Private equity investors are turning their attention to Europe's hydrogen market as investment prospects in the US decline. In 2024, the US experienced an 90% decrease in hydrogen investment, while Europe's regulatory environment is seen as conducive to hydrogen industry growth. The shift is attributed to uncertainties in the US energy transition goals and regulatory changes affecting tax credits for renewable energy producers. Notably, Europe's emissions trading system and carbon border adjustment mechanism are seen as supportive policies for the hydrogen sector. While hydrogen production methods vary in emissions reduction, the focus is on 'green hydrogen' produced from renewable energy sources. This form of hydrogen holds promise as a substitute for fossil fuels in industries like refining, ammonia production, aviation, and steel manufacturing. Despite challenges in adoption, hydrogen fuel cell vehicles and prospects in e-mobility and heavy-duty trucking are gaining momentum for long-term investment. Globally, hydrogen demand is expected to rise significantly by 2030, creating opportunities for investors looking beyond short-term gains. Japan and Korea's ammonia industries are highlighted as key areas for hydrogen investment due to their energy needs and focus on clean power generation.