The hydrogen fuel cells market will reach a value of nearly $8.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 28.8% since 2017. The market is expected to reach $31.8 billion by 2027, rising at a rate of more than 41%. The market is further expected to grow at a CAGR of above 37% from 2027 and reach $154 billion by 2032.