Green Hydrogen Market Report 2026

The green hydrogen market size has grown exponentially in recent years. It will grow from $3.8 billion in 2025 to $5.52 billion in 2026 at a compound annual growth rate (CAGR) of 45.3%. The growth in the historic period can be attributed to growth in renewable energy capacity, rising demand for clean fuel alternatives, government incentives for green hydrogen projects, technological improvements in electrolyzers, increasing focus on decarbonization in industrial sectors.

The green hydrogen market size is expected to see exponential growth in the next few years. It will grow to $22.66 billion in 2030 at a compound annual growth rate (CAGR) of 42.4%. The growth in the forecast period can be attributed to expansion of hydrogen-based transportation solutions, increasing adoption in power generation applications, investments in large-scale green hydrogen infrastructure, development of high-efficiency electrolyzers, emergence of international green hydrogen trade and partnerships. Major trends in the forecast period include expansion of electrolyzer deployment for renewable hydrogen production, integration of ai for hydrogen production optimization, adoption of smart monitoring and control systems for electrolyzers, implementation of predictive maintenance solutions for hydrogen plants, development of data-driven hydrogen energy management solutions.

The rising level of environmental concerns is expected to drive the growth of the green hydrogen market in the coming years. Environmental concerns encompass challenges related to pollution, climate change, resource depletion, and ecosystem degradation that require sustained action to protect and preserve the natural environment. These concerns are intensifying primarily due to increasing pollution levels, which degrade air, water, and soil quality, disrupt ecosystems, and pose significant risks to human health. Green hydrogen addresses these challenges by offering a clean, renewable energy source that produces zero carbon emissions, thereby reducing air pollution and helping to mitigate climate change. For example, in May 2025, the United States Environmental Protection Agency (EPA), a US-based government agency, reported that approximately 66 million tons of pollutants were released into the atmosphere in the United States in 2023. Consequently, escalating environmental concerns are a key factor driving the expansion of the green hydrogen market.

Major companies in the green hydrogen market are increasingly focused on establishing Green Hydrogen Electrolyzer Gigafactories to support global efforts in achieving carbon neutrality and sustainable energy systems. A Green Hydrogen Electrolyzer Gigafactory is a large-scale manufacturing facility dedicated to producing electrolyzers, which are essential for generating green hydrogen through electrolysis. For instance, in October 2023, Ohmium International announced the launch of India’s first Green Hydrogen Electrolyzer Gigafactory. This facility will initially produce 500 MW of Proton Exchange Membrane (PEM) hydrogen electrolyzers per year, with plans to scale up production to 2 GW. The gigafactory aims to reduce India's dependence on imported electrolyzers and facilitate the production of green hydrogen, a zero-carbon fuel applicable across various industries, including fertilizer and steel production.

In November 2024, ANDRITZ AG, a U.S.-based international technology company, acquired a 13.8% stake in HydrogenPro AS for an undisclosed amount. This acquisition aims to enhance ANDRITZ AG's capabilities in the green hydrogen sector by integrating HydrogenPro AS's advanced electrolyzer technology into its portfolio. This move will strengthen ANDRITZ AG's position as a leading provider of engineering, procurement, and construction (EPC) services for green hydrogen production, addressing the growing demand for renewable energy solutions. HydrogenPro AS is a Norway-based company specializing in green hydrogen.

Major companies operating in the green hydrogen market are Linde, Siemens Energy AG, Air Liquide, Toshiba Energy Systems & Solutions Corporation, Engie, Cummins Inc., Green Hydrogen Systems, Engie Renewables, Shell, ReNew Power, RES, TotalEnergies, Axpo, Enel Green Power, Enapter, Plug Power, SGH2 Energy Global LLC, Air Products Canada, Quadrogen Power Systems Inc, Casa dos Ventos, Enegix Energy, HDF Energy.

Europe was the largest region in the green hydrogen market in 2025. The regions covered in the green hydrogen market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the green hydrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The green hydrogen market consists of sales of various electrolyzers such as atmospheric alkaline electrolyzers and pressurized alkaline electrolyzers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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