China leads in total committed investments in $110B clean hydrogen industry, report finds

September 9, 2025, by Ajsa Habibic

More than 500 clean hydrogen projects worldwide have reached maturity, representing $110 billion in investments, with China occupying the leading position in total committed investments and renewable hydrogen production, according to the Hydrogen Council’s new annual publication.

Hydrogen Council’s inaugural ‘Global Hydrogen Compass’ report sheds light on a major milestone in the clean hydrogen sector, which has witnessed a $35 billion increase in committed investments since last year.

Furthermore, the sector has averaged a 50% year-over-year growth rate in committed investments since 2020, according to the Hydrogen Council’s report, co-authored with McKinsey & Company.

As explained, this progress is accompanied by natural attrition, as projects with the strongest business cases advance and less viable ones are withdrawn, demonstrating continued maturation across the industry. Since 2020, more than 1,700 hydrogen projects have been announced globally, representing a 7.5-fold increase. In contrast, approximately 50 projects have been publicly cancelled in the past 18 months, accounting for about 3% of the total pipeline, primarily early-stage renewable hydrogen ventures.

On the supply side, total committed capacity now exceeds 6 million tonnes per year (mtpa), including 1 mtpa already in operation, Hydrogen Council reported.

After accounting for delays and expected attrition, the current project pipeline could support up to 9-14 mtpa of clean hydrogen capacity by 2030, but requires demand to materialize, and unlocking it is the next big challenge.

On the demand side, about 3.6 mtpa of binding offtake has been secured. As policy clarity emerges in key markets such as the EU, US, Japan, and Korea, up to 8 mtpa of clean hydrogen demand could materialize by 2030, the report found.

China is in the forefront with $33 billion in total committed investments and renewable hydrogen production, accounting for over 50% of global renewable capacity, followed by North America ($23 billion investments), which is also home to 85% of global low-carbon hydrogen production. Europe ranks third in committed investment ($19 billion), while accounting for nearly two-thirds of the expected 2030 global demand.

Jaehoon Chang, Vice-Chair of Hyundai Motor Group and Co-Chair of the Hydrogen Council, said: “The Global Hydrogen Compass sends a strong message: our industry has entered the next chapter of build-out, moving from ambition to delivery. With more than 500 projects advancing past FID and investment commitments now exceeding USD 110 billion, a USD 35 billion increase from last year, we are seeing tangible proof of progress.

“This milestone also reminds us of the work ahead. To sustain this momentum and fully unlock hydrogen’s potential, consistent policy support and effective execution are essential in accelerating a clean, resilient and secure energy future.”

Sanjiv Lamba, CEO of Linde and Co-Chair of the Hydrogen Council, commented: “The industry has made strong progress over the past five years, demonstrating its ability to innovate and scale. The Global Hydrogen Compass report shows we are now at a pivotal juncture: accelerating market creation and securing binding offtake agreements must become the priority to ensure today’s projects deliver real impact. Achieving this will require stronger collaboration between business and government to build the frameworks and partnerships essential for progress. By aligning our efforts, we can unlock the full potential of hydrogen to meet the challenges ahead.”