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The Hydrogen Fueling Station Market size was valued at USD 385 million in 2023 and is expected to grow to USD 1394.1 million by 2032 and grow at a CAGR of 15.37% over the forecast period of 2024-2032.
The hydrogen fueling station market is similar to a conventional petrol station in layout but there are some additional components present in the hydrogen fueling station that are needed to deal with the unique characteristics of hydrogen and fuel-cell-powered vehicles. The hydrogen fueling station market contains Hydrogen source storage, compressor, High-pressure buffer storage, refrigeration unit, and dispenser.
There is no such difference between the process of fueling at a hydrogen station and a conventional petrol station. But in the case of a hydrogen fueling station, hydrogen is supplied at high pressure and as it is an extremely volatile gas, the connection between the connection point of the vehicle and the pump must be watertight. The hydrogen is pumped into the vehicle's fuel tank, which powers the fuel cell that generates the electricity needed to drive the vehicle. The only waste product produced is water vapor, which is expelled through the exhaust pipe.
Drivers
Rising pressure of decreasing carbon emission.
Increasing adoption of fuel-cell or hydrogen-powered vehicles across the globe
Shifting of focus toward the adoption of low-carbon technologies
growing consumer awareness of the need to reduce Greenhouse Gas (GHG) emissions and focus on the sustainable energy source
Stringent government action to reduce pollution
Restrain
High initial investment in developing the station
Underdeveloped hydrogen infrastructure
Opportunities
Increase in the safety of hydrogen technology is likely to propel the market.
Increase in the investment in R&D activities of hydrogen fueling technologies.
Challenges
Risk assessment and safety precautions for fueling station.
The outbreak of COVID-19 largely affected the operation of the automotive industry and because of the economic crisis caused a reduction in the expenditure on next-generation technologies. That’s why hydrogen-powered vehicles have affected the hydrogen fueling station market. Moreover, a decreased demand and sale of fuel-cell electric vehicles impacted the hydrogen fueling station market globally. But the increase in the government initiative to curb carbon emissions and increase decarbonization technology driving the market post-COVID-19 pandemic.
The hydrogen fueling technique has become a major point for the government's efforts to reduce carbon emissions, especially in light of record-high temperatures and the disruption caused by Russia's invasion of Ukraine, a major oil and gas producer. In the wake of the conflict, the economics of green hydrogen has become increasingly attractive, as it offers a solution to the energy trilemma of security, affordability, and sustainability.
According to Michael Strusch, CEO of H2 Industries Inc, the global economy has been significantly impacted by the war in Ukraine, leading to a surge in demand for green hydrogen in the Middle East and North Africa region. As the world shifts towards cleaner and more sustainable sources of energy to combat climate change, green hydrogen is emerging as a crucial energy source for the future.
Impact of Recession:
The hydrogen fueling station market is responsible for providing fueling stations for hydrogen-powered vehicles, has experienced a decline in growth due to the economic downturn. The recession has led to a decrease in consumer spending, which has affected the demand for hydrogen-powered vehicles. As a result, the need for hydrogen fueling stations has also decreased. This has caused a slowdown in the growth of the hydrogen fueling station market. Furthermore, the recession has also affected the investment in the development of new hydrogen fueling stations. Many investors have become hesitant to invest in this market due to the economic uncertainty. This has resulted in a lack of funding for the development of new hydrogen fueling stations, which has further slowed down the growth of the market.
By Station Size
Small Station
Medium Station
Large Station
By Station Type
Fixed Hydrogen Station
Mobile Hydrogen Station
By Pressure
Low Pressure
High Pressure
By Solution
EPC
Component
By Supply Type
On-Site
Off-Site
Asia Pacific region dominated the market in 2021 with an approximate market share of 213 USD million and is expected to grow at a significant CAGR in the coming years. Various countries of this economy are planning to develop electrolyze-based hydrogen fueling stations. Due to this planning, there is an increase in investment toward pilot projects, new deployment of hydrogen fueling, and feasibility studies in the Asia Pacific region, especially in Japan and South Korea. All of these factors are helping to grow exponentially in this market. Moreover, the rapid adoption of heavy-duty and light-duty vehicles containing hydrogen-powered fuel has accelerated the growth hydrogen fueling station market across the globe.
Europe region is also anticipated to show visible growth during the forecast period owing to the application of carbon emission policies by the European Union and an increase investment in hydrogen fuel technologies.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The major players are Air Liquide, Air Products and Chemicals, Inc., Linde plc, Nel ASA, McPhy Energy S.A., Ballard Power System, First Element Fuel, Inc., hydrogenics, Praxair, Fuel Cell Energy, Nuvera Fuel Cell, and other key players will be included in the final report.
