Since the release of the 'The Future of Hydrogen' report by the International Energy Agency, the 2020s have been labeled the 'Decade of Hydrogen,' showcasing a surge in hydrogen projects globally. However, despite this enthusiasm, challenges persist in moving these projects to Final Investment Decision (FID) stage. The industry faces obstacles such as policy uncertainty, high capital costs, and limited infrastructure. The U.S. government's introduction of the 45V hydrogen production tax credits underlines the importance of low-carbon hydrogen in achieving net zero emissions. While the industry tackles challenges, positive developments include increased manufacturing capacity of electrolyzers and growing demand for low-carbon hydrogen in various sectors, including refining and green steel. The market is witnessing progress in aligning supply and demand for clean hydrogen. Although policy uncertainties remain a hindrance, steps are being taken globally to navigate these challenges. The industry's trajectory suggests substantial growth and impactful projects in the future, emphasizing hydrogen's crucial role in the energy market for a sustainable future.