The research report by Spherical Insights & Consulting highlights the significant growth anticipated in the global green hydrogen market, with a projected increase from USD 716.43 Million in 2022 to USD 59,987.38 Million by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 55.7%. The report delves into the factors propelling this growth, including the increasing demand for clean energy globally, supported by favorable government policies and investments, especially in regions like the EU, U.S., India, Japan, and Australia. The research outlines how green hydrogen, produced through electrolysis using renewable energy sources, is being recognized as a sustainable and clean energy alternative with applications in various sectors, facilitating decarbonization efforts. The report emphasizes the role of technological advancements, such as improvements in electrolyzer efficiency and declining renewable energy costs, in making green hydrogen economically viable. Furthermore, the study highlights the dominance of alkaline electrolysis technology in driving market growth due to its established technology, adaptability to intermittent renewable energy sources, and suitability for large-scale hydrogen production. It notes that the electricity sector leads in end-use segments, with the power industry utilizing green hydrogen due to investments in renewable power sources. The article also profiles key players in the market, such as Siemens Energy, Nel ASA, and Linde PLC, and discusses challenges like high production costs, infrastructure limitations, energy losses, and electrolyzer scalability issues that can hinder the market's progress. The report sets research objectives to analyze market size and growth, identify key drivers and restraints, and explores recent developments like the Siemens Energy and Air Liquide S.A. cooperation to advance a sustainable hydrogen economy in Europe.