Green hydrogen market to reach US$166 billion by 2037

Hydrogen is a crucial industrial feedstock, with global demand reaching nearly 100 million tonnes annually. However, most hydrogen production today remains fossil fuel-based, primarily through steam methane reforming (SMR) and coal gasification (CG). Green hydrogen, produced via water electrolysis powered by renewable electricity, offers one of the most promising pathways for reducing emissions associated with hydrogen production and supporting wider industrial decarbonization efforts.