WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 195
Market Data
Physical Energy Flows
ENERGY IN
THE REGIONS
Green hydrogen production can grow massively by 2030 but cost challenges are hampering
deployment
FIGURE 2
Green Hydrogen Market Size, 2023 - 2032 (USD bn)
95.14
• The global green hydrogen market was valued
at $4.24 Bn in 2023, which is estimated to reach
$95.14 Bn in 2032, growing at a CAGR of 41.3%
• More than 1,000 renewable and low-carbon
hydrogen projects requiring $320Bn of
investment by the end of 2030 have been
announced globally, although less than 10%
have reached 昀椀nal investment decision
• Of these projects, 112 are for gigawatt-scale
production — 91 of which are green and 21 are
“low-carbon”, and will need about $150Bn of
investment by 2030, according to the Hydrogen
Insights 2023 study
67.4
%
1.3
GR
CA
HOME
Hydrogen
+4
47.7
33.7
4.24
5.99
2023
2024
8.5
2025
Source: Polaris Market Research
2026
2027
2028
2029
2030
2031
2032
195
16.9
12.0
WEMO 2024
23.9
