Hydrogen’s Hype Is Dead — And That’s Good News

Let’s start with the punchline: a wave of canceled hydrogen megaprojects is not a disaster, it’s a sign of success. The sector is maturing fast, shedding the glam tours and stick-to-the-basics players who couldn’t deliver, and leaving room for quietly effective pioneers. The hype bubble burst (and rightly so) Between 2021 and today, low-carbon hydrogen demand is still tiny—just under 1 million tonnes in 2023 out of a total global hydrogen demand of 97 million tonnes, and mostly still fossil-based. Meanwhile, the Hydrogen…