Recent Developments:
Matthieu Giard, Vice President and Executive Committee Member of the Air Liquide Group is a pioneer in the hydrogen industry. He firmly believes that hydrogen will play a crucial role in the energy transition, and Air Liquide is committed to achieving carbon neutrality by 2050. Hydrogen is the key to meeting this goal, as it can decarbonize heavy industry and revolutionize clean mobility.
In February 2023, Air Liquide and Total Energies announced their joint venture to develop a network of hydrogen stations for heavy-duty vehicles on major European road corridors. This initiative will facilitate access to hydrogen and strengthen the hydrogen sector, enabling the development of its use for goods transportation.
Linde plc is also making strides in the hydrogen industry, announcing the launch of an industrial-scale electrolyzer that will use hydroelectric power to produce green liquid hydrogen. This plant is set to begin operation by 2025 and will expand Linde's existing infrastructure and liquefier to supply both old and new customers. This project is the first of its kind in the U.S. and will fulfill the growing demand for green liquid hydrogen.
Overall, these developments in the hydrogen industry are exciting and promising. As more companies invest in hydrogen technology, we can expect to see significant progress in achieving a more sustainable future.
| Report Attributes | Details |
| Market Size in 2023 | US$ 385 Mn |
| Market Size by 2032 | US$ 1394.1 Mn |
| CAGR | CAGR of 15.37% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Station Size (Small station, Medium Station, Large Station) • By Station Type (Fixed Hydrogen Station, Mobile Hydrogen Station) • By Pressure (Low Pressure, High Pressure) • By Solution (EPC, Component) • By Supply Type (On-Site, Off-Site) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Air Liquide, Air Products and Chemicals, Inc., Linde plc, Nel ASA, McPhy Energy S.A., Ballard Power System, First Element Fuel,Inc., hydrogenics, Praxair, Fuel Cell Energy, Nuvera Fuel Cell |
| Key Drivers | • Rising pressure of decreasing carbon emission. • Increasing adoption of fuel-cell or hydrogen-powered vehicles across the globe |
| Market Opportunities | • Increase in the safety of hydrogen technology is likely to propel the market. • Increase in the investment in R&D activities of hydrogen fueling technologies. |
The Hydrogen Fueling Station Market is to grow at a CAGR of 15.37% From 2024 to 2031.
The Hydrogen Fueling Station Market Size is estimated to reach over USD 1181.7 million by 2031.
The major key players are Air Liquide, Air Products and Chemicals, Inc., Linde plc, Nel ASA, McPhy Energy S.A., Ballard Power System, First Element Fuel,Inc., hydrogenics, Praxair, Fuel Cell Energy, Nuvera Fuel Cell.
Asia Pacific region dominated the Hydrogen Fueling Station Market.
High initial investment in developing the station and Underdeveloped hydrogen infrastructure are the restraining factors of Hydrogen Fueling Station Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. By Station Size
8.1Small station
8.2Medium Station
8.3Large Station
9. By Station Type
9.1Fixed Hydrogen Station
9.2Mobile Hydrogen Station
10. By Pressure
10.1Low Pressure
10.2High Pressure
11. By Solution
11.1EPC
11.2Component
12. By Supply Type
12.1On-Site
12.2Off-Site
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 North America Hydrogen Fueling Station Market by country
13.2.2North America Hydrogen Fueling Station Market by Station Size
13.2.3 North America Hydrogen Fueling Station Market by Station Type
13.2.4 North America Hydrogen Fueling Station Market by Pressure
13.2.5 North America Hydrogen Fueling Station Market by Solution
