The global merchant hydrogen market is estimated to garner a CAGR of ~8 % over the forecast period, i.e., 2022-2030. The market is segmented on the basis of application into jet fuel, gasoline, metallurgy, drugs & medicines, and others, out of which, the gasoline segment is estimated to garner the major share by the end of 2030, owing to the increasing demand for gasoline in various end-user industries. Moreover, the drugs & medicines segment is also projected to gain a significant share during the forecast period, owing to the rising R&D activities in the direction.