China accounts for more than half of committed renewable hydrogen capacity.
Clean hydrogen projects worldwide have attracted more than $130b in committed investment, with 6.9 million tonnes per annum (Mtpa) of capacity across more than 570 projects, according to the Hydrogen Council’s Global Hydrogen Compass 2026.
The report, co-authored with McKinsey & Company and informed by views from around 70 global CEOs, said 90% of committed capacity is already under construction or operational.
Global operational capacity has nearly doubled over the past year and is expected to double again next year as projects under construction come online.
The report also said changing geopolitical priorities are strengthening hydrogen’s role in energy security and economic resilience.
Governments are increasingly looking to hydrogen to support industrial growth and decarbonisation alongside electrification and renewable energy.
China remains the largest market, accounting for more than half of global committed renewable hydrogen capacity and 90% of new operational capacity added worldwide since 2025. Europe is the second-largest market, leading in project count and recording a 35% increase in relative investment since 2025. The US continues to lead in low-carbon hydrogen deployment, accounting for about 75% of global committed low-carbon hydrogen and ammonia capacity.
However, the report said projects are progressing fastest where policy and infrastructure are stronges. Of the 11 Mtpa of potential clean hydrogen demand that existing policies could unlock by 2030, around 6 Mtpa is currently supported by enacted and enforced policies.
Unlocking the remaining 5 Mtpa will require governments to implement existing policy commitments, the report said.
It identified enabling incentives and mandates, alongside carbon pricing mechanisms that create demand signals, as key priorities for policymakers.
For industry, the focus is on reducing costs and developing the infrastructure needed to meet demand.
