“The hydrogen fueling station market is projected to grow at a CAGR of 16.8% from 2023 to 2030”
The global hydrogen fueling station market is estimated to grow from USD 380 Million in 2023 to USD 1,129 Million by 2030; it is expected to record a CAGR of 16.8% during the forecast period. Increasing initiatives to curb the green house gas emissions from the mobility sector leads to an increase in the demand for the renewable hydrogen fuel which drives the hydrogen fueling station market.
“Off-site: The segment is expected to account for the largest market share of the hydrogen fueling station market in 2022, by supply type “
Based on supply type, the hydrogen fueling station market has been split into two types: off-site and on-site. The off-site were estimated to have the largest market share of the hydrogen fueling station market in 2022. The growth of the off-site segment can be attributed by the rapid development of technological methods for the delivery of hydrogen through pipelines and carriers.
“High Pressure segment is expected to dominate the hydrogen fueling station market based on pressure”
By pressure, the hydrogen fueling station market has been segmented into high pressure and low pressure. The high pressure segment is expected to hold the largest share of the hydrogen fueling station market in 2022 and grow at faster rate during the forecast period. Rising trends in shared mobility and increased demand for the light duty vehicles especially fuel cell passenger cars is expected to drive the growth of high pressure segment.
“By Solution, the engineering, procurement and construction (EPC) segment is expected to be the fastest growing market during the forecast period.”
Based on Solution, the hydrogen fueling station market is segmented into engineering, procurement and construction (EPC), and components. The engineering, procurement and construction (EPC) segment is expected to be the fastest-growing segment during the forecast period. The key factors such as growing adoption of fuel cell vehicles and rising construction of hydrogen fueling station is expected to drive the EPC segment during the forecast period.
