According to a new report , The hydrogen fueling stations market is estimated to be valued at USD 0.5 billion in 2024 and is projected to reach USD 1.8 billion by 2030, at a CAGR of 23.8%.
The growth in demand for refueling stations for these zero-emission vehicles, fanned by environmental concerns and regulations, is escalating. In addition, the development of hydrogen refueling infrastructure is increasingly needed to write to the growing fleet of hydrogen fuel cell vehicles.
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The hydrogen fueling stations market is segmented by Pressure, the high-pressure segment is anticipated to dominate the market in 2023. High-pressure allows more hydrogen to be stored within the same volume, and thus this approach improves efficiency while reducing the space requirements of refueling stations. In addition, high-pressure hydrogen tanks can store more hydrogen in the vehicle, hence increasing the driving range between refueling, hereby providing a foremost consumer advantage. Moreover, heavy-duty applications—for example, trucks and buses—demand high-pressure refueling, as more significant amounts of hydrogen are required to move the vehicle. The business is also moving toward high-pressure standards, like 700 bar, an infrastructure that most simplifies the adoption and maintenance for manufacturers and operators.
This research report categorizes the hydrogen fueling station market based on station size, pressure, station type, solution, supply type, and region.
On the basis of Station Size:
- Small Stations
- Mid-sized Stations
- Large Stations
On the basis of Supply Type:
- Off-site
- Gas
- Liquid
- Subcooled liquid hydrogen (sLH2)
- Cryo-compressed hydrogen (CcH2)
- On-site
- Electrolysis
- Steam Methane Reforming (SMR)
On the basis of Solution:
- Components
- Hydrogen Inlets
- Compressors
- Hydraulic Power Units and Controls
- Dispensing Chiller Systems
- Storage Units
- Dispensers
- Others
- Engineering, Procurement, and Construction (EPC)
- Site Engineering & Design
- Permitting
- Construction
- Commissioning
- Project Management & General Overhead
On the basis of Pressure:
- High pressure
- Low pressure
On the basis of Station Type:
- Fixed Hydrogen Stations
- Mobile Hydrogen Stations
On the basis of Region:
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
By Station Size, the small-sized stations are expected to dominate the market during the forecast period. While this small size of stations means less capital is required to establish them, thus making them more attractive to new market entrants and smaller investors, it also makes them more attractive for installation in urban areas with smaller plots, hence being able to be located more strategically to answer local demand. Moreover, small stations are easily scaled up as demand grows, allowing operators to incrementally increase their investment rather than making an upfront large investment. Smaller stations have lower operational and maintenance costs that can bring about increased profitability and faster payback. Also, Due to their smaller size, these stations can be built and brought much faster in the operation, helping to meet near-term hydrogen fueling needs.
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Asia Pacific is expected to dominate the market share for the hydrogen refueling station market. Asian governments—especially Japan, South Korea, and China—have instituted policies with large subsidies and big support for hydrogen infrastructure, establishing hydrogen refueling stations and deploying hydrogen fuel cell vehicles. China and, in fact, most other developing countries also consider hydrogen a strategic industry that would help in pollution reduction while striving for solutions to energy security. Several millions of RMB are pumped in from the federal level into the development of hydrogen infrastructure. Additionally, rapid urbanization and the development of smart cities in Asia ensure that the need for implementing clean energy solutions, including hydrogen refueling stations, is maintained to sustain mobility in the cities of Asia. Moreover, the strong automotive industry in Asia, with leading vehicle manufacturers pushing for hydrogen technology, indicates high adoption and development in infrastructure to meet growing demand.
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