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Hydrogen Fueling Station Market worth $1.8 billion by 2030 | MarketsandMarkets™


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MarketsandMarkets

Aug 15, 2024, 06:55 ET

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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™.

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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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Green Hydrogen Market by Technology (Alkaline and PEM), Renewable source (Wind, Solar), End-use Industry (Mobility, Power, Chemical, Industrial, Grid Injection), and Region (North America, Europe, APAC, MEA, & Latin America) - Global Forecast to 2030

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Get access to the latest updates on Hydrogen Fueling Station Companies and Hydrogen Fueling Station Industry Growth

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:

Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected] 
Visit Our Website: https://www.marketsandmarkets.com/

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SOURCE MarketsandMarkets

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