Strict government regulations aimed at controlling ever-increasing pollution, increasing R&D activities regarding hydrogen fuel cell technology, and high relevance of hydrogen as a fuel have boosted the growth of the global gas station market to hydrogen.
PORTLAND, Oregon., September 8, 2022 /PRNewswire/ — Allied Market Research recently released a report titled, ‘Hydrogen Refueling Station Market By Station Type (Small, Medium, Large), By Vehicle Type (Passenger Cars, Commercial Vehicles), By Vehicle Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid, Others), By Delivery Methods (On-Site, Off-Site): Global Opportunities Analysis and Industry Forecast, 2025-2035.’ According to the report, the global hydrogen filling station industry is valued at $1.1 billion in 2025, and should reach $22 billion by 2035, growing at a CAGR of 35.4% from 2025 to 2025. The report offers a detailed analysis of major segments, changing market trends, value chain, major pockets of investment, regional landscape and competitive scenario.
Key Drivers of Market Growth
Strict government regulations aimed at controlling ever-increasing pollution, increasing R&D activities regarding hydrogen fuel cell technology, and high relevance of hydrogen as a fuel have boosted the growth of the global gas station market to hydrogen. However, shortage of fuel infrastructure and high initial cost are hampering the market. On the contrary, the technological development and high potential of hydrogen fuel cell vehicles as well as increased investment and encouragement under the administrative policy would open up lucrative opportunities in the future.
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- Covid-19 has severely affected the automotive industry due to a prolonged lockdown across the world and an economic crisis that has led to reduced spending on next-generation technologies.
- Major European countries have followed strict protocols of social distancing measures to curb the spread of the virus. This, in turn, has reduced sales of fuel cell electric vehicles.
The small segment to dominate the market
By station type, the small segment is expected to hold the largest share in 2025, accounting for more than four-fifths of the global hydrogen refueling station market. This is due to the fact that it is gaining traction in developing countries due to the underdeveloped infrastructure for advanced vehicles in these countries. However, the large segment is expected to show the highest CAGR of 42.1% from 2025 to 2035, due to increased demand for alternative fuel vehicles and increased government initiatives to support zero-emission vehicles.
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Commercial Vehicles Segment to Show Highest CAGR through 2031
By vehicle type, the commercial vehicle segment is expected to show the highest CAGR of 36.7% from 2025 to 2035. This is due to the increase in demand for zero-emission vehicles and better and better hydrogen commercial vehicles. more efficient. Additionally, various multinational retail companies and logistics fleet operators are shifting towards hybrid utility vehicles due to the increase in demand for logistics services due to the expansion of e-commerce industries, from retail to retail and manufacturing. Supply chain and logistics companies are actively involved in replacing their fleet with greener vehicles, which ultimately leads to the growth of the segment in the global market. However, the passenger car segment is expected to garner the largest share in 2025, accounting for almost three quarters of the global hydrogen filling station market. This is attributed to the developments made by different car manufacturers regarding alternative fuel vehicles.
Mining segment to show highest CAGR until 2031
By vehicle technology, the others segment is estimated to register the highest CAGR of 37.9% during the forecast period. This is due to an increased awareness of clean energy and the demand for zero-emission energy sources and strict environmental regulations. However, the proton exchange membrane fuel cell segment will dominate the market in terms of revenue by 2025, contributing more than two-fifths of the global hydrogen refueling station market, owing to increasing R&D investment by many universities and government organizations.
Asia Pacific hold the highest share
By region, the global hydrogen fueling station market across Asia Pacific to register the largest share in 2025, accounting for more than two-fifths of the market, and is expected to maintain its leading position during the forecast period. This is due to the high proportion of electric vehicles and the demand for hydrogen vehicles in the total vehicle production in this region. However, the market through Europe is expected to show the highest CAGR of 38.2% during the forecast period, due to the increase in the use in industrial activities of zero-emission vehicles, hydrogen fuel cells and refueling stations. hydrogen refueling.
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Main market players
- Liquid air
- Air Products and Chemicals, Inc.
- Ballard Power Systems
- Black and veatch holding company
- China Petrochemical Company
- Cummins inc.
- FirstElement Fuel, Inc.
- Fuel Cell Energy, Inc.
- H2ENERGY SOLUTIONS LTD
- ITM power controller
- NEL ASA
- Nuvera Fuel Cells, LLC
- PDC Machines Inc.
- Linde PLC
The report analyzes these key players in the global hydrogen fueling station market. These players have adopted various strategies such as expansion, new product launches, partnerships and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments of each market player.
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