In 2023, Research, Development, and Demonstration (RD&D) investment in hydrogen and fuel cells in Canada stood at approximately 36 million USD PPP. Over the next five years, forecasts suggest a steady decline, with values predicted to decrease annually. From 2024 to 2028, the year-on-year variation indicates an average annual decrease of roughly 0.5%, leading to a compound annual growth rate (CAGR) of -0.5% over this period. This trend reflects a gradual reduction in funding commitment or re-allocation within the broader energy transition landscape.

Future trends to watch for include:

Increased government policies promoting renewable energy, potentially boosting hydrogen technologies.
Private sector investment in hydrogen applications across industries such as transportation and manufacturing.
Developments in international collaborations that may bring additional resources or innovation to Canada's hydrogen RD&D sphere.