Hydrogen fueling station market is anticipated to grow at a significant CAGR of 16.4% during the forecast period (2024-2031).The growing adoption of hydrogen-powered vehicles, advancements in fuel cell technology, and the development of hydrogen infrastructure with improving green hydrogen production are the key factors supporting the market growth globally. Major automakers are increasingly investing in hydrogen-powered vehicle development owing increase in demand for hydrogen fuel. The expansion of fuel cell vehicle fleets necessitates the availability of a robust hydrogen fueling infrastructure to support the growth of the market. According to the International Energy Agency (IEA), in July 2023, global hydrogen use reached 95 Mt in 2022, a nearly 3.0% increase year-on-year, with strong growth in all major consuming regions except Europe, which suffered a hit to industrial activity owing to the sharp increase in natural gas prices.
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To accelerate the hydrogen economy, governments set clear targets and a prioritized roadmap for hydrogen deployment, and associated renewable energy to enable net-zero emissions (such as Carbon Capture And Storage (CCS) or nature-based solutions). For instance, in March 2022, the Australian Government, through the Australian Renewable Energy Agency (ARENA), provided $22.8 million for Viva Energy to build the hydrogen cell refueling station.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Hydrogen Fueling Station Market by Station Type
- Fixed Hydrogen Station
- Mobile Hydrogen Station
Global Hydrogen Fueling Station Market by Supply Type
- Off-Site
- On-Site
Global Hydrogen Fueling Station Market by Solution
- Engineering, Procurement and Construction (EPC)
- Components
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Air Products and Chemicals, Inc.
- Ballard Power Systems Inc.
- Chart Industries, Inc.
- Cummins Inc.
- FirstElement Fuel Inc.
- FuelCell Energy, Inc.
- Green Hydrogen Systems
- Haskel International, Inc. (Ingersoll Rand Inc.)
- Hexagon Composites ASA
- HyGear
- ITM Power PLC
- McPhy Energy S.A.
- Nel ASA.
- Nikola Corp.
- Nuberg EPC
- Nuvera Fuel Cells, LLC
- Plug Power Inc.
- PowerTap Hydrogen Capital Corp.
- Shell plc
- Siemens AG
- Toyota Industries Corp.
- TrueZero
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global hydrogen fueling station market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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