The global green hydrogen market is expected to grow significantly, reaching $30.6 billion by 2030 with a CAGR of 61.1 per cent, driven by carbon reduction efforts and advancements in electrolysis and renewables, according to a report by MarketsandMarkets.

Government support enhances this growth, with green hydrogen becoming crucial for sustainable energy transitions.

Increased usage in fuel cell electric vehicles (FCEVs) and high-energy industries like steel and ammonia production boosts demand.

Major recent collaborations include Oman’s $11 billion deal with EDF and Siemens Energy’s joint venture with Air Liquide to produce renewable hydrogen electrolysers.