The hydrogen economy is facing challenges in meeting the growth expectations set back in 2020 due to slower-than-anticipated demand. However, as industries like steel, transportation, and power aim to decarbonize, the need for low-carbon hydrogen is projected to rise. GlobalData's thematic report on hydrogen indicates that the majority of the low-carbon hydrogen capacity by 2030 will be from green hydrogen plants. While purple and turquoise hydrogen capacities are forecasted to be minimal, only 2% of the expected capacity by 2030 is operational currently. The role of low-carbon hydrogen in decarbonizing energy-intensive industries is emphasized, with its potential applications in downstream oil and gas processes and the transportation sector. The oil and gas industry is expected to remain a key driver of hydrogen demand, with additional growth likely from sectors like metallurgy and power generation. Companies are increasingly announcing low-carbon hydrogen projects to align with global energy transition goals, with a focus on green hydrogen for long-term sustainability.