Green Hydrogen - Worldwide

The global green hydrogen market size accounted for USD 1,792 million in 2024 and is expected to exceed around USD 47,481 million by 2034, growing at a CAGR of 38.78% from 2024 to 2034.

Green hydrogen is considered as the safest and environmental friendly gas that produced by the wind energy. Green hydrogen production is the most environmentally friendly that does not emit carbon into the environment while producing. The incorporation of green hydrogen into the various industrial usage and the use of green hydrogen into the automotive industry and their applications such as the use of green hydrogen in the mining vehicles, aircraft, lorries, trains, buses, and maritime transport is accelerating the growth of the green hydrogen market.  

The rising awareness about environmental safety and efforts for reducing carbon emissions is accelerating the adoption of the fuel cell electric vehicles (FCEVs). The rising awareness among population and the government subsidies over buying the fuel cell electric vehicles or hybrid vehicles for reducing the carbon emission is collectively driving the growth of the market. While high cost of production of green hydrogen is limiting the hindering the growth of the market. The rising market competition in the fuel cell electric vehicles and the entrants of new players with advanced technologies are driving the opportunity for the market’s growth.