Press release
Hydrogen Fueling Station Market Size, Business Growth Updates, Trends, Industry Report And Forecast To 2033
Hydrogen Fueling Station Market
As per the report, the hydrogen fueling station market size has grown exponentially in recent years. It will grow from $0.62 billion in 2023 to $0.77 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The hydrogen fueling station market size is expected to see exponential growth in the next few years. It will grow to $1.72 billion in 2028 at a compound annual growth rate (CAGR) of 22.2%.
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Rising Demand For Zero-Emission Vehicles Fuels Expansion Of Hydrogen Fueling Stations
The increasing demand for zero-emission vehicles is expected to propel the growth of the hydrogen fueling station market going forward. A zero-emission vehicle refers to any vehicle that uses propulsion technology that does not produce internal combustion engine exhaust or other carbon emissions when it operates. The demand for zero-emission vehicles is increasing due to growing concerns about environmental sustainability, coupled with government regulations aimed at reducing greenhouse gas emissions and promoting clean transportation. Hydrogen fueling stations enable the efficient and sustainable operation of zero-emission vehicles, particularly fuel cell electric vehicles (FCEVs), by providing a convenient refueling experience similar to traditional gasoline stations. These stations allow FCEV drivers to fill up their tanks in a matter of minutes. For instance, in January 2024, according to the China Association of Automobile Manufacturers (CAAM), a China-based organization that represents the interests of automobile manufacturers, approximately 6,000 fuel-cell electric vehicles (FCEVs) were sold in China in 2023, representing a significant year-on-year increase of 72%. Moreover, the Chinese government targets 50,000 FCEVs on the road and 100,000-200,000 metric tons of annual renewable hydrogen production capacity by 2025. Therefore, the increasing demand for zero-emission vehicles is driving the growth of the hydrogen fueling station market.
Innovative Solutions Driving Growth With The Rise Of Automatic Mobile Hydrogen Stations
Major companies operating in the hydrogen fueling station market are focused on developing innovative technologies, such as automatic mobile hydrogen stations, to increase their profitability in the market. Automatic mobile hydrogen stations are designed to be movable and deployable, allowing for temporary refueling solutions in areas without fixed hydrogen fueling infrastructure or during events, emergencies, or construction projects. For instance, in September 2021, Atawey, a France-based provider of hydrogen mobility refueling solutions, launched a new mobile hydrogen station. The launch features groundbreaking features designed to revolutionize refueling infrastructure for hydrogen-powered vehicles. The Atawey mobile hydrogen station is swiftly deployable, requiring only half a day for setup. Its automated processes and intuitive controls simplify commissioning, ensuring hydrogen refueling is accessible anytime and anywhere. It serves multiple markets, including vehicle testing, construction sites, events, and as a temporary or backup station for projects or maintenance. This solution accelerates hydrogen mobility deployment, catering to a range of vehicle refueling needs.
The hydrogen fueling station market covered in this report is segmented -
1) By Station Type: Fixed Hydrogen Station, Mobile Hydrogen Station
2) By Solution: Engineering, Procurement And Construction, Components
3) By Station Size: Small, Medium, Large
4) By Supply Type: On-Site, Off-Site
5) By End-Use: Marine, Railways, Commercial Vehicles, Aviation
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Major companies operating in the hydrogen fueling station market are China Petrochemical Corporation (Sinopec), TotalEnergies SE, Shell plc, Linde PLC, Air Liquide S.A., Cummins Inc., NTPC Limited, McPhy Energy SAS, Air Products and Chemicals Inc., Nano Sun Ltd., ITM Power PLC, Black and Veatch Holding Company, ATCO Ltd., Chart Industries, Plug Power Inc., FuelCell Energy Inc., NEL ASA, Hexagon Purus ASA, Ballard Power Systems, Nuvera Fuel Cells LLC, Nikola Corporation, Ceres Power, PDC Machines Inc., Green Hydrogen Systems, Humble Hydrogen Private Limited, TrueZero, FirstElement Fuel Inc., H2 MOBILITY Deutschland GmbH & Co. KG, HyGear
Contents of the report:
1. Executive Summary
2. Hydrogen Fueling Station Market Report Structure
3. Hydrogen Fueling Station Market Trends And Strategies
4. Hydrogen Fueling Station Market - Macro Economic Scenario
5. Hydrogen Fueling Station Market Size And Growth
…..
27. Hydrogen Fueling Station Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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