Hydrogen Fueling Station Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Hydrogen Fueling Station Market grew at a CAGR of 15.3% between 2017-2021 and is estimated to be US$ 317.4Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 24.2% and is expected to reach a valuation of US$ 2,772.2Mn by 2032 end.
Numerous nations have implemented strict restrictions to limit GHG emissions over the short, medium, and long term due to rising carbon emission levels. The massive goals set by national and regional governments worldwide have raised the focus on implementing low-carbon technologies, which will complement the demand for FCEVs and expand the worldwide market.
ChemView Consulting has analyzed that consumers’ growing propensity to use different kinds of zero-emission automobiles opens up new business opportunities. Numerous small- and large-scale automakers have launched new initiatives to increase FCEV adoption and help the shift toward the decarbonization of the automotive industry. In the coming ten years, green trucks will become more affordable and accessible because of ongoing improvements in fuel technologies and zero-emission cars, according to a March 2022 report by the DOE’s National Renewable Energy Laboratory.
The small market is expanding significantly due to the rapid rise in passenger and light commercial vehicles using hydrogen fuel. The expansion of programs to replace the fleet of public vehicles with low-carbon technology will probably spur demand for medium-sized stations.
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Segments Covered in Report
By Station Type:
- Medium Stations
- Large Stations
- Small Stations
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
By Vehicle Technology:
- Proton Exchange Membrane Fuel Cell
- Phosphoric Acid Fuel Cells
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Hydrogen Fueling Station Market
- Based on the station type, the small market is expanding significantly due to the rapid rise in passenger and light commercial vehicles using hydrogen fuel. The expansion of programs to replace the fleet of public vehicles with low-carbon technology will probably spur demand for medium-sized stations.
- Based on the region, Asia Pacific is anticipated to account for the greatest market share for hydrogen refueling stations worldwide in the upcoming years. The area had a market share of 43.0% and was valued at USD 0.22 billion.
Competition Summary
Key companies covered in the market study are Air Liquide, Ballard Power Systems, FirstElement Fuel, Inc., Air Products, Hydrogenics, Praxair, Inc, Nel Hydrogen, Linde Engineering, FuelCell Energy, Nuvera Fuel Cells, LLC
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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