Hydrogen Generation Market worth $226.37 billion by 2030 | MarketsandMarkets™
DELRAY BEACH, Fla., Aug 4, 2025 /PRNewswire/ -- The global Hydrogen Generation Market is anticipated to grow from estimated USD 157.81 billion in 2025 to USD 226.37 billion by 2030, at a CAGR of 7.5% during the forecast period. The global Hydrogen Generation Market is projected to grow during the forecast period, driven by the increasing emphasis on reducing carbon emissions, transitioning to cleaner energy sources, and strong government support through policies and national hydrogen strategies. While green hydrogen is gaining momentum due to its potential for zero-emission production, Gray hydrogen currently dominates the market owing to its cost-effectiveness, mature technology, and well-established production infrastructure using natural gas.
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By application
The petroleum refinery segment is likely to hold a dominant position in the Hydrogen Generation Market between 2025 and 2030 due to the extensive use of hydrogen in refining processes, such as hydrocracking and desulfurization, which help produce cleaner fuels and meet stringent environmental regulations. The rising global demand for ultra-low sulfur diesel and other refined petroleum products is a major driver pushing refineries to adopt higher hydrogen consumption levels. Additionally, the increasing emphasis on reducing sulfur content to comply with tightening emission standards across regions further fuels hydrogen demand in petroleum refineries.
Based on technology
The electrolysis segment is poised to register the highest growth rate during the forecast period due to the global push toward decarbonization and the increasing demand for green hydrogen as a sustainable energy carrier. Electrolysis enables the production of hydrogen using renewable electricity sources, such as solar and wind, offering a zero-emission solution that aligns with ambitious net-zero targets and clean energy policies worldwide. Growing investments in renewable energy infrastructure accelerate the deployment of electrolysis technology at scale. Additionally, government incentives, subsidies, and national hydrogen strategies, particularly in regions such as Europe and Asia Pacific, further propel the market.
Regional Analysis
Europe is projected to be the second fastest-growing region in the Hydrogen Generation Market during the forecast period, driven by ambitious climate targets, stringent emission reduction regulations, and strong policy support for clean energy technologies. The European Union's Green Deal and national hydrogen strategies accelerate large-scale investments in green and low-carbon hydrogen projects. Expanding renewable energy capacity and the push to decarbonize industrial sectors and heavy transport further fuel market growth. Strategic partnerships, cross-border hydrogen infrastructure development, and significant funding programs position hydrogen as a key pillar of the energy transition, reinforcing the region's leadership in advancing a sustainable hydrogen economy.
Key Market Players
Some major players in the Hydrogen Generation Market are Linde plc (Ireland), Air Liquide (France), Saudi Arabian Oil Co. (Saudi Arabia), Air Products and Chemicals, Inc. (US), Shell plc (UK), ENGIE (France), Chevron Corporation (US), Ørsted A/S (Denmark), and Messer SE & Co. KGaA (Germany). Major strategies adopted by these players include acquisitions, sales contracts, collaboration, investments, agreements, partnerships, and expansions.
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Linde PLC
Linde PLC provides industrial gases and high-quality engineering solutions, technologies, and services. The company is the largest industrial gas firm globally in terms of market share and revenue. It operates through five business segments: Americas, EMEA (Europe, Middle East & Africa), APAC (Asia, Pacific), Linde Engineering, and Global Other. It offers hydrogen through the Americas, EMEA (Europe, Middle East & Africa), and APAC (Asia Pacific) business segments. It serves customers from the healthcare, petroleum refining, manufacturing, food & beverage carbonation, fiber optics, aerospace, chemical, electronics, and water treatment verticals. Its products are divided into two main categories: gases and engineering. The company manufactures and distributes atmospheric, medical, and industrial gases, such as hydrogen, helium, oxygen, and synthesis gases, through these categories. Its industrial gases are utilized for many applications, including lifesaving oxygen, specialty gases for electronics manufacturing, and hydrogen for clean fuels.
Air Liquide
Air Liquide is a French multinational company that provides industrial gases and services to various industries, such as pharmaceuticals, chemicals, and electronics. The company is the largest global supplier of industrial gases. It offers services to multiple industries, such as medical, electronics, and chemicals. It operates through six business segments: Industrial Merchant, Large Industries, Healthcare, Electronics, Global Market & Technologies, and Engineering & Construction. It offers hydrogen through its Large Industries business segment.
Hydrogen is the key component produced using electrolysis from renewable energies and biomethane reforming systems. The company focuses on increasing the production of renewable and low-carbon hydrogen. It has set up many hydrogen production units, which use electrolysis techniques, either by investments or joint ventures, to meet customer demands. It operates numerous manufacturing facilities globally, including over 4,000 air separation plants worldwide and a presence in about 75 countries. It has a geographic presence in the Americas, Europe, the Middle East & Africa, and Asia Pacific.
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