In Massachusetts, SkyQuest reported that the global hydrogen market is expected to reach $442.4 billion by 2032, up from a value of $251.4 billion in 2024.
The market is expected to expand at a CAGR of 7.2% from 2025 to 2032.
“Europe is estimated to spearhead the global hydrogen demand on the back of supportive government initiatives to promote hydrogen production. High sustainability awareness among consumers and presence of stringent environment conservation mandates are also helping this region maintain its dominant stance,” the report stated.
“The Asia Pacific region is slated to emerge as the fastest-growing region for hydrogen vendors. Growing investments in new hydrogen production plants, increasing awareness regarding clean energy, and surge in demand for hydrogen-based transport are also driving revenue generation in this region,” it added.
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