Hydrogen Fueling Stations Market by Station Size, Station Type, Vehicle Technology, Delivery Methods, Vehicle Type

Description

List of Tables

[186 Pages Report] The Hydrogen Fueling Stations Market size was estimated at USD 449.39 million in 2023 and expected to reach USD 520.80 million in 2024, at a CAGR 16.83% to reach USD 1,335.64 million by 2030.

Hydrogen fueling stations normally consist of a cooling system, a hydrogen storage system, and a dispenser with a nozzle that connects with the fuel cell vehicle. A hydrogen filling station is built with a variety of compressors and accumulators to efficiently store and fill hydrogen that is either liquid or gaseous. Government initiatives such as tax incentives, subsidies, and regulations to encourage the adoption of zero-emission vehicles improve the emergence of hydrogen fueling stations. However, the high initial costs of producing hydrogen and a lack of fuel infrastructure are expected to impede the growth of the hydrogen fueling stations market. In addition, technological advancements and prospects in the hydrogen fuel cell vehicle and rise in investments & encouragement in administrative policy framework create robust opportunities for the hydrogen fueling stations market.

KEY MARKET STATISTICS
Base Year [2023]	USD 449.39 million
Estimated Year [2024]	USD 520.80 million
Forecast Year [2030]	USD 1,335.64 million
CAGR (%)	16.83%

Station Size: Growing usage of large scale medium stations due to their ability to cater to a large number of vehicles

Large scale industrial facilities manufacturing, transporting, and using huge amounts of H2 fuel are responsible for setting trends for massive hydrogen fuelling retail stations. The medium station category is rising due to increasing efforts to replace the public transport fleet with low-carbon technology. The small category is experiencing significant growth due to an exponential rise in hydrogen-powered passenger and light commercial vehicles.

Station Type: Rising adoption of mobile hydrogen fueling stations to accommodate the varying needs of diverse hydrogen-powered vehicles

Fixed hydrogen fueling Stations are permanent infrastructure systems dedicated to the delivery of hydrogen fuel. These stations comprise a compressor, storage tanks, and dispensers for filling hydrogen-powered vehicles. The comprehensive operations of the fixed stations ensure that they can supply a high volume of hydrogen to satisfy the demands of the locale in which they are established. Their major advantage lies in their ability to provide a constant supply of hydrogen fuel, thereby enhancing the reliability and confidence of users. Mobile hydrogen fueling stations offer a temporary and more flexible hydrogen delivery solution. These mobile units are typically truck-mounted and offer the capacity to transport hydrogen to various locations where the infrastructure is either non-existent or underdeveloped. This makes them an excellent solution for remote, rural, or event-based locations. The distinct benefit of mobile hydrogen fueling Stations lies in their versatility, offering on-demand fueling capabilities almost anywhere.

Vehicle Technology: Expanding the potential of proton exchange membrane fuel cells due to their high power density and compact size

Phosphoric acid fuel cells (PAFC) represent an evolution in the world of fuel cell technology, offering key benefits pertaining to high performance and superior reliability. These fuel cells primarily function on the principle of the electrochemical reaction between hydrogen and oxygen, with phosphoric acid acting as the electrolyte. Further, PAFCs are characterized by a long life span and operational durability, capable of operating continuously. However, the scale and complexity of these systems can lead to high initial investment costs. Proton exchange membrane fuel cells (PEMFC) shine with their high power density and compact size, making them suitable for transportation applications. They operate at relatively low temperatures, which corresponds to quick start-up times. PEMFCs utilize a thin, permeable polymer membrane as an electrolyte and platinum-based catalysts to accelerate reactions. These platinum catalysts enhance efficiency and considerably increase the device's overall cost.

