The global hydrogen market is on a growth trajectory, with the market size reaching 98.42 million tons in 2023 and projected to grow at a CAGR of 3.6% to reach 135.31 million tons by 2032. This growth is primarily attributed to the increasing demand for cleaner energy alternatives and the global focus on reducing greenhouse gas emissions. Hydrogen is becoming a key solution in sectors difficult to electrify such as heavy industry, shipping, and aviation. Governments and private sectors are investing in green hydrogen production technologies to reduce the environmental impact of hydrogen production. This shift toward green hydrogen is essential as conventional methods heavily rely on fossil fuels, contributing to significant carbon emissions. The industrial applications of hydrogen are also contributing to market expansion, with its usage in producing essential materials like ammonia and methanol in the chemical industry, as well as in refining crude oil and fuel cell vehicles in the transportation sector. The significant governmental support and partnerships are crucial in advancing hydrogen infrastructure development, which includes the construction of hydrogen refueling stations and pipelines, enabling the large-scale adoption of hydrogen in multiple sectors. While the global market shows promising growth, challenges like scaling up green hydrogen production and reducing costs persist. The high costs associated with green hydrogen production compared to conventional methods are a hurdle, but with ongoing technological advancements and economies of scale, costs are expected to decrease, making green hydrogen more accessible in the future. Overall, the global hydrogen market is poised for robust growth, driven by the demand for sustainable energy solutions and extensive applications across various industries. With strong governmental support, investment in hydrogen infrastructure, and technological innovations, the market is set to become a cornerstone of the global energy transition.