Hydrogen Generation Market Share worth $317.39 Billion by 2030 - Exclusive Report by The Research Insights

CHICAGO, May 27, 2025 /PRNewswire/ -- The global Hydrogen Generation Market size is projected to be valued at USD 186.58 billion in 2024 and reach USD 317.39 billion by 2030, growing at a CAGR of 9.3% according to a new report by The Research Insights. The rising need for cleaner fuel alternatives combined with government policies to lower sulfur output from petroleum-based products stimulates market growth.

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Hydrogen Generation Market growth of 9.3% comprises a vast array of, Technology, Application, System, Source, and Geography which are expected to register strength during the coming years.

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Market Overview and Growth Trajectory:

Hydrogen Generation Market Growth: According to an exhaustive report by The Research Insights, the Hydrogen Generation Market is experiencing significant growth. The development of several key trends that are influencing the industry landscape. The hydrogen generation market is growing because there is a transition toward sustainable energy solutions that produce low carbon emissions to address potential environmental damage from rising greenhouse gas emissions. FCEVs operate using hydrogen as their fuel source. The demand for clean hydrogen fuel needed to power transport vehicles grow along with the developing need for sustainable transportation across multiple countries. Numerous reports suggest that shifting to a hydrogen-based economy could enable carbon emissions to fall by 99% through fossil fuel replacement.

The worldwide pursuit of decarbonization objectives along with a movement toward clean energy sources defines today's energy transition:
The global hydrogen generation market is propelled by the increasing worldwide effort for decarbonization alongside a movement toward clean energy sources. Nations across the globe are launching intensive climate policies focused on decreasing greenhouse gas emissions to meet their commitments under the Paris Agreement and achieve their national net-zero goals. Green hydrogen which is generated through renewable energy electrolysis stands as a crucial transition element because of its emission-free nature and capacity to decarbonize challenging sectors like heavy industry and aviation. Large-scale hydrogen strategies with policy incentives, subsidies and pilot project funding are being deployed by governments in Europe, Asia-Pacific and North America to boost production and develop infrastructure. The European Union's Hydrogen Strategy and the U.S. Department of Energy's Hydrogen Shot initiative are both making multi-billion-dollar investments to promote hydrogen as an essential element of clean energy systems. The push for renewable energy solutions and fossil fuel alternatives drives increasing demand for green and blue/gray hydrogen production technologies.

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The hydrogen generation market expansion is driven by its industrial applications and increasing demand from various end-use sectors:
The industrial sector has relied on hydrogen for extended periods while expanding demands from refining and ammonia production, methanol manufacturing and steelmaking now serve as significant market growth drivers. The primary global applications for hydrogen production involve oil refining and chemical manufacturing processes using steam methane reforming (SMR) as the main production method. Due to industrial efforts to find cleaner fuel alternatives to fossil fuels, low-carbon hydrogen shows growing potential as both a feedstock and energy carrier. The steel industry investigates hydrogen-based direct reduction approaches to replace coal in blast furnaces. The production of ammonia for fertilizers and shipping fuel is progressively relying on green hydrogen. The acceleration of industrial decarbonization efforts will lead to a substantial increase in demand for economical and large-scale hydrogen production technologies.

Technological Advancements and Economies of Scale:
The progress in hydrogen generation technologies especially electrolyzers improves both efficiency and cost-effectiveness which boosts market adoption rates. The development of proton exchange membrane, alkaline, and solid oxide electrolyzers remains active which enhances their conversion efficiency while strengthening durability and their integration with renewable energy systems. CCUS technologies enhance the viability of blue hydrogen by diminishing the carbon footprint of SMR production methods. Investment growth in hydrogen storage facilities as well as distribution networks and refuelling stations leads to strengthened infrastructure for the hydrogen economy. Increased production volumes will enable economies of scale and supply chain improvements to reduce costs and enhance hydrogen's competitiveness across transportation, power generation and residential heating markets.

