Hydrogen Fueling Station Market To Reach $3,213.7 Million By 2030

Hydrogen Fueling Station Market Growth & Trends

The global hydrogen fueling station market size is expected to reach USD 3,213.7 million by 2030, expanding at a CAGR of 25.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is driven by a confluence of factors poised to revolutionize the energy landscape. Increasing global concerns about climate change and the initiatives taken by various governments around the globe to reduce greenhouse gas emissions have catalyzed research for clean and sustainable energy alternatives. Additionally, advancements in hydrogen production technologies, particularly through renewable methods like electrolysis, are significantly enhancing the viability and scalability of hydrogen as an energy carrier.

Moreover, the rising adoption of fuel cell electric vehicles (FCEVs) in the automotive sector, fueled by efforts to meet strict emission standards and achieve decarbonization targets, is also driving the demand for hydrogen fueling infrastructure. Government policies and incentives, ranging from grants to tax credits and regulatory mandates, are further encouraging investment in hydrogen refueling infrastructure, creating a supportive policy framework for market growth. Furthermore, collaborations and partnerships between governments, industry stakeholders, and research institutions are fostering innovation, driving down costs, and accelerating the deployment of hydrogen fueling stations, thereby solidifying its position as a pivotal player in the transition towards a sustainable energy future.

Hydrogen refueling stations are mainly utilized by the transportation industry. In the transportation sector, the rise of fuel cell electric vehicles (FCEVs) is a key driver, with major automakers investing heavily in hydrogen-powered technology to meet stringent emission standards and achieve carbon neutrality targets. Moreover, industries with high energy requirements, such as manufacturing, are turning to hydrogen as a clean alternative for process heating and power generation.

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Hydrogen Fueling Station Market Report Highlights

• Based on size, medium stations segment held the market with the largest revenue share of 55.86% in 2023

• In September 2023, National Thermal Power Corporation, an Indian Public Sector Undertaking under the ownership of the Ministry of Power, announced plans to commission India’s first green hydrogen fueling station in Ladakh (India)

• Based on type, the on-site hydrogen station segment accounted for 53.15% share in 2023 owing to the major application in the automotive industry

• Based on mobility, the mobile-hydrogen station segment is projected to grow at a substantial rate throughout the forecast period

• Based on end-use, the commercial vehicles segment accounted for 45.20% share in 2023 owing to various government initiatives for the adoption of green fuels in public transportation

Hydrogen Fueling Station Market Segmentation

Grand View Research has segmented the global hydrogen fueling station market based on size, type, mobility, end-use, and region:

Hydrogen Fueling Station Size Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Small Station

• Medium Station

• Large Station

Hydrogen Fueling Station Type Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• On-site

• Off-site

Hydrogen Fueling Station Mobility Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Fixed Hydrogen Station

• Mobile Hydrogen Stations

Hydrogen Fueling Station End-use Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• Marine

• Railways

• Commercial Vehicles

• Aviation

Hydrogen Fueling Station Regional Outlook (Volume, Units; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Spain

  • Italy

  • Netherlands

  • Norway

  • Denmark

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Singapore

  • Malaysia

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • UAE

List of Key Players in the Hydrogen Fueling Station Market

• Air Liquide

• China Petrochemical Corporation

• H2ENERGY SOLUTIONS LTD

• Cummins Inc.

• Air Products and Chemicals

• FuelCell Energy, Inc.

• ITM Power PLC

• Ballard Power Systems

• NEL ASA

• TotalEnergies