In this paper; technological challenges and commercialization barriers for Proton Exchange Membrane (PEM) fuel cell are presented. Initially, the criteria that must be met by the energy source of the future is presented from the point of view of the authors. Sustainability, high energy content and combustion independence are recognized as the main decisive factor of future fuels, which are all met by hydrogen, consequently the application of fuel cells as combustion free direct energy converters of the future. Fuel cell technology as an alternative to heat engines is discussed in the context of the current status of fuel cells in various applications. Finally, the challenges facing fuel cell technology to replace heat engines from the commercial and research points of view are presented and discussed supported by current trends in the industry. It is concluded that there have been several advancements and breakthrough in materials, manufacturing and fabricating techniques of fuel cells since the eighties, many of these challenges which are associated with cost and durability still exist when compared with the already matured technology of internal combustion engines. Any effort to achieve these goals would be a significant contribution to the technology of the fuel cell.