The green hydrogen market is experiencing rapid growth, set to reach $19.2 billion by 2032 with a CAGR of 45.6%. This surge is attributed to the increasing demand for green hydrogen in fuel cell electric vehicles (FCEVs), chemical production, and industrial decarbonization efforts. Market drivers include the adoption of FCEVs, AI-optimized systems, and gigawatt-scale electrolysis projects. The sector offers growth opportunities through investments in advanced electrolysis technologies and the adoption of green hydrogen in hard-to-abate industrial sectors. The market faces challenges such as high production costs and complex storage infrastructure, hindering widespread adoption. Segmented by generation process, energy source, application, end user, and geography, the proton exchange membrane electrolysis and hybrid renewable systems segments are expected to drive significant growth. Despite challenges, the industrial process decarbonization and maritime shipping segments are projected to register high growth rates due to the less environmental impact and government initiatives favoring clean solutions. Geographically, North America leads the market, but Asia-Pacific is set to exhibit the highest growth rate due to ambitious hydrogen strategies in countries like China, Japan, India, and Australia.