Hydrogen Fueling Station Market

Hydrogen Fueling Station Market Size (2022 - 2027)

The Global Hydrogen Fueling Station Market was valued at USD 0.44 billion in 2021 and is projected to reach the valuation of USD 2.8 billion by 2027 and is predicted to register a CAGR of 31.2% between 2022 and 2027

A hydrogen fuelling station is a storage and filling station for hydrogen gas or liquid. The components are liquid storage tanks, compressors, super compressors, and dispensers. Firstly, hydrogen is brought to the filling station in a truck to the filling station. It can also be supplied with the help of pipelines to the station, as it exists in many countries. The next component is compressors, where the liquid form of hydrogen is converted into gas form by passing it through vaporizer towers, where the hydrogen liquid is heated at high temperatures until the gas form is achieved. Then it is passed to the next component, super compressors, where the hydrogen gas is compressed at high pressure. This can be done according to the two standards, H35 half pressure and H70 full pressure.

After that, it is stored in storage tanks at the fueling stations. The storage tanks are above the ground as compared to the gasoline tanks, which are below the ground. The last component is the dispenser, where before passing through the pumps, the gas should be cooled down through heat exchangers to prevent the cars from overheating and maintain the energy density of the hydrogen gas.

Market Drivers:

Over the forecast period, the hydrogen fueling station market is expanding rapidly as a result of the rising demand for hydrogen-powered vehicles. Hydrogen is considered a clean and flexible energy source to support zero-carbon energy emissions. The vehicles are more powerful and energy efficient than gasoline-driven ones, and the declining cost of hydrogen fuel is driving the hydrogen fueling station market. Different automobile manufacturers are planning to launch new FCEVs and support the government's zero emission strategies. The use of green hydrogen in many sectors, like automobiles, aerospace, and manufacturing industries, is also expanding the market.

Market Restraints:

The construction cost of a hydrogen fuelling station is very high as it requires building various components of inflammable hydrogen fuel, which is a significant barrier to the market's expansion. If hydrogen gas escapes from its containment, it can affect safety issues, which is also a factor limiting growth.

HYDROGEN FUELING STATION MARKET REPORT COVERAGE:

Market Segmentation:

Hydrogen Fueling Station Market - By Type:

• Small Station
• Medium Station
• Large Station

The small station segment is predicted to grow at a high rate because of the increase in the number of hydrogen-powered passenger vehicles. Many customers are adapting to zero-emission vehicles, and various countries' governments are supporting the move.

Hydrogen Fueling Station Market - By Product:

• Retail
• Non-Retail
• Mobile hydrogen Stations

The mobile hydrogen refueling station is growing during the forecasted period because of its various benefits, such as a high level of flexibility and the ability to be modified according to customer needs. These can also be moved from one place to another in comparison to the retail and non-retail hydrogen fueling stations, which are fixed structures.

Hydrogen Fueling Station Market - By End-User:

• Hydrogen Tube Trailers
• Tanker Trucks
• Pipeline Delivery
• Railcars and Barges

At present, the Pipeline Delivery segment occupies the largest share of the market and is projected to grow. The most energy-efficient and cost-effective method of delivering hydrogen is through a pipeline. The pipeline is expected to witness the highest adoption rate for large-scale hydrogen transportation in the future as the hydrogen energy industry develops. Hydrogen Market Regional Analysis:

• Asia Pacific
• North America
• Europe
• Latin America
• Middle East & Africa

The Asia-Pacific region is estimated to hold the highest position in the hydrogen fueling station market. China, Japan, and Korea are among the leading countries that are moving towards zero emissions and introducing various policies. The government is providing funding for the hydrogen-based fuelling station facilities, which is a key factor in this region's growth.

Hydrogen Fueling Station Market Key Players:

1. Fuel Cell Energy Inc
2. Air Products
3. Cummins Inc
4. Ballard
5. ITM Power.
6. Air Liquide
7. Hydrogenics
8. Linde Group
9. Black and Veatch Holding Company
10. Praxair

Hydrogen Fueling Station Market Recent Developments:

• In December 2021, Air Products has announced the opening of its first hydrogen fuelling station in Shandong Province in a joint effort with the local government to support China's "Hydrogen into Ten Thousand Homes" initiative to fuel buses and trucks for environmentally friendly transportation.
• In July 2020, Linde has announced that work on the world's first hydrogen refueling station for passenger trains will begin in Bremervorde, Germany.
• In March 2021, Air Products and Baker Hughes have announced a collaboration for Global Hydrogen Projects in which they will develop next-generation hydrogen compression to lower production costs and increase the use of hydrogen fuel to achieve zero carbon emissions.