The second quarter of 2025 painted a mixed picture for the global hydrogen and derivatives market. Cancellations and insolvency filings still dominated headlines in many OECD countries, yet the numbers themselves tell a slightly more positive story compared to Q1, 2025: about 1.5 GW of new electrolyser projects reached final investment decision, mainly in China, India and Oman, while blue-hydrogen schemes actually beat the combined total for electrolytic and biogenic hydrogen.

Altogether, roughly 0.5 million tonnes a year of low-carbon hydrogen moved into the construction phase.  Delphi Data Labs recorded 27 project cancellations in Q2, but they were more than offset by 52 new project announcements.

Several smaller developments indicate a more mature market environment and renewed confidence in regional hydrogen value chains. Europe experienced a surge in RFNBO certifications, hydrogen pipeline projects, and public support programmes. Meanwhile, Asia advanced several larger projects in Oman, China and India, many of which were backed by strategic alliances and vertically integrated supply models.
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