Hydrogen Fueling Station Market Poised for Exponential Growth, Size to Reach USD 22,015.6 Million by 2035, | AMR

Hydrogen fueling stations have gained tremendous f

OREGAON, PORTLAND, UNITED STATES , May 8, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Hydrogen Fueling Station Market by Station Type (Small, Medium and Large), Vehicle Type (Passenger Cars and Commercial Vehicles), Vehicle Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cells and Others), and Delivery Method (On-Site and Off-Site): Global Opportunity Analysis and Industry Forecast, 2024-2035".

According to the report, the global hydrogen fueling station market is expected to be valued at $756.4 million in 2024 and is projected to reach $22,015.6 million by 2035, registering a CAGR of 35.9% from 2024 to 2035.

🔰 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A08501

The concept of a hydrogen fueling station is typically attributed to hydrogen or fuel cell electric vehicles (FCEVs) that provide a practical alternative to zero-emission mobility compared to battery electric vehicles (BEV). The hydrogen fueling station is built with a wide range of compressors and accumulators to effectively store & fill liquefied or gaseous hydrogen. Stations dispense hydrogen as a compressed gas at pressures of 10,000 psi (H70) for light-duty vehicles and 5,000 psi (H35) for all other vehicles. The fueling station has a storage tank based on the station’s location and capacity, in which hydrogen can be stored as a liquid, a low-pressure gas, or a high-pressure gas.

Prime determinants of growth

Stringent government regulations to control increasing pollution, high suitability of hydrogen as fuel, and increase in R&D activities related to hydrogen fuel cell technology supplement the growth of the hydrogen fueling station market. However, high initial expenditure for producing hydrogen and lack of fuel infrastructure are the factors expected to hamper the growth of the hydrogen fueling station market. In addition, technological advancements and future potential in the hydrogen fuel cell vehicle and increase in investments & encouragement in administrative policy framework create market opportunities for the key players operating in the hydrogen fueling station market.

𝐓𝐨𝐩 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐒𝐭𝐚𝐭𝐢𝐨𝐧 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:-

China Petrochemical Corporation

Cummins Inc.

SHELL

Ballard Power Systems

FirstElement Fuel Inc.

FuelCell Energy, Inc.

Nuvera Fuel Cells LLC

TotalEnergies

H2Energy Solutions Ltd.

Air Products and Chemicals, Inc.

Air Liquide

PDC Machines Inc.

ITM Power PLC

Black And Veatch Holding Company

Nel ASA

Linde plc

TrueZero

The report provides a detailed analysis of key players in the global hydrogen fueling station market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others, to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 - https://www.alliedmarketresearch.com/hydrogen-fueling-station-market/purchase-options

Presently, governments across the globe are promoting the use of hydrogen-powered vehicles to reduce carbon emissions and save fuel. For instance, in 2019, European Union (EU) started the H2Haul project, which is expected run for five years. This EU-funded project aims to deploy 16 zero-emission fuel cell vehicles at four sites, i.e., Germany, Belgium, Switzerland, and France, by 2024. Moreover, the California Air Resources Board (CARB), Toyota, Shell, and Kenworth started the $82 million Zero-Emission and Near Zero-Emission Freight Facilities (ZANZEFF) project.

𝐓𝐡𝐞 𝐬𝐦𝐚𝐥𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐢𝐬 𝐞𝐱𝐩𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝.

𝐁𝐲 𝐬𝐭𝐚𝐭𝐢𝐨𝐧 𝐭𝐲𝐩𝐞, the small segment is expected to hold the highest market share in 2024, accounting for four-fifths of the global hydrogen fueling station market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to witness the highest 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟑𝟓.𝟏% from 2024 to 2035, owing to increase in the installation of small hydrogen fueling stations.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐢𝐬 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝.

𝐁𝐲 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the passenger vehicle segment is expected to witness the highest market share in 2024, accounting for nearly three-fourths of the global hydrogen fueling station market. However commercial vehicle segment is estimated to lead the market segment during the forecast period with a 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟑𝟔.𝟖%.

