Global Green Hydrogen Market Growth and Trends
Key Ideas
  • The Green Hydrogen market is projected to grow significantly, reaching USD 9,912 Million by 2035 with a CAGR of 59.8% from 2025.
  • Europe leads in green hydrogen investments, with the UK planning a $14.8 billion offshore wind power program for hydrogen production by 2030.
  • The transportation sector holds the highest revenue share due to European automobile giants transitioning their truck fleets to hydrogen by 2040.
  • Key players in the green hydrogen market include Siemens Energy AG, Air Liquide S.A., Plug Power Inc., and others, focusing on renewable energy production.
The Green Hydrogen market has seen substantial growth, valued at USD 790.56 Million in 2024 and projected to reach USD 9,912 Million by 2035, growing at a CAGR of 59.8%. The market surge is attributed to rising demand from sectors like pharmaceuticals. The report assesses market segments, trends, restraints, and key drivers influencing the market. The technology segmentation includes Alkaline and PEM Electrolyzers, with alkaline dominating due to traditional usage and cost-effectiveness. Applications span power generation, transportation, and others, with transportation leading at 41% revenue share in 2021. High growth is expected in the North American and European markets due to clean energy policies. Europe leads in investments, with the UK planning a significant offshore wind power program for hydrogen production. Key players like Siemens Energy, Air Liquide, and others are driving innovation and investments in green hydrogen production. Noteworthy developments include Siemens Gas and Power's agreement with Uniper SE for green hydrogen projects and Siemens Energy and Air Liquide's joint venture for a 30 MW green hydrogen plant in France.
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