Press release
Global Green Hydrogen Market Projected to Grow at 20.9% CAGR Through 2031, Driven by Clean Energy Transition and Policy Support
Green Hydrogen Market
United States: Recent Industry Developments
✅ In September 2025, The Department of Energy announced $8 billion in funding for regional green hydrogen hubs under the Infrastructure Investment and Jobs Act.
✅ In August 2025, Plug Power commissioned the largest green hydrogen production facility in North America with 100 MW electrolyzer capacity.
✅ In July 2025, A consortium of US energy companies launched the "Green Hydrogen Alliance" to standardize production and distribution protocols.
Japan: Recent Industry Developments
✅ In September 2025, Japan's Ministry of Economy, Trade and Industry unveiled a new national green hydrogen strategy targeting 3 million tons annual production by 2040.
✅ In August 2025, Kawasaki Heavy Industries launched the world's first liquid hydrogen carrier vessel for international green hydrogen transport.
✅ In July 2025, Toshiba and Iwatani Corporation partnered to develop large-scale alkaline water electrolysis systems for green hydrogen production.
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Market Trends & Drivers
The Green Hydrogen Market is driven by global decarbonization initiatives, falling renewable energy costs, and supportive government policies worldwide. Technological advancements in electrolyzer efficiency, scaling up of production facilities, and increasing applications across industrial and transportation sectors are accelerating market growth. The expanding hydrogen refueling infrastructure and growing corporate commitments to carbon neutrality further fuel market expansion.
Competitive Landscape
The market features intense competition among energy companies, industrial gas suppliers, and technology providers.
Air Products and Chemicals, Inc. leads with multiple large-scale green hydrogen projects and global distribution capabilities.
Linde plc advances its portfolio with electrolyzer technologies and industrial applications for green hydrogen.
Siemens Energy AG focuses on integrated renewable energy to hydrogen solutions and power-to-x applications.
Nel ASA specializes in alkaline and PEM electrolyzer manufacturing for green hydrogen production.
ITM Power PLC develops PEM electrolysis systems and partners with renewable energy developers.
Plug Power Inc. provides comprehensive green hydrogen solutions from production to dispensing infrastructure.
Ballard Power Systems advances fuel cell technologies enabling green hydrogen utilization in transportation.
Bloom Energy develops solid oxide electrolyzer technology for efficient green hydrogen production.
McPhy Energy specializes in alkaline electrolysis and hydrogen refueling station solutions.
Engie SA focuses on integrated renewable hydrogen projects and power-to-gas applications.
Segmentation
By Technology (Alkaline Electrolyzer, Proton Exchange Membrane Electrolyzer, Solid Oxide Electrolyzer, Others)
By Renewable Sources (Wind Energy, Solar Energy, Geothermal, Hydropower, Others)
By Application (Power Generation, Transport, Others)
By End-User (Industrial, Mobility, Chemical, Power, Grid Injection, Others)
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Regional Analysis:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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