The green hydrogen market is witnessing significant growth propelled by falling electrolyzer costs, renewable energy sources, and government support. As of 2024, the market was valued at US$ 161.05 billion, with projections to reach US$ 222.15 billion by 2050, growing at a CAGR of 39% during the forecast period 2025–2050. China is taking the lead in electrolyser capacity, with plans to account for 50% of global capacity by 2023. Manufacturers are looking to expand electrolyser manufacturing capacity to 155 gigawatts per year by 2030, with potential annual low-emission hydrogen production expected to reach 38 million tonnes by 2030. Despite promising advancements, challenges such as high production costs, infrastructure limitations, and regulatory uncertainties persist in the market. However, ongoing technological innovations in electrolysis, storage, and transportation are anticipated to address these hurdles. With continued governmental backing and private investments, green hydrogen is positioned to significantly contribute to global decarbonization and the energy transition efforts.