Hydrogen Fueling Station Market Report 2022: Sector to Reach $22 Billion by 2035 with a 35.4% CAGR
DUBLIN, Jan. 19, 2023 -- The "Hydrogen Fueling Station Market By Station Type, By Vehicle Type, By Vehicle Technology, By Delivery Methods: Global Opportunity Analysis and Industry Forecast, 2025-2035" report has been added to ResearchAndMarkets.com's offering.
According to the report, 'Hydrogen Fueling Station Market,' the hydrogen fueling station market was valued at $1.1 billion in 2025, and is estimated to reach $22 billion by 2035, growing at a CAGR of 35.4% from 2025 to 2035.
The concept of a hydrogen fueling station is typically attributed to hydrogen or fuel cell electric vehicles (FCEVs) that provide a practical alternative to zero-emission mobility compared to battery electric vehicles (BEV). The hydrogen fueling station is built with a wide range of compressors and accumulators to effectively store & fill liquefied or gaseous hydrogen. Stations dispense hydrogen as a compressed gas at pressures of 10,000 psi (H70) for light-duty vehicles and 5,000 psi (H35) for all other vehicles.
The fueling station has a storage tank based on the station's location and capacity, in which hydrogen can be stored as a liquid, a low-pressure gas, or a high-pressure gas. Presently, governments across the globe are promoting the use of hydrogen-powered vehicles to reduce carbon emissions and save fuel.
For instance, in 2019, European Union (EU) started the H2Haul project, which is expected run for five years. This EU-funded project aims to deploy 16 zero-emission fuel cell vehicles at four sites, i.e., Germany, Belgium, Switzerland, and France, by 2024. Moreover, the California Air Resources Board (CARB), Toyota, Shell, and Kenworth started the $82 million Zero-Emission and Near Zero-Emission Freight Facilities (ZANZEFF) project.
In addition, the hydrogen fueling station market has witnessed significant growth in recent years, owing to increased demand for improved vehicle performance and the inclination of consumers toward environment-friendly vehicles. Furthermore, the companies operating in the market have adopted partnerships, investments, and business expansions, to increase their market share and expand their geographical presence.
For instance, in October 2021, Linde plc. announced the start of its new hydrogen production facility in Texas. This bought Linde's total U.S. Gulf Coast hydrogen capacity to approximately 1.5 billion cubic feet per day. This helped them expand their offerings for hydrogen fueling stations across the U.S. Also, in December 2021, ITM Power PLC partnered with Shell, one of the largest oil companies in the world, to construct a hydrogen refueling station (HRS) at the Shell Filling Station, Beaconsfield. This increased its market presence across the UK.
The factors such as stringent government regulations to control increasing pollution, high suitability of hydrogen as fuel, and increase in R&D activities related to hydrogen fuel cell technology supplement the growth of the hydrogen fueling station market.
However, high initial expenditure for producing hydrogen and lack of fuel infrastructure are the factors expected to hamper the growth of the market. In addition, technological advancements and future potential in the hydrogen fuel cell vehicle and increase in investments & encouragement in administrative policy framework create market opportunities for the key players operating in the market.
Key Benefits For Stakeholders
- This study presents analytical depiction of the global hydrogen fueling station market analysis along with current trends and future estimations to depict imminent investment pockets.
- The overall hydrogen fueling station market opportunity is determined by understanding profitable trends to gain a stronger foothold.
- The report presents information related to the key drivers, restraints, and opportunities of the global hydrogen fueling station market with a detailed impact analysis.
- The current hydrogen fueling station market is quantitatively analyzed from 2025 to 2035 to benchmark the financial competency.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Station Type
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By Vehicle Technology
- Proton Exchange Membrane Fuel Cell
- Phosphoric Acid Fuel Cells
By Delivery Methods
Key Market Players
- Civil Maps
- Dynamic Map Platform
- HERE Technologies
- NVIDIA Corporation
- The Sanborn Map Company, Inc.
- TomTom International BV
- Waymo LLC
- Woven Planet Holdings, Inc.
- Zenrin Co., Ltd.
Key Findings of the Study
- By station type, the large segment dominated the global hydrogen fueling station market in terms of growth rate.
- By vehicle type, the commercial vehicles segment dominated the global hydrogen fueling station market in terms of growth rate.
- By vehicle technology, the others segment dominated the global hydrogen fueling station market in terms of growth rate.
- By delivery method, the on-site segment dominated the global hydrogen fueling station market in terms of growth rate.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HYDROGEN FUELING STATION MARKET, BY STATION TYPE
CHAPTER 5: HYDROGEN FUELING STATION MARKET, BY VEHICLE TYPE
CHAPTER 6: HYDROGEN FUELING STATION MARKET, BY VEHICLE TECHNOLOGY
CHAPTER 7: HYDROGEN FUELING STATION MARKET, BY DELIVERY METHODS
CHAPTER 8: HYDROGEN FUELING STATION MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/3i37ok
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