Green hydrogen market to reach $166 billion by 2037, research finds
In Massachusetts, IDTechEX forecasts that the global green hydrogen market may reach $166 billion by 2037, representing a CAGR of 48%.
The research firm said tht the global green hydrogen market is expected to reach $3 billion by 2027.
“Despite increasing policy support and ambitious project announcements across major markets, green hydrogen currently accounts for less than 1% of global hydrogen production. Significant expansion of renewable power generation, alongside continued policy support and infrastructure development, will be required for green hydrogen to achieve widespread adoption over the coming decade,” the report stated.
“Despite current manufacturing overcapacity and ongoing project development challenges, IDTechEx believes the long-term outlook for green hydrogen remains positive. Green hydrogen is a heavily policy-driven market, with strengthening regulatory frameworks across major regions continuing to support project development. Key developments include China’s 15th Five-Year Plan and recent improved clarity around RED III implementation in Europe. In parallel, project pipelines are maturing, and industrial demand for low-carbon hydrogen is expected to increase substantially over the coming decade. Together, IDTechEx expects the green hydrogen market to experience sustained long-term growth,” it added.
Category: Fuels
