Market Research Future (MRFR) has published a cooked research report on the “Hydrogen Fueling Station Market” that contains information from 2018 to 2032. The Hydrogen Fueling Station Market is estimated to register a CAGR of 17.30% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Hydrogen Fueling Station Market — Air Liquide, Air Products and Chemicals, Inc., Linde plc, Nel ASA, McPhy Energy S.A., Ingersoll Rand, Hydrogen Refueling Solutions, PERIC Hydrogen Technologies Co., Ltd, Chart Industries, Iwatani Corporation, Powertech Labs Inc., PDC Machines, sera GmbH, Hydrogenious LOHC Technologies, atawey, and Galileo Technologies S.A., H2 MOBILITY, NanoSUN Limited, Nikola Corporation, and Humble Hydrogen.
Hydrogen Fueling Station Market Highlights
The global Hydrogen Fueling Station Market is accounted to register a CAGR of 17.30% during the forecast period and is estimated to reach USD 1.35 Billion by 2032.
The hydrogen fueling station market refers to the infrastructure and facilities that enable vehicles powered by hydrogen fuel cells to refuel. These fueling stations play a crucial role in the adoption of hydrogen-powered vehicles as they provide the necessary fuel for these vehicles to operate. Hydrogen fuel cells are a form of clean energy technology that converts hydrogen gas into electricity, emitting only water vapor and heat as byproducts.
Segment Analysis
The global Hydrogen Fueling Station Market has been segmented based on Station Size, Supply Type, and Pressure.
The Hydrogen Fueling Station Market segmentation, based on Station Size, includes small stations, mid-sized stations, and large stations. In 2022, the small stations category dominated the world market. As more public and private fuel cell vehicles are fueled, there is a rising demand for hydrogen. Operators need more space to recharge fuel cell cars, therefore tiny hydrogen stations are growing into medium-sized hydrogen stations.
The Hydrogen Fueling Station Market segmentation, based on Supply Type, includes off-site and on-site. Off-site category is currently the largest segment. The transition to clean and environmentally friendly fuels is being spearheaded by governments worldwide, and this is being made possible by the off-site production of hydrogen. Rising investments in environmentally friendly hydrogen projects and a preference for zero-carbon fuel to power fuel cell vehicles are both responsible for the expansion of the off-site market.
The Hydrogen Fueling Station Market segmentation, based on Pressure, includes high pressure and low pressure. High pressure category account for a sizable portion of the global market. This is because hydrogen can be easily refilled in automobiles. Additionally, hydrogen stations with high pressure can serve more customers in less time.
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Regional Analysis
The global Hydrogen Fueling Station Market, based on region, has been divided into North America, Europe, Asia-Pacific and Rest of the World. The Asia Pacific Hydrogen Fueling Station market dominated this market in 2022 (45.80%). A number of nations in the Asia Pacific are developing electrolyzer-based hydrogen filling stations on a large scale or planning trial projects for the technology.
As a result, there have been more investments made in pilot projects, feasibility studies, and new hydrogen fueling station deployments around the Asia Pacific, particularly in South Korea and Japan. The market for hydrogen fuelling stations in the area is anticipated to increase as a result of these factors. Moreover, China’s Hydrogen Fueling Station market held the largest market share, and the Indian Hydrogen Fueling Station market was the fastest growing market in the Asia-Pacific region.
Europe Hydrogen Fueling Station market accounts for the healthy market share. The decarbonization of bus fleets, national renewable energy objectives, and EU carbon reduction initiatives are some of the major drivers of market expansion in the area. Additionally, a number of regional organisations are making large investments to encourage consumers to use hydrogen fuel. Further, the German Hydrogen Fueling Station market held the largest market share, and the U.K Hydrogen Fueling Station market was the fastest growing market in the European region
The North America Hydrogen Fueling Station Market is expected to register significant growth from 2023 to 2032. Tax advantage laws, the presence of diverse sized businesses, technological improvements, and committed R&D projects all favour North America. Additionally, thanks to favourable laws, countries like the U.S. and Canada have seen a significant rise in the number of HRS with the development of new facilities. Further, the U.S. Hydrogen Fueling Station market held the largest market share, and the Canada Hydrogen Fueling Station market was the fastest growing market in the North America region.
Key Findings of the Study
- The global Hydrogen Fueling Station Market is expected to reach USD 1.35 Billion by 2032, at a CAGR of 17.30% during the forecast period.
- The Asia Pacific Hydrogen Fueling Station market dominated this market in 2022 (45.80%). A number of nations in the Asia Pacific are developing electrolyzer-based hydrogen filling stations on a large scale or planning trial projects for the technology.
- The Hydrogen Fueling Station Market segmentation, based on Station Size, includes small stations, mid-sized stations, and large stations. In 2022, the small stations category dominated the world market.
- Air Liquide, Air Products and Chemicals, Inc., Linde plc, Nel ASA, McPhy Energy S.A., Ingersoll Rand, Hydrogen Refueling Solutions, PERIC Hydrogen Technologies Co., Ltd, Chart Industries, Iwatani Corporation, Powertech Labs Inc., PDC Machines, sera GmbH, Hydrogenious LOHC Technologies, atawey, and Galileo Technologies S.A., H2 MOBILITY, NanoSUN Limited, Nikola Corporation, and Humble Hydrogen.
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Companies Covered | 15 |
Pages | 128 |
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