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
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| Regions covered | Asia-Pacific, Middle East and Africa, Europe, North America, Latin America
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| 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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By Solution:
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Components
Engineering, Procurement and Construction (EPC)
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| By Station Size:
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Large Stations
Mid-Sized Stations
Small Stations
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By Supply Type:
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Off-site
On-site
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By Pressure:
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High Pressure
Low Pressure
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By Station Type:
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Fixed Hydrogen Stations
Mobile Hydrogen Stations
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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 report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Hydrogen Fueling Station Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Hydrogen Fueling Station Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. 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, 2023-2033
7.2. Components
7.2.1. Compressors
7.2.2. Dispensers
7.2.3. Dispensing Chiller Systems
7.2.4. Hydraulic Power Units and Controls
7.2.5. Hydrogen Inlets
7.2.6. Storage Units
7.2.7. Others
7.3. 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, 2023-2033
8.2. Large Stations
8.3. Mid-Sized Stations
8.4. 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, 2023-2033
9.2. Off-site
9.2.1. Gas
9.2.2. Liquid
9.3. On-site
9.3.1. Electrolysis
9.3.2. 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, 2023-2033
10.2. High Pressure
10.3. 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, 2023-2033
11.2. Fixed Hydrogen Stations
11.3. 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-Pacific
18.3.1. Australia
18.3.2. China
18.3.3. India
18.3.4. Japan
18.3.5. South Korea
18.3.6. Rest of Asia-Pacific
18.4. Europe
18.4.1. France
18.4.2. Germany
18.4.3. Italy
18.4.4. Spain
18.4.5. United Kingdom
18.4.6. Rest of Europe
18.5. Middle East and Africa
18.5.1. Kingdom of Saudi Arabia
18.5.2. United Arab Emirates
18.5.3. Rest of Middle East & Africa
18.6. North America
18.6.1. Canada
18.6.2. Mexico
18.6.3. United States
18.7. Latin America
18.7.1. Argentina
18.7.2. Brazil
18.7.3. Rest of Latin America
19. Company Profile
19.1. Air Liquide, Inc.
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. Air Products and Chemicals
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. Ballard Power Systems
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Black and Veatch Holding Company
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. China Petrochemical Corporation
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Cummins Inc.
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. FuelCell Energy, Inc.
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. H2ENERGY SOLUTIONS LTD
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. ITM Power PLC
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. Linde PLC
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. NEL ASA
19.11.1. Company details
19.11.2. Financial outlook
19.11.3. Product summary
19.11.4. Recent developments
19.12. PDC Machines Inc.
19.12.1. Company details
19.12.2. Financial outlook
19.12.3. Product summary
19.12.4. Recent developments
19.13. Shell
19.13.1. Company details
19.13.2. Financial outlook
19.13.3. Product summary
19.13.4. Recent developments
19.14. TotalEnergies
19.14.1. Company details
19.14.2. Financial outlook
19.14.3. Product summary
19.14.4. Recent developments
19.15. TrueZero
19.15.1. Company details
19.15.2. Financial outlook
19.15.3. Product summary
19.15.4. Recent developments
19.16. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope