Merchant Hydrogen Market Size

Merchant Hydrogen Market size was over USD 91.64 billion in 2023 and is projected to exceed USD 223.54 billion by 2036, growing at over 7.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of merchant hydrogen is assessed at USD 96.85 billion.

The growth of the market can be attributed to the increasing use of hydrogen as a clean fuel, along with other applications of hydrogen. The growing environmental awareness among people, combined with government initiatives to curb the ozone depletion is estimated to boost the market growth. Following the Paris Agreement session of 2019, where 189 countries joined the commitment to reduce carbon emission by 2030, governments of various nations are investing in the achievement of sustainable development goals. This is estimated to boost the market growth.