Hydrogen Fueling Station Market Report 2023: Growing Private and Public Investments in Hydrogen Fueling Station Deployments Boost Sector
DUBLIN, April 14, 2023 /PRNewswire/ — The “Hydrogen Fueling Station Market by Supply Type, Station Size (Small Stations, Mid-Sized Stations, Large Stations), Station Type (Fixed Hydrogen Stations, Mobile Hydrogen Stations), Pressure, Solution (EPC, Components) and Region – Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The global hydrogen fueling station market is estimated to grow from USD 380 Million in 2023 to USD 1,129 Million by 2030; it is expected to record a CAGR of 16.8% during the forecast period.
Increasing initiatives to curb the greenhouse gas emissions from the mobility sector leads to an increase in the demand for renewable hydrogen fuel which drives the hydrogen fueling station market.
Off-site: The segment is expected to account for the largest market share of the hydrogen fueling station market in 2022, by supply type
Based on supply type, the hydrogen fueling station market has been split into two types: off-site and on-site. The off-site was estimated to have the largest market share of the hydrogen fueling station market in 2022. The growth of the off-site segment can be attributed to the rapid development of technological methods for the delivery of hydrogen through pipelines and carriers.
The high-Pressure segment is expected to dominate the hydrogen fueling station market based on pressure
By pressure, the hydrogen fueling station market has been segmented into high-pressure and low-pressure. The high-pressure segment is expected to hold the largest share of the hydrogen fueling station market in 2022 and grow at a faster rate during the forecast period. Rising trends in shared mobility and increased demand for light-duty vehicles especially fuel-cell passenger cars is expected to drive the growth of the high-pressure segment.
By Solution, the engineering, procurement, and construction (EPC) segment is expected to be the fastest-growing market during the forecast period
Based on the Solution, the hydrogen fueling station market is segmented into engineering, procurement, and construction (EPC), and components. The engineering, procurement, and construction (EPC) segment is expected to be the fastest-growing segment during the forecast period. The key factors such as the growing adoption of fuel cell vehicles and the rising construction of hydrogen fueling station are expected to drive the EPC segment during the forecast period.
Europe is expected to be the second fastest-growing region in the hydrogen fueling station market
Europe is expected to be the second fastest hydrogen fueling station market during the forecast period. Several factors contribute to this growth, including population growth, urbanization, and rising standards of living. As a result, the government is working towards the mitigation of carbon emissions which leads to increasing investment of generating hydrogen from renewables to achieve carbon neutral future. These are a few of the key factors expected to fuel the growth of the hydrogen fueling station market in the region
- Growing Private and Public Investments in Hydrogen Fueling Station Deployment
- Growing Adoption of Fuel Cell Electric Vehicles
- Significant Initial Investment Requirements
- Underdeveloped Hydrogen Infrastructure
- Government Initiatives to Accelerate Deployment of Hydrogen Fueling Stations
- Risk Assessment and Safety Measures for Fueling Stations
Key Benefits of Buying the Report
- The growing adoption of fuel cell vehicles and increasing public and private investments in hydrogen fueling station deployment are some of the main factors driving the market. Factors such as significant initial investment requirements to construct a hydrogen refueling station and the underdeveloped hydrogen infrastructure in some countries still restrain the market. Increased government mandates for upgrading hydrogen fueling stations and growing initiatives to accelerate hydrogen deployment provide opportunities for the hydrogen fueling station market to grow. Even though safety measures and risk assessment in hydrogen fueling stations are major challenges faced impacting the growth of the hydrogen fueling station market.
- Product Development/ Innovation: The future of the hydrogen fueling station market looks bright as they become less expensive due to improvements in onsite supply type especially through the electrolysis method. The electrolysis provides clean hydrogen for fueling vehicles. Additionally, the safety and risk assessed is low in onsite hydrogen supply through electrolysis compared to off-site.
- Market Development: Renewable energy sources are becoming increasingly important in the hydrogen infrastructure. Renewables include sources such as solar, wind, hydro, geothermal, and biomass, among others. The Asia Pacific (MEA) hydrogen fueling station market is expected to experience significant growth in the coming years, driven by increasing investments in green hydrogen projects and the development of new hydrogen fueling infrastructure.
