The hydrogen economy, also known as the hydrogen value chain, is experiencing notable momentum driven by factors on both the demand and supply sides. Industries are striving to decarbonize hard-to-abate sectors such as refining and ammonia production, motivated by regulatory pressures like carbon taxes. Advancements in hydrogen end-use technologies are further boosting this demand. On the supply side, innovative financing mechanisms and incentives, especially for green hydrogen producers, are facilitating growth. The market recognizes the importance of hydrogen and its derivatives in decarbonizing sectors and serving as energy carriers for renewable energy transport. Two primary pathways for low-carbon hydrogen production are blue hydrogen and green hydrogen. While blue hydrogen is a transitional option allowing quick decarbonization, green hydrogen, produced through water electrolysis powered by renewables, is seen as the ultimate clean solution. For hydrogen to succeed as a key energy carrier, economically viable and well-engineered value chains are crucial at regional and global levels. Notable advancements in green hydrogen production include major project investments globally, such as Sweden's H2 Green Steel and ACWA Power's project in Saudi Arabia. Regulatory support from countries like the UK, Japan, and Germany is significantly contributing to the development of green hydrogen projects and infrastructure. The market is witnessing a surge in manufacturing capacity for water electrolyzers across North America, Europe, and Asia-Pacific, driven by high demand and government funding. The global green hydrogen market is expected to continue its rapid growth, fueled by increasing demand from various sectors. IDTechEx projects a significant increase in electrolyzer installations globally by 2034. With the growing interest and market activity for green hydrogen, the sector is poised for further expansion and innovation.