Green Hydrogen Market Size, Share, Growth Analysis, By Technology (Alkaline Electrolysis, PEM Electrolysis), By Source, By End-use, By Region -Industry Forecast 2025-2032

Green Hydrogen Market size was valued at USD 8.69 Billion in 2023 and is poised to grow from USD 12.12 Billion in 2024 to USD 124.59 Billion by 2032, growing at a CAGR of 39.5% during the forecast period (2025-2032).

Growing emphasis on sustainability and rising demand for clean energy around the world are forecasted to primarily drive green hydrogen market growth in the future. Advancements in electrolysis technologies and the launch of new electrolyzers around the world are also expected to create new opportunities for green hydrogen companies going forward. Rising demand for renewable energy and increasing investments in the adoption of the same are also expected to bolster green hydrogen market development. High investments in decarbonization and advancements in hydrogen fuel cell technologies will also be major green hydrogen market trends to watch out for going forward. Increasing popularity and demand for hydrogen-powered vehicles around the world owing to rising emphasis on vehicle emission reduction will also bolster market development in the future. Developed countries are projected to spearhead the demand for green hydrogen owing to their high spending potential. Increasing awareness regarding benefits of green hydrogen usage is also expected to create new opportunities for green hydrogen providers in the long run. However, lack of proper infrastructure, availability of alternative clean energy solutions, energy losses in conversion, and high costs of production are estimated to dull the green hydrogen market outlook across the forecast period and beyond.