세계의 그린 수소 제조 시장 예측(-2032년) : 기술별, 재생 자원별, 생산 규모별, 저장 유형별, 유통 채널별, 용도별, 지역별 분석

According to Stratistics MRC, the Global Green Hydrogen Production Market is accounted for $8.2 billion in 2025 and is expected to reach $98.0 billion by 2032, growing at a CAGR of 42.4% during the forecast period. Green hydrogen production uses renewable electricity to electrolyze water, creating hydrogen with near-zero lifecycle carbon emissions. It's targeted for hard-to-decarbonize sectors like heavy industry, shipping, and long-duration energy storage. Market growth depends on falling electrolyzer costs, abundant renewable capacity, supportive policy, and development of hydrogen transport and storage infrastructure. Manufacturers, utilities, and industrial users are forming offtake and partnership agreements to build supply chains, while standards and certification schemes emerge to validate low-carbon hydrogen.

According to the IEA's Global Hydrogen Review, electrolyser manufacturing capacity doubled in 2023 to ~25 GW/yr.

Market Dynamics:

Driver:

Growing global focus on decarbonization and net-zero targets

Governments and corporations are actively setting net-zero emissions targets, creating a powerful regulatory and ethical imperative to replace fossil fuels. Green hydrogen, which emits only water vapor when utilized, holds a unique position in decarbonizing challenging sectors such as heavy industry, fertilizer production, and long-haul transport. This policy-driven demand is accelerating investments and fostering a favorable environment for market growth, making it a cornerstone of the clean energy transition.

Restraint:

High capital and operational costs of electrolyzers

The capital expenditure for electrolyzers remains high, and their operation is energy-intensive, directly linking the cost of hydrogen to renewable electricity prices. This disadvantage currently makes green hydrogen less economically competitive compared to conventional grey or even blue hydrogen. These high costs deter potential investors and end-users, slowing down project final investment decisions and scaling efforts until more affordable technology and economies of scale are achieved.

Opportunity:

Development of large-scale green hydrogen hubs

A major opportunity lies in the strategic development of integrated green hydrogen hubs. These hubs co-locate massive production facilities with abundant renewable resources and large-scale offtakers, such as industrial clusters or export terminals. This centralized model drastically reduces costs through shared infrastructure and economies of scale. Moreover, it de-risks investments and creates entire new value chains, positioning regions as leaders in the future hydrogen economy and attracting significant public and private capital for development.

Threat:

Competition from blue hydrogen

Blue hydrogen, a product of natural gas with carbon capture, poses a significant threat to the market. Blue hydrogen presents a lower-cost, low-carbon alternative in the near to medium term, leveraging existing natural gas infrastructure. This can divert investments and policy support away from green hydrogen, potentially locking in fossil fuel dependencies. For green hydrogen to prevail, it must achieve cost parity and establish its superior environmental credentials as a completely fossil-free fuel.

Covid-19 Impact:

The pandemic initially disrupted the green hydrogen market by causing supply chain bottlenecks, construction delays, and temporary capital expenditure pullbacks. But in the end, the crisis helped the sector grow. Many global recovery packages prioritized clean energy and strategic autonomy, leading to substantial governmental stimulus and policy support specifically for green hydrogen projects. This reinforced its role in long-term decarbonization strategies, accelerating project announcements and investment timelines post-2020.

The alkaline electrolyzers (AEL) segment is expected to be the largest during the forecast period

The alkaline electrolyzer (AEL) segment is projected to hold the largest market share, a testament to its established maturity and cost-effectiveness. AEL technology is well-understood, reliable, and has a longer operational history compared to newer alternatives. Its lower capital cost makes it particularly attractive for large-scale, continuous-operation projects where absolute efficiency is secondary to overall project economics. This proven track record ensures its dominance in initial flagship projects forming the market's foundation.

The wind energy-powered green hydrogen segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the wind energy-powered green hydrogen segment is predicted to witness the highest growth rate. The rapidly falling cost of wind power, particularly from offshore wind farms, drives this growth, as they can provide massive, consistent energy output. The synergy between wind power and hydrogen production allows for effective management of grid intermittency, converting excess wind energy into storable hydrogen fuel. This value proposition is attracting significant investment, positioning wind as a key renewable source for cost-competitive green hydrogen production.

Region with largest share:

During the forecast period, the Europe region is expected to hold the largest market share, a direct result of its ambitious and coherent policy framework. Initiatives like the EU's Hydrogen Strategy and REPowerEU plan, backed by substantial funding, have created a powerful demand pull. The region possesses a strong industrial base seeking decarbonization and is actively fostering cross-border partnerships to build a robust hydrogen infrastructure. This top-down strategic approach makes Europe the current global frontrunner in market development and deployment.

Region with highest CAGR:

During the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR, fueled by enormous national strategies in countries like Japan, South Korea, and Australia that focus on both domestic production and international supply chains. China's massive investments in electrolyzer manufacturing and renewable capacity further accelerate this growth. The region's strong industrial demand for hydrogen, combined with its vast potential for low-cost solar and wind energy, creates a powerful engine for market expansion.

Key players in the market

Some of the key players in Green Hydrogen Production Market include Air Liquide, Air Products and Chemicals, Inc., Linde plc, Siemens Energy AG, Nel ASA, ITM Power plc, McPhy Energy SA, Plug Power Inc., Bloom Energy Corporation, Engie SA, Iberdrola, S.A., Enel SpA, Orsted A/S, TotalEnergies SE, Shell plc, BP p.l.c., ACWA Power, Fortescue Metals Group Ltd, Cummins Inc., and Repsol S.A.

