The global green hydrogen market is poised for remarkable growth, set to surge from $6.2 billion in 2023 to an impressive $94 billion by 2033, driven by a robust 31.3% compound annual growth rate. Alkaline electrolyzers are expected to maintain dominance within the market due to their increasing adoption rates. This growth trajectory is fueled by a combination of factors, including government policies worldwide pushing for decarbonization, the escalating demand for green hydrogen in various sectors like power generation, transportation, and green ammonia production, and notable advances in electrolyzer technologies. Key drivers propelling the expansion of the green hydrogen market include government policies and financial incentives aimed at promoting green hydrogen production, technological innovations enhancing the efficiency of electrolyzers and renewable energy storage, growing industrial demand for carbon footprint reduction in industries such as steel, chemical production, and transportation, and the emphasis on energy security and diversification driving investments in green hydrogen infrastructure. Regionally, North America, Europe, Asia-Pacific, and the Middle East & Africa are actively investing in green hydrogen projects, each with specific strategies and goals in place to harness the potential of green hydrogen. Applications of green hydrogen span across diverse industries, including transportation, power generation, industrial processes, and residential and commercial heating. While challenges like high production costs, infrastructure development, and efficiency concerns persist, opportunities for the green hydrogen market include cost reduction through innovation, strategic partnerships among governments, industries, and research institutions, and expansion into new sectors like shipping, aviation, and decentralized energy storage. The future outlook for the green hydrogen market is exceptionally optimistic, with a projected CAGR exceeding 30% over the next decade. As green hydrogen plays a pivotal role in achieving net-zero emission targets and realizing a sustainable future, collaborative efforts from various stakeholders are essential to unleash the full potential of this clean energy source, leading the charge towards a carbon-free world.