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The hydrogen fueling station is used for filling a vehicle with hydrogen fuel. It is a part of a station for fossil fuel refueling or an independent infrastructure. It is comprised of basic units as well as a production unit if the hydrogen is produced on-site. The refueling station includes adequately sized storage facilities for hydrogen, compressors which bring the hydrogen to the required gas pressure level, a precooling system, and dispensers for delivering the fuel. Growing demand for fuel cell electric buses, and vehicles such as forklift trucks and railways, and an increasing trend for adopting clean energy sources are the key factors driving the growth of the market.
The hydrogen fueling station market is segmented into type, component, and application. The type segment is further segmented into on-site and off-site. The on-site segment is projected to boost the market growth as it provides zero-emission fuel from production to end-user, which eliminates the dependency on carbon fuels. The component segment is further divided into the dispenser, hydrogen tank, compressor, and others. The dispenser segment contributes to the largest market share in the global market owing to the increasing installation of the fueling station.
On the basis application segment, the market is categorized into hydrogen tube trailers, tanker trucks, pipeline delivery, railcars and barges, and others. The hydrogen tube trailers segment dominates the market due to the increasing demand for transportation of hydrogen gases.
Increasing investment in hydrogen fuel cell industry, growing demand for fuel cell electric buses, material handling vehicles such as forklift trucks and railways, and an increasing trend for adopting clean energy sources are the key factors driving the growth of the market. However, stringent regulatory guidelines specified by for building hydrogen fueling infrastructure by local authorities will restraint the market growth.
Key Market Driver -
Increasing Investment in hydrogen fuell cell technology and Growing demand for fuel cell vehicles
Key Market Restraint -
Stringent regulatory guidelines hydrogen infrastructure
Some of the leading manufacturers of hydrogen fueling station include Air Liquide, Air Products and Chemicals, Inc., Ballard Power Systems, FirstElement Fuel Inc., FuelCell Energy, Inc., Hydrogenics Corporation, The Linde Group, Nel Hydrogen, Nuvera Fuel Cells, Praxair, Proton OnSite/SunHydro, Proton Onsite, and SunHydro.
The hydrogen fueling station market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is anticipated to hold the largest market share in the global market, owing to significant investments and supportive initiatives for escalating the application of fuel cell vehicles from China, Japan, South Korea, and India. North America is also projected to increase its market revenue in the coming years due to increasing awareness for mitigating carbon emission, which leads to the deployment of hydrogen stations. Europe is experiencing growth owing to significant investment in building hydrogen station infrastructure, such as Denmark being the first country to install a nationwide hydrogen fueling infrastructure, and Germany had planned to construct 400 hydrogen fueling stations in the coming years.
The Middle East & Africa is growing its market share owing to increasing investment in fuel cell infrastructure. For instance, in January 2019, Saudi Aramco is planned to build the first hydrogen fuel cell vehicle fueling station in Saudi Arabia. Hence, increasing investments in the building fuel cell industry and expansion of fuel cell powertrains drives the demand for hydrogen fueling station in the global market.
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