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Geographical Insights: 

The hydrogen generation market in 2023 saw the Asia-Pacific region leading with contributions exceeding 35.14% of total revenue. China led this expansion by having numerous refineries which played a major role in boosting hydrogen production usage. The existence of these refineries has played a crucial role in stimulating both innovation and investment within the sector. Japan and Australia's governments are currently investigating green hydrogen production methods to promote sustainable energy practices throughout the region.

The hydrogen generation industry throughout North America has experienced continuous growth in recent years due to various applications and technological breakthroughs. The methanol and ammonia production sectors show the fastest growth rates alongside notable expansion in both the United States and Canada during the previous five years.

The hydrogen generation industry will experience rapid growth because of technological improvements in fuel cells coupled with its increasing penetration in the European market. The upward trend results from initiatives by the European Commission (EU) which have partnered with Fuel Cells and Hydrogen Joint Undertaking (FCH JU) to sustain this growth.

Global Hydrogen Generation Market Segmentation and Geographical Insights:

• Based on Technology, the hydrogen generation market size is divided into Steam Methane Reforming, Coal Gasification, and Others. The steam methane reforming technology stands out as a highly advanced and mature method of producing hydrogen.
• Based on Application, the hydrogen generation market share is divided into Methanol production, Ammonia Production, Petroleum Refining, Transportation, Power Generation, and Others. The production of ammonia holds significant revenue potential, accounting for more than 21.0% of market and expected to maintain its lead throughout the forecast period.
• Based on System, the hydrogen generation market trends is divided into Captive, and Merchant. The merchant generation segment dominated the market, accounting for approximately 60.0% of revenue share. 
• Based on Source, the hydrogen generation market size is divided into Natural Gas, Coal, Biomass, and Water. The natural gas-based hydrogen production accounted for over 72.0% of the total revenue share, underscoring its status as the most cost-effective method of producing hydrogen.
• The Hydrogen Generation Market Size is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

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Key Players and Competitive Landscape:

The Global Hydrogen Generation Market Forecasts is characterized by the presence of several major players, including:

• Air Liquide International S.A
• Air Products and Chemicals, Inc
• Hydrogenics Corporation
• INOX Air Products Ltd.
• Iwatani Corporation
• Linde Plc
• Matheson Tri-Gas, Inc.
• Messer
• SOL Group
• Tokyo Gas Chemicals Co., Ltd.

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Global Hydrogen Generation Market Recent Developments and Innovations:

• In November 2024: A SIT Group subsidiary named Hybitat Srl introduced a green hydrogen production and storage solution for home and business applications as well as public installations. The recently sold initial 200 kWh system will be set up in an 18th-century home next year. The system generates hydrogen from surplus solar energy for later electricity conversion or usage as a gas.
• In October 2024: Adani Group introduced 2.2-2.3% green hydrogen into the natural gas delivered to Shantigram households in Ahmedabad to diminish emissions while working toward its net-zero goals. The joint venture between Adani Total Gas Ltd and TotalEnergies injects clean produced hydrogen into natural gas pipelines to create heat and power that emits less carbon.
• In July 2024: Tecnimont Private Limited as Tecnimont's Indian subsidiary and NEXTCHEM have launched the first green hydrogen plant for GAIL (India) Limited at Vijaipur located in Madhya Pradesh. The facility received its award in May 2022 and produces 4.3 Tons of green hydrogen daily through 10 megawatt electrolysers. GAIL achieves a historic achievement by becoming India's first company to operate megawatt-scale green hydrogen production which helps India move towards low-carbon energy solutions.
• In April 2024: Panasonic's Electric Works Company disclosed plans to introduce a pure hydrogen fuel cell generator known as PH3 to markets in Europe, Australia, and China. A chemical reaction between high-purity hydrogen and oxygen generates power through the generator's operation. Panasonic launched the PH1 5 kW hydrogen business model in 2021 and now continues its expansion beyond Japan through new initiatives.
• In February 2024: The Haryana-based company Hygenco revealed its plans to establish the first working green hydrogen facility in Hisar, India. The facility creates green hydrogen which generates power while producing no carbon dioxide emissions. This represents a major advancement for India's sustainable energy initiatives. The project intends to help establish a low-carbon economic system within the country.