Delivery Methods: Increasing inclination on-site delivery for hydrogen production as it reduces transportation costs

Off-site delivery refers to hydrogen production at a location remote from the point of use, followed by delivery through trucks or pipelines. The off-site production method is typically characterized by economies of scale. As production volumes increase, costs per unit of hydrogen can decrease, granting this method a cost advantage for applications demanding large amounts of hydrogen. On-site delivery refers to the production of hydrogen directly at the fueling station. Hydrogen is produced through methods such as electrolysis of water or natural gas reformation. This method reduces transportation costs and associated greenhouse gas emissions, thereby aligning with the overarching goal of utilizing hydrogen as a cleaner fuel alternative.

Vehicle Type: Growing adoption of hydrogen-based commercial vehicles for the transportation of goods

Commercial vehicles include those intended for the transportation of goods or paying passengers. They cover a wide range of vehicle types, from light-duty vans and trucks to heavy-duty trucks and buses. Hydrogen fuel has the remarkable potential to be adopted at a larger scale in these vehicles due to its key attribute of producing zero tailpipe emissions. Additionally, hydrogen fuel cells can provide an excellent alternative to conventional combustion engines, powering these vehicles over long ranges which is necessary in the transport and logistics industry. Passenger vehicles are typically designed for the transportation of people rather than goods. This category includes sedans, SUVs, and minivans, among others. Hydrogen Fuel Cell Electric Vehicles (FCEVs) provide an eco-friendly alternative to traditional gasoline vehicles, contributing significantly to lowering carbon dioxide emissions. They create an optimal balance of range and refueling time, similar to conventional vehicles. Currently, a limited number of manufacturers produce FCEVs, implying that availability could be a factor limiting adoption.

Regional Insights

In North America, the use of hydrogen filling stations is improved by tax benefit laws, the availability of different scale enterprises, technological developments, and committed research and development projects. The U.S. and Canada have observed a considerable increase in hydrogen fueling stations by constructing new facilities due to favorable policies. Countries such as Japan, South Korea, Germany, and the United States have set ambitious targets for deploying hydrogen fuel cell vehicles and are investing heavily in developing hydrogen infrastructure. Japan, China, and South Korea have introduced the deployment of massive hydrogen fuel cell vehicles and a positive roadmap for installing hydrogen fueling station facilities. In Europe, the market's growth can be attributed to the favorable government policies on carbon reduction implemented by the European Union and the rapid expansion of new fueling stations, which boost the need for advanced hydrogen fueling stations in the region. In April 2022, TotalEnergies opened a new hydrogen refueling station in the Netherlands. The station was an Interreg project, 'Hydrogen Region 2.0', coordinated by the H2 knowledge and cooperation platform WaterstofNet.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Hydrogen Fueling Stations Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Hydrogen Fueling Stations Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Hydrogen Fueling Stations Market, highlighting leading vendors and their innovative profiles. These include Air Liquide S. A., Air Products and Chemicals, Inc., Ally Hi-Tech Co.,Ltd., AW-Lake, Ballard Power Systems Inc., Black & Veatch Holding Company, Bloom Energy Corporation, Cummins Inc., Doosan Group, Dover Fueling Solutions, H2 MOBILITY Deutschland GmbH & Co. KG, Haskel Inc., HORIBA, Ltd., ITM Power PLC, Iwatani Corporation of America., Linde PLC, Nel ASA, NUVERA FUEL CELLS, LLC, Parker-Hannifin Corporation, PDC Machines, Plug Power Inc., PowerTap., Powertech Labs Inc., Schmidt, Kranz & Co. GmbH, sera GmbH, Shell PLC, Toyota Motor Manufacturing Canada Inc., and WEH GmbH.

Market Segmentation & Coverage

This research report categorizes the Hydrogen Fueling Stations Market to forecast the revenues and analyze trends in each of the following sub-markets:

Station Size
- Large
- Medium
- Small

Station Type
- Fixed Hydrogen Station
- Mobile Hydrogen Station

Vehicle Technology
- Phosphoric Acid Fuel Cell
- Proton Exchange Membrane Fuel Cell

Delivery Methods
- Off-Site
- On-Site

Vehicle Type
- Commercial Vehicle
- Passenger Vehicle

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Hydrogen Fueling Stations Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Hydrogen Fueling Stations Market?

