The green hydrogen market is poised for substantial growth, with projections indicating a 20.9% CAGR through 2031. This growth is attributed to the increasing focus on decarbonization, technological innovations, and the growing demand for clean energy solutions globally. Green hydrogen, produced through the environmentally friendly process of water electrolysis powered by renewable sources like wind, solar, and hydropower, is emerging as a vital player in the transition to a low-carbon economy. Its applications span various sectors, including power generation, transportation, and industrial processes, offering emission-free alternatives and contributing to the achievement of global climate goals. The market faces challenges such as high production costs, infrastructure requirements, and logistical complexities. Overcoming these obstacles necessitates collaborative efforts among policymakers, industry players, and researchers to develop cost-effective technologies and establish supportive regulations. However, the market also presents significant opportunities for advancement. Progress in electrolysis technologies, economies of scale, and increased investments are expected to drive down costs, enhance competitiveness, and promote the integration of green hydrogen into sectors like steel manufacturing and chemical production, fostering emission reductions and sustainable growth. Market segmentation based on technology, renewable sources, applications, end-users, and regions showcases the diverse applicability of green hydrogen across industries and its pivotal role in the global energy transition. Europe stands out as a leading region in green hydrogen adoption, driven by comprehensive policy frameworks, substantial investments, and a strong commitment to carbon neutrality. Meanwhile, North America and Asia-Pacific are also experiencing notable growth, supported by governmental initiatives and rising awareness of green hydrogen's environmental benefits. The article highlights the promising trajectory of the green hydrogen market amidst global decarbonization efforts, signaling a shift towards sustainable and eco-friendly energy solutions.