𝐓𝐡𝐞 𝐩𝐫𝐨𝐭𝐨𝐧 𝐞𝐱𝐜𝐡𝐚𝐧𝐠𝐞 𝐦𝐞𝐦𝐛𝐫𝐚𝐧𝐞 𝐟𝐮𝐞𝐥 𝐜𝐞𝐥𝐥 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐲 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, the proton exchange membrane fuel cell segment accounted for the largest share in 2024, contributing to nearly half of the global hydrogen fueling station market revenue. However, others segment is projected to lead the market during the forecast period with a CAGR of 37.7% during the forecast period.

𝐓𝐡𝐞 𝐨𝐧-𝐬𝐢𝐭𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐲 𝐝𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐦𝐞𝐭𝐡𝐨𝐝, the on-site segment accounted for the largest share in 2024, contributing to more than two-thirds of the global hydrogen fueling station market revenue and is projected to grow at a suitable 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟑𝟔.𝟕% during the forecast period. On-site refueling stations include vehicles that are used for refueling the vehicles that have consumed fuel mid-way of propulsion. In addition, hydrogen fuel vehicle owners face the difficulty of refueling their vehicles due to uneven availability of refueling stations and thus the need for on-site refueling rises, which eventually leads to the growth of the segment in the global market.

𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟓

𝐁𝐲 𝐫𝐞𝐠𝐢𝐨𝐧, Asia-Pacific is expected to hold the highest market share in terms of revenue in 2024, accounting for two-fifths of the global hydrogen fueling station market revenue. However, Europe is expected to dominate the market during the forecast period. Automotive and portable applications have always been the prominent drivers of hydrogen fueling in the European market. In addition, due to rise in usage in industrial activities for zero-emission vehicles to be present across the region, hydrogen fuel cells & hydrogen fueling stations are gaining traction in the market. The economic slowdown in the Eurozone has affected fuel cell adoption to a considerable extent in transport, portable, and stationary applications. Moreover, Europe has stringent regulations for toxic materials and carbon emissions, which have fueled the growth of this market in Europe.

🔰 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A08501

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐇𝐲𝐝𝐫𝐨𝐠𝐞𝐧 𝐅𝐮𝐞𝐥𝐢𝐧𝐠 𝐒𝐭𝐚𝐭𝐢𝐨𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲

In 𝐉𝐮𝐧𝐞 𝟐𝟎𝟐𝟑, Air Liquide & Iveco Group opened the first high-pressure hydrogen station for long-haul trucks in Europe. This strategy marks a step forward in the two companies' commitment to the development of hydrogen mobility in Europe.

In 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐𝟎𝟐𝟑, Air Liquide entered into an agreement with TotalEnergies to develop a network of hydrogen stations for heavy-duty vehicles on major European road corridors. This strategy helps facilitate access to hydrogen, enabling the development of its use for goods transportation and further strengthening the hydrogen sector.

In 𝐌𝐚𝐲 𝟐𝟎𝟐𝟑, Air Products and Chemicals, Inc. signed an agreement with Aers Energy België to develop a multi-fuel, hydrogen refueling station for trucks. The new station will be the first commercial-scale hydrogen refueling station in Europe with liquid hydrogen storage. It will be built and operated by Air Products in addition to other liquid hydrogen refueling stations the company is developing throughout Europe.

In 𝐅𝐞𝐛𝐫𝐮𝐚𝐫𝐲 𝟐𝟎𝟐𝟏, Ballard Power Systems signed an agreement with Chart Industries, Inc. for the joint development of integrated system solutions that include a fuel cell engine with onboard liquid hydrogen (“LH2”) storage and vaporization for the transportation industry. Liquid hydrogen is well-suited for the transportation industry as its higher density, lower pressure, and ease of filling via liquid hydrogen pump contribute to the ability of larger mobile equipment to travel longer distances

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐞 𝐇𝐚𝐯𝐞 𝐨𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/europe-hydrogen-fueling-station-market-A99154 - Research Report 2025-2035

https://www.alliedmarketresearch.com/u-s-hydrogen-fueling-station-market-A99151 - Research Report 2025-2035

https://www.alliedmarketresearch.com/asia-pacific-hydrogen-fueling-station-market-A99161 - Research Report 2025-2035

David Correa
Allied Market Research
+1 503-894-6022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other