A general rise in environmental and anthropogenically induced greenhouse gas emissions has resulted from worldwide population growth and a growing appetite for clean energy, industrial outputs, and consumer utilization. Furthermore, well-established, advanced, and emerging countries are seeking fossil fuel and petroleum resources to support their aviation, electric utilities, industrial sectors, and consumer processing essentials. There is an increasing tendency to overcome these challenging concerns and achieve the Paris Agreement’s priorities as emerging technological advances in clean energy technologies progress. Hydrogen is expected to be implemented in various production applications as a fundamental fuel in future energy carrier materials development and manufacturing processes. This paper summarizes recent developments and hydrogen technologies in fuel refining, hydrocarbon processing, materials manufacturing, pharmaceuticals, aircraft construction, electronics, and other hydrogen applications. It also highlights the existing industrialization scenario and describes prospective innovations, including theoretical scientific advancements, green raw materials production, potential exploration, and renewable resource integration. Moreover, this article further discusses some socioeconomic implications of hydrogen as a green resource.