13.2.6 North America Hydrogen Fueling Station Market by Supply Type
13.2.7 USA
13.2.7.1 USA Hydrogen Fueling Station Market by Station Size
13.2.7.2 USA Hydrogen Fueling Station Market by Station Type
13.2.7.3 USA Hydrogen Fueling Station Market by Pressure
13.2.7.4 USA Hydrogen Fueling Station Market by Solution
13.2.7.5 USA Hydrogen Fueling Station Market by Supply Type
13.2.8 Canada
13.2.8.1 Canada Hydrogen Fueling Station Market by Station Size
13.2.8.2 Canada Hydrogen Fueling Station Market by Station Type
13.2.8.3 Canada Hydrogen Fueling Station Market by Pressure
13.2.8.4 Canada Hydrogen Fueling Station Market by Solution
13.2.8.5 Canada Hydrogen Fueling Station Market by Supply Type
13.2.9 Mexico
13.2.9.1 Mexico Hydrogen Fueling Station Market by Station Size
13.2.9.2 Mexico Hydrogen Fueling Station Market by Station Type
13.2.9.3 Mexico Hydrogen Fueling Station Market by Pressure
13.2.9.4 Mexico Hydrogen Fueling Station Market by Solution
13.2.9.5 Mexico Hydrogen Fueling Station Market by Supply Type
13.3 Europe
13.3.1 Europe Hydrogen Fueling Station Market by country
1.3.3.2 Europe Hydrogen Fueling Station Market by Station Size
13.3.3 Europe Hydrogen Fueling Station Market by Station Type
13.3.4 Europe Hydrogen Fueling Station Market by Pressure
13.3.5 Europe Hydrogen Fueling Station Market by Solution
13.3.6 Europe Hydrogen Fueling Station Market by Supply Type
13.3.7 Germany
13.3.8.1 Germany Hydrogen Fueling Station Market by Station Size
13.3.8.2 Germany Hydrogen Fueling Station Market by Station Type
13.3.8.3 Germany Hydrogen Fueling Station Market by Pressure
13.3.8.4 Germany Hydrogen Fueling Station Market by Solution
13.3.8.5 Germany Hydrogen Fueling Station Market by Supply Type
13.3.8 UK
13.3.8.1 UK Hydrogen Fueling Station Market by Station Size
13.3.8.2 UK Hydrogen Fueling Station Market by Station Type
13.3.8.3 UK Hydrogen Fueling Station Market by Pressure
13.3.8.4 UK Hydrogen Fueling Station Market by Solution
13.3.8.5 UK Hydrogen Fueling Station Market by Supply Type
13.3.9 France
13.3.9.1 France Hydrogen Fueling Station Market by Station Size
13.3.9.2 France Hydrogen Fueling Station Market by Station Type
13.3.9.3 France Hydrogen Fueling Station Market by Pressure
13.3.9.4 France Hydrogen Fueling Station Market by Solution
13.3.9.5 France Hydrogen Fueling Station Market by Supply Type
13.3.10 Italy
13.3.10.1 Italy Hydrogen Fueling Station Market by Station Size
13.3.10.2 Italy Hydrogen Fueling Station Market by Station Type
13.3.10.3 Italy Hydrogen Fueling Station Market by Pressure
13.3.10.4 Italy Hydrogen Fueling Station Market by Solution
13.3.10.5 Italy Hydrogen Fueling Station Market by Supply Type
13.3.11 Spain
13.3.11.1 Spain Hydrogen Fueling Station Market by Station Size
13.3.11.2 Spain Hydrogen Fueling Station Market by Station Type
13.3.11.3 Spain Hydrogen Fueling Station Market by Pressure
13.3.11.4 Spain Hydrogen Fueling Station Market by Solution
13.3.11.5 Spain Hydrogen Fueling Station Market by Supply Type
13.3.12 The Netherlands
13.3.12.1 Netherlands Hydrogen Fueling Station Market by Station Size
13.3.12.2 Netherlands Hydrogen Fueling Station Market by Station Type
13.3.12.3 Netherlands Hydrogen Fueling Station Market by Pressure
13.3.12.4 Netherlands Hydrogen Fueling Station Market by Solution
13.3.12.5 Netherlands Hydrogen Fueling Station Market by Supply Type
13.3.13 Rest of Europe
13.3.13.1 Rest of Europe Hydrogen Fueling Station Market by Station Size
13.3.13.2 Rest of Europe Hydrogen Fueling Station Market by Station Type
13.3.13.3 Rest of Europe Hydrogen Fueling Station Market by Pressure
13.3.13.4 Rest of Europe Hydrogen Fueling Station Market by Solution
13.3.13.5 Rest of Europe Hydrogen Fueling Station Market by Supply Type
13.4 Asia-Pacific
