Hydrogen Fueling Station Market Exclusive Trends Analysis with Forecast to 2031
Hydrogen Fueling Station Market Size is valued at USD 634.63 Mn in 2022 and is predicted to reach USD 3.97 Bn by the year 2031 at a 22.85% CAGR during the forecast period for 2023-2031.
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List of Prominent Players in the Hydrogen Fueling Station Market:
• Air Liquide
• Nel ASA
• Linde plc
• Air Products and Chemicals, Inc.
• McPhy Energy S.A.
• Iwatani Corporation
• Ingersoll Rand
• Chart Industries
• H2 Mobility
• Sera GmbH
• Powertech Labs Inc.
• Galileo Technologies S.A.
• Nikola Corporation
• Nanosun Limited
• PDC Machines
• Peric Hydrogen Technologies Co., Ltd
The growing customer preference for various forms of zero-emission automobiles opens up new opportunities for the global industry. Various small and large-scale automotive manufacturers have launched new enterprises to boost FCEV placement and promote the automotive sector's transition to decarbonization. Over the next decade, advancements in zero-emission vehicles and fuel technologies will make green trucks less expensive and more widely available. The widespread implementation of fuel-cell electric vehicles in the trucking sector will contribute to the reduction of carbon emissions in the transportation industry of the United States. This will also expedite the acceptance of electric vehicles, tackle the climate emergency, and strengthen domestic manufacturing.
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The initial capital expenses of planning, installing, and activating hydrogen fuelling stations are significant. In the absence of substantial government incentives, this high primery investment can be a barrier to entry for developers and investors. Inadequate standardization of hydrogen fueling systems and infrastructure can stymie interoperability and raise costs. Furthermore, the scarcity of hydrogen fuelling stations can contribute to customer scepticism, slowing the adoption of hydrogen fuel cell automobiles. Prospective customers may exhibit reluctance to make investments in hydrogen-powered vehicles in the absence of a robust infrastructure of refueling stations.
Asia Pacific Hydrogen Fueling Station Market is expected to register a major market share in terms of revenue and it is projected to grow at a high CAGR in the near future. China, Japan, and South Korea are among the major countries that have set ambitious hydrogen fuel cell car deployment goals as well as a favourable plan for developing HRS infrastructure. Japan is one of the fastest-growing countries in the world, thanks to a tremendous increase in the number of hydrogen filling stations. Additionally, Europe is expected to grow at a significant rate. The European Union's carbon reduction regulations, national renewable objectives, and decarbonization of bus fleets are some of the significant factors driving market expansion in the region. Furthermore, numerous regional organizations are investing heavily in order to increase clients' use of hydrogen fuel.
• In Aug 2023, Nikola Corporation, a prominent player in the global market for battery-electric and hydrogen fuel-cell electric cars (FCEV), as well as energy solutions, has just obtained an extra $16.3 million grant to support the financing of its hydrogen fuelling stations. Nikola acquired $58.2 million from the recent funding to bolster its hydrogen infrastructure.
• In June 2023, Air Liquide and Iveco Group restated their dedication to hydrogen as they marked the opening of Europe's inaugural high-pressure hydrogen station for long-haul vehicles.
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Segmentation of Hydrogen Fueling Station Market-
• Passenger Cars
• Commercial Vehicles
• Others (Marine, Rail)
By Station Size-
• Small-Size Stations
• Mid-Size Stations
• Large Stations
By Station Type-
• Fixed Hydrogen Station
• Mobile Hydrogen Station
By Supply Type-
o Steam Methane Reforming
• Engineering Procurement and Construction
Hydraulic Power Units and Controls
Dispensing Chiller Systems
• The US
• The UK
• Rest of Europe
• South Korea
• Southeast Asia
• Rest of Asia Pacific
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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Why should buy this report:
To receive a comprehensive analysis of the prospects for the Global Hydrogen Fueling Station
To receive an industry overview and future trends in the Global Hydrogen Fueling Station
To analyze the Hydrogen Fueling Station market drivers and challenges
To get information on the Hydrogen Fueling Station market size value (US$ Mn) forecast till 2031
Major Investments, Mergers & Acquisitions in the Global Hydrogen Fueling Station industry
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