Delivering a state-of-the-industry assessment, Anne-Laure de Chammard, Member of the Executive Board at Siemens Energy and Executive Board Member of the Hydrogen Council, argued that the hydrogen sector has moved beyond both recent hype and the scepticism that followed project cancellations and write-downs.
Speaking at Gastech 2026, she said the industry had entered a new phase of maturation, with committed investment in clean hydrogen reaching $130 billion across more than 570 projects. Around 90% of that capacity is either operational or under construction, while operational capacity grew 70% in the past year alone and is expected to more than double again next year.
“Hydrogen quietly stopped being a promise and started becoming an industry,” she said.
“By 2030, existing policies could unlock around 11 million tonnes of clean hydrogen demand. About 6 million tonnes of that is backed by policy that is already enacted and enforced. But the remaining 5 million tonnes is waiting on governments to finish implementing commitments they have already made,” de Chammard noted, calling on governments to stop pledging and start implementing their policies.
While long viewed as a decarbonisation solution, hydrogen is increasingly valued for energy security, industrial competitiveness, and economic resilience amidst energy market and geopolitical disruptions.
More than 60% of committed hydrogen investment is flowing to regions where energy security and industrial growth rival decarbonisation as investment drivers. Hydrogen and its derivatives can diversify supply, reduce market exposure, and support strategic industries.
Ammonia was highlighted as a key example. Beyond its potential as a fuel and industrial feedstock, it remains essential to global fertiliser production and food security. Hydrogen can also support renewable-heavy power systems, with electrolysers absorbing electricity surplus and providing flexibility. These examples illustrate how hydrogen is increasingly being framed as an economic and energy security tool rather than solely a decarbonisation solution.
“This is resilience language. It’s not just decarbonisation,” de Chammard said. “It is industrial competitiveness language.”
Addressing concerns about project cancellations and industry write-offs, de Chammard acknowledged that the hydrogen pipeline has undergone a period of rationalisation. However, she argued that this reflects a necessary maturation process rather than a retreat.
More than 70% of CEOs building hydrogen businesses maintained or increased investment over the past year, she said. Rather than pursuing large numbers of speculative projects, the industry is increasingly concentrating on commercially viable developments supported by stronger business cases, clearer demand signals and more robust policy frameworks.
China now accounts for more than half of committed renewable hydrogen capacity, while Europe ranks second globally by investment and leads in project numbers. North America remains the largest market for committed low-carbon hydrogen capacity.
Despite these differences, de Chammard identified one common factor behind progress.
“Three very different markets, three very different drivers of why we have this market, and one common thread: where policy is clear, investments get committed, and projects are built,” she said.
Looking ahead to 2030, de Chammard argued that the key constraint is no longer technology, finance or project pipeline, but policy execution. Governments now need to implement commitments already made and create conditions for projects to move forward. “The gap between potential and firm demand is in large part a policy implementation gap,” she said.
For industry leaders, the immediate priority is to create bankable demand that can support final investment decisions. Capital is available, but projects require long-term offtake agreements and stable market frameworks before they can proceed.
De Chammard also stressed that all forms of low-carbon hydrogen can contribute to replacing roughly 100 million tonnes of unabated hydrogen produced each year globally, while maintaining that renewable hydrogen should remain the industry’s long-term destination.
Concluding, she said hydrogen must deliver four outcomes: availability, affordability, resilience and decarbonisation. While the foundations for growth are in place, the next phase will depend on turning policy commitments into bankable demand and projects that can be deployed at scale. The challenge is no longer writing new rules but implementing existing ones.
