The hydrogen market in Japan is set to expand to 1 trillion yen ($9.8 billion) by 2030 and 8 trillion yen by 2050, according to a government report.
“Hydrogen energy has the potential for wide applications, not just fuel cell vehicles and fuel cells for homes,” the government-affiliated New Energy and Industrial Technology Development Organization said in a report. “It also has the potential for areas such as transportation and power generation.”
Japan has the largest number of applications for patents related to fuel cells, according to the report.
The U.S. is investing some money in hydrogen, but not nearly as much as Japan.