IndexBox's recent report highlights a positive outlook for the global hydrogen market, forecasting a steady expansion in both volume and value from 2024 to 2035. This growth is being primarily fueled by the rising demand for hydrogen across various industries. In 2024, global hydrogen consumption reached 19 billion cubic meters, showing a 2.2% increase from the previous year. Major consumers included China, the United States, and Russia, which collectively accounted for over half of the global consumption. The market size in 2024 contracted slightly to $10.3 billion but is expected to rebound and grow further. Production of hydrogen also saw an increase, reaching 20 billion cubic meters in 2024, with China, the United States, and Russia leading in production volumes. Despite a slight decline in value terms to $10.3 billion, the production trend is expected to remain positive. On the import front, global hydrogen imports spiked to 1.2 billion cubic meters in 2024, with a notable surge in demand observed in 2021. The value of imports, however, decreased to $172 million in 2024. Overall, the data suggests a promising future for the hydrogen market, with a positive sentiment towards continued growth and consumption.