U.S. is one of the leading country in hydrogen generation, particularly due to advancements in fuel cell technology, hydrogen gas turbine and a robust focus on hydrogen transportation infrastructure development. Major players like Plug Power and Air Products have significantly invested in green hydrogen projects, aligning with the U.S. government’s clean energy tax incentives. A price premium is prevalent in the market due to high production & distribution costs, but innovations in technology and scaling are expected to gradually lower these expenses.

Asia-Pacific, led by Japan, South Korea, and China, has a more competitive environment with several government initiatives fostering rapid advancements in hydrogen infrastructure and deployment. Companies like Toshiba and Panasonic have been instrumental in developing large-scale electrolysis projects. Market drivers are different as its basics for Asia-Pacific, as it imports most of energy resources specifically LNG from west or middle east, and continuous rise in LNG prices have created a positive commercial scenario for hydrogen generation. Lower production costs compared to North America have also given the region an edge, though challenges persist in transportation and storage.