Southeast Asia Green Hydrogen Market: Current Analysis and Forecast (2025-2033)

Southeast Asia Green Hydrogen Market Size & Forecast

The Southeast Asia Green Hydrogen market was valued at ~USD 70.84 million in 2024 and is expected to grow at a strong CAGR of approximately 56.00% during the forecast period (2025-2033F), driven by an increasing focus on decarbonization and the transition to renewable energy sources.

Southeast Asia Green Hydrogen Market Analysis

Green hydrogen is hydrogen that was formed through the separation of water into hydrogen and oxygen using electricity produced through renewable sources (solar, wind, or hydropower, etc.). This process releases no carbon emissions, making it a clean and sustainable energy carrier.

To drive market growth, green hydrogen is also being adopted by governments and industries in Southeast Asia as an element of decarbonization. Major renewable plants are being built with pilot projects to determine the feasibility of production, storage, and export. Also, energy ministries are developing a policy framework, and industrial sectors like refining, ammonia, and transport are incorporating the use of hydrogen in their clean energy transition strategies. Moreover, the collaboration with international investors and technology suppliers is empowering the local hydrogen infrastructures and the development of the regional infrastructure.

For instance, on July 22, 2025, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, PTT plc and thyssenkrupp Uhde (Thailand) Ltd. joined forces under the International Hydrogen Ramp-Up Programme (H2Uppp) in signing a Cooperation Agreement (CA) for a new public-private partnership (PPP) entitled ‘Opportunity for green hydrogen and sustainable carbon-based products in Southern Thailand’ at PTT Head Office, Bangkok. This new project aims to expand markets and opportunities for green hydrogen and its derivatives in Thailand, focusing on strategic areas in the country’s southern region.

For instance, on October 21, 2024, Sembcorp Industries (Sembcorp), through its wholly-owned subsidiary, Sembcorp Utilities Pte Ltd, and PT PLN Energi Primer Indonesia (PT PLN EPI), a sub-holding company of PT PLN (Persero), entered into a joint development agreement (JDA) for a green hydrogen production facility in Sumatra, Indonesia, capable of producing 100,000 metric tonnes per annum. The project is poised to become Southeast Asia’s largest green hydrogen development initiative, with the goal of creating a regional green hydrogen hub connecting Sumatra, the Riau Islands, and Singapore.

Southeast Asia Green Hydrogen Market Trends

This section discusses the key market trends that are influencing the various segments of the Southeast Asia Green Hydrogen market, as found by our team of research experts.

International Collaboration and Partnerships

The green hydrogen market in Southeast Asia is increasingly influenced by the trend of international collaboration and partnerships. Countries are entering into strategic partnerships with international giants, such as Japan, South Korea, and the European Union, to attract investors, facilitate technology transfer, and establish export institutions. These alliances are facilitating large-scale pilot projects and accelerating the transfer of knowledge in hydrogen production and infrastructure. Moreover, cross-border hydrogen corridors and regional collaboration are also being driven by this trend as part of ASEAN's clean energy roadmap.

Southeast Asia Green Hydrogen Industry Segmentation

This section provides an analysis of the key trends in each segment of the Southeast Asia Green Hydrogen market, along with forecasts at the country level for 2025-2033.

The alkaline electrolyzer market held the dominant share of the green hydrogen market in 2024.

Based on electrolyzer, the market is segmented into proton exchange membrane electrolyzer, alkaline electrolyzer, solid oxide electrolyzer, and others. Among these, the alkaline electrolyzer market held the dominant share of the green hydrogen market in 2024, due to its affordable and developed technology for producing hydrogen at scale. They are reliable and easily scalable, making them suitable for industrial and government-supported projects. This will motivate businesses to invest in hydrogen infrastructure and increase production. On November 15, 2023, Asahi Kasei, Gentari Hydrogen Sdn Bhd, a wholly-owned subsidiary of PETRONAS clean energy arm Gentari Sdn Bhd (Gentari), and JGC Holdings Corporation (JGC) announced the completion of a detailed feasibility study for the production of up to 8,000 tonnes per year of green hydrogen using a 60 megawatt (MW) class alkaline water electrolyser system. The parties also signed a memorandum of understanding (MOU) for a front-end engineering design (FEED) study for the said project. This project is supported by the Green Innovation Fund for Large-scale Alkaline Water Electrolysis System Development and Green Chemical Plant Project by Japan’s New Energy and Industrial Technology Development Organization (NEDO).

