(MENAFN- GlobeNewsWire - Nasdaq) Alliances orient public strategies and private funding to augment the fueling Network is driving the hydrogen fueling station market.
New York, USA, Nov. 28, 2024 (GLOBE NEWSWIRE) -- market Overview:
Polaris Market Research's latest analysis reveals that the market for hydrogen fueling station is on a growth trajectory. The hydrogen fueling station market size was valued at USD 498.95 million in 2024 and is projected to grow to USD 4,288.21 million by 2034. It is anticipated to exhibit a CAGR of 24.0% from 2025 to 2034.
Market Introduction:
The procedure of refueling at a hydrogen station is dissimilar to that of a traditional petrol station, albeit there are a handful of particulars that render the experience a little varied. This is because hydrogen is furnished at excessive pressure, and it is an extremely eruptive gas; the association between the vehicle's holder or interaction point and the pump should ideally be watertight.
The hydrogen is pushed into the vehicle's fuel tank, which ignites the fuel cell that creates the electricity required to drive the vehicle. The sole refuse is water vapor, which is thrown out through the exhaust pipe. Dissimilar to traditional filling stations, hydrogen is vented by the kilo, not by the liter, and the refueling time for a traditional bus, which normally has a potential between 30 to 30.75 kilos, does not exceed 12 minutes.
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Report Features:
Market Data : In-depth analysis of annual sales and market forecasts in USD million from 2025 to 2034. Regional Analysis : Detailed insights into all the key market regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Company Profiles : Coverage of major companies in the hydrogen fueling station market, such as Air Liquide, China Petrochemical Corporation, H2ENERGY SOLUTIONS LTD, and Cummins Inc. Customization : Get customized reports as per your requirements with respect to countries, regions, and segmentation.
Key Players and Market Developments:
Air Liquide, China Petrochemical Corporation, H2ENERGY SOLUTIONS LTD, Cummins Inc., Linde plc, Air Products and Chemicals, FuelCell Energy, Inc., ITM Power PLC, Ballard Power Systems, NEL ASA, and TotalEnergies are the hydrogen fueling station market, key players. These players strive to garner a larger share of the market through innovations and strategic partnerships.
Some of the latest industry developments are:
October 2023: installment Fuel Inc. instigated an elevated potential hydrogen station in Oakland, California, augmenting its True Zero network to 41 sites. November 2023 : Calvera Hydrogen instigated two refueling hydrogen stations in Poland situated in Katowice and Poznań, outlined for cars and buses.
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Market Growth Drivers:
Growth Usage in Manufacturing and E-Commerce Industries : Industries such as manufacturing and e-commerce are acquiring hydrogen fuel cell forklifts and instruments for warehouses and dissemination centers. This acquisition generates demand for on the spot hydrogen fueling stations with industrial spaces. Additionally, hydrogen is growingly utilized in aviation, maritime, and substance-managing industries, surpassing passenger vehicles. Growing Demand for Hydrogen Fueling Vehicles : The growing demand for hydrogen-fuelled vehicles involving passenger cars, buses, and trucks is fueling the framework. FCEVs offer benefits such as speedier refueling times and prolonged driving ranges rendering them appropriate for future conveyance and commercial applications. Due to the growing focus on clean potency, governments are reinforcing subsidies, tax breaks, and zero-discharge vehicles, speeding the acquisition of hydrogen fueling stations. Government Grants and Subsidies : Governments globally are instigating subsidies, grants, and tax inducements to speed up the advancement of the hydrogen framework and encourage clean energy acquisition. Fiscal inducements decrease the capital and functional prices linked with structuring and functioning hydrogen fueling stations, inspiring funding from the public and private sectors.
Regional Analysis:
Asia Pacific : Asia Pacific accounted for the largest hydrogen fueling station market share. The region's dominance is largely due to the region's robust allegiance to hydrogen energy acquisition, and government-supported inducements encouraging decarbonization. Nations such as Japan, South Korea, and China are spearheading enterprising hydrogen strategies, sizeable funding, and subsidies targeted at structuring hydrogen framework. North America : North America is projected to register a significant CAGR in the hydrogen fueling station market from 2025 to 2034. The growth is primarily fueled by the growing acquisition of hydrogen powered vehicles. Hydrogen-fueled intense trucks, buses, trains, and other vehicles push the requirement for a broader framework of fueling stations.
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Market Segmentation:
By Size Outlook:
Small Station Medium Station Large Station
By Type Outlook:
By Mobility Outlook:
Fixed Hydrogen Station Mobile Hydrogen Station
By Pressure Outlook:
Low Pressure High Pressure
By End Use Outlook:
Marine Railways Commercial Vehicles Aviation
By Regional Outlook:
North America Europe Germany France UK Italy Spain Netherlands Russia Rest of Europe
Asia Pacific China Japan India Malaysia South Korea Indonesia Australia ietnam Rest of Asia Pacific
Middle East & Africa Saudi Arabia UAE Israel South Africa Rest of the Middle East & Africa
Latin America Mexico Brazil Argentina Rest of Latin America
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