The hydrogen economy, despite facing challenges in its growth trajectory, is positioned at a critical phase of development according to GlobalData. The demand for low-carbon hydrogen is anticipated to rise as industries strive to decarbonize their operations, especially in sectors like steel, transportation, and power. GlobalData's thematic report highlights that the majority of the low carbon hydrogen capacity expected by 2030 will be derived from green hydrogen plants, emphasizing the shift towards sustainable energy sources. Oil and gas companies are at the forefront of this transition, with investments in blue and green hydrogen production for their long-term sustainability goals. Ravindra Puranik from GlobalData emphasizes the crucial role of low-carbon hydrogen in reducing emissions and its potential in various sectors including transportation. While there has been a surge in low-carbon hydrogen project announcements, most are still in the feasibility stage, indicating a positive trend towards decarbonization. The expansion of the hydrogen distribution network, including the addition of new pipelines, is highlighted as essential for the future success of the global hydrogen economy. The current phase signifies a pivotal moment for the industry, with the fate of the hydrogen economy dependent on upcoming developments in the near future.