PUBLISHER: The Business Research Company | PRODUCT CODE: 1619664
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619664
Hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure refers to the systems and facilities designed to produce, store, distribute, and dispense hydrogen and renewable natural gas as alternative fuels. This infrastructure supports using these fuels in vehicles, industrial processes, or energy generation, promoting cleaner energy sources with lower environmental impact. This combined infrastructure is crucial in advancing sustainable energy systems, particularly transportation and industrial applications.
The main types of hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure are hydrogen production facilities, hydrogen storage facilities, hydrogen transportation infrastructure, hydrogen refueling stations, and others. Hydrogen storage involves methods and technologies for storing hydrogen gas, such as high-pressure tanks, cryogenic storage, or chemical storage options such as metal hydrides. The various production include steam methane reforming, coal gasification, electrolysis, and others that are stored through different storage such as compression, liquefaction, and material.
The hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market research report is one of a series of new reports from The Business Research Company that provides hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market statistics, including hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure industry global market size, regional shares, competitors with a hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market share, detailed hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market segments, market trends, and opportunities, and any further data you may need to thrive in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure industry. This hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market size has grown exponentially in recent years. It will grow from $13.64 billion in 2023 to $17.41 billion in 2024 at a compound annual growth rate (CAGR) of 27.6%. The growth during the historic period can be attributed to the rise in solar-driven hydrogen fuel production, improved efficiency of solar panels and electrolyzers, increased efforts by public and private corporations, supportive government policies and incentives, and a growing demand for sustainable fuel alternatives.
The hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market size is expected to see exponential growth in the next few years. It will grow to $44.96 billion in 2028 at a compound annual growth rate (CAGR) of 26.8%. The growth during the forecast period can be attributed to the global drive to cut greenhouse gas emissions, rising demand for clean energy, increasing adoption of hydrogen fuel cell vehicles, expansion of renewable energy sources, and growing investments in hydrogen refueling infrastructure. Key trends in the forecast period include technological innovation, the development of hydrogen hubs, establishment of standardized safety protocols, product advancements, and progress in enabling efficient hydrogen production.
The growing demand for renewable energy sources is expected to drive the expansion of the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market in the future. Renewable energy sources are those that are naturally replenished on a human timescale and can be used continuously without depleting their supply. This demand stems from environmental concerns, government policies, and climate goals. Hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure is utilized to produce, store, and distribute renewable hydrogen and natural gas, helping to reduce reliance on fossil fuels and lower emissions for sustainable transportation and energy generation. For example, Eurostat, a Luxembourg-based government agency, reported in December 2023 that renewable energy accounted for 23.0% of energy consumed in the European Union in 2022, an increase from 21.9% in 2021. Consequently, the rising demand for renewable energy is fueling growth in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market.
Major companies in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market are concentrating on developing advanced solutions such as cutting-edge hydrogen generation systems to improve efficiency, lower costs, and foster the growth of a sustainable, low-carbon energy ecosystem. An advanced hydrogen generation system is a sophisticated technology designed to produce hydrogen in a more efficient and sustainable manner. These systems aim to offer a cleaner, more efficient, and adaptable approach to hydrogen production, promoting wider adoption of hydrogen as an energy source. For example, in August 2022, Southern California Gas Company (SoCalGas), a US-based utility, introduced the H2 SilverSTARS, an innovative hydrogen generation system at SunLine Transit Agency in Thousand Palms, California. This system is designed to produce clean hydrogen from renewable natural gas (RNG) to fuel SunLine Transit Agency's hydrogen fuel cell electric buses. The H2 SilverSTARS system is capable of generating up to 80 kilograms of clean hydrogen daily, enough to power three of SunLine's zero-emission buses. The compact system utilizes low-cost 3D-printed reactor disks and heat exchangers, allowing for easy installation at fueling stations to meet demand while advancing climate and clean air objectives.
In March 2023, Gunvor USA LLC, a US-based commodities trading company, partnered with Yosemite Clean Energy LLC to advance the development of green hydrogen from biomass. This collaboration aims to expedite the energy transition by marketing all green hydrogen produced at Yosemite's facilities, helping to reduce wildfire risks and promote sustainable energy solutions in California. Yosemite Clean Energy LLC is a US-based bioenergy development company that specializes in converting biomass into carbon-negative biofuels, including green hydrogen.
Major companies operating in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market are TotalEnergies SE, BP p.l.c., Siemens AG, Iberdrola S.A., Thyssenkrupp AG, Linde PLC, Air Liquide S.A., Cummins Inc., Air Products and Chemicals Inc., Chart Industries Inc., Plug Power Inc., Nel ASA, FuelCell Energy Inc., Ballard Power Systems Inc., FASTECH, Green Hydrogen Systems A/S, McPhy Energy S.A., Hydrogenics Corporation, H2 Mobility Deutschland GmbH & Co. KG, Hyzon Motors Inc.
Asia-Pacific was the largest region in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market in 2023. The regions covered in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market includes revenues earned by entities by distribution networks, fueling stations, integrated systems, and blended infrastructure. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Hydrogen (H2) + Renewable Natural Gas (RNG) Fueling Infrastructure Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The hydrogen (H2) + renewable natural gas (RNG) fueling infrastructure market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.