Green Hydrogen Market Size - By Technology (Alkaline, PEM, Solid Oxide), By Source (Solar, Wind), By Application (Power Generation, Transportation, Industry Energy, Industry Feedstock, Building Heat & Power), & Forecast, 2024 – 2032

ACME, Air Products, Air Liquide, CWP Global, Cummins, Engie, Getech Group, GH2, Hiringa Energy Limited, Iberdrola, Lhyfe, Linde, Plug Power, Siemens Energy, Toshiba Energy Systems & Solutions Corporation are some of the major key players operating in the market.

European green hydrogen market is projected to exceed USD 135.4 billion by 2032, on account of the region's strong commitment to decarbonization and its goal of achieving net-zero emissions by 2050.

By 2032, the PEM technology segment is expected to surpass USD 66.5 billion, attributed to its compatibility with renewable energy sources such as wind and solar power.

The wind segment is anticipated to witness more than 50% CAGR through 2032, propelled by its integration with electrolyzer technology, which is crucial for producing green hydrogen and decarbonizing hard-to-abate sectors.

In 2023, the global green hydrogen market was valued at USD 7.7 billion and is projected to grow at a CAGR of 41.6% from 2024 to 2032, driven by government plans and investments in the hydrogen economy.