Energy enthusiasts in developed countries explore sustainable and efficient pathways for accomplishing zero carbon footprint through the H
2
economy. The major objective of the H
2
economy review series is to bring out the status, major issues, and opportunities associated with the key components such as H
2
production, storage, transportation, distribution, and applications in various energy sectors. Specifically, Part I discussed H
2
production methods including the futuristic ones such as photoelectrochemical for small, medium, and large-scale applications, while Part II dealt with the challenges and developments in H
2
storage, transportation, and distribution with national and international initiatives. Part III of the H
2
economy review discusses the developments and challenges in the areas of H
2
application in chemical/metallurgical industries, combustion, and fuel cells. Currently, the majority of H
2
is being utilized by a few chemical industries with >60% in the oil refineries sector, by producing grey H
2
by steam methane reforming on a large scale. In addition, the review also presents the challenges in various technologies for establishing greener and sustainable H
2
society.