The refining segment held the dominant share of the Southeast Asia green hydrogen market in 2024.

Based on end-user, the market is segmented into refining, ammonia, and others (methanol, iron & steel, etc.). Among these, the refining segment held the dominant share of the Southeast Asia green hydrogen market in 2024. The refining industry serves as a major driver of adoption by establishing the direct need for green hydrogen as an alternative to traditional feedstocks, which are cleaner. Southeast Asian companies are using hydrogen to decarbonize their refining processes and to comply with regulations. The industrial project needs to speed up the development of projects and stimulate investments in mass hydrogen planting.

Malaysia held a dominant share of the Southeast Asian Green Hydrogen market in 2024

Malaysia is driving the adoption of green hydrogen, with robust government backing, coherent policy, and its position as an exporter to Japan and South Korea. The nation has a well-developed industrial infrastructure, particularly in the refining and chemical industries, which will provide an immediate source of demand for hydrogen. The presence of investments in renewable energy capacity, as well as collaborations with the world's technology providers, also speeds up the development of the project. The increasing corporate sustainability obligations and the ASEAN regional cooperation also promote universal adoption in the industrial and energy sectors. Malaysia reached a major milestone in its energy transition roadmap with the launch of the Hybrid Hydro Floating Solar (HHFS) and Green Hydrogen Hub in Terengganu on 12 July 2025. These initiatives aim to position Malaysia as a regional leader in the green hydrogen value chain while supporting the National Energy Transition Roadmap (NETR) and the Hydrogen Economy and Technology Roadmap (HETR).

The Green Hydrogen Hub was a strategic collaboration between Petroliam Nasional Berhad (PETRONAS) and Tenaga Nasional Berhad (TNB), with both parties advancing hydrogen production and its derivatives. TNB also enhanced grid infrastructure to support Malaysia’s energy transition and regional clean energy ambitions.

Southeast Asia Green Hydrogen Industry Competitive Landscape

The Southeast Asia Green Hydrogen market is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions.

Top Southeast Asia Green Hydrogen Companies

Some of the major players in the market are PTT Public Company Limited, Pertamina New & Renewable Energy, Sembcorp Industries, Petroliam Nasional Berhad (PETRONAS), ACWA POWER, SunGreenH2, PLN Nusantara Power (PLN NP), Siemens Energy, Linde PLC, and The Green Solutions Group.

Recent Developments in the Southeast Asia Green Hydrogen Market

• On April 16, 2025, PT HDF Energy Indonesia, a subsidiary of HDF Energy, signed a Memorandum of Understanding (MoU) with the Ministry of Transportation (MoT), state-owned electric utility PT PLN (Persero), and ferry operator PT ASDP Indonesia Ferry (Persero). The agreement outlines a joint study to decarbonize Indonesia's maritime sector using locally produced green hydrogen. The study will be conducted in collaboration with, and co-funded by, the International Maritime Organization (IMO).

• On February 18, 2025, HYDGEN (Hydrogen Innovation Pte. Ltd), a Singapore-based company, successfully closed a seed funding round raising close to SGD 2 million (~USD 1.54 million), led by Cloudberry Pioneer Investments, with participation from the National University of Singapore (NUS), TK & Partners, and strategic angel investors. This funding will accelerate HYDGEN’s mission to bring cost-effective, on-site green hydrogen production to industries consuming hydrogen as feedstock.

• On February 21, 2024, Honeywell announced that it signed a Memorandum of Understanding (MoU) with The Green Solutions Group Corporation (TGS) on the Tra Vinh Green Hydrogen project, Vietnam's first green hydrogen plant in the Mekong Delta.

• On May 24, 2022, Hydrogène de France (“HDF Energy” or the “Company”) signed a memorandum of understanding (“MOU”) with PESTECH International Berhad ("PESTECH") to collaborate on green hydrogen production from hydro power plants in Cambodia and Malaysia in order to address multi sectors decarbonation such as, grid services and industrial application projects (“Projects”).

Southeast Asia Green Hydrogen Market Report Coverage

Reasons to Buy the Southeast Asia Green Hydrogen Market Report:

• The study includes market sizing and forecasting analysis confirmed by authenticated key industry experts.

• The report briefly reviews overall industry performance at a glance.

• The report covers an in-depth analysis of prominent industry peers, primarily focusing on key business financials, product portfolios, expansion strategies, and recent developments.

• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

• The study comprehensively covers the market across different segments.

Customization Options:

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