The article highlights the significant projected growth of low-carbon hydrogen capacity between 2024 and 2030, indicating a compound annual growth rate of over 40%. Low-carbon hydrogen is poised to play a vital role in the decarbonisation efforts of various energy-intensive industry verticals globally. Sectors such as refining, petrochemicals, metallurgy, transportation, and power generation are expected to be major drivers of hydrogen demand, while new end-use avenues in consumer segments are also being explored. However, despite the positive outlook, challenges are anticipated in realizing the full potential of low-carbon hydrogen. The article mentions that the capacity additions planned for 2030, totaling around 13.5 million tonnes per annum, may not be sufficient to meet the interim 2030 net-zero goals set by the UN. A significant portion of the upcoming capacity is still in the feasibility stage, with potential barriers related to infrastructure, financing, and demand from end users. Major economies like the US and the EU have outlined ambitious hydrogen integration plans as part of their climate change mitigation strategies. These initiatives are expected to support the growth of new low-carbon hydrogen plants in the near future. The article also discusses the rising demand for low-carbon hydrogen variants like blue and green hydrogen, with a particular emphasis on the use of renewable sources such as wind and solar energy to produce green hydrogen. The broader implications of the hydrogen theme on the oil and gas industry are also explored, alongside insights into the competitive landscape of oil and gas companies. The article references GlobalData's thematic report on Hydrogen for further details on these topics.