Hydrogen Fueling Station Market Growth, Trends, Size, Revenue, Challenges and Future Outlook
Hydrogen Fueling Station Market Size- By Solution, By Station Size, By Supply Type, By Pressure, By Station Type- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2023 | Report ID: POAE2348 | Pages: 1 - 247 | Formats*: |
| Category : Power & Energy | |||
Hydrogen Fueling Station Market Introduction and Overview
According to SPER Market Research, the Global Hydrogen Fueling Station Market is estimated to reach USD 12.57 billion by 2033 with a CAGR of 35.6%.
The report includes an in-depth analysis of the Global Hydrogen Fueling Station Market, including market size and trends, product mix, distribution channels, and supplier analysis. Hydrogen fueling stations are essential for supporting hydrogen and fuel cell electric vehicles (FCEVs) as a practical zero-emission mobility option compared to battery electric vehicles (BEVs). These stations are equipped with various compressors and accumulators to efficiently store and dispense liquefied or gaseous hydrogen at high pressures. Governments worldwide are actively promoting hydrogen-powered vehicles to lower carbon emissions and conserve fuel, making these fueling stations crucial in the transition to sustainable transportation.
- November 2022: Hyperion Motors unveiled the Hyper Fuel Mobile Station, capable of refueling both hydrogen fuel cell electric vehicles and battery electric vehicles. The station includes a hydrogen dispenser for FCEVs and an optional DC fast charger for BEVs. This innovative solution allows simultaneous servicing of two vehicle segments at a reduced cost and risk compared to permanent installations. Hyperion plans to expand the stations across the U.S., building on the Hyper: Fuel network.
- March 2022: ITM Power and Vitol Holdings SARL entered into a strategic partnership to establish a joint venture called ITM Motive Limited. The primary objective of this collaboration is to develop and introduce green Hydrogen Refueling Stations (HRS). This initiative aims to bolster the production, distribution, and demand for hydrogen, particularly in transportation applications.
Market Opportunities and Challenges
Significant potential and difficulties are presented by the global market for hydrogen fuelling stations. On the one hand, there is a rising need for hydrogen fuelling infrastructure as a result of the increased global focus on clean and sustainable energy solutions. Governments, businesses, and consumers are all realising how hydrogen-powered cars can cut carbon emissions and fight climate change, which is fostering industry expansion. Additionally, a number of nations have established aggressive goals for incorporating hydrogen into their energy mix, which spurs investments and offers incentives for the construction of hydrogen refuelling stations. Additionally, technological developments in hydrogen generation, storage, and dispensing create possibilities for more effective and affordable fueling station solutions.
There are significant obstacles to be overcome, though. Construction of hydrogen refuelling stations is still hindered by their high upfront costs. For the industry to attract investment and attain economies of scale, it must create workable business models. Additionally, delays in the timely delivery of critical components brought on by occurrences like the COVID-19 epidemic may have an influence on the expansion of the fuelling infrastructure. Additionally, the limited number of hydrogen fuelling stations prevents the widespread use of hydrogen-powered vehicles, while the low demand for such vehicles may deter the deployment of additional stations. To overcome this obstacle, it is necessary for stakeholders, businesses, and governments to work together to build a comprehensive hydrogen ecosystem.
Market Competitive Landscape
Prominent companies in the hydrogen fueling station market are actively pursuing business expansion through collaborations and partnerships throughout the value chain. The primary aim of this collaboration is to develop and introduce new green hydrogen refueling stations. This strategic alliance is expected to facilitate the production, distribution, and demand for hydrogen in transportation applications. The increasing adoption of fuel cells across various stationary, portable, and transportation sectors is anticipated to create significant opportunities for the growth of the hydrogen refueling station market share. The key players in the Global Hydrogen Fueling Station market include Air Liquide, Inc., Air Products and Chemicals, Ballard Power Systems, Black and Veatch Holding Company, China Petrochemical Corporation, Cummins Inc., FuelCell Energy, Inc., H2ENERGY SOLUTIONS LTD, ITM Power PLC, Linde PLC, NEL ASA, PDC Machines Inc., Shell, TotalEnergies, TrueZero, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Solution, By Station Size, By Supply Type, By Pressure, By Station Type |
| Regions covered | Asia-Pacific, Middle East and Africa, Europe, North America, Latin America |
| Companies Covered | Air Liquide, Inc., Air Products and Chemicals, Ballard Power Systems, Black and Veatch Holding Company, China Petrochemical Corporation, Cummins Inc., FuelCell Energy, Inc., H2ENERGY SOLUTIONS LTD, ITM Power PLC, Linde PLC, NEL ASA, PDC Machines Inc., Shell, TotalEnergies, TrueZero, Others |
COVID-19 Impact on Global Hydrogen Fueling Station Market
The COVID-19 pandemic-induced economic slowdown has caused delays and cancellations of projects, potentially impacting the short-term growth of hydrogen refueling stations. Global supply chain disruptions have resulted in shortages of components and equipment, affecting the overall market size. Furthermore, the decline in fuel cell electric vehicle sales could influence business trends. However, governments' increasing emphasis on low carbon technologies to meet climate targets is expected to drive the industry forward. Moreover, various developing economies adopting ambitious decarbonization targets will provide support and opportunities for the development of hydrogen refueling stations.
