Hydrogen Fueling Station Market

[299 Pages Report] The worldwide hydrogen fueling stations market is expected to be worth USD 0.5 billion in 2024 and reach USD 1.8 billion by 2030, expanding at a CAGR of 23.8% will also propel the market growth.

With growing demands for zero-emission vehicles, driven by environmental concerns and strict emission regulations, the requirement for hydrogen refueling stations has also grown manyfold. Hydrogen fuel cell vehicles, being one of the zero-emission vehicles, have no tailpipe pollutants at all and therefore offer a very attractive solution to urban air pollution and climate goals. As the ZEV market grows, so does the demand for associated supporting infrastructure such as hydrogen refueling stations. World governments have already started to offer tax breaks, grants, subsidies, and funding toward infrastructure development to spur the use of hydrogen technology and, in the end, to reduce GHG emissions.

The progress of technology drives the cost of hydrogen production, transport, and storage down together. Advances in electrolyzers, fuel cells, and storage bring costs down, while improving efficiency. Once hydrogen is applied to a wider range of industrial processes, such as steelmaking, the manufacture of ammonia, and refining, demand for secure supplies of hydrogen and related infrastructure will continue to grow.

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Hydrogen Fueling Stations Market Dynamics

"Driver: Hundreds of hydrogen plants are in development by governments worldwide.

In respect to this, it is said that some 1,000 hydrogen stations worldwide might address the requirements of 1 million to 2 million fuel cell autos on major Asian, European, and North American markets within a few years. That would be a stepping stone toward a fuller hydrogen infrastructure. Where the rollout of fuel cell cars is patchy and slow, many governments are resorting to public funds to incentivize the shift to green technologies like fuel cell cars and hydrogen fuelling stations. Companies that have led the development of fuel cell cars directly subsidize the cost of hydrogen fuel for a good many years following the lease or purchase of the car. The more common case of cost sharing between the government and industry is that of forthcoming stations under development. Many governments are trying to channel investments into sustainable, long-term business opportunities. A study by the Hydrogen Council finds that, in 2023, it is Europe that retains its top position in proposed hydrogen projects with a total of USD 117 billion invested, making up 35% of investments globally. An absolute increase of USD 40 billion has also been noted in Europe. Latin America and North America are catching up with Europe, both accounting for some 15% of announced investments."

Restraints: Significant initial investment requirements

Hydrogen fuelling stations usually use either provided hydrogen or on-site generated hydrogen. Hydrogen is being delivered in truck/pipeline or in liquid hydrogen form, and it is normally compressed gaseous hydrogen or liquid hydrogen. Delivery stations have very simple operating and infrastructure, so the investment cost is low. The cost of hydrogen will, however, be entirely dependent upon the retail price of hydrogen and utility costs over which the end user has no control, despite the fact that they may align with the conditions for operation at the agreed price. Noting that the price of hydrogen fuel includes delivery and lease costs of the vehicle, these can also be of the same order as the retail hydrogen price. Hydrogen fueling stations with on-site supplies are complex because an HPP is combined with the fueling station, and compression units have to be installed. Higher operational flexibility is naturally associated with higher CAPEX. On the other hand, low-price electricity contracts or even self-production of electricity from renewable energies could substantially reduce the OPEX.

Opportunities: Government initiatives to accelerate the deployment of hydrogen fueling stations

In the last two years, there has been a significant increase in the number of announced and forthcoming national hydrogen policies. The aims for developing hydrogen generating systems are growing. According to the Clean Hydrogen Monitor 2023, the European electrolyzer industry is ready to scale up to meet European and global demand for the technology, but economic support and non-price criteria could help to accelerate those plans and keep it competitive with non-European manufacturers in the long run.

Furthermore, governments have established objectives for infrastructure improvement. Strategies for improving hydrogen infrastructure are making substantial progress in the United States. The US Department of Energy (DOE) has formed H2USA, a public-private partnership with government agencies, manufacturers, hydrogen suppliers, fuel cell producers, national labs, and other stakeholders to advance hydrogen infrastructure and provide more transit energy options for hydrogen users in the US. The H2USA program aimed to advance hydrogen infrastructure in the United States by promoting the development of hydrogen fuelling stations that would provide customers with more transportation energy alternatives. As of 2023, there were 59 open retail hydrogen stations in the U.S. One of the American businesses engaging in infrastructure improvements to develop the hydrogen industry both domestically and internationally is GenH2.

Challenges: Risk assessment and safety measures for fueling stations

Fuel cell vehicles (FCVs) have long been developed to reduce dependency on fossil fuels and significantly reduce carbon dioxide emissions in the pursuit of a sustainable society. One of the major challenges in launching hydrogen networks for fuel cell vehicles (FCVs) in the near future is the installation and deployment of hydrogen fuelling stations. Addressing safety problems with hydrogen filling stations is critical for ensuring the security of personnel, customers, and the general public, as well as maintaining a consistent supply of hydrogen for FCVs. Hydrogen-related hazards include embrittlement and explosion. Mishaps with hydrogen can be prevented by lowering the hazards associated with it. Risk assessment is an effective strategy for detecting, avoiding, and mitigating accidental hazards. Although innovative hydrogen technologies lack information and are uncertain about risks, dangers, and scenarios, risk assessments have previously been used in standalone compressed and liquid hydrogen stations to ensure dependable safety precautions.

