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North America Hydrogen Refueling Station Market Trends

Report ID: GMI11582
Published Date: Sep 2024
Report Format: PDF

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North America Hydrogen Refueling Station Market Trends

Hydrogen fuel cell technology is especially suited for heavy-duty trucks due to its ability to offer long ranges without requiring lengthy refueling times, leading to enhanced product penetration. Companies like Nikola, Hyundai, and Toyota are at the forefront of developing hydrogen-powered heavy-duty trucks in North America. Hydrogen refueling stations are increasingly being developed along major freight routes, such as California’s I-5 corridor and Canada’s Trans-Canada Highway, where heavy-duty trucks require refueling. Furthermore, cities like Los Angeles, Vancouver, and New York have been deploying hydrogen buses in pilot programs, with plans to expand their fleets as the hydrogen infrastructure develops, stimulating the business landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of North America hydrogen refueling station was USD 219.9 million in 2023 and is projected to grow at a CAGR of over 23.6% through 2032, driven by increased government support and the expansion of hydrogen-powered vehicle initiatives.

Small-sized hydrogen refueling stations are projected to surpass USD 713 million by 2032, driven by increasing demand for localized, scalable refueling solutions in regions with developing hydrogen infrastructure.

The U.S. hydrogen refueling station market is set to surpass USD 2.2 billion by 2032, driven by increasing demand for hydrogen infrastructure, particularly in sectors such as transportation, logistics, and heavy-duty vehicles.

The passenger cars segment is anticipated to grow at a CAGR of over 23% through 2032, on account of the state’s Zero Emission Vehicle (ZEV) mandate and its robust hydrogen refueling infrastructure.

Prominent players in the North America hydrogen refueling station sector include Air Liquide, Cummins, Chart Industries, Galileo Technologies, Hydrogen Refueling Solutions, Ingersoll Rand, Iwatani, Linde, Plug Power, Mcphy, and Nel.