Hydrogen Refueling Station Market Analysis

Hydrogen Refueling Station Market Analysis

To get key market trends

  Download Free Sample

Small hydrogen refueling station market revenue will expand at a rate of over 21.5% by 2032, on account of ongoing technological advancements focusing on efficiency improvements. A hydrogen station is usually designed with its intended use, wherein there are two standard for hydrogen refueling stations including hydrogen refueling at high pressure (700 bar) or at low pressure (350 bar). The commercial cars usually utilize the H70 technology and are filled at high pressure while the light duty vehicles use up hydrogen at low pressure (H35). Increasing adoption of fuel cell electric vehicles requiring a high consumption of hydrogen specially across the Europe region will augment the market value. In addition, key factors including requirement of less investment, ease of operations along with roll out of subsidy programs will positively enhance the industry outlook.
 

Mobile hydrogen refueling station market is set to reach USD 7.7 Billion by 2032. The mobilized refueling stations can be made available across the country/state with the option to be easily deployable as and when driving patterns change. Key advantages including lower cost and risk, ability to travel to and from the big box stores, existing gas stations, and high-traffic locations to meet real-time demand in comparison to the fixed stations will influence the industry trends. Further, technological advancements including process automation and intuitive control screens is anticipated to contribute to the hydrogen mobility deployment.
 

The hydrogen refueling station market from commercial vehicles segment accounted for more than USD 1.2 Billion revenue in 2022, due to ongoing modern technological advancements along with development of new concepts. For instance, Linde introduced its modularization concept specifically for use across commercial vehicles comprising buses to contribute to the high product demand. Further, it provides high reliability and availability, enhanced performance and optimized TCO and safety to all the end users. Key factors including cost benefits, operational advantages in comparison to battery vehicles including range, speed of fueling, elimination of heavy batteries among others will boost the industry size. Shifting focus toward development of hydrogen bus or truck fleet along with the development of large fleet of intralogistics fleet will further strengthen the market growth.
 

Asia Pacific hydrogen refueling station market will cross USD 16.8 billion by 2032, owing to rising pressure to curb the carbon emissions, growing initiatives to accelerate the hydrogen deployment, and shifting focus to decarbonize the transportation sector. Integrated remote monitoring and automatic control systems enhances the product performance. In addition, large scale investments by the governments across the developing economies of the region, to propel the utilization of hydrogen among the consumers will positively influence the business growth.