Hydrogen Fueling Station Market Projected to Reach USD 1.35 billion by 2032 , at a 17.30% CAGR – Report by Market Research Future (MRFR)
Market Research Future
Updated 7 min read
Market Research Future
Hydrogen Fueling Station Market Growth Boost by Growing Government Funding for Hydrogen Refueling Infrastructure, and Rise in Global Demands
New York, US, June 09, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Hydrogen Fueling Station Market Research Report Information By Station Size, Supply Type, Pressure, Station Type, Solution, and Region – Market Forecast Till 2032”, The hydrogen fueling station market size was estimated at USD 0.32 billion in 2022. A compound annual growth rate (CAGR) of 17.30% is anticipated for the hydrogen fueling station market, which is expected to increase from USD 0.38 billion in 2023 to USD 1.35 billion by 2032.
Hydrogen Fueling Station Industry Overview:
Government regulations and laws have been implemented to encourage the use of hydrogen fuel cell vehicles and to fulfil the rising demand for zero-emission vehicles, which are the major market drivers accelerating industry expansion.
One of the most significant substitutes for conventional energy sources and a crucial component of the push for decarbonizing transportation and sustainable mobility is green hydrogen, which is produced by electrolyzing renewable power.
Since hydrogen is the most prevalent chemical element in nature and hydrogen-powered cars have been on the market for more than ten years, using hydrogen produced from renewable electricity, or "green hydrogen," is the next logical step.
The key benefits of this kind of car are that they provide more autonomy and rely less on the battery and, unlike conventional electric vehicles, refuelling times are comparable to those of combustion vehicles. However, the hydrogen station network must be developed in order for this to become a reality.
Hydrogen Fueling Station Market Competitive Analysis
The catalog of the top leaders across the global Market for Compressed Air Treatment Equipment includes players such as:
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,
Galileo Technologies S.A.
Among others.
Hydrogen Fueling Station Market USP Covered
Hydrogen Fueling Station Market Drivers
The rising demand for zero-emission vehicles, along with government initiatives and laws meant to encourage the adoption of hydrogen fuel cell vehicles, are the main factors driving the growth of the hydrogen filling station industry.
Report Scope:
Report Metrics
Details
Market Size 2032
2032: USD 1.35 Billion
CAGR during 2023-2032
17.30% CAGR
Base Year
2022
Forecast
2023-2032
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Station Size, Supply Type, Pressure, Station Type, Solution, and Region
Key Market Opportunities
Government initiatives to deploy hydrogen deployment
Key Market Dynamics
Increasing demand for zero-emission vehicles and government initiatives and policies aimed at promoting the adoption of hydrogen fuel cell vehicles
Browse In-depth Market Research Report (128 Pages) onHydrogen Fueling Station Market:
Hundreds of hydrogen facilities are being planned by governments around the world. According to their projected efforts, 1,000 hydrogen stations that can accommodate 1 million to 2 million fuel cell vehicles may soon be present in the major Asian, European, and North American markets. The transport sector is responsible for more than 15% of global greenhouse gas emissions. As a result, governments everywhere are looking for alternate energy sources to utilise in the transportation industry. In the coming years, it's expected that fuel cell vehicles (FCVs), which produce no CO2 while being driven, would become more and more common. As a result, numerous automakers are working to expand their inventory of fuel cell vehicles. As part of the global effort, at least 30% of new electric.
There is increasing interest in fuel cell vehicles as potential substitutes for petrol and diesel automobiles as more nations establish goals to cut their carbon emissions and improve air quality. Vehicles powered by hydrogen fuel cells are popular among both consumers and lawmakers since they release just water and don't contribute to hazardous air pollution. The market for hydrogen filling stations is expanding as a result of government programmes like as tax incentives, subsidies, and regulations that encourage the use of zero-emission automobiles. For instance, nations like Japan, South Korea, Germany, and the United States place a high priority on the adoption of hydrogen fuel cell vehicles, and these nations are making significant investments in the creation of hydrogen infrastructure.
Hydrogen Fueling Station Market Segmentation Analysis:
Market segments for hydrogen fueling stations include size, supply type, pressure, station type, solution, and geography.
Small stations, mid-sized stations, and big stations make up the different size categories of hydrogen fueling stations. The small stations market segment dominated the global market in 2022. Hydrogen consumption is increasing as more public and private fuel cell vehicles are powered.
The Hydrogen Fueling Station Market is divided into two categories based on the kind of supply: off-site and on-site. The major segment right now is off-site. Governments all around the world are leading the transition to clean and environmentally favourable fuels, which is made possible by the production of hydrogen off-site.
The market for hydrogen fueling stations is divided into high pressure and low pressure categories based on pressure. A sizeable percentage of the global market is made up of high pressure categories. This is so that autos may simply be filled with hydrogen.
The Hydrogen Fueling Station Market is divided into fixed hydrogen stations and mobile hydrogen stations based on station type. The category of stationary hydrogen stations ruled the global market in 2022.
The Hydrogen Fueling Station Market is divided into components and Engineering Procurement and Construction (EPC) by solution. The components category is likely to be the largest during the anticipated period. Components are required in the infrastructure for hydrogen fueling stations. It is anticipated that compression-based hydrogen supply and storage would encourage the rise of the component industry.
Hydrogen Fueling Station Market Regional Analysis:
The analysis offers market insights for North America, Europe, Asia-Pacific, and the rest of the world, by region. In 2022, the market for hydrogen fueling stations in the Asia Pacific region held the majority (45.80%). A number of countries in the Asia Pacific are either preparing experimental projects for the technology or developing electrolyzer-based hydrogen filling stations on a significant scale. In the Asia Pacific region, particularly in South Korea and Japan, more money has been invested in pilot projects, feasibility studies, and the construction of new hydrogen filling stations. These factors are expected to enhance the demand for hydrogen fueling stations in the area. Additionally, the Indian Hydrogen Fueling Station market was the largest and China's Hydrogen Fueling Station market had the largest market share.
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