< Key Hightlight >

"The global hydrogen fueling station market is estimated to grow from USD 380 Million in 2023 to USD 1,129 Million by 2030; it is expected to record a CAGR of 16.8% during the forecast period. Increasing initiatives to curb the green house gas emissions from the mobility sector leads to an increase in the demand for the renewable hydrogen fuel which drives the hydrogen fueling station market.

“Off-site: The segment is expected to account for the largest market share of the hydrogen fueling station market in 2022, by supply type “

Based on supply type, the hydrogen fueling station market has been split into two types: off-site and on-site. The off-site were estimated to have the largest market share of the hydrogen fueling station market in 2022.  The growth of the off-site segment can be attributed by the rapid development of technological methods for the delivery of hydrogen through pipelines and carriers. 

“ High Pressure segment is expected to dominate the hydrogen fueling station market based on pressure”

By pressure, the hydrogen fueling station market has been segmented into high pressure and low pressure. The high pressure segment is expected to hold the largest share of the hydrogen fueling station market in 2022 and grow at faster rate during the forecast period. Rising trends in shared mobility and increased demand for the light duty vehicles especially fuel cell passenger cars is expected to drive the growth of high pressure segment.

“By Solution, the engineering, procurement and construction (EPC) segment is expected to be the fastest growing market during the forecast period.”

Based on Solution, the hydrogen fueling station market is segmented into engineering, procurement and construction (EPC), and components. The engineering, procurement and construction (EPC) segment is expected to be the fastest-growing segment during the forecast period. The key factors such as growing adoption of fuel cell vehicles and rising construction of hydrogen fueling station is expected to drive the EPC segment during the forecast period.

Europe is expected to  be the second fastest-growing region in the hydrogen fueling station market  

Europe is expected to be the second fastest hydrogen fueling station market during the forecast period. Several factors contribute to this growth, including population growth, urbanization, and rising standards of living. As a result, the government is working towards the mitigation of carbon emissions which leads to increasing investment of generating hydrogen from renewables to achieve carbon neutral future. These are few of key factors expected to fuel the growth of the hydrogen fueling station market in the region 

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: 

By Company Type: Tier 1- 60%, Tier 2- 25%, and Tier 3- 15%

By Designation: C-Level- 35%, Director Levels- 25%, and Others- 40%

By Region: Asia Pacific- 30%, Europe- 25%, North America- 25%, the Middle East & Africa- 20%

Note: Others include product engineers, product specialists, and engineering leads.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2021. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The hydrogen fueling station market is dominated by a few major players that have a wide regional presence. The leading players in the hydrogen fueling station market are Air Liquide (France), Air Products and Chemicals, Inc. (US), Linde plc (Ireland), Nel ASA (Norway), and McPhy Energy S.A. (France).

Research Coverage:

The report defines, describes, and forecasts the global hydrogen fueling station market, by station size, supply type, pressure, station type, solution, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the hydrogen fueling station market.

Key Benefits of Buying the Report

• Growing adoption of fuel cell vehicles and increasing public and private investments in hydrogen fueling station deployment are some of the main factors driving the hydrogen fueling station market. Factors such as significant initial investments requirements to construct a hydrogen refueling station and the underdeveloped hydrogen infrastructure in some countries still restrain the market. Increased government mandates for upgrading hydrogen fueling stations and growing initiatives to accelerate hydrogen deployment provide opportunities for the hydrogen fueling station market to grow. Even though safety measures and risk assessment in hydrogen fueling station are major challenges faced impacting the growth of hydrogen fueling station market.

• Product Development/ Innovation: The future of the hydrogen fueling station market looks bright as they become less expensive due to improvements in onsite supply type especially through electrolysis method. The electrolysis provides clean hydrogen for fueling vehicles. Additionally, the safety and risk assessed is low in onsite hydrogen supply through electrolysis as compared to off-site. 

• Market Development: Renewable energy sources are becoming increasingly important in the hydrogen infrastructure. Renewables include sources such as solar, wind, hydro, geothermal, and biomass, among others. The Asia Pacific (MEA) hydrogen fueling station market is expected to experience significant growth in the coming years, driven by increasing investments in green hydrogen projects and the development of new hydrogen fueling infrastructure.

• Market Diversification: McPhy Energy S.A. launched “Augmented McFilling” hydrogen fueling station. It can be used to power the heavy duty hydrogen powered vehicles. It reduces the customer’s operating costs and environmental impact.

• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Air Liquide (France), Air Products and Chemicals, Inc. (US), Linde plc (Ireland), Nel ASA (Norway), and McPhy Energy S.A. (France) among others in the hydrogen fueling station market"