More than $130 billion has been committed to clean hydrogen projects representing 6.9 MTPA of capacity across more than 570 projects worldwide, according to the Hydrogen Council’s Global Hydrogen Compass 2026. About 90% of the projects are under construction or operational. China accounts for more than half of committed renewable hydrogen capacity, Europe ranks second in investment, and the United States leads in low-carbon hydrogen deployment. Policies already in force could support 6 MTPA of annual hydrogen demand by 2030, with another 5 MTPA possible if governments fully implement existing measures. The sector nevertheless faces high production costs and weak demand, prompting developers to scale back investments or cancel projects. Industries including steelmaking and long-distance transportation have found the shift to green hydrogen prohibitively expensive in some cases.