- Hydrogen Fuel Cell Providers: Companies such as Neom Green Hydrogen Company (NGHC), Air Products, Plug Power, BP, Siemens, Lhyfe, and First Hydrogen are at the forefront of hydrogen fuel cell technology and production. These companies are investing in research and development to advance hydrogen fuel cell technology and increase efficiency, with the aim of making fuel cell vehicles and applications more widespread1.
- Hydrogen Infrastructure: These companies are not only focused on producing fuel cells but also on building the necessary infrastructure for hydrogen distribution and storage. This includes developing green hydrogen production capabilities, which are critical for meeting the growing demand for clean energy sources1.
- Government Support: The global green hydrogen industry is expected to grow significantly, driven by favorable demand trends from fuel cell electric vehicles and the power generation industry. Governments and organizations are providing incentives and funding to support the development of hydrogen fuel cell technology and infrastructure12.
- Market Growth: The market for hydrogen fuel cells is projected to grow substantially, with the global green hydrogen industry valued at $676 million in 2022 and expected to grow at a compound annual growth rate of 61% from 2022 to 2027, reaching a value of $7.3 billion by the end of the forecasted period2.
In summary, a variety of companies are providing hydrogen fuel cells, and the market is growing rapidly due to increasing demand, technological advancements, and government support.