn by 2030, growing at a CAGR of 39.20% during (2025-2030).
Green Hydrogen Industry Trends and Analytical Insights -
Europe Green Hydrogen Market was the largest revenue generating region market in year 2024, with market share accounted for 39.6%
In 2024, By Electrolyzer Type, Alkaline Electrolyzer dominated the Green Hydrogen Market, accounted for 60% market shares.
Leading Key players for Green Hydrogen Market in 2024 was Air Liquide, Linde plc, Air Products & Chemicals and Siemens Energy.
Market Size & Forecast
Market Size 2024: USD 8.72Billion
Projected Market Size 2030: USD 63.50 Billion
CAGR (2024-2030): 39.20%
Europe: Dominated market in 2024
Green Hydrogen Market Overview
During the year 2024, the Global Green Hydrogen Market made a vital move towards real market application. This was mainly influenced by the fast deployment of electrolyzers, large-scale renewable integration, and strategic commitments of governments and industrial players. Globally, more than 180 large-scale green hydrogen projects had announced under development, with the capacity of operational electrolyzers exceeded 1.5–2 GW globally. The diversification of the technology became even more robust as PEM and alkaline systems accounted for most installations while solid oxide solutions were becoming more popular for industrial heat and high-efficiency applications. The formation of corporate partnerships, the conclusion of long-term offtake agreements, and the implementation of cross-border hydrogen corridor initiatives were some of the measures that the Green Hydrogen Industry took to rapidly grow the ecosystem throughout the production, transport, and end-use segments.
Europe Green Hydrogen Market retained its lead globally with more than 120 project announcements and the largest number of government-supported hydrogen hubs, which were facilitated by the strong decarbonization directives. The Asia-Pacific Green Hydrogen Market was a close second and was mainly influenced by Japan, South Korea, China, and Australia, which together accounted for more than 40% of the global planned electrolyzer capacity, and a number of facilities were over 100 MW in scale. North America Green Hydrogen Industry made progress through the implementation of policy-backed clean energy incentives, which led to the emergence of over 30 green hydrogen projects in the areas of mobility, power, and heavy industry. The Middle East Green Hydrogen Market, on the other hand, has been identified as a rapidly expanding cluster, supported by mega-projects in Saudi Arabia and the UAE that aim at multi-gigawatt green ammonia exports.
In 2024, industrial applications were the major contributors to the demand of Green Hydrogen Industry, and refining, ammonia, and methanol sectors were the three main areas that together accounted for more than 60% of the green hydrogen offtake forecasted as a result of their need for high-purity, low-carbon hydrogen. The steel sector went beyond the conventional stages and speeded up the deployment of pilots, with a number of manufacturers experimented with hydrogen-based DRI facilities that were able to cut emissions by as much as 90%. The adoption of mobility grew in the very specific segments, and the number of hydrogen-powered vehicles crossed the 80,000 mark globally, which was made possible by the extension of the fueling infrastructure. Power generation and energy storage programs become more popular on account of hybrid renewable hydrogen systems that provide higher grid stability and make it possible for long-duration storage in areas with a high share of renewables.
This extensive analysis by Jadhavar Business Intelligence Pvt Ltd provides consumers with a complete and actionable picture of the Global Green Hydrogen Market, including market size, share, trends, and growth estimates from 2024 to 2030. It provides a complete overview of important locations and countries by Electrolyzer, Source, and End User. Clients receive comprehensive market dynamics, business tool analysis (PORTER and PESTLE), a Technology roadmap, and regulatory updates. The study also includes country-specific projections, competitive benchmarking, Company profiles, and M&A activity, all of which aid in strategic planning, market entry analysis, and competitor positioning in Green Hydrogen Industry.
Green Hydrogen Market Dynamics
The Green Hydrogen Industry in 2024 was driven by significant structural drivers. Most notably renewable capacity additions went well beyond 500 GW globally, thus creating plentiful cheap electricity for electrolysis. Governments strengthened their support by the implementation of more than 35 national hydrogen roadmaps and by the announcement of incentives worth more than USD 70 billion equivalent that greatly facilitated the bankability of the projects. Industrial decarbonization mandates pushed Green Hydrogen sectors, where hydrogen could reduce process emissions by up to 95%, thus led to the planning of large-scale offtake. Moreover, the electrolyzer manufacturing capacity grew to over 15 GW annually which contributed to a drastic shortening of the equipment lead times and to a strengthening of investor confidence both in the upstream and downstream hydrogen value chains.