3. What are the technology trends and regulatory frameworks in the Hydrogen Fueling Stations Market?

4. What is the market share of the leading vendors in the Hydrogen Fueling Stations Market?

5. Which modes and strategic moves are suitable for entering the Hydrogen Fueling Stations Market?

Product Code: MRR-5C438D4593D0

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rapidly increasing adoption of fuel cell vehicles
  - 5.1.1.2. Rising consumer awareness and inclination towards low-emission fuels
  - 5.1.1.3. Government initiatives towards expansion of hydrogen fueling stations
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with hydrogen fueling station operations
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of novel technologies in hydrogen fueling stations
  - 5.1.3.2. Rising strategic alliances and investments in hydrogen fueling stations
- 5.1.4. Challenges
  - 5.1.4.1. Scalability issues related to hydrogen fueling stations
5.2. Market Segmentation Analysis
- 5.2.1. Station Size: Growing usage of large scale medium stations due to their ability to cater to a large number of vehicles
- 5.2.2. Station Type: Rising adoption of mobile hydrogen fueling stations to accommodate the varying needs of diverse hydrogen-powered vehicles
- 5.2.3. Vehicle Technology: Expanding the potential of proton exchange membrane fuel cells due to their high power density and compact size
- 5.2.4. Delivery Methods: Increasing inclination on-site delivery for hydrogen production as it reduces transportation costs
- 5.2.5. Vehicle Type: Growing adoption of hydrogen-based commercial vehicles for the transportation of goods
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Hydrogen Fueling Stations Market, by Station Size

6.1. Introduction
6.2. Large
6.3. Medium
6.4. Small

7. Hydrogen Fueling Stations Market, by Station Type

7.1. Introduction
7.2. Fixed Hydrogen Station
7.3. Mobile Hydrogen Station

8. Hydrogen Fueling Stations Market, by Vehicle Technology

8.1. Introduction
8.2. Phosphoric Acid Fuel Cell
8.3. Proton Exchange Membrane Fuel Cell

9. Hydrogen Fueling Stations Market, by Delivery Methods

9.1. Introduction
9.2. Off-Site
9.3. On-Site

10. Hydrogen Fueling Stations Market, by Vehicle Type

10.1. Introduction
10.2. Commercial Vehicle
10.3. Passenger Vehicle

11. Americas Hydrogen Fueling Stations Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Hydrogen Fueling Stations Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Hydrogen Fueling Stations Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Bestpath Enters into definitive merger agreement with Aquaron Acquisition Corp.
- 14.3.2. Air Products Qudra signs agreement with ENOWA to build, own and operate NEOM's first hydrogen fueling station
- 14.3.3. FirstElement Fuel partners with Hyundai Motor on hydrogen refueling of class 8 fuel cell electric trucks, driving over 25K miles with zero emissions
- 14.3.4. Sinopec launches China's first integrated methanol-to-hydrogen and hydrogen refueling station
- 14.3.5. ENOC, DEWA partner to develop hydrogen fueling project
- 14.3.6. Nikola Launches First Hydrogen Fuel Cell Truck Mobile Fueler
- 14.3.7. DOE Boosts Hydrogen Efforts With $750 Million in Funding
- 14.3.8. Flowserve and Chart Industries announce partnership to further enable hydrogen economy
- 14.3.9. Amara Raja Group: NTPC awards Amara Raja Group India's first green hydrogen fueling station project
- 14.3.10. Accelerated expansion of H2-refuelling infrastructure: H2 MOBILITY Deutschland moves ahead with €110m investment plan and Hy24 managed fund as a new financial shareholder
- 14.3.11. Chevron, Iwatani announce agreement to build 30 hydrogen fueling stations in California
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio