Global Green Hydrogen Market Report: Unveiling Opportunities for Growth
Key Ideas
- The global green hydrogen market is projected to reach US$ 71.31 billion by 2031, with a CAGR of 37.8% from 2025 to 2031, driven by increasing demand in the energy and transportation sectors.
- Countries like Australia, the European Union, and India are making significant investments in green hydrogen infrastructure, aiming to position themselves as leaders in green hydrogen production and export.
- The growing demand for Fuel Cell Electric Vehicles (FCEVs) is fueling strategic collaborations and agreements among market players to meet the need for clean and efficient transportation options.
- Establishment of large-scale green hydrogen plants, attracting substantial investment, is driving the development of specialized infrastructure and creating growth opportunities for market players globally.
A comprehensive report by The Insight Partners highlights the significant growth of the global green hydrogen market, valued at US$ 8.38 billion in 2024 and projected to reach US$ 71.31 billion by 2031 with a CAGR of 37.8% during 2025-2031. The report emphasizes the increasing attention and investments in green hydrogen infrastructure, particularly in countries like Australia, the European Union, and India. For instance, Australia aims to be a leading hydrogen exporter by 2030, while India plans to produce 5 million metric tons of green hydrogen annually by 2030 through its National Green Hydrogen (NGH) Mission.
The surge in demand for Fuel Cell Electric Vehicles (FCEVs) is driving market players to engage in alliances and collaborations to enhance their offerings. Companies like Reblko and Toyota Motor North America are entering supply agreements to meet the growing FCEV demands. Additionally, the establishment of large-scale green hydrogen plants, such as the project in Queensland, Australia, involving several companies, is paving the way for increased infrastructure development and distribution networks.
Geographically, North America led the green hydrogen market in 2024, followed by Europe and Asia Pacific. Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period. The market is segmented based on products like suction machine, jetting machine, and combi units, with the suction machine segment dominating in 2024. Tanker capacity also plays a role in market segmentation, with tanks greater than 1300 gallons dominating in 2024.
Key players in the industry include Air Liquide, Siemens Energy, Cummins Inc., Linde Plc, NEL ASA, and more. Some trending topics related to the green hydrogen market are Solar Energy Market, Wind Energy Market, and Hydrogen Market. The article concludes that the green hydrogen market holds immense growth potential, driven by global investments and the increasing focus on sustainable energy sources.
Topics
Green Hydrogen
Renewable Energy
Investment
Market Analysis
Infrastructure Development
Fuel Cell Vehicles
Strategic Alliances
Global Market Growth
Geographical Insights
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