Overview
- The Hydrogen Council released the Global Hydrogen Compass 2026 on Thursday, reporting more than USD 130 billion committed to roughly 6.9 million tonnes per year of clean‑hydrogen capacity across over 570 projects.
- About 90% of those projects are either under construction or already operating, and global operational capacity nearly doubled over the past year with a further doubling expected as current builds come online next year.
- Geography of the buildout is concentrated: China supplies more than half of committed renewable hydrogen capacity and most new operational additions, the United States accounts for about 75% of committed low‑carbon hydrogen and ammonia capacity, and Europe ranks second in cumulative investment and project count.
- Policies now in force could firm roughly 6 Mtpa of 2030 hydrogen demand while an additional 5 Mtpa depends on governments delivering clear demand signals such as mandates, carbon pricing, offtake support and infrastructure investment.
- Commercial risks remain: many green‑hydrogen projects have been scaled back or cancelled because high electrolyser costs and weak offtake deals make them unviable, a trend that could slow decarbonization, raise costs for industries like steel and shipping, and limit hydrogen’s role in short‑term energy security unless costs fall and buyers commit.