Hydrogen Fueling Stations Market Ecosystem

In this industry, well-known enterprises stand out as established and financially solid providers of hydrogen fuelling stations. With years of expertise, these organizations provide a comprehensive product range, cutting-edge technology, and strong global sales and marketing channels. Their strong track record in the business establishes them as dependable and trustworthy partners for consumers looking for hydrogen filling stations. These firms have proved their capacity to adapt to market conditions while continuously delivering high-quality goods and services, establishing them as industry leaders in addressing the demands of the oil and gas sector. Prominent companies in this market include Air Liquide (France), Linde PLC (Ireland) Air Products and Chemicals, Inc. (US), Nel ASA (Norway), MAXIMATOR Hydrogen GmbH (Germany) and Hydrogen Refueling Solutions (France) among others.

The On-site, by Supply type, is expected to be the fastest growing during the forecast period.

On-site production avoids risks arising from the transportation and handling of large volumes of hydrogen, which can be dangerous. In this process, the overall safety performance in the supply of hydrogen is enhanced. Such on-site production allows for the exploitation of renewable energy sources, for example, solar or wind, to drive electrolysis and hence maximize the overall energy efficiency and sustainability of hydrogen production. On-site hydrogen production systems can be scaled up or down with demand, thus making them a flexible solution that will grow as hydrogen fuel cell vehicles are more and more adopted. Governments and regulatory bodies are increasingly encouraging on-site hydrogen production through incentives and policies that encourage local, decentralized energy solutions, thus boosting growth in this segment.

By pressure, high pressure is expected to be the fastest growing during the forecast period.

Governments and companies have made substantial investments in high-pressure refueling infrastructure, which has encouraged the growth and installation of high-pressure stations. In most cases, high-pressure systems are held to higher safety and regulatory standards, thus contributing to a much greater reliability in their operation and public confidence. Setting the worldwide trend through the adoption of high-pressure standards for hydrogen refueling into contexts beyond simple support for market growth, international and regional standards are aligned to link with requirements of higher pressure.

“Asia Pacific: The largest region in the hydrogen fueling stations market.”

The major automotive manufacturers like Toyota, Hyundai, and Honda are leading from the front in hydrogen fuel cell vehicle technology in the Asia Pacific region. Their leadership and commitment keep driving demand for hydrogen refueling stations that support their vehicles. The Asia Pacific region, especially Japan and South Korea, boasts of techno-adeptness and innovation hubs. It thus creates an environment in which cutting-edge hydrogen technologies, including fueling stations, are developed and rolled out more quickly than in other regions. Many Asia Pacific countries focus on increasing their energy security by diversifying their energy sources. Hydrogen, because it can be locally produced and stored, reduces dependency on imported fossil fuels; therefore, it can fuel the growth of hydrogen fueling stations as an integral part of a greater energy security strategy.

Key Market Players

The Hydrogen fueling stations market is dominated by a few major players that have a wide regional presence. The major players in the market include Air Liquide (France), Linde PLC (Ireland), Air Products and Chemicals, Inc. (US), Nel ASA (Norway) , MAXIMATOR Hydrogen GmbH (Germany), and Hydrogen Refueling Solutions (France). Between 2020 and 2024, Strategies such as new product launches, contracts, agreements, acquisitions, and expansions are followed by these companies to capture a larger share of the Hydrogen fueling stations market.

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Scope of the Report

This research report categorizes the hydrogen fueling station market based on station size, pressure, station type, solution, supply type, and region.

On the basis of Station Size:

• Small Stations
• Mid-sized Stations
• Large Stations

On the basis of Supply Type:

• Off-site
  • Gas
  • Liquid
    • Subcooled liquid hydrogen (sLH2)
    • Cryo-compressed hydrogen (CcH2)
• On-site
  • Electrolysis
  • Steam Methane Reforming (SMR)

On the basis of Solution:

• Components
  • Hydrogen Inlets
  • Compressors
  • Hydraulic Power Units and Controls
  • Dispensing Chiller Systems
  • Storage Units
  • Dispensers
  • Others
• Engineering, Procurement, and Construction (EPC)
  • Site Engineering & Design
  • Permitting
  • Construction
  • Commissioning
  • Project Management & General Overhead

On the basis of Pressure:

• High pressure
• Low pressure

On the basis of Station Type:

• Fixed Hydrogen Stations
• Mobile Hydrogen Stations

On the basis of Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Recent Developments

• In May 2024, Air Liquide completed the Motomiya Interchange Hydrogen Station in Fukushima Prefecture, designed for large commercial vehicles and scheduled to operate 24/7. This station will support hydrogen mobility and the deployment of 60 fuel cell trucks in the region. It is an off-site station where hydrogen is transported from external sources, including renewable energy-based hydrogen. The project is part of a collaboration between Air Liquide, ITOCHU Corporation, and ITOCHU ENEX, supported by METI and Fukushima Prefecture.
• In May 2024, Nel ASA received a purchase order from Alperia Greenpower SRL for hydrogen fueling equipment to be installed in Italy. This marks Nel's first H2Station in Italy, highlighting the company's growing footprint in Europe and its role in advancing hydrogen infrastructure. The hydrogen fueling station will primarily be built for the 2026 Winter Olympics to fuel vehicles for the transfer between the Olympic sports facilities. The contract has a total value of around EUR 3.8 million (USD 4.2 million)  and includes a 2-year service and maintenance contract. The station is scheduled to be operational in the second half of 2025.
• In March 2022, Air Products and Chemicals, Inc., Schenk Tanktransport, and TNO collaborated together on the Clean Hydrogen and Road Transport Project (CH2aRT) project to develop hydrogen trucks and a public hydrogen refueling station.
• In August 2022, Linde PLC opened the world's first hydrogen refueling system for passenger trains in Bremervörde, Germany. It has a total capacity of about 1,600 kg of hydrogen per day.

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