According to a research report “Hydrogen Market by Sector (Generation (Gray, Blue, Green), Storage (Physical, Material), Transportation (Long, Short)), Application (Energy (Power, CHP), Mobility, Chemical & Refinery (Petroleum, Ammonia, Methanol), and Region – Global Forecast to 2030″, the global Hydrogen market is projected to reach USD 312.90 billion by 2030 from USD 225.12 billion in 2025, registering a CAGR of 6.8%.
The Hydrogen market is influenced by the growing desire for clean, efficient, and flexible energy solutions, driven by global carbon neutrality objectives and the need for decarbonizing sectors like transportation and power generation. Hydrogen provides zero-emission energy and is not limited in its efficiency and scalability, which is why they are increasingly viewed as a key source to accelerate the global energy transition. This shifting momentum has resulted in both more and faster investment and construction (of hydrogen production plants), pilot deployments, and infrastructure build. Although consumption of hydrogen is still regional (i.e., Asia Pacific, Europe, and North America), investor momentum, government funding, policies and mandates, hydrogen strategies, and clean energy commitments are transforming the market and attracting hundreds of millions of dollars in capital investment from both the private and public sectors.
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By application, the mobility segment is expected to register the highest CAGR during the forecast period.
Driven by the growing demand for zero-emission transportation and the limitations of battery-electric solutions in heavy-duty, long-range, and high-utilization applications, the mobility segment is rapidly emerging as a key growth area in the hydrogen market. Hydrogen fuel cell vehicles offer quick refueling, extended driving ranges, and high payload capacities, making them ideal for commercial fleets, buses, trucks, trains, and even maritime and aviation use. Countries like Japan, South Korea, Germany, and China are actively promoting hydrogen mobility through national strategies, subsidies, and expanding refueling infrastructure. Major automotive and transportation OEMs are investing heavily in hydrogen-powered platforms, while fleet operators are beginning large-scale trials and deployments. The segment’s scalability, operational efficiency, and alignment with clean transport goals make it a vital component in the future of sustainable mobility.
By generation, the blue hydrogen segment is projected to account for the second-fastest CAGR during the forecast period.
Blue hydrogen is gaining momentum as a transitional solution in the global shift toward low-carbon energy systems. Produced from natural gas through steam methane reforming (SMR) or autothermal reforming (ATR) combined with carbon capture and storage (CCS), blue hydrogen significantly reduces emissions compared to traditional gray hydrogen. It is particularly attractive to countries and industries with existing natural gas infrastructure, offering a near-term pathway to decarbonize heavy industry, refining, and transport while green hydrogen capacity scales up. Ongoing investments, supportive policies, and technological advancements in carbon capture are improving the cost-effectiveness and scalability of blue hydrogen. As a bridge between fossil-based and renewable hydrogen solutions, blue hydrogen plays a critical role in accelerating the energy transition while maintaining energy security and industrial continuity.
By region, North America is accounted for the second-largest market in 2024.
North America is emerging as a key region in the hydrogen market, driven by strong policy support, technological innovation, and expanding clean energy goals. The US is leading the region with landmark initiatives like the Inflation Reduction Act and the Hydrogen Hubs program, which provide significant funding and tax incentives for low-carbon hydrogen production, infrastructure, and end-use applications. Canada is also advancing its national hydrogen strategy, focusing on both blue and green hydrogen to decarbonize sectors such as transportation, heavy industry, and power generation. Private sector investment is accelerating, with major energy, chemical, and mobility companies developing large-scale hydrogen projects and partnerships across the value chain. The region’s abundant natural gas resources, renewable energy potential, and well-developed pipeline infrastructure position it strongly for both domestic deployment and future hydrogen exports.
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The Hydrogen market is dominated by major players with a wide regional presence. Some key players in the market are Linde plc (Ireland), Air Liquide (France), Air Products and Chemicals, Inc. (US), Chart Industries (US), and Shell plc (UK).
