- Innovations such as improved catalysts, membrane materials, and system designs enhance electrolysis processes, reducing energy consumption and costs. Higher efficiency translates to greater hydrogen production with less input energy, making green hydrogen increasingly competitive with conventional hydrogen production methods
- This efficiency boost lowers the overall cost of hydrogen production and accelerates the adoption of green hydrogen across various sectors, driving the market forward
- Europe dominated the green hydrogen market with the largest revenue share of 46.8% in 2024, driven by strong policy support for decarbonization, aggressive climate targets, and growing investments in clean hydrogen infrastructure across major economies including Germany, France, the U.K., and the Netherlands
- Asia-Pacific is projected to grow at the fastest CAGR of 14.6% from 2025 to 2032, fueled by rising energy demand, massive investments in renewable energy, and government initiatives supporting clean hydrogen development in countries such as China, Japan, India, South Korea, and Australia
- The Polymer Electrolyte Membrane (PEM) Electrolyzer segment dominated the green hydrogen market with the largest revenue share of 64.3% in 2024, owing to its high efficiency, compact design, and rapid response to fluctuating power inputs
