Hydrogen Market Report 2026

The hydrogen market size has grown strongly in recent years. It will grow from $47.66 billion in 2025 to $52.25 billion in 2026 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to expansion of chlor-alkali production, growth of refinery hydrogen consumption, increasing use in metal processing, availability of industrial hydrogen by-product streams, expansion of pipeline infrastructure.

The hydrogen market size is expected to see strong growth in the next few years. It will grow to $75.92 billion in 2030 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to increasing investments in low-carbon hydrogen projects, rising demand from fuel cell applications, expansion of hydrogen distribution networks, growing adoption in energy transition projects, increasing focus on hydrogen purity standards. Major trends in the forecast period include growing adoption of hydrogen as an industrial feedstock, rising use in refining and chemical processing, expansion of pipeline-based hydrogen distribution, increasing demand for high-purity hydrogen, enhanced focus on on-site hydrogen generation.

The stringent fuel emission norms are expected to propel the growth of the hydrogen market. Fuel emission norms refer to the legally established limits on the number of pollutants and greenhouse gases that vehicles, such as cars, trucks, and motorcycles, are allowed to emit into the environment. Fuel emission regulations push industries and governments to seek cleaner energy sources, making hydrogen an attractive option. Hydrogen is used in zero-emission transportation, decarbonizing industries, and energy storage, aligning with emission reduction goals. For instance, in April 2023, according to the United States Environmental Protection Agency (EPA), a US-based government agency, the EPA proposed stricter emissions standards for light- and medium-duty vehicles, targeting various pollutants emitted by vehicles, including greenhouse gases, ozone, particulate matter, and air toxics. The proposed standards are projected to result in a 56% reduction in projected fleet average GHG emissions target levels for light-duty vehicles in 2032 compared to the existing 2026 standards. Therefore, the stringent fuel emission norms are driving the growth of the hydrogen market.

Major companies in the hydrogen mobility market are focusing on developing advanced fuel cell electric vehicles (FCEVs) with improved performance, longer driving ranges, and innovative designs to promote hydrogen adoption in transportation. Fuel cell technology generates electricity from hydrogen gas through an electrochemical reaction, producing only water as a byproduct. For instance, in April 2025, Hyundai Motor, a South Korea-based automotive manufacturer, unveiled the all-new NEXO FCEV, featuring a bold new design, enhanced fuel cell efficiency, and advanced driver-assistance systems. The vehicle demonstrates Hyundai’s commitment to sustainable mobility by integrating cutting-edge hydrogen technology to provide extended range, faster refueling, and reduced environmental impact. The launch of the all-new NEXO offers consumers the benefits of zero-emission driving, lower operating costs, and a more sustainable alternative to conventional vehicles.

In September 2025, Electric Hydrogen, a U.S.-based clean energy company, acquired Ambient Fuels for an undisclosed amount. Through this acquisition, Electric Hydrogen aims to establish a global project financing capability with Generate Capital, accelerate the rollout of hydrogen infrastructure, expand its clean energy solutions portfolio, and strengthen long-term project development and financing strategies. Ambient Fuels LLC is a U.S.-based company specializing in hydrogen production and fuel solutions.

Major companies operating in the hydrogen market are Shell plc, Chevron Corporation, BP p.l.c., TotalEnergies SE, Equinor ASA, Exxon Mobil Corporation, Saudi Arabian Oil Company (Saudi Aramco), Linde plc, Air Liquide S.A., Air Products and Chemicals, Inc., Engie S.A., Uniper SE, Plug Power Inc., Bloom Energy Corporation, Hydrogenics Corporation, Nel ASA, Cummins Inc., Ballard Power Systems Inc., Siemens Energy AG, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., Toyota Motor Corporation, Hyundai Motor Company.

Asia-Pacific was the largest region in the hydrogen market in 2025. North America was the second-largest region in the global hydrogen market. The regions covered in the hydrogen market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the hydrogen market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The hydrogen market consists of the sales of green hydrogen, blue hydrogen, brown hydrogen, yellow hydrogen, turquoise hydrogen, and pink hydrogen. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.