Key Target Audience:
- Automotive Manufacturers
- Clean Energy Advocacy Groups
- Fleet Operators and Commercial Vehicles
- Government and Public Transport Authorities
- Infrastructure Developers and Investors
- Private Vehicle Owners
- Research Institutions and Universities
- Others
Our in-depth analysis of the Hydrogen Fueling Station Market includes the following segments:
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Key Topics Covered in the Report:
- Global Hydrogen Fueling Station Market Size (FY’2023-FY’2033)
- Overview of Global Hydrogen Fueling Station Market
- Segmentation of Global Hydrogen Fueling Station Market By Solution (Components, Engineering, Procurement and Construction)
- Segmentation of Global Hydrogen Fueling Station Market By Station Size (Large Stations, Mid-Sized Stations, Small Stations)
- Segmentation of Global Hydrogen Fueling Station Market By Supply Type (Off-site, On-site)
- Segmentation of Global Hydrogen Fueling Station Market By Pressure (High Pressure, Low Pressure)
- Segmentation of Global Hydrogen Fueling Station Market By Station Type (Fixed Hydrogen Stations, Mobile Hydrogen Stations)
- Statistical Snap of Global Hydrogen Fueling Station Market
- Expansion Analysis of Global Hydrogen Fueling Station Market
- Problems and Obstacles in Global Hydrogen Fueling Station Market
- Competitive Landscape in the Global Hydrogen Fueling Station Market
- Impact of COVID-19 and Demonetization on Global Hydrogen Fueling Station Market
- Details on Current Investment in Global Hydrogen Fueling Station Market
- Competitive Analysis of Global Hydrogen Fueling Station Market
- Prominent Players in the Global Hydrogen Fueling Station Market
- SWOT Analysis of Global Hydrogen Fueling Station Market
- Global Hydrogen Fueling Station Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Hydrogen Fueling Station Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Hydrogen Fueling Station Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Hydrogen Fueling Station Market
7. Global Hydrogen Fueling Station Market, By Solution (USD Million)
7.1. Global Hydrogen Fueling Station Market Value Share and Forecast, By Solution, 2023-20337.2. Components7.2.1. Compressors7.2.2. Dispensers7.2.3. Dispensing Chiller Systems7.2.4. Hydraulic Power Units and Controls7.2.5. Hydrogen Inlets7.2.6. Storage Units7.2.7. Others7.3. Engineering, Procurement and Construction (EPC)
8. Global Hydrogen Fueling Station Market, By Station Size (USD Million)
8.1. Global Hydrogen Fueling Station Market Value Share and Forecast, By Station Size, 2023-20338.2. Large Stations8.3. Mid-Sized Stations8.4. Small Stations
9. Global Hydrogen Fueling Station Market, By Supply Type (USD Million)
9.1. Global Hydrogen Fueling Station Market Value Share and Forecast, By Supply Type, 2023-20339.2. Off-site9.2.1. Gas9.2.2. Liquid9.3. On-site9.3.1. Electrolysis9.3.2. Steam Methane Reforming (SMR)
10. Global Hydrogen Fueling Station Market, By Pressure (USD Million)
10.1. Global Hydrogen Fueling Station Market Value Share and Forecast, By Pressure, 2023-203310.2. High Pressure10.3. Low Pressure
11. Global Hydrogen Fueling Station Market, By Station Type (USD Million)
11.1. Global Hydrogen Fueling Station Market Value Share and Forecast, By Station Type, 2023-203311.2. Fixed Hydrogen Stations11.3. Mobile Hydrogen Stations
12. Global Hydrogen Fueling Station Market Forecast, 2019-2033 (USD Million)
12.1. Global Hydrogen Fueling Station Market Size and Market Share
13. Global Hydrogen Fueling Station Market, By Solution, 2019-2033 (USD Million)
13.1. Global Hydrogen Fueling Station Market Size and Market Share By Solution (2019-2026)13.2. Global Hydrogen Fueling Station Market Size and Market Share By Solution (2027-2033)
14. Global Hydrogen Fueling Station Market, By Station Size, 2019-2033 (USD Million)
14.1. Global Hydrogen Fueling Station Market Size and Market Share By Station Size (2019-2026)14.2. Global Hydrogen Fueling Station Market Size and Market Share By Station Size (2027-2033)
15. Global Hydrogen Fueling Station Market, By Supply Type, 2019-2033 (USD Million)
15.1. Global Hydrogen Fueling Station Market Size and Market Share By Supply Type (2019-2026)15.2. Global Hydrogen Fueling Station Market Size and Market Share By Supply Type (2027-2033)