In 2024, the Green Hydrogen Market had several notable restraints. One of the major issues was high production costs, as green hydrogen was still 2–3 times more expensive than fossil based alternatives in most regions. A significant infrastructure gap was also a problem since less than 15% of the planned hydrogen pipelines and storage facilities were operational, which limited the possibilities for large-scale offtake. Certainly, a lot of projects were unable to grab the final investment decisions as almost 60% of them were dependent on long-term subsidies or power-purchase guarantee structures. The intermittency of renewables caused utilization issues, as the average electrolyzer load factors were less than 45%, which in turn resulted in postponement of cost parity and the slowed pace of the wide industrial and mobility of Green Hydrogen Industry adoption.
Notable opportunities extended resulting in the announcement of more than 25 GW of new electrolyzer manufacturing capacity, which made it possible to scale up rapidly and reduce costs. As a result, many new projects were planned around the world, most of them focused on the trade of clean fuels across borders. By 2030, innovations in exact efficient solid oxide and AEM electrolyzers made it possible to reduce production costs by 20–30%. Major energy companies and utilities invested in the creation of renewable energy to hydrogen hubs, while governments gave the green light to over 50 pilot projects in the field of hydrogen powered transportation, heating, and storage of energy for a long period of time, thus speeding up the presence of commercialized applications in various sectors.
Expert Insight:
the Green Hydrogen market in 2024 was shifting from project announcements to real commercial execution, but the deeper insight was that competitive strength was now determined by end-to-end integration rather than technology alone. Companies that control renewable sourcing, electrolyzer supply, infrastructure, and long-term offtake were emerging as clear winners. Regionally, while Europe leads today through policy, the long-term advantage is moving toward low-cost solar regions preparing to dominate global export markets. This indicates a market where cost leadership, scale, and strategic partnerships will matter more than individual project pipelines.
Green Hydrogen Market Segmentation
The Green Hydrogen Market is segmented into by Electrolyzer, Source and End User.
By Electrolyzer
Based on Electrolyzer the Green Hydrogen industry is segmented into Proton Exchange Membrane Electrolyzer, Alkaline Electrolyzer, Solid Oxide Electrolyzer and Others. Among this Alkaline Electrolyzer dominated the Green Hydrogen Market accounted for 60 % of total Green Hydrogen Market shares. This dominance was primarily driven by the capital costs were significantly lower, and the operational life was longer. Also, the system was highly suitable for the production of industrial hydrogen at a large scale. Moreover, alkaline systems were enjoying the advantage of a developed supply chain and a higher level of commercial readiness than PEM and solid oxide technologies, which made the rollout quicker, e.g., at refineries, chemical plants, and large-scale green hydrogen projects.
By Source
Based on Source the Green Hydrogen industry is segmented into Solar Energy, Wind Energy and Others (hydropower, geothermal, and hybrid of solar & wind). Among this Solar Energy dominated the Green Hydrogen Market accounted for 55.5 % of total Green Hydrogen Market shares. One of the major factors behind this dominance was the fast growth of the global solar capacity additions backed by a sharp decline in photovoltaic costs and solid project pipelines in sun saturated regions like the Middle East, India, Australia and some parts of Europe. Flexibility of standalone electrolysis powered by solar projects allowed lower levelized electricity costs and higher availability, thus making hydrogen production more competitive than that of wind and other renewable hybrids in Green Hydrogen Market.
Green Hydrogen Market Regional Analysis
Europe Green Hydrogen Market kept its position as the dominated global market in 2024, accounted around 39.6% of the total Green Hydrogen Market Shares. This market dominance was mainly owing to robust policy structures like the EU Hydrogen Strategy, plenty of money provided by IPCEI programs, and simple decarbonization requirements for industrial sectors. Also, Europe was the place with the most operational and construction phase hydrogen hubs, which were supported by mature renewable infrastructure, cross-border pipeline planning, and early commercial offtake agreements in refining, ammonia, steel, and mobility sectors.