13.4.1 Asia Pacific Hydrogen Fueling Station Market by country
13.4.2 Asia Pacific Hydrogen Fueling Station Market by Station Size
13.4.3 Asia Pacific Hydrogen Fueling Station Market by Station Type
13.4.4Asia Pacific Hydrogen Fueling Station Market by Pressure
13.4.5Asia Pacific Hydrogen Fueling Station Market by Solution
13.4.6 Asia Pacific Hydrogen Fueling Station Market by Supply Type
13.4.7 Japan
13.4.7.1 Japan Hydrogen Fueling Station Market by Station Size
13.4.7.2 Japan Hydrogen Fueling Station Market by Station Type
13.4.7.3 Japan Hydrogen Fueling Station Market by Pressure
13.4.7.4 Japan Hydrogen Fueling Station Market by Solution
13.4.7. 5Japan Hydrogen Fueling Station Market by Supply Type
13.4.8South Korea
13.4.8.1 South Korea Hydrogen Fueling Station Market by Station Size
13.4.8.2 South Korea Hydrogen Fueling Station Market by Station Type
13.4.8.3 South Korea Hydrogen Fueling Station Market by Pressure
13.4.8.4 South Korea Hydrogen Fueling Station Market by Solution
13.4.8.5 South Korea Hydrogen Fueling Station Market by Supply Type
13.4.9 China
13.4.9.1 China Hydrogen Fueling Station Market by Station Size
13.4.9.2 China Hydrogen Fueling Station Market by Station Type
13.4.9.3 China Hydrogen Fueling Station Market by Pressure
13.4.9.4 China Hydrogen Fueling Station Market by Solution
13.4.9.5 China Hydrogen Fueling Station Market by Supply Type
13.4.10 India
13.4.10.1 India Hydrogen Fueling Station Market by Station Size
13.4.10.2 India Hydrogen Fueling Station Market by Station Type
13.4.10.3 India Hydrogen Fueling Station Market by Pressure
13.4.10.4 India Hydrogen Fueling Station Market by Solution
13.4.10.5 India Hydrogen Fueling Station Market by Supply Type
13.4.11 Australia
13.4.11.1 Australia Hydrogen Fueling Station Market by Station Size
13.4.11.2 Australia Hydrogen Fueling Station Market by Station Type
13.4.11.3 Australia Hydrogen Fueling Station Market by Pressure
13.4.11.4 Australia Hydrogen Fueling Station Market by Solution
13.4.11.5 Australia Hydrogen Fueling Station Market by Supply Type
13.4.12 Rest of Asia-Pacific
13.4.12.1 APAC Hydrogen Fueling Station Market by Station Size
13.4.12.2 APAC Hydrogen Fueling Station Market by Station Type
13.4.12.3 APAC Hydrogen Fueling Station Market by Pressure
13.4.12.4 APAC Hydrogen Fueling Station Market by Solution
13.4.12.5 APAC Hydrogen Fueling Station Market by Supply Type
13.5 The Middle East & Africa
13.5.1 The Middle East & Africa Hydrogen Fueling Station Market by country
13.5.2 The Middle East & Africa Hydrogen Fueling Station Market by Station Size
13.5.3 The Middle East & Africa Hydrogen Fueling Station Market by Station Type
13.5.4The Middle East & Africa Hydrogen Fueling Station Market by Pressure
13.5.5 The Middle East & Africa Hydrogen Fueling Station Market by Solution
13.5.6The Middle East & Africa Hydrogen Fueling Station Market by Supply Type
13.5.7 Israel
13.5.7.1 Israel Hydrogen Fueling Station Market by Station Size
13.5.7.2 Israel Hydrogen Fueling Station Market by Station Type
13.5.7.3 Israel Hydrogen Fueling Station Market by Pressure
13.5.7.4 Israel Hydrogen Fueling Station Market by Solution
13.5.7.5 Israel Hydrogen Fueling Station Market by Supply Type
13.5.8 UAE
13.5.8.1 UAE Hydrogen Fueling Station Market by Station Size
13.5.8.2 UAE Hydrogen Fueling Station Market by Station Type
13.5.8.3 UAE Hydrogen Fueling Station Market by Pressure
13.5.8.4 UAE Hydrogen Fueling Station Market by Solution
13.5.8.5 UAE Hydrogen Fueling Station Market by Supply Type
13.5.9South Africa
13.5.9.1 South Africa Hydrogen Fueling Station Market by Station Size
13.5.9.2 South Africa Hydrogen Fueling Station Market by Station Type
13.5.9.3 South Africa Hydrogen Fueling Station Market by Pressure
13.5.9.4 South Africa Hydrogen Fueling Station Market by Solution
