More than 570 hydrogen projects have committed capacity worldwide – 90% of which are under construction or already operational.
According to the Global Hydrogen Compass, global operational capacity has nearly doubled and is expected to double again over the next year – so far, investment has surpassed $130 billion.
Governments have placed strengthened energy security at the forefront of recent pledges, enabling hydrogen to receive renewed attention for its unique abilities to solve issues. This has kickstarted a sharp increase in investment.
The hydrogen craze is expanding beyond governments, as 64% of CEOs indicated that recent energy shocks accelerated their interest in hydrogen, according to the report.
Jaehoon Chang, VC of Hyundai Motor Group and Co-Chair of the Hydrogen Council, said: “The debate has shifted from whether hydrogen can deliver to how fast countries choose to build. While the pace varies by market, the principle is the same: identify where hydrogen creates the most value, build the ecosystem around it and prove it works.
“This year’s Compass highlights a clear lesson: wherever countries deploy hydrogen solutions suited to their context and support them with policy, competitive hydrogen ecosystems are taking hold. By learning from those examples, we can build on that momentum faster and with greater confidence.”
The report also reveals that China still holds position for the largest market committing to renewable hydrogen capacity – despite its external perception as a heavy-industry-first country.
Europe now follows as the second-largest market, leading in project count and relative investment growth, having increased by 35% since 2025.
To facilitate this growth, as seen in most renewable industries, policymakers are being asked to implement enabling incentives, mandates and robust pricing.
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