Green Hydrogen Market to Reach $19.2 Billion by 2032, Growing at a CAGR of 45.6% from 2025--Exclusive Report by Meticulous Research

Market Growth Driven by Increasing Demand in FCEVs, Chemical Production, and Industrial Decarbonization Efforts

REDDING, Calif., April 11, 2025 /PRNewswire/ -- According to a new market research report titled "Green Hydrogen Market by Generation Process (Proton Exchange Membrane Electrolysis, Alkaline Electrolysis, Solid Oxide Electrolysis), Energy Source (Wind, Solar, Hydropower), Application, End User, and Geography - Global Forecast to 2032," the green hydrogen market is projected to reach $19.2 billion by 2032, up from an estimated $1.4 billion in 2025, reflecting a CAGR of 45.6% during the forecast period. The growth of this market is driven by increasing green hydrogen demand in fuel cell electric vehicles (FCEVs), growing demand in chemical production, rising government initiatives for net zero-emission, and expanding industrial decarbonization efforts.

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KEY MARKET DRIVERS AND TRENDS

The green hydrogen market is experiencing explosive growth due to global decarbonization efforts and the transition to cleaner energy sources. The rising adoption of fuel cell electric vehicles, particularly in heavy transport applications, is significantly driving demand. In May 2025, HYVIA (France) launched the Renault Master Van H2-TECH, a green hydrogen-powered van designed to accelerate the decarbonization of mobility on the roads.

Latest trends in the green hydrogen market include the integration with AI-optimized systems, gigawatt-scale electrolysis projects, and innovative hydrogen storage solutions. Recent advances in catalyst materials and membrane durability have significantly improved PEM efficiency and lifespan, making it increasingly competitive with traditional methods.

GROWTH OPPORTUNITIES

The market presents substantial growth opportunities due to increasing investment by market players for the development of advanced electrolysis technologies. The growing adoption of green hydrogen due to its zero-carbon footprint is expected to create additional market expansion possibilities, particularly in hard-to-abate industrial sectors.