Global green hydrogen market to grow by more than 6,000% by 2031, says new study

by | Aug 5, 2022 | Uncategorized | 0 comments

The global green hydrogen market will expand from $2.14bn last year to $135.73bn by 2031 — a “phenomenal” compound annual growth rate (CAGR) of 51.6% — according to a new study from Indian/US firm Transparency Market Research (TMR).

Over the ten-year period, this represents industry growth of 6,243%.

Similar growth was forecast in April by US analyst Guidehouse Insights, which forecast that the global manufacturing of electrolysers — the machines that produce green hydrogen from renewable electricity — would increase by almost 8,000% between the end of this year and 2031.

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