16. Global Hydrogen Fueling Station Market, By Pressure, 2019-2033 (USD Million)
16.1. Global Hydrogen Fueling Station Market Size and Market Share By Pressure (2019-2026)16.2. Global Hydrogen Fueling Station Market Size and Market Share By Pressure (2027-2033)
17. Global Hydrogen Fueling Station Market, By Station Type, 2019-2033 (USD Million)
17.1. Global Hydrogen Fueling Station Market Size and Market Share By Station Type (2019-2026)17.2. Global Hydrogen Fueling Station Market Size and Market Share By Station Type (2027-2033)
18. Global Hydrogen Fueling Station Market, By Region, 2019-2033 (USD Million)
18.1. Global Hydrogen Fueling Station Market Size and Market Share By Region (2019-2026)18.2. Global Hydrogen Fueling Station Market Size and Market Share By Region (2027-2033)18.3. Asia-Pacific18.3.1. Australia18.3.2. China18.3.3. India18.3.4. Japan18.3.5. South Korea18.3.6. Rest of Asia-Pacific18.4. Europe18.4.1. France18.4.2. Germany18.4.3. Italy18.4.4. Spain18.4.5. United Kingdom18.4.6. Rest of Europe18.5. Middle East and Africa18.5.1. Kingdom of Saudi Arabia18.5.2. United Arab Emirates18.5.3. Rest of Middle East & Africa18.6. North America18.6.1. Canada18.6.2. Mexico18.6.3. United States18.7. Latin America18.7.1. Argentina18.7.2. Brazil18.7.3. Rest of Latin America
19. Company Profile
19.1. Air Liquide, Inc.19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments19.2. Air Products and Chemicals19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments19.3. Ballard Power Systems19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments19.4. Black and Veatch Holding Company19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments19.5. China Petrochemical Corporation19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments19.6. Cummins Inc.19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments19.7. FuelCell Energy, Inc.19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments19.8. H2ENERGY SOLUTIONS LTD19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments19.9. ITM Power PLC19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments19.10. Linde PLC19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments19.11. NEL ASA19.11.1. Company details19.11.2. Financial outlook19.11.3. Product summary19.11.4. Recent developments19.12. PDC Machines Inc.19.12.1. Company details19.12.2. Financial outlook19.12.3. Product summary19.12.4. Recent developments19.13. Shell19.13.1. Company details19.13.2. Financial outlook19.13.3. Product summary19.13.4. Recent developments19.14. TotalEnergies19.14.1. Company details19.14.2. Financial outlook19.14.3. Product summary19.14.4. Recent developments19.15. TrueZero19.15.1. Company details19.15.2. Financial outlook19.15.3. Product summary19.15.4. Recent developments19.16. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Hydrogen Fueling Station Market is projected to reach USD 12.57 billion by 2033, growing at a CAGR of 35.6% during the forecast period.
Hydrogen Fueling Station Market grew in market size from 2023. The Market is expected to reach USD 12.57 billion by 2033, at a CAGR of 35.6% during the forecast period.
Hydrogen Fueling Station Market CAGR of 35.6% during the forecast period.
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Hydrogen Fueling Station Market size is USD 12.57 billion from 2023 to 2033.
Hydrogen Fueling Station Market Segment is Covered By Solution, By Station Size, By Supply Type, By Pressure, By Station Type
The North America region is anticipated to have the highest market share in Hydrogen Fueling Station Market.
The key players in the market include Companies Covered Air Liquide, Inc., Air Products and Chemicals, Ballard Power Systems, Black and Veatch Holding Company, China Petrochemical Corporation, Cummins Inc., FuelCell Energy, Inc., H2ENERGY SOLUTIONS LTD, ITM Power PLC, Linde PLC, NEL ASA, PDC Machines Inc., Shell, TotalEnergies, TrueZero, Others
Hydrogen fueling stations are essential for supporting hydrogen and fuel cell electric vehicles (FCEVs) as a practical zero-emission mobility option compared to battery electric vehicles (BEVs).
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