New York, United States , June 21, 2024 (GLOBE NEWSWIRE) -- The Global Hydrogen Fueling Station Market Size is to Grow from USD 369.01 Million in 2023 to USD 1809.10 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 17.23% during the projected period.
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A hydrogen fuelling station is a location where hydrogen for fuel cell cars may be refilled. The most crucial component of the system needed for hydrogen fuel cell cars to be widely accepted is these stations. Heavy-duty and long-distance driving are the ideal uses for hydrogen-powered cars since hydrogen is being recognized as a flexible and environmentally friendly fuel substitute for traditional fuels. There are several sorts of hydrogen filling stations, and they are crucial for enabling clean and sustainable transportation. The major parts of hydrogen filling stations, which resemble conventional gasoline dispensers, include storage tanks, hydrogen dispensers, compression systems, and safety measures. Numerous elements have a role in the development and growth of the market for hydrogen filling stations. Governments are making an effort to focus on low- or zero-emission equipment and resources, such as nuclear, solar, wind, and fossil fuels. The market for hydrogen fueling stations might expand more slowly due to the implementation costs associated with buying high-quality equipment and instrumentation. The high expense of producing and delivering hydrogen fuel on a small scale at gas stations may prevent the industry from growing further, as may the intricate management of large-scale gas station operations.
Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the " Global Hydrogen Fueling Station Market Size, Share, and COVID-19 Impact Analysis, By Type (Fixed Station and Mobile Station), By Size (Small & Medium Size and Large Size), By End User (Railways, Marine, Commercial Vehicle and Aviation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The fixed station is expected to dominate the market during the projected period.
On the basis of type, the global hydrogen fueling station market is classified into fixed station and mobile station. Among these, the fixed station is expected to dominate the market during the projected period. The growing popularity of hydrogen-powered cars is driving up demand for permanent stations. A steady supply of hydrogen from the stationary station might draw in customers.
The small & medium size segment is estimated to dominate the global hydrogen fueling station market during a projected period.
On the basis of size, the global Hydrogen fueling station market is classified into small & medium size and large size. Among these, the small & medium size segment is estimated to dominate the global hydrogen fueling station market during a projected period. This market share may be explained by the growing number of hydrogen-powered vehicles on the road, which has raised the need for appropriate urban refueling infrastructure. Small and medium-sized stations are suitable for this type of demand.
The commercial vehicle segment is estimated to dominate the market during the projected period.
On the basis of end user, the global hydrogen fueling station market is classified into railways, marine, commercial vehicle, and aviation. Among these, the commercial vehicle segment is estimated to dominate the market during the projected period. The transportation industry is the one that uses hydrogen the most because of its involvement in the net zero movement.
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Asia Pacific is expected to hold the greatest share of the global hydrogen fueling station market over the projected period.
Asia Pacific is expected to hold the greatest share of the global hydrogen fueling station market over the projected period. The Asia Pacific region is seeing a large-scale construction boom due to the region’s substantial expenditures in infrastructure and hydrogen technology development. This element has led to an increase in the need for hydrogen fuelling stations. Emerging nations like China, Japan, and South Korea have established clear goals for the adoption of hydrogen fuel cell cars and heavy vehicles to meet the demand for autos and buses in the region. The governments in the Asia-Pacific area are putting plans into action to support the legalization of hydrogen fuel cell cars, which in turn is driving up demand for appropriate hydrogen fueling infrastructure.
Europe region is estimated to grow at the highest pace over the projected period. The continent's ambitious climate ambitions and the need to decarbonize several sectors, most notably transportation, are driving governments, companies, and consumers toward cleaner energy alternatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hydrogen fueling station Market include Air Liquide, China Petrochemical Corporation, H2ENERGY SOLUTIONS LTD, Cummins Inc., Air Products and Chemicals, FuelCell Energy, Inc., ITM Power PLC, Ballard Power Systems, NEL ASA, TotalEnergies, Linde plc, McPhy Energy, Refueling Solutions, PERIC Hydrogen Technologies Co., Ltd, Powertech Labs Inc., and Others.
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Recent Developments
- In June 2023, the purchase order was obtained by NEL ASA subsidiary Nel Hydrogen Inc. from an unidentified US energy company. The sixteen hydrogen filling stations that will be delivered under this deal will be installed in California, USA. It aids in the company's growth in the market for hydrogen fueling stations.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Global Hydrogen Fueling Station Market based on the below-mentioned segments:
Global Hydrogen Fueling Station Market, By Type
- Fixed Station
- Mobile Station
Global Hydrogen Fueling Station Market, By Size
- Small & Medium Size
- Large Size
Global Hydrogen Fueling Station Market, By End User
- Railways
- Marine
- Commercial vehicles
- Aviation
Global Hydrogen Fueling Station Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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