According to a report by Technavio, the global hydrogen generation market is projected to grow by USD 49.7 billion from 2024 to 2028, with a compound annual growth rate (CAGR) exceeding 5.52%. The market growth is attributed to the increasing demand for fertilizers and a trend towards reduced fuel cell prices. Key market players driving this growth include Air Liquide SA, Air Products and Chemicals Inc., and FuelCell Energy Inc. The market is witnessing significant growth due to the focus on reducing Greenhouse Gas (GHG) emissions, particularly Carbon Dioxide (CO2) from Electricity production and Heavy Industry. Companies like Air Liquide are at the forefront of utilizing infrared radiation technology for GHG reduction in hydrogen production. The industrial sector and long-distance transport sectors are major consumers of hydrogen, further driving market demand. Technological advancements in renewable sources like wind and solar power are making hydrogen production cost-effective, leading to increased adoption. Despite challenges such as high GHG emissions from traditional production methods, the market is moving towards net-zero emissions through initiatives like green hydrogen policy and renewable hydrogen production. Pilot projects like SoHyCal in Fresno, California, and Hygenco Green hydrogen stations are showcasing the potential of hydrogen-powered vehicles and fuel cells. The industry remains qualitative and quantitative, with a focus on renewable energy sources and government policies to drive innovation and efficiency.