The global hydrogen generation market is set to grow significantly, with a projected revenue of $204.0 billion by 2031 and a Compound Annual Growth Rate (CAGR) of 8.4% from 2024 to 2031. The market involves utilizing diverse sources such as fossil fuels, water, nuclear power, solar energy, and biomass to produce hydrogen. Various processes like electrolysis, thermochemical reactions, biological methods, and pressure swing adsorption are employed for hydrogen generation. Hydrogen types are color-coded as gray, green, and blue based on the production methods. The market's growth is primarily fueled by the increasing demand for hydrogen in the chemicals industry and the surge in government initiatives to transition to clean energy sources. However, challenges like the high capital cost of hydrogen storage and the lack of secure hydrogen transport and storage infrastructure hinder market growth. Despite these challenges, opportunities exist in the development of green hydrogen production technologies and the rising use of hydrogen in Fuel Cell Electric Vehicles (FCEVs). The hydrogen generation market is segmented by type, process, source, application, and geography. The market is led by Asia-Pacific, with applications in industries like ammonia production, E-mobility, power generation, and more. The market segments include gray hydrogen, blue hydrogen, green hydrogen, fossil fuels, nuclear, water, solar, biomass, and various applications like ammonia production, petroleum refineries, and E-mobility. Overall, the global hydrogen generation market shows positive growth potential with a focus on clean energy transition, green technologies, and diverse applications across industries.