In the UAE, Zawya reported that the global green hydrogen market is expected to rach a value of $30.6 billion by 2030 growing at a CAGR of 61.1%, according to a new report by consultancy Markets and Markets.
The report noted that the market is experiencing rapid growth, driven by global efforts to reduce carbon emissions and advancements in electrolysis and renewables.
Government support through policies and investments is also boosting growth. Its versatility and scalability make green hydrogen a key player in the transition to sustainable energy, said the report.
The market is even being propelled by its increasing use in fuel cell electric vehicles (FCEVs) and high-energy-intensive industries like steel and ammonia production, further driving demand and market expansion, it stated.
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