The global hydrogen industry has witnessed remarkable growth in investment and project development over the past four years. With a seven-fold increase in investment for hydrogen projects reaching Final Investment Decision (FID) globally, the industry's progress is evident. The number of clean hydrogen projects that have reached FID has jumped from 102 projects in 2020 to 434 projects in 2024, reflecting a significant increase in committed investment from USD 10 billion to USD 75 billion. Key drivers of this success include the presence of clear and effective incentives such as the 45Q tax credit in the United States, which has encouraged project development. Additionally, demand-side visibility through mechanisms like contract-for-difference instruments in Japan has stimulated hydrogen demand for power production. Strong industrial policies focusing on cost reduction have also played a crucial role in driving the growth of the hydrogen industry. This growth demonstrates the commitment of decision-makers in both industry and government to promote clean energy solutions, showcasing a positive outlook for the future of hydrogen as a key player in the global energy transition.