- Market Diversification: McPhy Energy S.A. launched an “Augmented McFilling” hydrogen fueling station. It can be used to power heavy-duty hydrogen-powered vehicles. It reduces the customer’s operating costs and environmental impact.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Hydrogen Fueling Station Market, by Supply Type
188.8.131.52 Increasing Demand for Pure Hydrogen to Propel Utilization of Electrolyzers for Hydrogen Production
6.2.2 Steam Methane Reforming (Smr)
184.108.40.206 Need for Cost-Efficient Hydrogen Production to Lead to Adoption of Smr
220.127.116.11 Need for Cost-Efficient Storage and Dispensing of Hydrogen to Boost Segment Growth
18.104.22.168 Economies of Scale Achieved Through Transportation of Liquid Hydrogen to Drive Segment
7 Hydrogen Fueling Station Market, by Station Type
7.2 Fixed Hydrogen Stations
7.2.1 Government Investments and Initiatives to Deploy Hydrogen Fueling Stations to Support Market Growth
7.3 Mobile Hydrogen Stations
7.3.1 Growing Demand for Portable Fueling Units to Power Fuel Cell Vehicles to Fuel Market Expansion
8 Hydrogen Fueling Station Market, by Station Size
8.2 Small Stations
8.2.1 Cost-Efficient Operations of Small Stations to Fuel Demand in Emerging Markets
8.3 Mid-Sized Stations
8.3.1 Focus on Decarbonizing Transportation Sector to Drive Market Growth
8.4 Large Stations
8.4.1 Focus on Advancing Hydrogen Infrastructure to Propel Demand for Large Hydrogen Stations
9 Hydrogen Fueling Station Market, by Pressure
9.2 Low Pressure
9.2.1 Rising Demand for Fuel Cell Buses and Trucks to Boost Segmental Landscape
9.3 High Pressure
9.3.1 Growing Demand for Hydrogen-Powered Light-Duty Vehicles to Boost Market
10 Hydrogen Fueling Station Market, by Solution
10.2.1 Government Investments and Initiatives to Deploy Hydrogen Fueling Stations to Induce Demand for Epc Solutions
10.2.2 By Site Engineering & Design
10.2.3 By Permitting
10.2.4 By Construction
10.2.5 By Commissioning
10.2.6 By Project Management & General Overhead
10.3.1 Hydrogen Inlets
10.3.1.1 Off-Site Generation of Hydrogen to Induce Demand for Hydrogen Inlets
10.3.2.1 Rising Demand for Simple Storage and Distribution of Hydrogen to Generate Demand for Compressors
10.3.3 Hydraulic Power Units and Controls
10.3.3.1 Adoption of Control Devices for Safe Operation of Hydrogen Fueling Stations to Boost Market
10.3.4 Dispensing Chiller Systems
10.3.4.1 Increasing Demand for Short Refueling Time to Boost Demand for Chiller Systems
10.3.5 Storage Units
10.3.5.1 Growing Demand for Storage of Hydrogen in Various Forms to Generate Demand for Storage Units
10.3.6.1 Need for Accurate Pressure and Controlled Flow Rate in Hydrogen Fueling Stations to Propel Demand for Dispensers
11 Hydrogen Fueling Station Market, by Region
12 Competitive Landscape
13 Company Profiles
- Air Liquide
- Air Products and Chemicals, Inc.
- Chart Industries
- Galileo Technologies S.A.
- Humble Hydrogen
- Hydrogen Refueling Solutions
- Hydrogenious Lohc Technologies
- Ingersoll Rand
- Iwatani Corporation
- Linde plc
- Mcphy Energy S.A.
- Nanosun Limited
- Nel Asa
- Nikola Corporation
- Pdc Machines
- Peric Hydrogen Technologies Co. Ltd
- Powertech Labs Inc.
- Sera GmbH
For more information about this report visit https://www.researchandmarkets.com/r/hls758
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