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Hydrogen Refueling Station Market Trends

Report ID: GMI5678
Published Date: Nov 2024
Report Format: PDF

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Hydrogen Refueling Station Market Trends

Increasing focus on low-carbon technologies to meet climate targets coupled with growing adoption of decarbonization targets in various developing economies will support the development of hydrogen refueling stations. The stations offer key advantages comprising cost effectiveness, lower risks, and can be conveniently located near major retail outlets, existing gas stations, and high-traffic areas to meet real-time demand. Additionally, technological advancements such as process automation and intuitive control screens will drive the product deployment.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for hydrogen refueling station was reached USD 7.3 billion in 2024 and is estimated to grow at a 16.2% CAGR from 2025 to 2034, driven by increasing investments in hydrogen station development.

The small station segment is projected to reach USD 7 billion by 2034, due to ongoing technological advancements that improve efficiency.

The commercial vehicles segment is anticipated to witness a CAGR of over 16% through 2034, supported by efforts to reduce carbon emissions.

The U.S. hydrogen refueling station market is expected to exceed USD 3.3 billion by 2034, led by initiatives to promote hydrogen deployment and a focus on decarbonizing the transportation sector.

Key players in the industry include Air Liquide, Air Products & Chemicals, Cummins, China Petrochemical Corporation, Calvera, Deutsche Bahn, ENGIE, Hydrogen Refueling Solutions, Hyundai Hydrogen Mobility, ITM Power, Iwatani Corporation, Linde, McPhy Energy, Nel ASA, Plug Power, Norwegian Hydrogen, and Shell.