The global green hydrogen market is poised for strong growth, with a projected market size exceeding USD 188.12 billion by 2034, growing at a CAGR of 35.95% from 2025 to 2034. This significant growth is fueled by the increasing demand for clean energy, supportive government policies, falling renewable costs, and the focus on decarbonization. Green hydrogen, produced through water electrolysis powered by renewable sources like solar and wind energy, is gaining traction due to concerns over carbon emissions and government initiatives promoting hydrogen-based economies. The United States, as an early adopter of clean energy technologies, is paving the way for the transition to sustainable energy solutions. Policies like those outlined in the U.S. Energy Act are emphasizing the shift towards sustainable energy, with a roadmap indicating the potential for hydrogen to meet a considerable portion of the country's energy needs by 2050. Key market drivers include the expansion of green hydrogen beyond fuel cell electric vehicles into alternative fuel production, offering low-carbon solutions for various sectors. Despite the growth potential, high production costs pose a challenge, driven by expensive electrolyzers, renewable energy inputs, and infrastructure limitations. The market presents opportunities through rising government investments globally, aimed at reducing production costs, enhancing market accessibility, and accelerating decarbonization goals. Initiatives like the India-Middle East-Europe Economic Corridor signify significant steps towards a global hydrogen economy. However, high initial investments required for infrastructure development remain a key challenge for manufacturers, hindering widespread adoption. Segmentation insights highlight the dominance of alkaline electrolyzers in the market due to their cost-effectiveness and longer operational life compared to PEM electrolyzers.