Most of today's energy needs are now being met by non-renewable resources. Fossil fuels are being used up on a vast scale, which has led to a serious energy problem for civilization and environmental issues. In order to identify alternatives that offer the least amount of pollution and greatest efficiency, it is currently being thought about how to harness the potential of sustainable energy. One of the finest ways to provide clean, sustainable energy that might displace fossil fuel-based energy systems and emerge as the preferred energy source is hydrogen. The use of hydrogen fuel as an alternative for engines made to run on other fuels is a possibility. Depending on the characteristics of hydrogen, a high level of safety is necessary in any applicable design to hasten the transition to hydrogen economy. Safety related to hydrogen is a very crucial factor because of the higher volatility and diffusivity of hydrogen fuel as compared to other conventional fuels. This review is being done to examine the implications of hydrogen becoming a significant source of future green energy. It discusses the development of the “hydrogen economy”, i.e., the production, storage, and transport of hydrogen fuel. To store and transport hydrogen fuel, the requirement of cryogenic temperature at high pressure and building advanced infrastructure makes it a less viable option as an alternate energy source in the present times. To overcome technological and socio-economic obstacles, much research is required to make the switch from fossil fuels to hydrogen.