Hydrogen is taking on a broader strategic role in the global energy system, with energy security and industrial growth increasingly joining decarbonization as drivers of investment, according to the Hydrogen Council’s recently published report, Global Hydrogen Compass 2026.
The Hydrogen Council said committed clean-hydrogen investment (see chart below) has reached about $130 billion, representing 6.9 million metric tons per year (MMtpa) of capacity across more than 570 projects. About 90% of that capacity is already operating (dark-blue bar segments) or under construction (medium-blue bar segments). Operational capacity grew 70% over the past year to roughly 1.7 MMtpa and could reach 3.8 MMtpa next year as projects now under construction come online, the report said.
Source: Hydrogen Council
As discussed in this week’s Hydrogen Billboard, China is driving renewable hydrogen growth, accounting for more than half of global committed renewable-hydrogen capacity and most of the new renewable capacity that has become operational since 2025. Europe ranks second in committed investment and leads in project count, with investment up 35%, helped by the implementation of EU regulations. The U.S. remains the global leader in deployment, accounting for more than 75% of committed low-carbon capacity.
The report also said that policies already in force support about 6 MMtpa of low-carbon hydrogen demand, with 4.2 MMtpa already covered by binding offtake agreements. About three-quarters of that contracted demand is tied to hydrogen’s traditional markets, particularly refining and ammonia production.
