May 08, 2024
Boston: “According to the latest BCC Research study, the demand for Hydrogen Fueling Stations in Global Markets is expected to grow from $453.6 million in 2023 and is projected to reach $976.4 million by the end of 2028, at a compound annual growth rate (CAGR) of 16.6% from 2023 through 2028.”
This report provides an in-depth look at the global hydrogen fueling stations market covering the period 2023 to 2028 with the base year of 2022. It looks at what is driving the market and where opportunities lie considering factors such as COVID-19 and the Russia-Ukraine conflict. It uses simple language and easy-to-understand visuals such as tables and charts and looks at various aspects such as station size, pressure, and installation type. It forecasts future growth rates and profiles key players in the industry, showing how they are working to stay ahead. Overall, this is a handy guide to understanding where the hydrogen fueling station market is headed.
To learn more about the Hydrogen Fueling Stations: Global Markets Report, click here for details.
Key Drivers of the Hydrogen Fueling Stations: Global Markets
Increasing Funds in Hydrogen Fueling Stations: Investment in hydrogen Fueling stations is increasing, fueled by private and public funding, and the market is expected to grow from $453.6 million in 2023 to $976.4 million in 2028. These charging stations are essential to support the adoption of fuel-cell electric vehicles (FCVs)., especially considering growing concerns about carbon neutrality. Ongoing research aims to improve plant efficiency through innovative technologies such as the refueling of electrolyzers.
Increasing Variation of Fuel Cell Electric Vehicles: As fuel cell vehicles (FCVs) emit zero CO2 emissions, car manufacturers are increasingly incorporating them into their products. Initiatives such as EV30@30, which aim to reach 30% of new electric vehicles worldwide by 2030, are accelerating the adoption of fuel cell vehicles in countries such as Canada, Japan, and India, fueling demand for hydrogen filling stations.
Growing Demand for Clean Energy: As the transport sector has a significant impact on greenhouse gas emissions, there is an urgent need to use cleaner energy sources. Known for its zero-emission performance in fuel cell vehicles, hydrogen fuel is attracting increasing attention. Governments are investing in hydrogen infrastructure to promote its use and reduce carbon emissions.
Reduction of Carbon Emissions: Hydrogen refueling stations are essential to reduce carbon emissions from transport by supporting fuel cell vehicles. Despite challenges such as infrastructure development and high costs, we are working hard to build a clean hydrogen economy and pave the way for a more sustainable future.
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Report Synopsis
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Report Metrics |
Details |
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Base year considered |
2022 |
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Forecast Period considered |
2023 to 2028 |
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Base year market size |
$411.6 million |
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Market Size Forecast |
$976.4 million |
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Growth Rate |
CAGR of 16.6% during 2023-2028 |
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Segment Covered |
By Station Size, Pressure, Station Type, Installation Type, and Region |
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Regions covered |
North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
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Key Market Drivers |
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Segmentation Analysis:
Station Size Segmentation Analysis:
Small Stations: They are compact hydrogen fueling stations designed for local use. They suit the needs of small fleets or specific regions.
Medium Stations: Medium-sized stations have a wider service area and can accommodate a moderate number of fuel cell vehicles.
Large Stations: Large stations are strategically located to handle high volumes of traffic and serve large numbers of fuel cell vehicles.
Pressure Segmentation Analysis:
High-Pressure Stations: These stations supply high-pressure hydrogen (typically 350 bar or more). High-voltage stations offer faster refueling times and are suitable for commercial fleets and long-distance journeys.
Low-Pressure Stations: Low-pressure stations operate at a lower pressure level (usually around 200 bar). They are generally used for smaller applications and urban refueling.
Station Type Segmentation Analysis:
Fixed Stations: Stationary hydrogen fueling stations are permanent facilities with special infrastructure. They are strategically located near highways, city centers, or industrial districts.
Mobile Stations: Mobile stations are mobile and can be moved as needed. They are useful for short-term events, emergencies, or places with limited infrastructure.
Installation Type Segmentation Analysis:
New Stations: The new hydrogen fueling station is being built from scratch to meet the growing demand. These include the latest technology and safety standards.
Old Stations: This category includes existing stations that are being upgraded or renovated. Upgrading existing infrastructure can help you expand your network efficiently.
This Hydrogen Fueling Stations: Global Market report contains comprehensive information and analysis covering the following key questions:
1. What is the projected growth rate of the hydrogen fueling station market?
2. What are the key factors driving the growth of the hydrogen fueling station market?
3. What segments are covered in the hydrogen fueling station market?
4. By pressure, which segment will dominate the market by 2028?
5. Which region has the highest market share in the hydrogen fueling station market?
Some of the Key Market Players Are:
sera GmbH
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Hydrogen Fueling Stations: Global Markets( EGY189A )
Publish Date: Jun 2023
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