The hydrogen fuel cell market is set to nearly double in value over the next six years, with projections reaching $5.9 billion by 2030. Global powers are investing over $200 billion in hydrogen technologies to meet net-zero emission goals and decarbonize high-emission industries.

The United States leads the market with 36% of global revenues in 2024, driven by federal policies like the Infrastructure Law. Japan, a mature market, is investing in residential fuel cells and hydrogen stations to secure future energy needs.

Transportation accounts for 46% of market demand, with fuel-cell electric vehicles gaining traction. Proton Exchange Membrane Fuel Cells dominate the market due to their suitability for automotive applications. The stationary application segment sees increased demand from data centers and industrial facilities seeking low-carbon power sources.

Despite challenges, the industry aims to reduce costs and enhance competitiveness by 2030. Companies like Ballard Power Systems and Bloom Energy are improving technology and infrastructure to support mass commercialization. The global network of hydrogen refueling stations is expected to exceed 15,000 by 2030, paving the way for widespread adoption.

The hydrogen fuel cell market is poised for significant growth, driven by government investments and technological advancements. As the industry overcomes challenges and reduces costs, hydrogen fuel cells are set to become a key component of the global energy mix in the coming years.

Read more at Yahoo Finance: Hydrogen Fuel Cell Market Poised to Nearly Double by 2030