Visiongain has published a new report entitled Green Hydrogen Market Report 2025-2035: Forecasts by Storage & Distribution (Pipeline Transportation, Carriers (Ammonia, LOHC, Methanol), Compressed Storage), by Energy Source (Solar Energy, Wind Energy, Others/Various Energies, Undisclosed Sources), by Technology (Proton Exchange Membrane (PEM), Alkaline (ALK) Electrolysis, Anion Exchange Membrane (AEM), Solid Oxide Electrolysis Cell (SOEC), Other), by End-use (Mobility, Industrial Uses, Power Generation, Grid Injection, Chemical Production, Other) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.

The global green hydrogen market is currently estimated at US$2.17 billion in 2025. Visiongain analysts have projected it to grow at a CAGR of 47.3% during the forecast period 2025-2035.

How will this Report Benefit you?

Visiongain’s 380-page report provides 125 tables and 193 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the green hydrogen market, along with detailed segment analysis in the market. Get financial analysis of the overall market and different segments including storage & distribution, energy source, technology, and end-use, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing green hydrogen market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Industrial Decarbonization and the Push for Green Steel & Chemicals

The industrial sector, particularly steel, ammonia, and refining, is under immense pressure to reduce carbon emissions, and green hydrogen is emerging as a viable solution. The steel industry alone contributes around 7-9% of global CO₂ emissions, and initiatives like the Hydrogen Breakthrough Ironmaking Technology (HYBRIT) project in Sweden aim to replace coal-based blast furnaces with hydrogen-based direct reduction technology. Companies such as Thyssenkrupp, ArcelorMittal, and Tata Steel are investing in pilot projects to transition towards hydrogen-based steel production. Similarly, the ammonia industry, responsible for around 2% of global CO₂ emissions, is looking at green hydrogen as a sustainable feedstock for fertilizer production and shipping fuel alternatives like green ammonia.

Expanding Hydrogen Infrastructure and Transportation Networks

The development of hydrogen transport, storage, and refueling infrastructure is critical for enabling large-scale green hydrogen adoption. Countries are investing heavily in hydrogen pipelines, liquid hydrogen carriers, and ammonia transport solutions to facilitate global hydrogen trade. The H2Med pipeline, set to connect Spain, France, Germany, and Portugal, will be the first dedicated hydrogen corridor in the EU, enhancing regional supply chains. Additionally, projects like NEOM’s $8.4 billion green hydrogen plant in Saudi Arabia aim to export hydrogen in the form of ammonia to global markets, particularly Japan and South Korea, where domestic production potential is limited. Investment in hydrogen refueling stations is also growing, with Germany, China, and Japan leading in the number of hydrogen refueling stations for fuel cell electric vehicles (FCEVs).

Where are the Market Opportunities?

Green Hydrogen as an Export Commodity

Countries with abundant renewable energy resources—such as Australia, Chile, Saudi Arabia, and Namibia—are positioning themselves as major green hydrogen exporters. Large-scale projects, including NEOM’s $8.4 billion hydrogen plant in Saudi Arabia, aim to supply hydrogen and ammonia to energy-hungry markets like Europe, Japan, and South Korea. Investments in dedicated hydrogen shipping infrastructure, ammonia transport, and liquefaction technologies will enable global hydrogen trade, creating economic opportunities for resource-rich nations.

Hydrogen in Heavy Transport and Aviation

Hydrogen-powered fuel cell electric vehicles (FCEVs), hydrogen trains, ships, and even aircraft are emerging as viable solutions to decarbonize hard-to-electrify transport sectors. Companies like Hyundai, Toyota, and Daimler are investing in hydrogen trucks, while Airbus is developing zero-emission hydrogen aircraft for commercial use by 2035. Additionally, green ammonia is gaining traction as a low-carbon maritime fuel, with major shipping companies like Maersk and NYK Line exploring ammonia-powered vessels. The development of hydrogen refuelling networks presents a massive infrastructure investment opportunity.

Competitive Landscape

The major players operating in the green hydrogen market are Air Liquide, BP Plc, Linde Plc, Royal Dutch Shell Plc, Cummins Inc., Engie SA, Siemens Energy AG, Toshiba Energy Systems & Solutions Corporation, Wind to Gas Energy Gmbh & Co. Kg, Sinosynergy, Adani Group, Uniper SE, Ørsted A/S, Thyssenkrupp AG, Nel ASA. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Some Recent Developments

• 13-Mar-25, Air Liquide has issued a €500 million green bond to finance low-carbon hydrogen and energy transition projects, reinforcing its ADVANCE strategic plan. This marks the third green bond issuance by the company after successful allocations in 2021 and 2024.

• 13-Mar-25, Ørsted has completed Bahren West I, a 50.4 MW onshore wind farm in Brandenburg, Germany, capable of powering 35,000 households. Construction of Bahren West II (61.6 MW) is set to begin in May 2025, with completion expected in 2027, reinforcing Ørsted’s commitment to Germany’s energy transition.
• 11-Mar-25, Nel ASA has signed an EPC collaboration agreement with SAMSUNG E&A, allowing the South Korean company to offer complete hydrogen plants using Nel’s electrolsers. Additionally, SAMSUNG E&A will acquire a 10% stake in Nel through a direct placement, making it Nel’s largest single shareholder.

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to contactus@visiongain.com or call +44 207 336 6100.