Green Hydrogen Market Size | Global Growth & Forecast 2025

Q: Why is the size of green hydrogen market?

The size of green hydrogen market was predicted at USD 6 billion in 2024 and is projected to reach USD 17.4 billion by 2031.

Q: Which sectors are expected to adopt green hydrogen first?

Steel, ammonia, shipping, and refining sectors are expected to be early adopters due to high emissions and heavy energy demand.

Q: What are the challenges in scaling green hydrogen production?

High production costs, lack of infrastructure, water requirements, and supply chain limitations are key challenges.

Q: How are countries promoting green hydrogen?

Through hydrogen roadmaps, subsidies for electrolyser, public-private R&D, and mandates for industrial decarbonization.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4590

Publication Date: Jun 2025

What is the size of Green Hydrogen Market?

According to 6Wresearch internal database and industry insights, the Global green hydrogen market was valued at approximately USD 6 billion in 2024 and is projected to reach USD 17.4 billion by 2031, growing at a CAGR of 14.6% during the forecast period 2025–2031.

The green hydrogen market is poised to expand as global economies push for decarbonization, energy security, and clean industrial fuels. Government policies, pilot projects, and technological breakthroughs are accelerating development.

Key Growth Factors of the Green Hydrogen Market

Global shift toward carbon neutrality and zero-emission targets
Government-backed incentives, subsidies, and hydrogen missions
Demand from steel, fertilizer, and heavy industry for clean hydrogen
Declining costs of renewable power, especially solar and wind
Investments in electrolyser manufacturing and water-splitting tech
Strategic energy partnerships and intercontinental hydrogen corridors

Green Hydrogen Market Trends

Green hydrogen market is moving forward and emerging as the hydrogen is a key solution for hard-to-abate sectors like steelmaking, maritime transport, and aviation fuel. Over the years, the small business to the large business starting to blend the hydrogen into natural gas grids, scaling electrolyser capacity, and building hydrogen refuelling stations are gaining global traction. Public-private collaborations are forming to commercialize hydrogen ecosystems.

Emerging Developments in the Green Hydrogen Market

There are numbers of development observed in the green hydrogen market, such as ammonia-based hydrogen storage, offshore hydrogen production using wind power, and integration of AI for process optimization. New hydrogen clusters are emerging across the Middle East, Australia, India, and Europe. Investment is increasing in building hydrogen refuelling stations for vehicles and the number of large-scale electrolysers is growing in demand respectively that produce hydrogen from water using renewable energy.