Hydrogen, a key player in the energy landscape, is seeing a surge in demand driven by its eco-friendly attributes and efficiency compared to traditional fossil fuel methods. The market, valued at USD 170.91 billion in 2023, is poised for significant growth with a projected CAGR of 6.3% over the forecast period. While natural gas remains the primary source for hydrogen production globally, innovative approaches like electrolysis and solar energy are gaining popularity due to their environmental benefits. International collaboration is essential to accelerate the adoption of hydrogen, with organizations like the International Energy Agency providing critical guidance and support. The market is segmented into various applications like Petroleum and Refinery, Ammonia and Methanol Production, Transportation, and Power Generation, each contributing to its growing significance in different sectors. Despite the current cost challenges of low-carbon hydrogen production, technological advancements are expected to drive a 30% cost reduction by 2030, making hydrogen a more accessible and viable energy solution for the future.