Hydrogen Fuelling Stations: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2018-2028

Market Definition

Hydrogen is drawn from a storage tank and compressed using a compressor at hydrogen vehicle refueling stations. The compressed hydrogen that was delivered to the dispenser is subsequently poured into the car’s fuel cell. The fuel cell, which produces energy by combining hydrogen and oxygen from the air, drives the electric motor of the car. The only waste of this process is water vapour, making hydrogen fuel cell vehicles a clean and suitable alternative to vehicles that use petrol or diesel. Fuelling stations that use hydrogen have a number of advantages over those that use traditional petrol and diesel. First off, because hydrogen is an eco-friendly, clean fuel, hydrogen fuel cell automobiles don’t produce any emissions.

Market Insights

An important market for building hydrogen refueling stations is the Asia-Pacific region. Countries like China, South Korea, and Japan have made large investments in hydrogen Fuelling infrastructure to support the growth of fuel cell vehicles. The main forces for the development of hydrogen filling stations in the Asia-Pacific region are the need to reduce greenhouse gas emissions, increase energy security, and promote the use of domestic renewable energy sources. Due to the region’s many highly populated urban centres, electric cars and other alternative modes of transportation are enticing. There are currently more than 100 hydrogen refueling stations in Japan, and by 2025, the government wants 200,000 fuel cell vehicles on the road. The greatest concentration of stations, usually in urban areas, are in the Kansai and Tokyo regions.

As more fuel cell vehicles are made available, there will be a greater need for infrastructure for hydrogen refueling. Fuelling infrastructure for fuel cell vehicles must include hydrogen Fuelling stations, just as it is important for cars that run on petrol to have petrol stations. With the aid of hydrogen refueling infrastructure, a greater market for hydrogen fuel and fuel cell vehicles might be created. This might encourage further technical investment and cost-cutting. Since hydrogen fuel cell vehicles have longer driving ranges than battery-powered electric vehicles, they can travel long distances. In order to provide fuel along the trip, a network of hydrogen refueling stations is required.

In a number of locations, including North America, Europe, Asia, and Australia, hydrogen refueling stations are being constructed. In North America, there are already more than 60 publicly accessible hydrogen refueling stations, the majority of which are in California. In Europe, there are more than 200 hydrogen refueling stations, with Germany having the most. Japan has the most hydrogen-filling stations in Asia with more than 170 active stations. Australia has also started to build hydrogen filling stations, and several of them are already up and running.

Hydrogen fuel is available for purchase and distribution through hydrogen fuelling stations for use in fuel cell cars. There are both historic and modern hydrogen refueling stations, and they have different infrastructure, architecture, and technological features. At earlier hydrogen filling stations, the hydrogen gas is compressed using a compression-based technology to a high pressure of roughly 700 bar before being poured into the tank of the vehicle. The necessity for a large, expensive compressor for this type of station may increase the number of units that can be built. However, compression-based stations are more dependable and have been operating for a while.

Market Dynamics: Drivers

Increasing Funds in Hydrogen Fuelling Stations

The amount of money available at hydrogen filling stations increases when new financial resources are acquired to build, enhance, or update hydrogen fuelling infrastructure. The broad adoption of fuel cell cars, which use hydrogen to generate power with the only byproduct being water vapour, depends on the availability of hydrogen fuelling stations.

Money can be raised for hydrogen Fuelling stations using a variety of strategies. Getting public funding from national or international organisations to finance the development of infrastructure for hydrogen Fuelling is one strategy. This can be done using grants, loans, or tax incentives. Another option is to solicit private funding from companies ready to build and operate hydrogen filling stations. This can be done through partnerships or joint ventures where investors put their money and expertise into building and running the stations.

Raising awareness and demand for fuel cell vehicles can also help in attracting finance for hydrogen fuelling stations as it creates a market for the infrastructure. This can be done via organizing with stakeholders including manufacturers, energy providers, and infrastructure providers, as well as through public awareness campaigns, financial incentives for fuel cell vehicle purchases, and other means. Increased investment in hydrogen fuelling stations is necessary due to the increased usage of fuel cell vehicles, which can help lower greenhouse gas emissions and improve air quality.

Market Dynamics: Challenges

Immature Development of Hydrogen Infrastructure

Hydrogen fuel cell technology has the potential to completely transform the automotive industry by giving consumers an alternative to traditional gasoline-powered vehicles. The lack of suitable hydrogen infrastructure is causing problems for the hydrogen refueling station sector.

One of the biggest problems facing hydrogen Fuelling stations is the lack of a reliable hydrogen distribution network. The infrastructure needed to produce, transport, and store hydrogen is currently being created. Most places need convenient access to hydrogen. As a result, achieving economies of scale when building a hydrogen refueling station can be costly and difficult.

Another challenge facing the industry is the lack of consumer demand for hydrogen fuel cell automobiles. Since there aren’t enough hydrogen-powered cars on the road, investors aren’t particularly motivated to build more recharging stations. Due to a lack of infrastructure, consumers are hesitant to acquire hydrogen-powered cars, and investors are reluctant to invest in that infrastructure because there is little demand for automobiles.

The safety concerns around hydrogen refueling stations can also prevent the sector’s growth. Gases like hydrogen are so easily ignited that accidents at fuelling stations might be deadly. As a result, safety requirements for hydrogen filling stations are strict, and construction norms and standards for hydrogen infrastructure are currently being created.

Overall, the inadequate hydrogen infrastructure poses serious problems for the hydrogen refueling station industry. Without significant investment and market demand for hydrogen-powered vehicles, hydrogen fuel cell technology is unlikely to realize its full potential as a sustainable energy choice.

Market Segmentation

• Based on Station Size, the Global Hydrogen Fuelling Stations market is segmented into
  • Small station
  • Medium station
  • Large station
• Based on Pressure, the Global Hydrogen Fuelling Stations market is segmented into
  • High pressure
  • Low pressure
• Based on Station Type, the Global Hydrogen Fuelling Stations market is segmented into
  • Fixed
  • Mobile
• Based on Installation Type, the Global Hydrogen Fuelling Stations market is segmented into
  • New station
  • Retrofitting
• Based on Geography, the Global Hydrogen Fuelling Stations market is segmented into
  • Asia-Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

• All market revenue has been given in US Dollar.

Historical Year: 2020-2021
Base Year: 2022
Estimated: 2023
Forecast- 2024-2030

 Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Hydrogen Fuelling Stations Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Hydrogen Fuelling Stations Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Hydrogen Fuelling Stations Market based on competitive benchmarking matrix?
• What are the key results derived from the market surveys conducted during Global Hydrogen Fuelling Stations Market study?