The global hydrogen market is experiencing rapid growth, with a value of US$ 230.16 billion in 2024 projected to soar to US$ 1,657.24 billion by 2050, with a CAGR of 7.88%. The surge in hydrogen projects worldwide, including 1,400 new production initiatives, reflects the industry's momentum in transforming energy landscapes. Regions like Europe, Africa, and Oceania are heavily investing in renewable hydrogen capacity, emphasizing its pivotal role in addressing climate change and energy security. Despite only 1 GW of operational electrolyzer capacity currently, the industry's trajectory is accelerating towards ambitious targets. The hydrogen market's versatility is acknowledged for decarbonizing challenging sectors like steel and heavy-duty transportation. The projected demand for hydrogen to meet climate goals is enormous, indicating a shift towards hydrogen as a key energy carrier. The market faces challenges such as high production costs and infrastructure limitations but is bolstered by growing investments and partnerships. Clean hydrogen is set to surpass LNG in value by 2030, highlighting its rising significance in global energy trade. The economic potential of the hydrogen market is immense, with projections suggesting a value of US$1.4 trillion by 2050, offering substantial job creation and economic growth opportunities across countries.