Hydrogen Market Forecast Highlights Robust Growth Through 2030

The global hydrogen market is projected to reach USD 312.90 billion by 2030 from USD 225.12 billion in 2025, registering a CAGR of 6.8%. The hydrogen market is on a growth trajectory driven by the increasing trend of switching to low-emission and sustainable energy solutions for transportation, power generation, and industrial uses.
According to MarketsandMarkets, the hydrogen market [https://www.marketsandmarkets.com/Market-Reports/hydrogen-market-132975342.html] size is projected to reach USD 312.90 billion by 2030 from USD 225.12 billion in 2025, registering a CAGR of 6.8%. The rapid evolution of hydrogen technologies has significantly reshaped the landscape of hydrogen generation, storage, and transportation across global energy markets. Growing focus on production efficiency, storage safety, and transport scalability is driving the development of advanced electrolyzers, high-capacity storage solutions, and versatile carriers such as ammonia and liquid hydrogen. Digital integration, modular system design, and improved thermal and pressure management enhance the reliability and flexibility across industrial, mobility, and power sectors. Government initiatives, funding mechanisms, and cross-border public-private collaborations are accelerating infrastructure buildout, supported by decarbonization policies and energy transition goals. Collectively, these factors are driving a continuous growth trajectory for the hydrogen market and embedding hydrogen as a key enabler of a global energy transition to achieve net-zero and clean power objectives worldwide.

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The hydrogen market is expanding as global hydrogen production projects accelerate, and nations prioritize clean energy alternatives. Growing commitment to deep decarbonization positions hydrogen as a core component of low-emission energy systems across sectors. Increased investments in electrolyzer manufacturing, storage infrastructure, and carrier technologies enable the US, Europe, and Asia Pacific to emerge as major hydrogen generation and distribution hubs. The geopolitical emphasis on energy security and diversification further elevates hydrogen's role in reducing reliance on fossil fuels. Supportive policies like the US Inflation Reduction Act and Europe's Hydrogen Strategy drive rapid deployment, reinforcing hydrogen's place in national energy agendas. Together, these factors advance hydrogen as a scalable, resilient solution in the global transition toward a net-zero future.

By generation type, the green hydrogen segment is projected to register the highest CAGR during the forecast period. The green hydrogen segment leads the market by Generation type, playing a central role in global clean energy strategies across industrial, mobility, and power applications. Its appeal lies in the ability to produce hydrogen from renewable sources with zero emissions, aligning directly with decarbonization goals. The segment benefits from expanding renewable energy capacity, which feeds electrolysis-based hydrogen production, as well as from increasing integration with energy storage and grid-balancing systems. Supportive policies, funding mechanisms, and carbon-reduction mandates accelerate project deployment, while R&D efforts focus on improving electrolyzer efficiency, scaling production, and reducing system costs. Together, these developments are driving widespread adoption and establishing green hydrogen as a cornerstone of the sustainable energy transition.

By transportation, the short distance segment continues to be the dominant segment within the market. Riding on a wave of increased demand for flexible and decentralized clean energy alternatives, the short-distance transportation segment has gained strong momentum as hydrogen is increasingly used in localized mobility and logistics applications. In 2023, adoption surged in regions like Asia-Pacific, Europe, and North America, where hydrogen-powered vehicles were deployed for urban transit, last-mile delivery, industrial fleets, and material handling. This segment benefits from faster refueling times, compact fueling infrastructure, and lower emissions compared to conventional fuels-making it ideal for city centers, ports, and logistics hubs. Advancements in fuel cell efficiency, fleet electrification targets, and hydrogen refueling station rollouts further support the growth. With its operational flexibility, reduced carbon footprint, and alignment with urban clean air policies, the short-distance segment is emerging as a critical enabler of sustainable transport strategies.

Hydrogen Market Companies

Major players in the hydrogen market report include Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Chart Industries (US), and Shell plc (UK). These companies have a strong, diversified product portfolio and a strong global presence.

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With operations worldwide, these players leverage their R&D capabilities and a wide range of solutions and services to gain market share. Their focus on partnership, acquisitions, collaborations, Joint ventures, agreements, and contracts with end users like chemical & refinery, Mobility, and Energy, aiming to enhance the business portfolio and drive the development of new technologies and geographic reach.

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