Green Hydrogen Market Size

Green Hydrogen Market size was valued at USD 4.26 billion in 2024 and is expected to cross USD 2.1 trillion by the end of 2037, expanding at more than 60.6% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of green hydrogen is estimated at USD 6.33 billion.

The growth of the market can be attributed to the growing capacity of electrolyzers which in turn is expected to boost the production of green hydrogen. Installed electrolyzer capacity could reach 134–240 GW by 2030, exceeding forecasts from the previous year by two times. Electrolyser manufacturing capacity has nearly doubled since last year, reaching nearly 8 GW annually. Moreover, by 2030, home consumption is likely to have the largest electrolysis (green hydrogen generation) capacity in the world, at about 60 GW/5 million tons.

In addition to these, factors that are believed to fuel the green hydrogen market growth of green hydrogen include the rising efforts put by the entire world to reduce the emission of greenhouse gases. Around 131 nations representing nearly 88% of global greenhouse gas emissions had made net zero commitments by April 2022. In comparison to pre-industrial levels, anthropogenic emissions have already resulted in an increase in global temperature of 1.1°C. furthermore, the rising need for fuel cell electric vehicle is also expected to boost the demand for green hydrogen. Over 40 000 fuel cell electric vehicles were in use worldwide by June 2021, with nearly 90% of those being found in Korea, the United States, the People's Republic of China, and Japan.