Asia Pacific Green Hydrogen Market was the next rapidly growing market largely contributed by substantial government support in China, Japan, South Korea, and Australia Green Hydrogen Industry, with each country progressing multi-hundred MW to GW scale projects. North America Green Hydrogen Market, on the other hand, was able to collect speed owing to tax incentives and clean energy investment commitments, mainly in the U.S. Green Hydrogen Market where the hydrogen production credits were applied. The Middle East Green Hydrogen Market had transformed into a strategic export oriented hub, taking advantage of ultra-low-cost solar resources to build multi-GW green ammonia projects. In the meantime, Latin America and Africa Green Hydrogen Market had started to look as the next cheap producers of energy, both market able with plenty renewable resources and increasing partnerships with European buyers.
Green Hydrogen Market Competitive Landscape
In 2024, the Competitive Landscape of Green Hydrogen Market was primarily driven by a few of long-term, well-funded industrial-gas and utility-type companies that included Ailm Liquide, Linde, and Air Products, as well as big energy and engineering companies such as Siemens Energy, ENGIE, TotalEnergies, Iberdrola, RWE, and Fortescue FFI. Their supremacy was a consequence of the three structural advantages like hydrogen value-chain capabilities (production, purification, logistics, and offtake contracts), superior project finance capacity and the ability to support MW–GW projects with the help of a strong balance-sheet, and customer relationships in refining, chemicals, and heavy industry. In addition, these players were the quickest in moving to integrated offerings (renewable contracts + electrolyzers + storage + offtake), thereby enabling them to have the first-mover advantage for large hubs and cross-border export initiatives.
The rest of the lineup electrolyzer specialists and technology challengers like Nel, ITM Power, Thyssenkrupp Nucera, Cummins/Hydrogenics, McPhy, Green Hydrogen Systems, Enapter, Plug Power, Bloom Energy, Mitsubishi Heavy Industries, Haldor Topsoe were primarily focused on technology differentiation, unit economics and speed to scale. Their advantages were in product innovation (PEM, AEM, SOE variants), modularity for distributed use-cases, and partnership with utilities or project developers. The Green Hydrogen Market subtleties in 2024 were favourable for vertical integration and strategic alliances manufacturers were looking for guaranteed demand through long-term supply deals, while developers were securing low-cost renewables. On the other hand, there were pressures from the competition such as declining electrolyzer prices, supply-chain bottlenecks for critical materials, and margin compression due to commoditization — thus, there was a high demand for proprietary technology, service contracts and rapid capacity growth.
Green Hydrogen Market Scope:
Green Hydrogen Market Key Players –
Linde plc
Siemens Energy
ITM Power
Plug Power
Thyssenkrupp Nucera
Cummins / Hydrogenics
ENGIE
Iberdrola
Fortescue Future Industries (FFI)
TotalEnergies
RWE
McPhy Energy
Green Hydrogen Systems
Enapter
Mitsubishi Heavy Industries (MHI)
Haldor Topsoe
Green Hydrogen Market Frequently Ask Questions –
1) Who are the major Key players of Green Hydrogen Market?
Ans – The major key players of Green Hydrogen Market Are Air Liquide, Linde plc, Air Products & Chemicals, Siemens Energy and Nel ASA.
2) Which Region accounted highest share of the Green Hydrogen Market in 2024?
Ans - Europe region accounted highest share of the Green Hydrogen Market.
3) What was the market size of Green Hydrogen Market in 2024?
Ans - In 2024, market size of the Green Hydrogen Market was USD 8.72 Billion.
4) Which Segment is expected to lead the Green Hydrogen Market during forecast period?
Ans - Electrolyzer Segment was the top segment hold the largest share in Green Hydrogen Market.
5) What will be the market size of Green Hydrogen Market in 2030?
Ans - The market size of Green Hydrogen Market in 2030 will be USD 63.50 Billion.