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Hydrogen Generation Market Report Scope

 

Frequently Asked Questions (FAQs):

1. What is the current size of the hydrogen generation market?
   - The current market size of the hydrogen generation market is USD 186.58 billion in 2024.
2. Who are the leading players in the hydrogen generation market?
   - The key players in the hydrogen generation market include Linde Plc; Messer; Air Products and Chemicals, Inc; Air Liquide International S.A; INOX Air Products Ltd.; Matheson Tri-Gas, Inc.; SOL Group; Iwatani Corporation; Hydrogenics Corporation; Tokyo Gas Chemicals Co., Ltd.; Taiyo Nippon Sanso Corporation; Teledyne Technologies Incorporated; Hygear; Claind; and Advanced Specialty Gases Inc.
3. What are the major drivers for the hydrogen generation market? 
   - Growing demand for cleaner fuels and the implementation of supportive government policies to decarbonize various sectors are some of the major drivers for the hydrogen generation market.
4. Which is the largest region during the forecasted period in the hydrogen generation market?
   - Asia Pacific is expected to dominate the hydrogen generation market between 2024–2030, followed by North America and Europe.
5. Which is the largest segment, by technology, during the forecasted period in the hydrogen generation market?
   - The steam methane reforming (SMR) segment is expected to be the largest market during the forecast period. SMR is a cost- and energy-efficient method of producing hydrogen. It is commonly used due to the easy availability of raw material (methane). These factors are responsible for the growth of the segment.

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Conclusion:

The global hydrogen generation market faces transformation because of increasing clean energy demands and strict emissions regulations along with technological advancements in electrolysis and fuel cell systems. The urgent requirement to reduce carbon emissions from industrial processes and power generation alongside transportation systems has established hydrogen as an essential driver for worldwide energy transition. Financial support for green hydrogen initiatives powered by renewable energy systems is speeding up the transition away from fossil-derived hydrogen toward sustainable energy solutions. The utilization of hydrogen technology is growing quickly in ammonia production as well as oil refining, heavy-duty transportation, and energy storage systems. Integrating hydrogen with smart grid systems and renewable infrastructure demonstrates how hydrogen contributes to the development of resilient economies with lower carbon footprints. Hydrogen needs continuous development in scalable production methods alongside cost-effective processes and advanced storage solutions to achieve its full potential. Hydrogen generation technologies will serve as essential foundations for future energy systems within comprehensive net-zero strategies and worldwide climate commitments.

The report from The Research Insights, therefore, provides several stakeholders— governments, energy and utility companies, industrial gas suppliers, regulatory bodies, and environmental agencies—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.

With projected growth to US$ 317.39 billion by 2030, the Global Hydrogen Generation Market represents a significant opportunity for green technology startups, renewable energy developers, electrolysis equipment manufacturers, automotive OEMs focusing on fuel cell vehicles, and venture capital firms, can position themselves for success in this dynamic and evolving market landscape.

Check out more related studies published by The Research Insights:

• Hydrogen Storage Market: According to a new report by The Research Insights, over the forecast period we anticipate substantial expansion in demand for sustainable hydrogen storage systems. The emphasis on alternative energy sources that provide dependable eco-friendly solutions compared to conventional fossil fuels will drive the worldwide market's progress.
• Green Hydrogen Market: The worldwide green hydrogen market is expected to grow substantially because multiple elements are driving this expansion. With a market size of USD 11.86 billion reported in 2025 the global green hydrogen market expects to achieve a strong compound annual growth rate (CAGR) of 38.5% from 2025 through 2030. The swift market growth stems from renewable energy sources like wind and solar power powering electrolysis which turns water into hydrogen.
• Hydrogen Fueling Station Market: The global hydrogen fueling station market size is projected to hit USD 832.5 million by 2024 and expand at an annual growth rate of 25.2% between 2024 and 2030. The increasing requirement for zero-emission vehicles from both governments and consumers who want to replace traditional gasoline and diesel cars acts as a primary growth catalyst.

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