Hydrogen Fueling Station Market to Reach $22 Billion, Globally, by 2035 at 35.4% CAGR: Allied Market Research

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Sep 08, 2022, 07:30 ET

PORTLAND, Ore., Sept. 8, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, 'Hydrogen Fueling Station Market by Station Type (Small, Medium, Large), by Vehicle Type (Passenger Cars, Commercial Vehicles), by Vehicle Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells, Others), by Delivery Methods (On-Site, Off-Site): Global Opportunity Analysis and Industry Forecast, 2025-2035.' As per the report, the global hydrogen fueling station industry is valued at $1.1 billion in 2025, and is expected to reach $22 billion by 2035, growing at a CAGR of 35.4% from 2025 to 2025. The report offers a detailed analysis of top segments, changing market trends, value chain, key investment pockets, regional landscape, and competitive scenario.

Major determinants of the market growth

Strict government regulations to control ever-increasing pollution, surge in R&D activities regarding hydrogen fuel cell technology, and high suitability of hydrogen as fuel have boosted the growth of the global hydrogen fueling station market. However, dearth of fuel infrastructure and high initial cost hinder the market. On the contrary, technological development and high potential in hydrogen fuel cell vehicles along with rise in investment & encouragement in administrative policy framework would open lucrative opportunities in the future.

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Covid-19 scenario:

The Covid-19 severely impacted the automotive industry due to prolonged lockdown across the globe and economic crisis that led to reduction in expenditure on next-generation technologies.
Major European countries followed the strict protocols of social distancing measures so as to curb the spread of the virus. This, in turn, reduced the sales of fuel cell electric vehicles.

The small segment to dominate the market

By station type, the small segment is projected to hold the largest share in 2025, accounting for more than four-fifths of the global hydrogen fueling station market. This is due to its gaining traction among developing countries because of the under developing infrastructure for advanced vehicles across these countries. However, the large segment is expected to showcase the highest CAGR of 42.1% from 2025 to 2035, due to increased demand for alternate fueled vehicles and increase in government initiatives to support emission-free vehicles.

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The commercial vehicles segment to portray the highest CAGR through 2031

By vehicle type, the commercial vehicles segment is projected to manifest the highest CAGR of 36.7% from 2025 to 2035. This is due to increase in demand for zero emission vehicles and better and efficient hydrogen fueled commercial vehicle. Moreover, various retail MNCs and logistics fleet operators are shifting to hybrid commercial vehicles attributed to rise in demand for logistics services on account of expanding e-commerce, retail, and manufacturing industries. The supply chain and logistics companies are actively participating in replacing their fleet with greener vehicles which eventually leads to the growth of the segment in the global market. However, the passenger cars segment is expected to garner the largest share in 2025, accounting for nearly three-fourth of the global hydrogen fueling station market. This is attributed to developments carried out by different vehicle manufacturers related to alternate fuel vehicles.

The mining segment to manifest the highest CAGR through 2031

By vehicle technology, the others segment is estimated to register the highest CAGR of 37.9% during the forecast period. This is due to increase in awareness regarding clean energy and demand for zero emission energy sources and strict environmental regulations. However, the proton exchange membrane fuel cell segment to dominate the market in terms of revenue in 2025, contributing to more than two-fifths of the global hydrogen fueling station market, owing to rise in investment in R&D from many universities, government organizations.

Asia-Pacific to hold the highest share

By region, the global hydrogen fueling station market across Asia-Pacific to record largest share in 2025, accounting for more than two-fifths of the market, and is expected to maintain the leading position during the forecast period. This is due to high proportion of electric vehicles & demand for hydrogen vehicles in the total vehicle production in this region. However, the market across Europe is anticipated to showcase the highest CAGR of 38.2% during the forecast period, due to rise in usage in industrial activities for zero emission vehicles, hydrogen fuel cells, and hydrogen fueling stations.

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Major market players

Air Liquide
Air Products and Chemicals, Inc.
Ballard Power Systems
Black and Veatch Holding Company
China Petrochemical Corporation
Cummins Inc.
FirstElement Fuel, Inc.
FuelCell Energy, Inc.
H2ENERGY SOLUTIONS LTD
ITM Power PLC
NEL ASA
Nuvera Fuel Cells, LLC
PDC Machines Inc.
Shell
Linde PLC
TotalEnergies
TrueZero

The report analyzes these key players of the global hydrogen fueling station market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Interested to Procure the Data with Actionable Strategy & Insights? Inquire here at https://www.alliedmarketresearch.com/purchase-enquiry/8866

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