Press release
U.S. Green Hydrogen Market to Reach USD 6.99 Billion by 2034 | DataM Intelligence
U.S. Green Hydrogen Market
According to DataM Intelligence, the U.S. Green Hydrogen Market was valued at USD 274.19 million in 2024, grew to USD 379.07 million in 2025, and is projected to soar to USD 6,993.64 million by 2034, expanding at a remarkable CAGR of 38.25% from 2025 to 2034. The rapid market growth is driven by the U.S. government's clean energy transition goals, declining renewable energy costs, and increased adoption of green hydrogen across power generation, transportation, and industrial applications.
Green hydrogen-produced through renewable energy-powered electrolysis of water-serves as a sustainable alternative to fossil-based hydrogen. It plays a key role in reducing greenhouse gas emissions, strengthening energy security, and supporting decarbonization in energy‐intensive industries. North America, led by the U.S., continues to be at the forefront of global hydrogen innovation, particularly across the Gulf Coast and West Coast, where policy incentives and green infrastructure investments are surging.
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Key Highlights from the Report
➤ U.S. green hydrogen market to reach USD 6.99 billion by 2034 at a CAGR of 38.25%.
➤ Alkaline electrolysis held 45% share in 2024 and continues to dominate production technology.
➤ PEM electrolysis to grow at the fastest CAGR through 2034 on account of its high efficiency and compatibility with renewables.
➤ Wind-powered electrolysis accounted for 40% of feedstock share in 2024, offering low-cost production advantages.
➤ Compressed hydrogen storage led the market with roughly 60% share in 2024; liquid pipelines expected to grow fastest.
➤ Industrial hydrogen consumers remained the largest end‐user group with a 50% share in 2024.
Market Segmentation
Production Technology Insights
The alkaline electrolysis segment dominated with a 45% share in 2024 due to its cost‐effectiveness and long operational life. Its compatibility with fluctuating renewable energy inputs and widespread industrial adoption enhances scalability for large‐volume hydrogen generation. Meanwhile, PEM (Proton Exchange Membrane) electrolysis is projected to record the fastest growth over the forecast period. PEM's ability to produce high‐purity hydrogen at elevated pressures makes it ideal for applications in fuel‐cell electric vehicles and energy storage systems.
Feedstock Insights
Wind‐powered electrolysis accounted for approximately 40% of the total share in 2024, supported by strong offshore and onshore wind production and the federal Hydrogen Shot initiative for low‐cost hydrogen scaling. Technological advances in wind turbine design and zero‐carbon objectives continue to fuel this segment. In contrast, solar‐powered electrolysis is set to grow at the fastest CAGR, benefiting from plummeting solar panel costs, emission reduction targets, and grid energy storage expansion.
Storage and Distribution Insights
In 2024, compressed hydrogen storage dominated with approximately 60% market share. Its lower maintenance requirements and cost efficiency make it the preferred choice for power generation and on‐site fuel supply applications. However, the liquid hydrogen and pipeline storage segment is expected to expand rapidly, driven by increasing industrial and transportation applications and government‐funded infrastructure projects.
End‐User Insights
The industrial hydrogen consumers segment held the largest share of about 50% in 2024, enabled by rising demand for hydrogen in refining, chemicals, and fertilizer production. Meanwhile, the utilities and power generation segment is set to register the fastest growth as green hydrogen facilitates energy storage, grid stability, and integration of renewable power sources into national energy systems.
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Regional Insights
West Coast Market Trends
The West Coast dominated the U.S. green hydrogen market with a 35-40% share in 2024. California's rigorous low‐carbon fuel standards and zero‐emission vehicle initiatives are boosting demand for clean fuel alternatives. Abundant solar and hydropower resources and the presence of key players such as Air Products, Plug Power, and Bloom Energy enhance the region's leadership in green hydrogen deployment.
Gulf and Southern Region Trends
The Gulf and South region is growing the fastest, driven by robust industrial infrastructure, wind‐solar hybrid projects, and the use of existing petrochemical pipelines for hydrogen transport. Texas and Louisiana are emerging as green hydrogen hubs thanks to refining expertise and investment in commercial‐scale plants for chemical manufacturing and fertilizer production.
Market Dynamics
Market Drivers:
Rising investment in renewables, decarbonization targets, and public‐private partnerships are accelerating green hydrogen integration across industrial and mobility sectors. The increasing deployment of fuel‐cell electric vehicles and heavy‐transport initiatives adds further growth momentum.
Market Restraints:
The high production and infrastructure costs, including electrolyzers and distribution networks, continue to limit scalability. Additionally, dependence on renewable electricity availability poses challenges to consistent production.
Market Opportunities:
Significant potential exists in large‐scale transport and aviation applications and in AI‐driven process optimization. AI technologies used by companies such as Honeywell are enhancing electrolyzer efficiency, refining catalyst design, and reducing operational costs - paving the way for industrial automation in green hydrogen production.
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Reasons to Buy the Report
✔ Comprehensive analysis of the U.S. green hydrogen market trends and growth outlook.
✔ Insights into key sectors such as industrial decarbonization and energy storage.
✔ Detailed review of electrolyzer technologies and feedstock innovation.
✔ Identification of regional expansion opportunities across West and Gulf Coast markets.
✔ Profiles of major players and strategic developments shaping the competitive landscape.
Frequently Asked Questions (FAQs)
◆ How big is the U.S. green hydrogen market by 2034?
◆ What is the expected CAGR of the U.S. green hydrogen market from 2025 to 2034?
◆ Which technology segment dominates green hydrogen production in the U.S.?
◆ Who are the major players in the U.S. green hydrogen market?
◆ Which regions are expected to record the fastest market growth through 2034?
Company Insights
Air Products and Chemicals, Inc.
Plug Power Inc.
Bloom Energy Corporation
Ballard Power Systems Inc.
Cummins Inc. (Accelera Division)
Linde plc (U.S. Operations)
Nikola Corporation
Shell New Energies
Chevron New Energies
ITM Power (U.S. Partnerships)
Nel ASA
FuelCell Energy Inc.
McPhy Energy
Air Liquide
Siemens Energy
Recent Developments:
- In April 2024, Akna Energy partnered with U.S. Splitwaters to develop a 20‐MW green hydrogen plant with a 3 million‐kilogram annual capacity.
- In March 2024, ABB signed an agreement with Green Hydrogen International to support a major Power‐to‐X project in Texas, producing 280,000 tons of hydrogen annually powered by wind and solar energy.
Conclusion
The U.S. green hydrogen market stands at the center of the nation's clean energy transformation. With escalating investment in sustainable technologies, large‐scale industrial decarbonization, and government funding for renewable integration, the sector is poised for exponential growth. Innovations in electrolyzer efficiency, AI‐enabled optimization, and renewable feedstock sourcing will define the next decade of market evolution, positioning green hydrogen as a cornerstone of America's net‐zero energy future.
Contact Us
Mr. Sai Kiran
DataM Intelligence 4market Research LLP Ground floor
DSL Abacus IT Park, Industrial Development Area
Uppal, Hyderabad, Telangana 500039
USA: +1 877-441-4866
Email: Sai.k@datamintelligence.com
Visit Our Website: https://www.datamintelligence.com
About Us
DataM Intelligence 4Market Research is a comprehensive market intelligence platform offering syndicated and customized reports along with expert consulting across multiple industries, including chemicals, healthcare, agriculture, food & beverages, and more. With extensive experience and a strategy-focused approach, DataM provides businesses and individuals with reliable market insights, statistical forecasts, and personalized research solutions to help them make informed decisions and successfully bring innovations to market.
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