Hydrogen Fueling Station Market Growth to hit 26.4% of CAGR by 2030

According to our recent market study on "Hydrogen fueling station Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product and End User," the market is expected to grow from US$ 0.6 billion in 2022 to US$ 3.9 billion by 2030, with an estimated CAGR of 26.4% from 2022 to 2030.

Air Liquide, Air Products and Chemicals, Ballard, FirstElement Fuel Inc., Cummins Inc., Linde Group, Nel Hydrogen, PDC Machines Inc., Black and Veatch Holding Company, ITM Power are among the key hydrogen fueling station market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the hydrogen fueling station market and its ecosystem.

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Several initiatives are being implemented globally to equip these stations with "green" hydrogen or hydrogen created using renewable energy sources such as solar panels and wind turbines. This development is consistent with a global push for carbon-free green energy. According to estimates, several European nations have welcomed the switch to hydrogen-based transportation, which has resulted in the deployment of several hydrogen stations in the region. Germany, France, and the UK are leading the transformation. The NORDICs region has more of these stations deployed to cater to the specific demands of end users. In addition to passenger cars, buses, and trucks, these new fuel cell technologies are also suitable for other end users.

In February 2021, Howden-a UK-based major engineering firm-said that it would provide Everfuel, a leading Danish company, with cutting-edge H2 compressor solutions. Advanced systems are being implemented by businesses like Howden to improve their manufacturing capabilities. These businesses are creating cutting-edge fueling facilities worldwide due to the significant demand for low-carbon solutions. Several businesses adhere to strict emission requirements by implementing low-carbon technology-induced infrastructures supported by favorable government policy frameworks. These components are projected to positively impact the worldwide hydrogen fueling station market during the forecast period.

Following the recent success of cell electric vehicles powered by hydrogen, hydrogen fueling stations have attracted a lot of attention. Some businesses are attracted to the ease with which fuel cell electric vehicles (FCEVs) may be manufactured. The growing number of retail hydrogen fueling facilities in key areas is helping to enable the initial rollout of fuel cell electric vehicles. The first introduction of fuel cell electric vehicles is supported by the rise in retail hydrogen fueling outlets in several regions. Customers in markets where hydrogen fuel is accessible, especially in California, can buy or lease production FCEVs from manufacturers, including Honda, Hyundai, and Toyota. With more connecting and destination stations, the goal has been to provide hydrogen fuel at existing gas stations serving areas in Northern California close to San Francisco and Southern California close to Los Angeles and San Diego.

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