Within the clean energy economy, hydrogen is increasingly a major source of decarbonization. It’s not surprising that hydrogen stocks to buy have been in the limelight. As the global hydrogen economy grows, some of the best companies are in a position to create massive value.

The global hydrogen market was valued at $222.4 billion in 2022 and market size is expected to swell to $410.6 billion by 2030. There is a big opportunity, and the market size will continue to swell beyond the next decade. Let’s, therefore, talk about three hydrogen stocks to buy with millionaire-maker potential.

Linde (LIN)

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Linde (NASDAQ:LIN) is a blue-chip name among the best hydrogen stocks to buy. LIN stock trades at a forward P/E of 28 and offers a dividend yield of 1.28%. Valuations look attractive considering the planned clean energy investment for the coming years.

An important point to note is that Linde has expertise in the hydrogen sector. Linde has a presence across the hydrogen value chain, which includes production, processing, storage and distribution. It has nearly 200 hydrogen refueling stations and 80 hydrogen electrolysis plants worldwide. Therefore, Linde can leverage this experience to expand its hydrogen investment.

In 2023, Linde indicated that it sees clean energy investment opportunities at $50 billion. Of course, any potential investment target will be spread over several years. However, it underscores the company’s commitment; with some big investments likely, there will be a positive impact on long-term growth.

Plug Power (PLUG)

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I had given up on a potential revival for Plug Power (NASDAQ:PLUG). PLUG stock is, however, higher by 51% from 52-week lows, and I expect the rally from oversold levels to sustain.

The one news that makes my view cautiously optimistic is the $1.66 billion conditional commitment loan guarantee from the U.S. Department of Energy. The loan commitment will help finance the development, construction and ownership of up to six green hydrogen production facilities.

Whether the company can finance its ambitious growth plans through 2030 remains to be seen. However, the loan commitment provides significant credibility to the company’s plans to build the hydrogen economy in the United States.

Plug Power has also indicated that equipment sales are expected to drive top-line growth and margin improvement in the coming quarters. Potentially accelerated growth is another catalyst for PLUG stock upside in the coming quarters.

Bloom Energy (BE)

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Bloom Energy (NYSE:BE) stock is another interesting name among hydrogen stocks to buy. In the last six months, BE stock has trended higher by almost 30%. I expect the positive momentum to sustain with several positive business developments.

Bloom Energy signed an agreement with Shell (NYSE:SHEL) to investigate opportunities for large-scale renewable hydrogen energy projects in March. The target is to develop a “large-scale, solid oxide electrolyzer system that would produce hydrogen for potential use at Shell assets.” Considering Shell’s financial flexibility, the partnership will create immense value in the coming years.

The company’s hydrogen fuel cell technology has deployed across industries like healthcare, data centers, critical manufacturing and retailers. With proven technology, the addressable market will be significant in the coming years. The current revenue decline period is a good opportunity to accumulate BE stock.

On the date of publication, Faisal Humayun did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.