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Energy industries

Hydrogen Market Forecast Highlights Robust Growth Through 2030

Strategic Insights

— 1 min read

The global hydrogen market is experiencing a rapid growth trajectory, driven by increasing demand for low-emission and sustainable energy solutions. According to a recent report by MarketsandMarkets, the 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%. This growth is attributed to the rapid evolution of hydrogen technologies, government initiatives, and cross-border public-private collaborations.

Key Takeaways:

  • The hydrogen market is expected to reach USD 312.90 billion by 2030, growing at a CAGR of 6.8% from 2025.
  • Green hydrogen is projected to register the highest CAGR during the forecast period, driven by its appeal in producing hydrogen from renewable sources with zero emissions.
  • The short-distance transportation segment continues to be the dominant segment within the market, driven by increased demand for flexible and decentralized clean energy alternatives.
  • Major players in the hydrogen market include Linde plc, Air Liquide, Air Products and Chemicals, Inc., Chart Industries, and Shell plc, with a strong global presence and diversified product portfolios.
  • These companies are focusing on partnership, acquisition, collaborations, joint ventures, agreements, and contracts with end-users to enhance their business portfolio and drive the development of new technologies and geographic reach.

Statistics:

  • The global hydrogen market is projected to grow from USD 225.12 billion in 2025 to USD 312.90 billion by 2030, registering a CAGR of 6.8%.
  • Green hydrogen is expected to register a CAGR of 12.3% during the forecast period.
  • The short-distance transportation segment is expected to account for 55% of the total market share by 2030.
  • The hydrogen market is projected to be driven by government incentives, such as the US Inflation Reduction Act and Europe's Hydrogen Strategy, which are expected to drive rapid deployment and reinforce hydrogen's place in national energy agendas.
  • By 2030, the hydrogen market is expected to be driven by investments in electrolyzer manufacturing, storage infrastructure, and carrier technologies, enabling the US, Europe, and Asia Pacific to emerge as major hydrogen generation and distribution hubs.

Sources:

  • MarketsandMarkets, "Hydrogen Market by Generation Type (Green, Blue), End-Use Industry (Mobility, Chemical & Refinery, Energy), Transportation Type (Long Distance, Short Distance, Fueled Vehicles), and Region - Global Forecast to 2030" (September 18, 2025)
  • https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=132975342

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