13.5.9.5 South Africa Hydrogen Fueling Station Market by Supply Type
13.5.10 Rest of Middle East & Africa
13.5.10.1 Rest of Middle East & Asia Hydrogen Fueling Station Market by Station Size
13.5.10.2 Rest of Middle East & Asia Hydrogen Fueling Station Market by Station Type
13.5.10.3 Rest of Middle East & Asia Hydrogen Fueling Station Market Pressure
13.5.10.4 Rest of Middle East & Asia Hydrogen Fueling Station Market by Solution
13.5.10.5 Rest of Middle East & Asia Hydrogen Fueling Station Market by Supply Type
13.6 Latin America
13.6.1 Latin America Hydrogen Fueling Station Market by country
13.6.2 Latin America Hydrogen Fueling Station Market by Station Size
13.6.3 Latin America Hydrogen Fueling Station Market by Station Type
13.6.4 Latin America Hydrogen Fueling Station Market by Pressure
13.6.5 Latin America Hydrogen Fueling Station Market by Solution
13.6.6 Latin America Hydrogen Fueling Station Market by Supply Type
13.6.7 Brazil
13.6.7.1 Brazil Hydrogen Fueling Station Market by Station Size
13.6.7.2 Brazil Africa Hydrogen Fueling Station Market by Station Type
13.6.7.3 Brazil Hydrogen Fueling Station Market by Pressure
13.6.7.4 Brazil Hydrogen Fueling Station Market by Solution
13.6.7.5 Brazil Hydrogen Fueling Station Market by Supply Type
13.6.8 Argentina
13.6.8.1 Argentina Hydrogen Fueling Station Market by Station Size
13.6.8.2 Argentina Hydrogen Fueling Station Market by Station Type
13.6.8.3 Argentina Hydrogen Fueling Station Market by Pressure
13.6.8.4 Argentina Hydrogen Fueling Station Market by Solution
13.6.8.5 Argentina Hydrogen Fueling Station Market by Supply Type
13.6.9 Rest of Latin America
13.6.9.1 Rest of Latin America Hydrogen Fueling Station Market by Station Size
13.6.9.2 Rest of Latin America Hydrogen Fueling Station Market by Station Type
13.6.9.3 Rest of Latin America Hydrogen Fueling Station Market by Pressure
13.6.9.4 Rest of Latin America Hydrogen Fueling Station Market by Solution
13.6.9.5 Rest of Latin America Hydrogen Fueling Station Market by Supply Type
14. Company Profile
14.1 Air Liquide
14.1.1 Market Overview
14.1.2 Financials
14.1.3 Product/Services/Offerings
14.1.4 SWOT Analysis
14.1.5 The SNS View
14.2 Air Products and Chemicals, Inc.
14.2.1 Market Overview
14.2.2 Financials
14.2.3 Product/Services/Offerings
14.2.4 SWOT Analysis
14.2.5 The SNS View
14.3 Linde plc
14.3.1 Market Overview
14.3.2 Financials
14.3.3 Product/Services/Offerings
14.3.4 SWOT Analysis
14.3.5 The SNS View
14.4 Nel ASA
14.4.1 Market Overview
14.4.2 Financials
14.4.3 Product/Services/Offerings
14.4.4 SWOT Analysis
14.4.5 The SNS View
14.5 McPhy Energy S.A.
14.5.1 Market Overview
14.5.2 Financials
14.5.3 Product/Services/Offerings
14.5.4 SWOT Analysis
14.5.5 The SNS View
14.6 Ballard Power System
14.6.1 Market Overview
14.6.2 Financials
14.6.3 Product/Services/Offerings
14.6.4 SWOT Analysis
14.6.5 The SNS View
14.7 First Element Fuel,Inc
14.7.1 Market Overview
14.7.2 Financials
14.7.3 Product/Services/Offerings
14.7.4 SWOT Analysis
14.7.5 The SNS View
14.8 hydrogenics
14.8.1 Market Overview
14.8.2 Financials
14.8.3 Product/Services/Offerings
14.8.4 SWOT Analysis
14.8.5 The SNS View
14.9 Praxair
14.9.1 Market Overview
14.9.2 Financials
14.9.3 Product/Services/Offerings
14.9.4 SWOT Analysis
14.9.5 The SNS View
14.10 Fuel Cell Energy
14.10.1 Market Overview
14.10.2 Financials
14.10.3 Product/Services/Offerings
14.10.4 SWOT Analysis
14.10.5 The SNS View
14.11 Nuvera Fuel Cell
14.11.1 Market Overview
14.11.2 Financials
14.11.3 Product/Services/Offerings
14.11.4 SWOT Analysis
14.11.5 The SNS View
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. USE Cases And Best Practices
17. Conclusion
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