Reports - Hydrogen Fueling Station Market
Hydrogen Fueling Station Market Size, Share & Trends Analysis Report by Station size (Small Stations, Mid-sized Station, Large Stations) by Supply Type (Off-site, On-site) by Pressure (High Pressure, Low Pressure) by Station Type (Fixed Hydrogen Stations, Mobile Hydrogen Stations) by Solution (Engineering, Procurement & Construction (EPC), Components) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2017 - 2022) & Forecast (2023 - 2030)
Industry Leaders Trust Us For Actionable Intelligence
2035
24.15%
Asia Pacific
Asia Pacific
2019 - 2023
2023 - 2035
The final deliverable will encompass both quantitative and qualitative data, providing a comprehensive analysis of the market. The scope is customizable.
The global Hydrogen Fueling Station Market is valued at USD 0.50 Billion in 2022 and is projected to reach a value of USD 5.395 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 24.15% between 2023 and 2030.
Premium Insights
A hydrogen station is a storage or filling facility for hydrogen fuel. Hydrogen is measured by weight. Two commonly used filling pressures are H70 or 700 bar and the older standard H35, or 350 bar. As of 2021, there were approximately 550 gas facilities available worldwide. To effectively dispense hydrogen at the requisite rates, a variety of handling and processing equipment is required to install a new hydrogen fueling station. Diverse manufacturers of scale components have disclosed substantial efforts to enhance their manufacturing capacities and implement innovative systems that will create new growth opportunities for the global hydrogen fueling station market. In May 2022, for instance, Lotte Chemical and Air Liquide Korea partnered to expand the hydrogen supply chain for vehicles in South Korea. In Ulsan and Daesan, the corporations will invest in developing large-scale hydrogen fueling stations.
Various nations have enacted stringent regulations to limit GHG emissions in the short-, medium-, and long terms in response to rising carbon emission levels. The enormous goals set by national and regional governments worldwide have increased the emphasis on deploying low-carbon technologies, thereby boosting the demand for FCEVs and expanding the size of the global market. Yoshihide Suga, the former prime minister of Japan, pledged in April 2021 to achieve a 46% reduction in greenhouse gas emissions from 2013 levels by 2030. Similarly, on 22 October 2021, Japans Prime Minister Fumio Kishida accepted Japans Sixth Strategic Energy Plan, which memorialized the 2050 carbon neutrality pledge and included objectives for energy produced from hydrogen sources to account for 1 percent of Japans total power generation by 2030.
The increasing consumer interest in deploying various types of zero-emission vehicles offers new opportunities for the global market. Diverse small- and large-scale automotive manufacturers have introduced new initiatives to increase FCEV placement and support the automotive industrys decarbonization transition. According to a study published in March 2022 by the National Renewable Energy Laboratory of the U.S. Department of Energy, continuous improvements to zero-emission vehicles and fuel technologies will make green trucks more affordable and accessible over the next decade. Increased use of fuel-cell electric vehicles in the haulage industry will contribute to the decarbonization of the U.S. transportation sector, advance the adoption of electric vehicles, combat the climate crisis, and bolster domestic manufacturing.
Economic Insights
In light of escalating tensions between Russia and Ukraine, the entire economy is preparing for the repercussions of this major conflict. The anticipated Russian invasion will likely have calamitous effects on economic growth and development. The issue threatens global growth and prosperity at a moment when the goal is to reach a GDP of $100 trillion by 2022. Despite concerted efforts to reach an agreement, it is likely that the economic trajectory will be negatively impacted. The world awaits the outcome of this situation with bated breath.
Top Market Trends
Market Segmentation
The global Hydrogen Fueling Station market can be categorized on the following: Station Size, Supply Type, Pressure, Station Type, Solution, and Regions. Based on Station Size, the market can be categorized into Small Stations, Mid-sized Station, and Large Stations. Additionally, by Supply Type, the market can be split between Off-site and On-site. Moreover, by Pressure, the market can be differentiated between High Pressure and Low Pressure. Additionally, by Station Type, the market can be split into Fixed Hydrogen Stations and Mobile Hydrogen Stations. Additionally, by Solution, the market can be segregated into Engineering, Procurement, and Construction (EPC) and Components. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Based on Station Size
Small Size Stations to Account Maximum Share due to Rising Number of Hydrogen Powered Vehicles
As a result of the exponential increase in the number of hydrogen-powered passenger and light commercial vehicles, the tiny category is experiencing a significant rise. The expanding efforts to modernize the public transportation fleet with technologies that produce less carbon is anticipated to encourage the expansion of the medium station market. 2022 will see huge hydrogen fuelling retail stations continue to be influenced by large-scale trends.
Based on Supply Size
On-Site Stations to Increase in Installations due to Rising Investments in Clean Energy Stations
The on-site segment is anticipated to be the market segment with the highest growth rate over the period covered by the forecast. The electrolysis of water on site allows for the creation of hydrogen, which the governments of several nations are utilizing as part of their efforts to transition away from less environmentally damaging fuels. The increasing investments in clean hydrogen are responsible for expanding the onsite segment.
Based on Solution
Components to Play a Pivotal Role in Growth owing to Developing Push Towards Infrastructure
During the period covered by the forecast, it is anticipated that the components segment will represent the most revenue. The infrastructure of the Hydrogen Fueling Station requires components that play an essential role. Compression technology that makes hydrogen storage and delivery simple and efficient in terms of cost will probably be supported by the growth of the components segment.
Based on Region
Asia Pacific to be at the Forefront of Development owing to the Presence of Emerging Economies
In the future, Asia-Pacific is anticipated to hold the largest share of the global hydrogen fueling station market. China, Japan, and South Korea are among the major nations that have presented ambitious deployment goals for hydrogen fuel cell vehicles and a positive road map for establishing HRS facilities. Japan is among the worlds fastest-growing nations, as the number of hydrogen fueling stations has exploded.
The European Unions carbon reduction policies, national renewable energy goals, and the decarbonization of bus fleets are among the main factors driving market expansion in the region. Additionally, numerous regional organizations are making substantial investments to promote the adoption of hydrogen fuel among consumers. In March 2021, for instance, OrangeGas, a Dutch fueling station company, announced the opening of Amsterdams first hydrogen fueling station. The hydrogen fueling station will provide renewable hydrogen and feature a dual-pressure design with 350 bars and 750 bars for various vehicles.
Competitive Landscape
There is great competition in the worldwide market, and several companies are active at various stages of the supply chain. The companies in this business place a significant emphasis on introducing new components, including as tanks and compressors, for vehicles and HRS facilities to expand their customer base. In addition to that, the organizations are focused on their efforts.
The key players in the global Hydrogen Fueling Station market include - Air Liquide (France) among others.
Recent Market Developments
Segmentation of the Global Hydrogen Fueling Station Market
Source: www.vantagemarketresearch.com
Parameter | Details | |
---|---|---|
Segment Covered |
| |
Regions & Countries Covered |
| |
Companies Covered |
| |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis | |
Pricing and purchase options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
Base Year
Historic Year
NaN - NaN
Forecast Year
NaN - NaN
Contact
Toll Free Number+1 (877) 462-2282