With the need for clean and renewable energy sources, government incentives, and the increasing number of applications for hydrogen and fuel cells, the market is expected to continue to experience strong growth in the years to come. The hydrogen and fuel cell market is a rapidly growing sector of the energy industry. This makes fuel cell technology more expensive, when compared to battery technology, and can impact FCEV sales. A major limiting factor for the global fuel cell market is the high costs of rare-earth metals that are used as catalysts in fuel cells.

The primary factors propelling this growth include a surge in demand for clean and emissions-free power generation and strict regulations for carbon emissions across the globe. The power generation segment accounted for $88.5 million of the market's value in 2022, and is expected to grow at a CAGR of 63% from 2022 to 2027, reaching a value of $1.01 billion by the end of the forecasted period.Īnother report by MarketsandMarkets estimated that the global fuel cell industry was valued at $2.9 billion in 2022 and is projected to grow to $9.1 billion by 2027, at a compound annual growth rate of 26.0%. The mobility segment is expected to grow at a CAGR of 63.4% and account for $4.55 billion of the green hydrogen market by 2027. The report further pointed out that, segment wise, in 2022 the mobility segment accounted for the major market share of the green hydrogen industry and represented 58% of its value. Some of the limiting factors the green hydrogen industry is faced with include hefty infrastructure costs for green hydrogen production and an underdeveloped market. Analyses of the Global Green Hydrogen and Fuel Cell IndustriesĪccording to a report by MarketsandMarkets, the global green hydrogen industry was valued at $676 million in 2022 and is projected to grow at a compound annual growth rate of 61% from 2022 through 2027, reaching a value of $7.3 billion at the end of the forecasted period. The market's expansion is expected to be primarily driven by a significant decrease in the cost of generating renewable energy from solar and wind sources, technological advancements in electrolysis technologies, and favorable demand trends from fuel cell electric vehicles (FCEVs) as well as the power generation industry. With continued research and development, green hydrogen and fuel cells could become an important part of the global energy mix. They are highly efficient and have no moving parts, making them a reliable source of power. Fuel cells are devices that convert chemical energy from hydrogen into electrical energy. It is an efficient and clean source of energy, producing near-zero emissions when burned. Hydrogen is the most abundant element in the universe and is a powerful fuel source. Green hydrogen and fuel cells are gaining traction as the world looks for alternative sources to fossil fuels in its battle against climate change. If you want to explore similar stocks, you can also take a look at 5 Most Promising Hydrogen and Fuel Cell Stocks According to Analysts. In this article, we will look at the 10 most promising hydrogen and fuel cell stocks to buy now according to analysts.

Hydrogen stocks