Key Developments:

In October 2025, ITM Power unveiled its ALPHA-50 50-MW full-scope green-hydrogen plant standard and reported multiple FEED/project awards.

In July 2025, Siemens Energy announced an electrolyzer award to decarbonise a semiconductor manufacturer and highlighted its hydrogen electrolyzer product deployments.

In June 2025, Linde signed a long-term agreement to supply industrial gases to a world-scale low-carbon ammonia (green hydrogen feedstock) facility in Louisiana and described expanded electrolysis capabilities.

Technologies Covered:

• Alkaline Electrolyzers (AEL)
• Proton Exchange Membrane Electrolyzers (PEMEL)
• Solid Oxide Electrolyzer Cells (SOEC)
• Anion Exchange Membrane Electrolyzers (AEMEL)

Renewable Sources Covered:

• Solar Energy-Powered Green Hydrogen
• Wind Energy-Powered Green Hydrogen
• Hydropower-Powered Green Hydrogen
• Other Renewable Sources

Production Scales Covered:

• Small-Scale (< 1 MW)
• Medium-Scale (1 MW - 10 MW)
• Large-Scale (> 10 MW)

Storage Types Covered:

• Physical Storage
• Material-Based Storage
• Geological Storage

Distribution Channels Covered:

• Pipeline Transport
• Cargo/Ship Transport

Applications Covered:

• Industrial Feedstock
• Power & Energy
• Transportation (Mobility)
• Transportation (Mobility)

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 Application Analysis
• 3.8 Emerging Markets
• 3.9 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Green Hydrogen Production Market, By Technology

• 5.1 Introduction
• 5.2 Alkaline Electrolyzers (AEL)
• 5.3 Proton Exchange Membrane Electrolyzers (PEMEL)
• 5.4 Solid Oxide Electrolyzer Cells (SOEC)
• 5.5 Anion Exchange Membrane Electrolyzers (AEMEL)

6 Global Green Hydrogen Production Market, By Renewable Source

• 6.1 Introduction
• 6.2 Solar Energy-Powered Green Hydrogen
• 6.3 Wind Energy-Powered Green Hydrogen
• 6.4 Hydropower-Powered Green Hydrogen
• 6.5 Other Renewable Sources

7 Global Green Hydrogen Production Market, By Production Scale

• 7.1 Introduction
• 7.2 Small-Scale (< 1 MW)
• 7.3 Medium-Scale (1 MW - 10 MW)
• 7.4 Large-Scale (> 10 MW)

8 Global Green Hydrogen Production Market, By Storage Type

• 8.1 Introduction
• 8.2 Physical Storage
• 8.3 Material-Based Storage
• 8.4 Geological Storage

9 Global Green Hydrogen Production Market, By Distribution Channel

• 9.1 Introduction
• 9.2 Pipeline Transport
• 9.3 Cargo/Ship Transport

10 Global Green Hydrogen Production Market, By Application

• 10.1 Introduction
• 10.2 Industrial Feedstock
  • 10.2.1 Green Ammonia Production (Fertilizers)
  • 10.2.2 Green Methanol Production
  • 10.2.3 Refining and Petrochemicals
  • 10.2.4 Steel and Iron Production (Direct Reduced Iron - DRI)
• 10.3 Power & Energy
  • 10.3.1 Power Generation
  • 10.3.2 Grid Injection/Blending
  • 10.3.3 Seasonal Energy Storage
• 10.4 Transportation (Mobility)
  • 10.4.1 Heavy-Duty Road Transport (Trucking)
  • 10.4.2 Maritime (Shipping)
  • 10.4.3 Aviation
  • 10.4.4 Passenger Vehicles (FCEVs)
• 10.5 Other Applications

11 Global Green Hydrogen Production Market, By Geography

• 11.1 Introduction
• 11.2 North America
  • 11.2.1 US
  • 11.2.2 Canada
  • 11.2.3 Mexico
• 11.3 Europe
  • 11.3.1 Germany
  • 11.3.2 UK
  • 11.3.3 Italy
  • 11.3.4 France
  • 11.3.5 Spain
  • 11.3.6 Rest of Europe
• 11.4 Asia Pacific
  • 11.4.1 Japan
  • 11.4.2 China
  • 11.4.3 India
  • 11.4.4 Australia
  • 11.4.5 New Zealand
  • 11.4.6 South Korea
  • 11.4.7 Rest of Asia Pacific
• 11.5 South America
  • 11.5.1 Argentina
  • 11.5.2 Brazil
  • 11.5.3 Chile
  • 11.5.4 Rest of South America
• 11.6 Middle East & Africa
  • 11.6.1 Saudi Arabia
  • 11.6.2 UAE
  • 11.6.3 Qatar
  • 11.6.4 South Africa
  • 11.6.5 Rest of Middle East & Africa

12 Key Developments

• 12.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 12.2 Acquisitions & Mergers
• 12.3 New Product Launch
• 12.4 Expansions
• 12.5 Other Key Strategies

13 Company Profiling

• 13.1 Air Liquide
• 13.2 Air Products and Chemicals, Inc.
• 13.3 Linde plc
• 13.4 Siemens Energy AG
• 13.5 Nel ASA
• 13.6 ITM Power plc
• 13.7 McPhy Energy SA
• 13.8 Plug Power Inc.
• 13.9 Bloom Energy Corporation
• 13.10 Engie SA
• 13.11 Iberdrola, S.A.
• 13.12 Enel SpA
• 13.13 Orsted A/S
• 13.14 TotalEnergies SE
• 13.15 Shell plc
• 13.16 BP p.l.c.
• 13.17 ACWA Power
• 13.18 Fortescue Metals Group Ltd
• 13.19 Cummins Inc.
• 13.20 Repsol S.A.