In Canada, IMR reported that the global green hydrogen market, valued at $3.8 billion in 2023, is on a trajectory of significant growth, projected to reach $78.13 billion by 2032. The report noted that this upward momentum corresponds to a robust CAGR of 39.83% over the forecast period from 2024 to 2032. “Asia-Pacific is emerging as a dominant force in the green hydrogen market, with significant investments and policy support driving its growth. Countries like Japan, India, and Pakistan are leading the charge, with Japan allocating billions of dollars for hydrogen infrastructure and research, including a $10 billion pledge for renewable energy and clean hydrogen initiatives. India is positioning itself as a major hydrogen exporter, backed by a $2 billion incentive program,” said IMR. “This region’s strategic investments in green hydrogen are helping to meet growing energy demands while advancing the transition to sustainable, low-carbon energy sources.” It added.
More on the story.
