Hydrogen Fueling Station Market Poised for Exponential Growth, Size to Reach USD 22,015.6 Million by 2035, | AMR
Hydrogen Fueling Station Market Growth
Hydrogen fueling stations have gained tremendous f
OREGAON, PORTLAND, UNITED STATESย , 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.
๐ฐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ฌ - 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 stationโs 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.
๐๐จ๐ฉ ๐๐ฒ๐๐ซ๐จ๐ ๐๐ง ๐ ๐ฎ๐๐ฅ๐ข๐ง๐ ๐๐ญ๐๐ญ๐ข๐จ๐ง ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:-
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.
๐ฐ ๐๐ซ๐จ๐๐ฎ๐ซ๐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฐ - 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.
๐๐ก๐ ๐ฌ๐ฆ๐๐ฅ๐ฅ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ข๐ฌ ๐๐ฑ๐ฉ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐.
๐๐ฒ ๐ฌ๐ญ๐๐ญ๐ข๐จ๐ง ๐ญ๐ฒ๐ฉ๐, 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 ๐๐๐๐ ๐จ๐ ๐๐.๐% from 2024 to 2035, owing to increase in the installation of small hydrogen fueling stations.
๐๐ก๐ ๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ข๐๐ฅ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ข๐ฌ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก๐จ๐ฎ๐ญ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐.
๐๐ฒ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ญ๐ฒ๐ฉ๐, 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 ๐๐๐๐ ๐จ๐ ๐๐.๐%.
๐๐ก๐ ๐ฉ๐ซ๐จ๐ญ๐จ๐ง ๐๐ฑ๐๐ก๐๐ง๐ ๐ ๐ฆ๐๐ฆ๐๐ซ๐๐ง๐ ๐๐ฎ๐๐ฅ ๐๐๐ฅ๐ฅ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
๐๐ฒ ๐ฏ๐๐ก๐ข๐๐ฅ๐ ๐ญ๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ, 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.
๐๐ก๐ ๐จ๐ง-๐ฌ๐ข๐ญ๐ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐ฅ๐๐๐ ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐๐๐ฌ๐ญ ๐ฉ๐๐ซ๐ข๐จ๐
๐๐ฒ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฒ ๐ฆ๐๐ญ๐ก๐จ๐, 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 ๐๐๐๐ ๐จ๐ ๐๐.๐% 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.
๐๐ฌ๐ข๐-๐๐๐๐ข๐๐ข๐ ๐ญ๐จ ๐ฆ๐๐ข๐ง๐ญ๐๐ข๐ง ๐ข๐ญ๐ฌ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐๐ฒ ๐๐๐๐
๐๐ฒ ๐ซ๐๐ ๐ข๐จ๐ง, 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.
๐ฐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ - https://www.alliedmarketresearch.com/purchase-enquiry/A08501
๐๐๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ๐ฌ ๐ข๐ง ๐๐ฒ๐๐ซ๐จ๐ ๐๐ง ๐ ๐ฎ๐๐ฅ๐ข๐ง๐ ๐๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
In ๐๐ฎ๐ง๐ ๐๐๐๐, 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 ๐ ๐๐๐ซ๐ฎ๐๐ซ๐ฒ ๐๐๐๐, 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 ๐๐๐ฒ ๐๐๐๐, Air Products and Chemicals, Inc. signed an agreement with Aers Energy Belgiรซ 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 ๐ ๐๐๐ซ๐ฎ๐๐ซ๐ฒ ๐๐๐๐, 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 (โLH2โ) 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
๐๐ข๐ฆ๐ข๐ฅ๐๐ซ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ ๐๐๐ฏ๐ ๐จ๐ง ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ:
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
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