Asia Pacific Hydrogen Refueling Station Market Size - By Station Size (Small Station, Mid-Size Station, Large Station), By Station Type (Fixed, Mobile), By Application (Passenger Cars, Commercial Vehicles) & Forecast, 2024 – 2032

Asia Pacific Hydrogen RefuelingStation Market Size

Asia Pacific Hydrogen Refueling Station Market size was valued at USD 3.68 billion in 2023 and is expected to grow at 17.7% CAGR from 2024 to 2032.
 

A hydrogen refueling station is a specialized charging facility designed for the dispensing of hydrogen fuel to vehicles equipped with hydrogen fuel cell systems. These stations are essential for the development and expansion of the hydrogen fuel cell vehicle (FCV) market. Stringent government norms to curb the carbon emissions will significantly contribute towards the deployment of hydrogen stations.
 

COVID- 19 Impact

The COVID- 19 pandemic significantly impacted the regular operations in the industry marked by severe lockdowns, production facility shutdowns, and disruptions across the supply chain during the initial and subsequent waves, impacting the overall demand for HRS. However, widespread vaccination campaigns along with the implementation of stringent global travel restrictions, will support the market growth. Major industry players are focusing to establish a strong hydrogen network delivering low carbon energy supply across the end users to stimulate the business dynamics.
 

Asia Pacific Hydrogen Refueling Station Market Trends

These stations typically receive hydrogen from various sources, including electrolysis or steam methane reforming, and store it for on-demand dispensing to the FCVs. These stations play a critical role in supporting the adoption of hydrogen-powered vehicles by providing a convenient and efficient means of refueling. Furthermore, increasing investments in refueling & storage and development infrastructure would support in increasing the cost competitiveness of carbon extensive hydrogen.
 

Asia Pacific Hydrogen Refueling Station Market Analysis

Small size hydrogen refueling station market was value at USD 1.9 billion in 2022, on the account gaining traction as a clean energy solution and increasing awareness among the consumers. Collaborative efforts to create international hydrogen corridors for long-distance travel along with ongoing research and development are leading to advancements in HRS technology will drive the business trends. Thereby, paradigm shift towards the introduction of environment friendly fuel sources have significantly inclined the users interest toward low emission & renewable hydrogen solutions.
 

Fixed hydrogen refueling station market is set to reach USD 11.3 billion by 2032. Rising deployment across the developing economies of the region coupled with provision of financial incentives and subsidies to promote the installation will sway to industry scenario. Moreover, many fixed HRSs are incorporating renewable energy sources, such as solar and wind, to generate clean hydrogen through on-site electrolysis, thereby enhancing the product demand. The production aligns with sustainability goals and reduces the carbon footprint of the hydrogen supply chain, further driving the Asia Pacific hydrogen refueling station market outlook.
 

Passenger cars market is projected to observe more than 18% growth rate up to 2032, on the account of automotive industry exploring cleaner and more sustainable transportation options. Ongoing expansion of hydrogen fueled vehicles in the urban and intercity locations to accommodate the daily commuting and long-distance travel needs will contribute to the business scenario. Technological advancements along with significant focus on the safety measures will enhance the reliability, thereby strengthening the product adoption. Additionally, surging public and private partnerships in line with advancements in efficiency and cost-effectiveness will foster the Asia Pacific hydrogen refueling station market growth.
 

China hydrogen refueling station market will grow at a CAGR of over 19.8% through 2032, fueled by modern technological advancements. Ongoing government efforts for the development of the hydrogen industry, including the HRS infrastructure will augment the industry landscape. Financial incentives, subsidies, and supportive policies are further driving investment in the business. For instance, the country's 14th Five-Year Plan includes ambitious targets for hydrogen fuel cell vehicles and HRS installations. Therefore, continuous investment in infrastructure and technology will further boost the industry potential.
 

Asia Pacific Hydrogen Refueling Station Market Share

Major players operating across the Asia Pacific hydrogen refueling station market include

• Air Liquide
• Air Products & Chemicals, Inc., Shell
• China Petrochemical Corporation
• Jakson Group
• Plug Power Inc.
• Nel ASA
• Linde plc
• Iwatani Corporation
• ENGIE
• HyundaiHydrogenMobility AG
• Cummins Inc.
• Toshiba Energy Systems & Solutions Corporation
• Kawasaki Heavy Industries, Ltd.
• Panasonic Holdings Corporation

These participants are actively involved in strategic joint ventures & contracts to capture the majority of market share.
 

Asia Pacific Hydrogen Refueling Station Industry News

• In April 2023, Jackson Group announced the development of hydrogen refueling station in New Delhi, India. The project is expected to reduce 3.7 tons of carbon emissions per day. The station will use green energy to generate, compress, store & dispense green hydrogen. The company also aims to integrate battery energy storage system making it self-sustained station. The addition of the new plant will strengthen the company’s portfolio and augment its position across the industry.
   
• In November 2019, Sinopec and Air Liquide opened two hydrogen refueling stations in China. These stations were rebuilt from the existing gas stations integrated with Air Liquide’s latest hydrogen equipment and technology. The companies aim to foster the hydrogen infrastructure network and facilitate the hydrogen development across the country. The commissioning of stations will further support the company in establishing a strong footprint in Asia Pacific region.
   

This Asia Pacific hydrogen refueling station market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘Units & USD Million’ from 2023 to 2032 for the following segments:

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By Station Size

• Small Station
• Mid-Size Station
• Large Station

By Station Type

• Fixed
• Mobile

By Application

• Passenger Cars
• Commercial Vehicles
• Others

The above information has been provided for the following countries:

• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia