Hydrogen Generation Market Size

Hydrogen Generation Market size was over USD 172.42 billion in 2024 and is poised to exceed USD 574.48 billion by 2037, growing at over 9.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of hydrogen generation is evaluated at USD 186.64 billion.

The growth of the market can be attributed to the increasing demand for green energy resources, high requirement to balance demand and supply in the power sector, and the growing need for long term power storage across the world. Along with these, high emissions of greenhouse gases are also expected to drive market growth in the coming years. Greenhouse gases are responsible for rising temperatures globally. Hydrogen is assessed to play a crucial role in facing climate emergency as renewable and nuclear electricity alone will never be able to provide all our energy needs, which in turn is projected to be a major factor to lead to market expansion in the near future.