Hydrogen Fueling Stations: Driving the Global Market Toward Sustainable Transportation
Innovative Solutions for Sustainable Mobility: Exploring the Rise of Hydrogen Fueling Stations in the Global Market
BOSTON, May 8, 2024 /PRNewswire/ -- "According to the latest BCC Research study, the demand for Hydrogen Fueling Stations in Global Markets is expected to grow from $453.6 million in 2023 and is projected to reach $976.4 million by the end of 2028, at a compound annual growth rate (CAGR) of 16.6% from 2023 through 2028."
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This report provides an in-depth look at the global hydrogen fueling stations market covering the period 2023 to 2028 with the base year of 2022. It looks at what is driving the market and where opportunities lie considering factors such as COVID-19 and the Russia-Ukraine conflict. It uses simple language and easy-to-understand visuals such as tables and charts and looks at various aspects such as station size, pressure, and installation type. It forecasts future growth rates and profiles key players in the industry, showing how they are working to stay ahead. Overall, this is a handy guide to understanding where the hydrogen fueling station market is headed.
To learn more about the Hydrogen Fueling Stations: Global Markets Report, click here for details.
Key Drivers of the Hydrogen Fueling Stations: Global Markets
Increasing Funds in Hydrogen Fueling Stations: Investment in hydrogen Fueling stations is increasing, fueled by private and public funding, and the market is expected to grow from $453.6 million in 2023 to $976.4 million in 2028. These charging stations are essential to support the adoption of fuel-cell electric vehicles (FCVs)., especially considering growing concerns about carbon neutrality. Ongoing research aims to improve plant efficiency through innovative technologies such as the refueling of electrolyzers.
Increasing Variation of Fuel Cell Electric Vehicles: As fuel cell vehicles (FCVs) emit zero CO2 emissions, car manufacturers are increasingly incorporating them into their products. Initiatives such as EV30@30, which aim to reach 30% of new electric vehicles worldwide by 2030, are accelerating the adoption of fuel cell vehicles in countries such as Canada, Japan, and India, fueling demand for hydrogen filling stations.
Growing Demand for Clean Energy: As the transport sector has a significant impact on greenhouse gas emissions, there is an urgent need to use cleaner energy sources. Known for its zero-emission performance in fuel cell vehicles, hydrogen fuel is attracting increasing attention. Governments are investing in hydrogen infrastructure to promote its use and reduce carbon emissions.
Reduction of Carbon Emissions: Hydrogen refueling stations are essential to reduce carbon emissions from transport by supporting fuel cell vehicles. Despite challenges such as infrastructure development and high costs, we are working hard to build a clean hydrogen economy and pave the way for a more sustainable future.
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Report Synopsis
Report Metrics
Details
Base year considered 2022
Forecast Period considered
2023 to 2028
Base year market size
$411.6 million
Market Size Forecast
$976.4 million
Growth Rate
CAGR of 16.6% during 2023-2028
Segment Covered By Station Size, Pressure, Station Type, Installation
Type, and Region
Regions covered North America, Europe, Asia-Pacific, and Rest of the
World (RoW)
Key Market Drivers
Increasing Funds in Hydrogen Fueling Stations
Increasing Variation of
Fuel Cell Electric Vehicle
Growing Demand for Clean Energy
Reduction of Carbon
Emissions
Segmentation Analysis:
Station Size Segmentation Analysis:
-- Small Stations: They are compact hydrogen fueling stations designed for
local use. They suit the needs of small fleets or specific regions.
-- Medium Stations: Medium-sized stations have a wider service area and can
accommodate a moderate number of fuel cell vehicles.
-- Large Stations: Large stations are strategically located to handle high
volumes of traffic and serve large numbers of fuel cell vehicles.
Pressure Segmentation Analysis:
-- High-Pressure Stations: These stations supply high-pressure hydrogen
(typically 350 bar or more). High-voltage stations offer faster
refueling times and are suitable for commercial fleets and long-distance
journeys.
-- Low-Pressure Stations: Low-pressure stations operate at a lower pressure
level (usually around 200 bar). They are generally used for smaller
applications and urban refueling.
Station Type Segmentation Analysis:
-- Fixed Stations: Stationary hydrogen fueling stations are permanent
facilities with special infrastructure. They are strategically located
near highways, city centers, or industrial districts.
-- Mobile Stations: Mobile stations are mobile and can be moved as needed.
They are useful for short-term events, emergencies, or places with
limited infrastructure.
Installation Type Segmentation Analysis:
-- New Stations: The new hydrogen fueling station is being built from
scratch to meet the growing demand. These include the latest technology
and safety standards.
-- Old Stations: This category includes existing stations that are being
upgraded or renovated. Upgrading existing infrastructure can help you
expand your network efficiently.
This Hydrogen Fueling Stations: Global Market report contains comprehensive information and analysis covering the following key questions:
1. What is the projected growth rate of the hydrogen fueling station
market?The global hydrogen fueling station market was valued at $411.6
million in 2022 and is expected to reach $976.4 million by 2028 with a
CAGR of 16.6%.
2. What are the key factors driving the growth of the hydrogen fueling
station market?
-- Growing adaption of fuel cell electric vehicles.
-- Increasing funds for hydrogen fueling stations.
-- Growing demand for clean energy.
-- Reduction of carbon emissions.
3. What segments are covered in the hydrogen fueling station market? The
hydrogen fueling station market is segmented based on station size,
pressure, station type, installation type, and region.
4. By pressure, which segment will dominate the market by 2028? The
high-pressure segment will dominate the market by the end of 2028.
5. Which region has the highest market share in the hydrogen fueling station
market? Asia-Pacific holds the highest share of the global market.
Some of the Key Market Players Are:
-- Air Liquide
-- Air Products and Chemicals Inc.
-- Atawey
-- Chart Industries
-- Eni S.p.A.
-- FirstElement Fuel Inc.
-- FuelCell Energy Inc.
-- Galileo Technologies S.A.
-- H2 MOBILITY
-- H2energy Ag, Haskel
-- Humble Hydrogen
-- Hydrogen Refueling Solutions
-- ITM Power plc.
-- Iwatani Corp.
-- Linde plc
-- McPhy Energy
-- NanoSUN Ltd.
-- Nel ASA
-- PDC Machines
-- PERIC Hydrogen Technologies Co. Ltd.
-- Powertech Labs Inc.
-- sera GmbH
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