The hydrogen generation market is on a significant growth trajectory, with a forecasted value of $262.0 billion by 2031, showcasing a CAGR of 6.8% from 2022. Currently, hydrogen production primarily relies on fossil fuels, contributing to around 95% of the total output. However, green hydrogen production through electrolysis is gaining prominence as it offers a sustainable alternative with zero carbon emissions. The global push towards decarbonization by 2050 has led to increased focus on green hydrogen generation. The market is further bolstered by the increase in governmental regulations for cleaner fuel sources and the expected surge in global electricity demand. Key market segments include source (blue, gray, green hydrogen), process (steam methane reforming, electrolysis), delivery mode (captive, merchant), and application (chemical processing, transportation, power generation). Asia-Pacific currently dominates the market share, closely followed by North America and Europe. Major players in the industry are actively involved in expansion, partnerships, research, and innovation to capitalize on the growing demand for hydrogen. The positive trajectory of the hydrogen generation market aligns with the global sustainability goals and increasing emphasis on green technologies.