The global hydrogen market reached 101.96 Million Tons in 2025. The market is projected to grow at a CAGR of 3.60% between 2026 and 2035, reaching almost 145.22 Million Tons by 2035.
Base Year
Historical Period
Forecast Period
By 2050, hydrogen is expected to account for 12% of the world’s total energy consumption.
The green hydrogen capacity of Europe is expected to reach 2.7 GW by 2025.
South Korea is expected to meet nearly 30% of its energy needs through hydrogen by 2040.
Compound Annual Growth Rate
3.6%
Value in Million Tons
2026-2035
*this image is indicative*
China is the world’s leading producer and consumer (at 24 million tons) of hydrogen. Since 2019, China has announced the establishment of 30 new plants for green hydrogen generation. By 2030, green hydrogen is expected to account for 15% of the total output of the market in China, while the cost of production is expected to reduce to 20 yuan per kilogram. By 2027, the scale of hydrogen energy production is expected to reach 300 billion.
As Japan lacks critical natural resources for hydrogen production, it is partnering and agreements aimed at importing hydrogen. By 2030, the Japanese government aims to establish 900 hydrogen refuelling stations to promote the adoption of electric vehicles.
In 2021, India launched the National Green Hydrogen Mission with the objective of achieving energy independence by 2047. Under the plan, it invested19,744 crore rupees to install 60-100 GW of hydrogen electrolyser capacity and expand the domestic production capabilities to 5 MMT by 2030. This is expected to result in 1 lakh crore of savings on the import bill and reduce annual carbon dioxide emissions by 50 MMT by 2030.
Global Hydrogen Market Report and Forecast 2026-2035 offers a detailed analysis of the market based on the following segments:
Market Breakup by Sector
Market Breakup by Application
Market Breakup by Region
Based on application, the market is divided into energy, mobility, and chemical and refinery, among others. Over the forecast period, mobility is expected to emerge as one of the leading segments, as the adoption of electric vehicles scales up globally and the demand for clean energy transportation increases.
Major market players are expected to boost their capacity for hydrogen generation and storage. This essential fuel is expected to find widespread application in the chemical and refinery, and mobility industries.
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The market reached nearly 101.96 Million Tons in 2025.
The market is projected to grow at a CAGR of 3.60% between 2026 and 2035.
The market is assessed to witness a healthy growth in the forecast period to reach around 145.22 Million Tons in 2035.
The different applications of hydrogen include energy, mobility, and chemical and refinery, among others.
The major segments based on sector considered in the market report include generation type, storage, and transportation.
The different regions covered in the market report are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key market players are Linde Plc, Shell Plc, Chevron Corporation, Air Products and Chemicals Inc., Air Liquide S.A., Saudi Arabian Oil Co., and Uniper SE, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Sector |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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