CHICAGO, Aug. 15, 2024 /PRNewswire/ -- Hydrogen Fueling
Station Market in terms of revenue was estimated to be
worth $0.5 billion in 2024 and is
poised to reach $1.8 billion by 2030,
growing at a CAGR of 23.8% from 2024 to 2030 according to a new
report by MarketsandMarkets™.
Governments worldwide are implementing stringent environmental
regulations and setting ambitious climate goals to reduce carbon
emissions. Hydrogen, being a clean and renewable energy source,
plays a crucial role in achieving these targets. Policies promoting
the use of hydrogen as a fuel, along with incentives and subsidies
for hydrogen infrastructure, are driving the growth of hydrogen
fueling stations. In addition to this, Major automotive
manufacturers are increasingly investing in hydrogen fuel cell
vehicles (FCVs) as a sustainable alternative to traditional
internal combustion engine vehicles and battery electric vehicles
(BEVs).
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Browse in-depth TOC on "Hydrogen Fueling Station
Market"
321 - Tables
63 - Figures
299 -
Pages
Hydrogen Fueling Station Market Scope:
Report
Coverage
|
Details
|
Market Revenue in
2024
|
$0.5 billion
|
Estimated Value by
2030
|
$1.8 billion
|
Growth Rate
|
Poised to grow at a
CAGR of 23.8%
|
Market Size Available
for
|
2020–2030
|
Forecast
Period
|
2024–2030
|
Forecast
Units
|
Value (USD Million) and
Volume (Units)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Hydrogen Fueling
Stations Market by station size, by pressure, by station type, by
solution, by supply type and region.
|
Geographies
Covered
|
Europe, Asia Pacific,
North America, South America and Middle East
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Government initiatives
to accelerate the deployment of hydrogen fueling
stations
|
Key Market
Drivers
|
Hundreds of hydrogen
plants are in development by governments worldwide.
|
Fixed Hydrogen Stations, by station type, are expected to be
the largest-growing segment during the forecast period.
The by station size segment is bifurcated into 2 types Fixed
Hydrogen Stations and Mobile Hydrogen Stations. In most cases,
fixed hydrogen stations have higher storage and dispensing capacity
than their mobile station counterparts, which helps them meet the
high demands in busy areas. Fixed stations can be fitted into the
existing infrastructure of fueling stations, such as conventional
gas stations, thereby making them more accessible and convenient
for consumers. Besides, fixed stations offer a stable and reliable
supply of hydrogen gas without the logistical complications
involved in the transportation of the mobile units from one
location to another. Moreover, fixed stations are usually provided
with much more support and incentives from the government,
including subsidies, grants, and favorable regulations, in order to
motivate them to develop and deploy.
Components, by solution, is expected to be the
largest-growing segment during the forecast period.
The by solution segment is further bifurcated into 2 types: EPC
and Components. The Continuous improvements in component
technologies make them more efficient, reliable, and thus more
attractive than EPC services. Mass production and economies of
scale in component manufacturing have cut down on their costs
significantly, hence making them more affordable and preferable to
complete EPC packages. Components offer more flexibility to tune in
to the individual needs of projects; independent station operators
are thus better positioned to have their tailored solutions without
having to be locked into one EPC provider. Ordering individual
components normally brings shorter lead times compared to arranging
comprehensive EPC services, thus shaving off a few weeks or even
months from a project timeline and quickening overall deployment.
Moreover, Components can easily be integrated into existing
infrastructure to provide incremental upgrades and expansions,
rather than requiring total replacement.
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Asia Pacific is expected to
be the largest region during the forecast period.
Countries like Japan, Korea,
and China in the Asia Pacific region are home to major
automobile manufacturers like Toyota, Hyundai, and Honda at the
front line of hydrogen fuel cell vehicle technology. Their
leadership in this commitment keeps them at the forefront in
stimulating the demand for hydrogen fueling stations to support
their vehicles. Moreover, the Asia
Pacific countries suffer more from air pollution and hence
are more willing to use clean energy solutions. Hydrogen, being a
zero-emission fuel, gives them impetus on environmental grounds,
resulting in more support for hydrogen fueling stations compared to
those regions where the problem of pollution is not that grave.
Nations like Japan and
South Korea have drafted national
strategies for hydrogen, clearly stipulating the objectives and
roadmaps to develop hydrogen infrastructure. This sets a structured
approach toward the rollout of hydrogen fueling stations, ensuring
coordinated efforts across different sectors. The rapid
urbanization and industrialization underway in the Asia Pacific region spur demand for clean
energy solutions. The hydrogen fueling stations are part of a
broader effort. These would serve two important functions:
supportable urban development and the fulfillment of energy needs
for increasing industrial sectors.
Key Players
Some of the major players in the Hydrogen Fueling Stations
Market are Air Liquide (France), Linde PLC (Ireland), Air Products and Chemicals, Inc.
(US), Nel ASA (Norway), MAXIMATOR Hydrogen GmbH (Germany) and Hydrogen Refueling Solutions
(France) among others. The major
strategies adopted by these players include new product launches,
acquisitions, contracts, agreements, partnerships, joint ventures,
collaborations, investments, and expansions.
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Get access to the latest updates on Hydrogen Fueling Station
Companies and Hydrogen Fueling Station Industry
Growth
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