Delray Beach, FL, July 15, 2025 (GLOBE NEWSWIRE) — The global hydrogen market is experiencing robust growth, driven by rising demand for clean energy solutions and the urgent need to reduce carbon emissions. According to MarketsandMarkets, the hydrogen market was valued at approximately $242.7 billion in 2023 and is projected to reach $410.6 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.8%. This surge is underpinned by significant investments, supportive policies, and technological advancements across production, storage, and end-use sectors.
Governments worldwide are actively enacting favorable regulations and providing financial incentives to accelerate the adoption of hydrogen technologies. These initiatives include funding for research and development, subsidies for hydrogen production and infrastructure, and legislation that encourages the use of hydrogen across various industries. Such supportive measures are key factors driving the growth of the hydrogen market, as they lower barriers to entry, stimulate innovation, and promote large-scale deployment of hydrogen solutions in sectors like transportation, power, and industry.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132975342
List of Key Players in Hydrogen Market:
- Linde plc (Ireland)
- Air products and Chemicals, Inc. (US)
- Air Liquide (France)
- Worthington Industries (US)
- Cryolor (France)
- Hexagon Purus (Norway)
- NPROXX (Netherlands)
Drivers, Opportunities and Challenges:
- Drivers: Increased greenhouse gas emissions regulations
- Restraint: Energy loss during hydrogen production
- Opportunities: Increasing focus on promoting hydrogen economy development
- Challenges: Hydrogen integration into existing natural gas networks
This report segments the Hydrogen Market based on sector into generation type, storage and transportation. Gray hydrogen is expected to hold the largest share of the Hydrogen Market during the forecast period. The growth in the gray Hydrogen Market can be attributed to its low cost and the wide area of its application. However, demand for green hydrogen is on the rise due to the rising focus on the reduce greenhouse gas emissions.
Key Findings of the Study:
- By Application, the mobility is expected to be the fastest growing during the forecast period
- By Type, the grey hydrogen is expected to be the largest segment during the forecast period.
- By Region, North America is expected to dominate the Hydrogen Market during the forecast period.
Get Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=132975342
Based on transportation, the Hydrogen Market is bifurcated into long distance and short distance. Short distance is expected to be the fastest growing market during the forecast period. Long-distance hydrogen transportation is crucial to enabling its widespread adoption and use in many places that may lack local hydrogen manufacturing capabilities. Also, there are investments in new technologies for the long-distance transportation. Recently, composite storage containers with capacity …