Visiongain has released a comprehensive report titled “Hydrogen Fuelling Stations Market Report 2024-2034,” providing forecasts and analyses covering various aspects of the global hydrogen fuelling stations market. The report delves into types of stations, sizes, technologies, applications, regional market analysis, leading companies, and the impact of COVID-19.
The global Hydrogen fuelling stations market was valued at US$763.0 million in 2023 and is expected to grow at a CAGR of 25.6% during the forecast period from 2024 to 2034, according to the report released by Visiongain.
The deployment of hydrogen fuelling stations is being propelled by infrastructure development for heavy-duty transport, encompassing trucks, buses, trains, and maritime vessels. Hydrogen fuel cell technology offers significant advantages for heavy-duty vehicles, including longer range, faster refuelling, and zero tailpipe emissions, making it suitable for applications where battery electric vehicles may be less practical, says the report. Initiatives such as the European Union’s Hydrogen Valleys and the California Fuel Cell Partnership are driving investments in hydrogen infrastructure to support the adoption of hydrogen-powered vehicles in various transportation sectors.
The COVID-19 pandemic has had a significant negative impact on the hydrogen fuelling station market, leading to challenges across the global energy landscape. During the peak of the pandemic, hydrogen infrastructure projects experienced delays, and the rate of new hydrogen fuelling station installations decreased. Companies and governments faced financial constraints and shifted priorities, leading to deferred or scaled-down hydrogen-related investments. However, resilient regions and companies, particularly those committed to green hydrogen initiatives like Germany and South Korea, continued efforts to expand hydrogen fuelling station networks despite challenges posed by the pandemic. These regions emphasised the long-term importance of green hydrogen in achieving climate goals.
The Visiongain report provides valuable insights into the hydrogen fuelling stations market dynamics, including the impact of COVID-19, enabling stakeholders to make informed decisions in this evolving industry landscape.
