New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on "Hydrogen Fueling Station Market Size, Share and Growth Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product (Retail vs. Non-Retail Stations and Mobile Hydrogen Stations), End-Users (Hydrogen Tube Trailers, Tanker Trucks, Pipeline Delivery, and Railcars and Barges), and Geography" the global hydrogen fueling station market size is expected to grow at a CAGR of 26.4% between 2022 and 2030 with USD 0.6 billion in 2022 to USD 3.9 billion by 2030.
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Global Hydrogen Fueling Station Market Values, Growth Rate, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 0.6 Billion in 2021 |
| Market Size Value by | USD 3.9 Billion by 2030 |
| Growth rate | CAGR of 26.4% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Product and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Hydrogen Fueling Station Market: Competitive Landscape & Key Developments:
Air Liquide, Air Products and Chemicals, Ballard, FirstElement Fuel Inc., Cummins Inc., Linde Group, Nel Hydrogen, PDC Machines Inc., Black and Veatch Holding Company, ITM Power are among the key hydrogen fueling station market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the global hydrogen fueling station market and its ecosystem.
In February 2021, Howden—a UK-based major engineering firm—said that it would provide Everfuel, a leading Danish company, with cutting-edge H2 compressor solutions. Advanced systems are being implemented by businesses like Howden to improve their manufacturing capabilities. These businesses are creating cutting-edge fueling facilities worldwide due to the significant demand for low-carbon solutions. Several businesses adhere to strict emission requirements by implementing low-carbon technology-induced infrastructures supported by favorable government policy frameworks. These components are projected to positively impact the worldwide hydrogen fueling station market during the forecast period.
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Following the recent success of cell electric vehicles powered by hydrogen, hydrogen fueling stations have attracted a lot of attention. Some businesses are attracted to the ease with which fuel cell electric vehicles (FCEVs) may be manufactured. The growing number of retail hydrogen fueling facilities in key areas is helping to enable the initial rollout of fuel cell electric vehicles. The first introduction of fuel cell electric vehicles is supported by the rise in retail hydrogen fueling outlets in several regions. Customers in markets where hydrogen fuel is accessible, especially in California, can buy or lease production FCEVs from manufacturers, including Honda, Hyundai, and Toyota. With more connecting and destination stations, the goal has been to provide hydrogen fuel at existing gas stations serving areas in Northern California close to San Francisco and Southern California close to Los Angeles and San Diego.
Impact of COVID-19 Pandemic on Global Hydrogen Fueling Station Market:
The COVID-19 pandemic impacted the sales of hydrogen fueling stations globally. However, it has created opportunities in addition to demanding situations for the players present inside the ecosystem. The COVID-19 pandemic significantly impacted the automotive sector because of the protracted global lockdowns and the economic crisis, which caused spending on next-generation technology to decline. Major European nations adhered to the stringent social distance guideline to stop the virus's spread. As a result, fuel cell electric vehicle sales were declined.
Several initiatives are being implemented globally to equip these stations with "green" hydrogen or hydrogen created using renewable energy sources such as solar panels and wind turbines. This development is consistent with a global push for carbon-free green energy. According to estimates, several European nations have welcomed the switch to hydrogen-based transportation, which has resulted in the deployment of several hydrogen stations in the region. Germany, France, and the UK are leading the transformation. The NORDICs region has more of these stations deployed to cater to the specific demands of end users. In addition to passenger cars, buses, and trucks, these new fuel cell technologies are also suitable for other end users.
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