In 2023, Germany led global RD&D investment in hydrogen and fuel cells at $1.08 billion, showing a stark 90.42% year-on-year increase. Japan experienced a modest 3.07% rise, while the U.S. invested $0.21168 billion with a 12.3% growth. Notable increases were observed in the Netherlands and Belgium with 47.1% and 90.57% respectively. Brazil's investment surged by 60.74%, and Hungary by 26.94%, despite Switzerland, Italy, and others experiencing declines. Over the past five years, investments have seen varied CAGR, reflecting robust interest and strategic shifts across nations.
Future trends to watch:
- Increased collaborations between countries to enhance technological advancements.
- Potential shifts towards more sustainable and scalable fuel cell technologies.
- Growing focus on reducing manufacturing and operational costs.
- Continued support from government policies and subsidies boosting RD&D efforts.
Top countries in RD&D in Hydrogen and Fuel Cells by Country
| # | 10 Countries | Million US Dollars PPP = 2020 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 1,080 | 2023 | +64.9% | +90.42% | View data |
| 2 | 2 Japan | 282.33 | 2023 | -0.11% | +3.07% | View data |
| 3 | 3 United States | 211.68 | 2023 | +5.29% | +12.3% | View data |
| 4 | 4 France | 115.05 | 2023 | +1.56% | +8.52% | View data |
| 5 | 5 Netherlands | 86.85 | 2023 | +23.17% | +47.1% | View data |
| 6 | 6 Belgium | 76.08 | 2023 | +421.32% | +90.57% | View data |
| 7 | 7 Austria | 63.31 | 2023 | +25.73% | +39.08% | View data |
| 8 | 8 United Kingdom | 51.41 | 2023 | +3.63% | +11.11% | View data |
| 9 | 9 Brazil | 17.5 | 2023 | +15.31% | +60.74% | View data |
| 10 | 10 Switzerland | 16.14 | 2023 | -9.84% | -8.09% | View data |
