16 September 2026
Hydrogen Council published its Global Hydrogen Compass 2026
The Hydrogen Council’s Global Hydrogen Compass report – the yearly published status report edited by McKinsey & Company- examines where the hydrogen industry stands today, summarizes the main lessons learnt from the previous period and discusses latest trends and emerging hydrogen ecosystems.
The 2026 document shows encouraging results, the industry is clearly moving. Global committed hydrogen investment is now exceeding $130 billion across more than 570 projects, representing 6.9 Mtpa of capacity. Operational capacity grew 70% this year to 1.7 Mtpa and could double next year. By 2030, potential demand could reach 11 Mtpa, but nearly 5 Mtpa of this depends on governments fully implementing policies that have already been announced.
China is clearly leading in renewable hydrogen, with remarkable figures:
- $ 44,5 billion of committed hydrogen investment, of which $12 advanced to FID over the past year. 3 GW of electrolysis capacity has been installed.
- Scale and domestic competition have resulted in reduction of electrolyzer prices by about 45% since 2020.
- An integrated hydrogen mobility ecosystem is built, with more than 32,000 fuel-cell vehicles (FCEVs - focus on heavy-duty trucks) in operation and over 500 hydrogen refuelling stations.
China is considered as a global proof point for hydrogen deployment, building confidence, and Chinese deployment is expected to accelerate hydrogen adoption globally.
One of the key take-aways is that hydrogen is increasingly becoming a strategic tool for energy security and industrial growth, alongside its traditional role in decarbonization. More than 60% of committed investment is now in markets where security and economic growth are at least as important as climate objectives.
Hydrogen technologies can also support renewable power systems through flexible demand and long-duration storage, potentially reducing system costs by 10–20%.