Global investment in clean hydrogen has surpassed $130 billion across 570 projects, according to a new report by the Hydrogen Council.
According to the Hydrogen Council’s Global Hydrogen Compass 2026, which was produced in association with McKinsey & Company, some 90% of these projects are under construction or already operational.
Operational capacity for clean hydrogen has nearly doubled over the past year, and is expected to see similar growth next year, as projects under construction come online.
At the same time, changing geopolitical priorities are ‘strengthening hydrogen’s role as a strategic resilience lever’, the report noted, with governments eager to bolster energy security, economic resilience and industrial growth.
‘Indispensable partner’
“Hydrogen is not only a decarbonisation solution; it is also the indispensable partner to renewable electricity,” commented François Jackow, CEO of Air Liquide and co-chair of the Hydrogen Council.
“Through their synergies, hydrogen strengthens the resilience and improves the efficiency and affordability of the overall energy system. As countries accelerate electrification, recognising hydrogen’s systemic role will be essential to building secure, competitive and affordable energy systems for the future.”
China is the world’s biggest market for clean hydrogen, accounting for more than half of global committed renewable hydrogen capacity, and 90% of new operational capacity added globally since 2025.
Europe, where investment has risen by 35% since 2025, ranks second, while the US continues to lead in low-carbon hydrogen deployment, accounting for around 75% of global committed low-carbon hydrogen and ammonia capacity.
As the report noted, projects are well positioned to move forward where policy and infrastructure are ‘robust’ – existing policies have the potential to unlock 11 Mpta of clean hydrogen demand by 2030, but only 6 Mtpa is currently supported by policies that have been enacted and enforced.
‘Prove it works’
“The debate has shifted from whether hydrogen can deliver to how fast countries choose to build,” commented Jaehoon Chang, vice-chair of Hyundai Motor Group and co-chair of the Hydrogen Council.
“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.” Read more here.
